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Elliott Wave Analysis: GBPUSD Intraday ViewGBPUSD is undergoing a sharp and swift reversal to the upside, which is an indication that the previous five wave move to the downside is completed. As such we are tracking a three-wave rally as in waves A)-B) and C), which can see limited upside around the Fibonacci ratio of 61.8. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
by ew-forecast
15
Elliott Wave analysis: S&P500 May Face A ReversalS&P500 can be trading in late stages of a wave c), final wave that is part of a three wave correction. As we can see current wave c is displaying qualities of an ending diagonal, which means a sharp and sudden drop lower could be in for the stock. Break of 2379 can cause and confirm a sell-off. An ending diagonal is a special type of pattern that occurs at times when the preceding move has gone too far too fast, as Elliott put it. A very small percentage of ending diagonals appear in the C wave position of A-B- C formations. In double or triple threes, they appear only as the final “C” wave. In all cases, they are found at the termination points of larger patterns, indicating exhaustion of the larger movement. Its formation is a 3-3-3-3-3. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
S
by ew-forecast
8
Elliott Wave Analysis: USDCAD Making A Three Wave DropUSDCAD made a sharp and swift move to the downside two weeks back after an ending diagonal formed in wave 5) that confirmed a top near 1.3790. A nice drop is now in play, currently in third wave of a decline that can be wave 3 or C, but in both cases there is room for 1.3525. That being said, if price keeps falling, then wave 3 can be in motion, which can ideally reach the Fibonacci projection ratio for 261.8. Disclosure: We do not own any assets or share of the instrument mentioned in our outlook Please be informed that information we provide ARE NOT trading recommendation or investment advice. All our work is for educational purposes only.
Short
by ew-forecast
2
Elliott Wave Analysis: GBPUSD Second ViewHere is another look at the cable, an alternate count that can be a triangle if price breaks above wave D) high. Breach of 1.2956 will indicate a potential rise to 1.3030, while fall below wave C) may cause a strong an extended decline to 1.2700. Disclosure: We do not own any assets or share of the instrument mentioned in our outlook Please be informed that information we provide ARE NOT trading recommendation or investment advice. All our work is for educational purposes only.
Short
by ew-forecast
Elliott Wave Analysis: GBPUSD Intraday ViewCable is falling this morning after it found a support yesterday and rallied into wave 4 from our Fib. levels. So far, there is a nice reaction lower which can be a fifth wave of decline but we still need to see that low before top can be put in place at 1.2985. Disclosure: We do not own any assets or share of the instrument mentioned in our outlook Please be informed that information we provide ARE NOT trading recommendation or investment advice. All our work is for educational purposes only.
Short
by ew-forecast
1
Elliott Wave Analysis: USDJPY Can Be In For A ReversalUSDJPY is turning down at the moment which has been technically expected based on a five wave rise from 112.08 which makes a completed wave v) of a higher degree. That said, a bigger corrective decline can be coming in three waves. Disclosure: We do not own any assets or share of the instrument mentioned in our outlook Please be informed that information we provide ARE NOT trading recommendation or investment advice. All our work is for educational purposes only.
Short
by ew-forecast
5
Elliott Wave Analysis: AUDUSD Trading In A Temporary CorrectionAUDUSD is turning up and is now trading well above the upper channel line which indicates a completed five wave decline, so wave count has been adjusted as bigger correction can be unfolding. A three wave rally might began for a bounce back to the area of a former wave four. Disclosure: We do not own any assets or share of the instrument mentioned in our outlook Please be informed that information we provide ARE NOT trading recommendation or investment advice. All our work is for educational purposes only.
by ew-forecast
Elliott Wave Analysis: EURUSD Undergoing An Intra-day ReversalDecline on EURUSD was no to clear on "bar chart", but on line chart the situation is slightly different and is matching perfectly with Dollar index count above. that said, euro is expected to stay bearish while it trades beneath 1.1000 area, but three wave set-back may show up, to 1.0950 resistance. Disclosure: We do not own any assets or share of the instrument mentioned in our outlook Please be informed that information we provide ARE NOT trading recommendation or investment advice. All of our work is for educational purposes only.
Short
by ew-forecast
2
Elliott Wave Analysis: Will German DAX Top Or Continue Strong ? German DAX is at a new high after very aggressive buying pressure since market open. However, market is currently seen in fifth wave trading at some Fibonacci resistance area that can cause a temporary top, or even turn lower into a new correction. Disclosure: We do not own any assets or share of the instrument mentioned in our outlook Please be informed that information we provide ARE NOT trading recommendation or investment advice. All of our work is for educational purposes only.
OANDA:DE30EUR
by ew-forecast
Elliott Wave Analysis: A Powerfull Reversal Pattern On USDCADUSDCAD is moving higher for the last few weeks, but an overlapping price action from the last few days suggests that turning point can be near. The reason is an ending diagonal ; it's a special type of Elliott Wave form that causes a reversal in strong manner, but for such case a break below wave four swing near 1.3650 will be needed. Invalidation level of the pattern is above 1.3820. Why? Because wave three is already shorter than wave one, so it must not be shorter than fifth wave. So if 1.0820 level is passed wave count will change. Disclosure: We do not own any assets or share of the instrument mentioned in our outlook Please be informed that information we provide ARE NOT trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
6
Elliott Wave Analysis: USDJPY Could Be In For A ReversalUSDJPY is trading higher, but pair is seen in 5th wave of a five wave rally so upside can be limited. Technically we expect a three wave set-back this week, which can be confirmed once market falls below the channel support at 111.40 area. Divergence on the RSI also suggests that upside can be limited. Disclosure: We do not own any assets or share of the instrument mentioned in our outlook Please be informed that information we provide ARE NOT trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
4
Elliott Wave Analysis: AUDUSD Intraday ViewAUDUSD fell in five waves downs from 0.7582 this week, which is a bearish pattern but a larger degree pattern suggest that it can be wave B) so we have to be aware of a new significant turn next week. But as always try to focus on minimum expectations, so no matter what the larger degree count is you still expect a three wave recovery because of that five wave fall to 0.7437. That been said, we would not be surprised to see pair traveling back above 0.7500.
by ew-forecast
2