Get started

Impulsive

Elliott Wave Analysis: USDCHF Trading In A Triangle Triangles are made by five waves where each leg is made by three sub-waves, so we see current turn down on USDCHF as a temporary move; it can be wave C) that found a support around 0.9530 area, after a completed five wave fall in sub-wave C of (C). Current upward reaction to 0.9640 is sharp so we believe price is headed up into wave D). At the same time we need to keep in mind that triangles are quite complex, slow corrections that may take some time to develop. www.ew-forecast.com @ewforecast
by ew-forecast
Copper - A strong impulsive rally towards 2.64 is expected My preferred count shows that copper saw an important low in mid-January at 1.9355 and a strong rally higher towards 2.6410 now should be expected. From the 1.9355 low a nice five wave rally was seen to 2.3235 as wave (i) and wave (ii) was clearly a three wave zig-zag correction that completed at 2.0130. Wave (iii) started to move higher from 2.0130 in a pretty messy fashion to 2.2775, which I think was and expanded leading diagonal as wave i and was followed by an almost equally messy wave ii down to 2.1330. It now looks as wave ii completed at 2.1330 and wave iii of (iii) higher is ready to develop. The first strong indication, this is the case, will be a break above the minor channel resistance-line near 2.1945 for a rally higher to 2.2775 on the way higher to 2.38 and 2.64.
COMEX:HG1!Long
by EWS
Elliott Wave Analysis: USDJPY Undergoing A Possible CorrectionUSDJPY fell nicely down to our 261.8% Fibonacci projected level over the last two days where wave 5 might completed an extended red wave 3), based on recent sharp turn back to 101.00 area. However, despite a strong intraday bounce we see leg up as part of a new corrective rally. We are talking about red wave 4) that may rally even to 102.00-102.70 area before market would be ready for a new sell-off, then into wave 5) through the 99.00 mark. www.ew-forecast.com @ewforecast
by ew-forecast
1
Elliott Wave Analysis: USDCAD Trading In A FlatUSDCAD turned lower in the last two days, making a new bearish impulse that we see it as wave C of a flat in a higher degree correction. As we know wave C should be made by five waves so another short-term decline beneath 1.2990 can be in play for wave five of C, before market turns higher with impulsive reaction. Daily close above 1.3130 would suggest that lows are already in place. A Flat is a three-wave pattern labeled A-B-C that generally moves sideways. It is corrective, counter-trend and is a very common Elliott pattern. www.ew-forecast.com @ewforecast
by ew-forecast
Elliott Wave Analysis: DAX In A Possible CorrectionDAX is trading sharply to the upside, with some strong upward reaction from 9300 which looks like an extended wave. Usually third waves are extended so our updated wave count shows that this can be black sub-wave 3, that could be already over as of recent sharp reversal. That said a minimum three wave recovery may follow in black wave 4, ideally towards the 38.2 of 50.0 Fibonacci ratio from where a new reversal higher may occur. www.ew-forecast.com @ewforecast
TVC:DEU40
by ew-forecast
Elliott Wave Analysis: Intraday View On GOLDOn the 1H chart of GOLD we are observing a five wave impulse from July lows taking place, with price now trading in a possible correction in black wave 4. That said we know that after every five wave movement a minimum three wave contra-trend action follows, meaning a little more weakness could come in play. Ideally GOLD will find support around the 38.20 Fibonacci ratio and continue higher. Invalidation level is at 1333- as long as it holds we are looking bullish. www.ew-forecast.com @ewforecast
FX:XAUUSD
by ew-forecast
2
Elliott Wave Analysis: Intraday View On AUDUSDFX market is slow today and it may stay that way even till the FOMC Statement and rate decision on Wednesday. Also, lets keep in mind that we are in the middle of summer, which is normally very slow period for markets. On AUDUSD we did not get a strong fall recently so we assume that market might have already bottomed in wave 5 as an ending diagonal. If that's the case, then new three wave rally is now underway, back to 0.7550-0.7600 area which could be very interesting to join the dowtrend, which should remain in play as long as 0.7676 holds. www.ew-forecast.com @ewforecast
by ew-forecast
USDTRY UPDATE: Possible Triangle CompletedIn our previous article about USDTRY we talked about the basic of a triangle correction pattern, talking about each leg and how many sub-waves each has, and were price will go after this complex correction is completed. That said as we see price recently broke above the wave B swing, out of this triangle pattern, which gives us an idea that wave IV could be over and more gains are already underway in black wave V. If that is the case then price may now continue even further to the upside, but with some sub-wave corrections that may take place, in our case we are talking about sub-wave 4, which can find its support around the upper corrective channel line. www.ew-forecast.com @ewforecast
Long
by ew-forecast
1
Elliott Wave Analysis: Intraday GBPUSD Aiming HigherGBPUSD made a nice move up on smaller time frames at the expected yellow reversal zone. For now we see this as the beginning of a new temporary uptrend. As we see price made a nice five wave move from 1.305 area, which can indicate higher levels to follow. But nothing moves in straight lines, so a possible correction in blue wave ii can be near. If price breaks beneath the 1.305 area, then previous correction would still be in play. www.ew-forecast.com @ewforecast
by ew-forecast