GOLD found some support on Thursday, but rally from that low is slow so we believe it’s a corrective wave iv that will sooner or later send price back to the lows; ideally to 1180 level from June. Invalidation level for gold is at 1226. www.ew-forecast.com
Bitcoin Elliott Wave Analysis: Double Zig Zag Pattern www.ew-forecast.com
On crude oil we can see some bearish reversal from 99 level, which we think it's wave B, still only second leg of a minimum three wave rally up in wave 4). Ideally this wave B will find a support in this week somewhere around 94.50-95.60 area from where we expect a reversal up in wave C towards 100 psychological level where move from 91.70 could complete a...
Gold found support last week around 1209where we called a three wave rally, a)-b)-c) move after a completed five waves down from 1360. Recently price has reached a new swing high so it appears that gold is already in wave c) that could stops at 38.2 or maybe at 50% retracement area. We however want to wait and see an impulsive drop from wave c) to confirm...
I am not fan of EURCHF but client requested an update so I decided to share some charts. I see a triangle in progress on a weekly chart while price is moving down on a daily chart within wave C) of a triangle. Nothing interesting here, but I see some support that comes around 1.2100/30; swing low from March 2013 and a trendline, from where we would expect a new...
GBPUSD broke to a new high as expected after we identified end of a corrective retracement at 1.5850. As such, we are now tracking a new impulse leg up with can be wave C, final part of a double zigzag in wave E). If this is correct count then rally from July low is near completion. Ideally we will see a reversal down from around 1.64-1.66 region. www.ew-forecast.com
On EURNZD I see five waves up in leading diagonal followed by a five wave decline from 1.6840 which is first leg of minimum three wave retracement. As such, wave (b) retracement back to 1.6590-1.6700 could be interesting for shorts in wave (c) down. www.ew-forecast.com
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We are Cautiously Looking at this Level. Break Down the Level means more bearish GOLD. But If Gold Get Support at the zone then some rise is expected.
EURUSD found a support on Friday after NFP report around 1.3100 area from where we have seen 80 pip rally back to the wave 2-wave 4 trendline. Usually when this occurs it means that five wave decline is complete and that market reversed into a temporary correction... www.facebook.com
EURUSD is trading nicely lower for the last two weeks, which could be start of a new larger impulsive bearish trend. Notice that decline from 1.3400 is much larger compared to first leg down from 1.3450. Well, as we know third waves in the middle of a five wave decline are typical the longest, so we suspect that market is forming an impulsive decline, now with...
#EURUSD: On the weekly time frame we are observing a huge head and shoulders pattern, now right shoulders at resistance. Try our 7 Days Free trial: www.ew-forecast.com | Follow us on Twitter: @ewforecast
GOLD is in recovery mode for few weeks now and it seems that current price action could move even higher in the next few days if we consider a broken trend line of latest five wave decline which suggest that impulsive move from 1680 is complete. Usually when market is in reversal mode the price will retrace back to the territory of a former wave four. In our case...
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Latest update on spx 4/23/2013 www.ew-forecast.com
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detailed chart with trading level www.ew-forecast.com
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