marcyacoub

marcyacoub

CAD/JPY is trading inside a rising wedge. Also, you can clearly see the double top pattern at the end of the rising wedge, and breaking the neckline will signal the start of the break of the rising wedge. The first target will be (85.437). The second target will be the bottom of the wedge at (84.444). Stoploss right above.

marcyacoub

It's all price action here. As you can see, EUR/GBP broke the small descending channel (in white), so we expect it to continue its way up towards the beginning of the channel which will be our first target. If EUR/GBP managed to get to our first target, we expect a small retest to the bigger descending channel (in yellow) before continuing its way up towards the...

marcyacoub

A lot of you guys have been asking me what’s been happening with the U.S. Treasury Bonds and everybody is now talking about it and how it is directly affecting Gold prices. This chart above is creating a very interesting formation. As you can see on the Weekly Chart, US10Y finished 5 waves down and now we are waiting for it to finish Wave C from its ABC...

marcyacoub

Looking at the 30 min chart, CAD/JPY has been trading in an ascending channel inside a bigger ascending. We've been waiting for the break to try to catch a risk-free trade where our Stop loss will be just right above, and our first target will be 60 pips away at the bottom of the first channel (84.91) and our second target at (84.404) which is the bottom of the...

marcyacoub

AUD/JPY has finished 5 waves up inside an ascending channel and started its correction with wave A and wave B also forming a small bearish flag which is known to be a continuation pattern for more downside. Because AUD/JPY finished 5 waves up, I expect it to break this ascending formation with wave C possibly reaching the 161.8% Fibonacci Extension level at...

marcyacoub

Very simple setup this time. GBP/CHF broke the ascending channel, and if you follow us on our different social media platforms you know that we took this trade and we got out of it because we knew that a retest is coming after reaching the 100% Fibonacci Extension level. After retesting the trendline, we expect GBP/CHF to continue its way to the downside to...

marcyacoub

USD/CAD finished 5 waves down in a descending channel and we expected it to break with wave A which, according to the Elliott principle, is known to be the first corrective wave. Then, it retested the descending channel with wave B at (1.25942), and now we expect USD/CAD to finish its correction with wave C possibly reaching the 78.6% Fibonacci Extension level at...

marcyacoub

EUR/AUD is trading now at a very strong level (1.54036) which was resistance and now turned support. Also, you can clearly see that EUR/AUD dropped towards this level in a descending formation, so breaking this channel will push EUR/AUD for a nice move to the upside reaching (1.56728) as a first target which is the beginning of the descending channel and also the...

marcyacoub

Very simple, GBP/JPY broke the rising channel on the 1H chart and then formed an amazing small continuation pattern. Our first target will be the 61.8 Fibonacci Extension which is the bottom of the small rising wedge (147.55), our second target is the 100% Fibonacci Extension (146.40), and if managed to break it, it will keep tickling its way down towards the...

marcyacoub

If you go back to my previous analysis on BTC, you can see that our analysis went exactly as predicted and reached the $54,000-$58,000 zone with wave 3. After finishing wave 3 especially at this critical area, we definitely expected a small pullback (wave 4) in order to get back with strong momentum and continue its way up to reach at least the $60,000. The...

marcyacoub

Gold collapsed heavily on Friday (26 Feb 2021) to an eight-month low from $1,807$/oz to $1,715/oz as a stronger Dollar and elevated U.S. Treasury Yields (at 1.6%) hammered non-yielding bullion's appeal. We predicted this move to happen but not that quickly. As you can see on the daily chart, Gold reached wave Y (which contains 5 waves down) signaling the end of...

marcyacoub

CHF/JPY finished 5 waves up on the daily chart and reached the 100% Fibonacci Extension level (118.862), so we expect an ABC correction to retest the previous wave 4. You have clearly noticed that I use this formation a lot (5 waves up and a retest to the previous wave 4) and I love it. We were waiting for the break of the trendline in white, and after retesting...

marcyacoub

EUR/USD just formed an amazing inverse head and shoulders pattern. If this scenario ends up being valid, we expect it to reach 1.2380. It's time for GBP/USD to rest a little bit and give the Euro the opportunity for a great rally.

marcyacoub

Keeping it real simple, AUD/USD finished last week with 5 waves up and a small abc correction. And you know that according to the Elliott Waves principle, after retesting the previous wave 4 with an abc correction, we always expect an impulsive wave and that is exactly what ended up happening. For now, we are waiting for wave 5 (from the new impulsive wave) to...

marcyacoub Updated 

On the Daily chart , we can see EUR/AUD trading in a big descending channel , and from where it is trading now, we expect some more downside before thinking about the break of the channel to the upside (The Bigger Picture). For now, EUR/AUD , which is also trading inside a small descending channel , broke the (1.56023) major support level but retested it and...

marcyacoub

GBP/USD has been non-stop soaring for about 2 months without making any correction making a lot of traders lose money. Having a very corrective shape as you can see, it finally reached a very high key level (1.3950) with an upward channel and rejected it signaling the start of a correction which could at least reach the 1.36645 (Bottom of the upward channel) as a...

marcyacoub

Look at how corrective this move was to the upside so a reversal is definitely expected. Also, AUD/NZD rejected the 78.6 Fibonacci Retracement on the Daily Chart, plus it broke the rising channel on the lower timeframe with a beautiful confirmation candle signaling the start of the reversal. First Target: at 1.0700 Second Target: at 1.0551

marcyacoub

As you can see, Silver has finished its 5 waves to the upside and its 3 ABC corrective waves. What's so interesting, is that wave C retested the previous wave IV of wave 3, and the new wave that is forming right now also retested the previous wave 4, and we know that retesting the previous wave 4 according to the Elliott principle is considered as a bullish...