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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.
The big bullish impulse is anticipated for a long time. But it seems there is more downside before it happens.
This is a daily chart. So the forecast covers few months to come and beyond. There is a lot left in the correction and it is far from over.
It may not seem much. But here is the forecast till the end of 2017.
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.
Gold is in the C wave of an ABC correction. Obviously long term view is for the upside, but not before it reaches the lows - at least 1300.00
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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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we have concluded the ongoing bullish wave to be a wave C instead of a wave 3 of a larger impulse. So there may be a breakout to the down side. Trade with care cos its NFP Friday
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
Identical pattern of the WXY correction last week. Only smaller this time. Obviously the resulting impulse too will be shorter than the last weeks.
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 ...
USDCHF Elliott wave analysis on a weekly chart for longer term perspective.
USDJPY Elliott wave analysis on a weekly chart for longer term perspective.
USDCAD Elliott wave analysis on a weekly chart for longer term perspective.
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 ...
Presumably an ABC corrective structure in the making, in which case we are currently in the B wave. I would keep an eye on lower time frames to catch the start of the impulse up.