This is the expecatation for GBPUSD. The correction drawn in a blue squiggly is just for illustration. It could be any pattern, but I expect it to reach the outer boundary of the overall trend channel.
USOIL Daily chart is at a critical point as it reaches the 61.8% Fib retracement of the correction so far. The important thing to note is if the WXY correction is complete and if bullish momentum dies at the trendline, we might get the Z wave. On the other hand if price breaks out of the corrective structure with conviction, then it will be a bullish impulse. Of...
B wave has 2 possibilities. ABCDE Triangle and a simple ABC ZigZag. Looking at the sentiment of other EUR pairs ABC ZigZag seems more likely. Only time will tell. Nevertheless there is plenty of time before the C wave starts. Short term sharp movements to both sides are a possibility in these conditions.
Pullbacks and short-term corrections marked on the chart in blue are for illustration purpose only. They hold no significance in terms of price or time. Read EURUSD weekly outlook 15th – 19th August 2016 for complete details.
This is my preferred count for USDCAD - obviously expecting a Flat to complete the triple-three C wave. I say preferred because there is a possibility of an ending diagonal (replacing the overall WXYXZ structure) as the Y wave of Cycle degree.
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If you must trade the cable next week, look for buy opportunities. I say if you must because, the ATR is in the rise and 14 day period ATR of the H4 stands at 200 pips. So be protective and expect big moves back and forth. If you can get this trade, it will easily cover 300 to 500 pips. See my detailed explanation, analysis and forecast
Elliott wave WXY Double three combination seems to be completed with a ZigZag and a running flat. So is the 3rd wave in progress? Read the Elliott wave principle for more information about the WXY double three correction.
very likely so. But awaiting a corrective 2nd or 4th wave in a lwer degree is a good idea. The direction is clear in terms of Elliott wave...
Take a look at our GBPUSD wave analysis and forecast. This is of course a short term view of the GBPUSD. We were awaiting the completion of the 4th wave in a higher degree. Although our initial expectation of an ABC completion and the price target of 1.34000 levels has changed since todays break of the presumed B wave did not have enough stamina for a C wave...