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Impulsive

4h / 2618 // structure // harmonics // impulse // IF=THEN ®FX:EURAUD 1. Double top 2. broken neck 3. found support at 1.5353$ 4. 61.8% retracement / that completes a 2618 setup / double top followed by a 61.8% retracement 5. Eventual wave 4 of 5 of a corrective move 6. Wave 5 ends with a cypher pattern at daily support 7. Wave 3 of 5 of an impulse with the default ratios / wave 3 = 161% ext of wave 1 8. ascending wedge, we have a structure, surf it, eventually Safe trades
Short
by Andre_Cardoso
2
USDNOK : Intraday ViewOn the Intraday chart of USDNOK we are following an idea of an complex correction, a double zig-zag that can still find lower levels before its completion. Currently we see price in red wave A), the first leg of a second zig-zag, labeled as blue wave Y-circled, that could be in final stages. A three wave rally towards 0.5 and 0.618 fibo. ratios would be treated as a correction in red wave B) that could ideally turn to the downside at 8.5975 where previous swing low can act as an resistance. www.ew-forecast.com @ewforecast
by ew-forecast
NZDUSD : Correction UnfoldingCommodity based currencies are still in consolidation patterns. On the NZDUSD chart, we see a bullish reversal in the making, now in the second leg of a three wave correction in red wave B). Corrections can at times be more complex than usually and that is why we set up a possible triangle formation pattern unfolding in wave B). A triangle pattern is a continuation pattern, that can push prices higher after its completion. That said after black wave E is finished, more upside could follow. www.ew-forecast.com @ewforecast
by ew-forecast
AUDJPY : Correction Can Be UnderwayAUDJPY has been trading as planned, breaking the lower corrective trend line and resulting in nice impulsive manner. Because we can count five waves within this downfall from 90.74 we expect a new correction in days ahead. Recent bullish rally towards 83.539 can be blue wave A-circled, the first leg of a three wave correction, so expect more gains after wave B-Circled is completed. Our previous updates on this pair : www.ew-forecast.com @ewforecast
by ew-forecast
USDJPY : Intraday ViewUSDJPY finally fell to a new low after a nice corrective bounce up into wave iv) that found resistance near 119.70. Now we are tracking a new five wave decline from that swing high which is still underway, pushing price lower within red wave v) that can hit levels around 118.00 today where price can turn back to the upside as big five wave drop from December can be coming to an end. At the same time we have to keep an eye on 117.79 level because push through that price will invalidate our impulsive wave count as red wave v) would then be longer than wave iii) which is not allowed since wave iii) is already shorter than wave i). www.ew-forecast.com
Short
by ew-forecast
Reuters CRB Commodity Index Can Bottom In 2016 Top In this article we will look at CRB Commodity Index. This is important market to track for overall direction on commodities. What we see on the weekly chart below is a five wave of decline within wave C which means that current weakness can be coming to an end. Ideally market will turn up in 2016, but it can happen from around 28,00 or from next Fibo support at 25.00. if we are on the right track then grains, as well as oil and even gold can turn up as next year while USD trend may slow down because of negative correlation. www.ew-forecast.com
C
by ew-forecast
1