Price has completed a full ABCD pattern from Sep 2012 and also a minor ABCD with 161 extended D-point. Since the price has been attempting to reach targets. First target was the full swing CD move of minor ABCD. The technical target hasn't been reached yet (1,0790). One scenario is more bullish. Since price completed the large ABCD prematurely w a fast latter CD...
The unusual but legendary squareball X pattern hints a nice bullish up-move coming with a touch of a retracement to begin the move. The bearish correction (retrace) would end around 1.3754 followed by a nice bull rally all the way up to 1.424, and beyond. Watch for fakeouts, have fun and tread carefully! :D
Price action since late Oct 2013 is being interpreted as potential rising wedge by many and hence EURUSD is close to forming a top for reversal or at least substantial retracement. Others continue to point to a much larger contacting triangle with bearish implication. I could be wrong, however I do not subscribe to that view. From my chart, which, I have posted...
I think GBPUSD is technically ready to challenge 1.7000 soon. GBPUSD could now be in Elliott wave 4 corrective mode. When the corrective wave 4 is complete, wave 5 should be able to go to new highs to test the highly psychological round number resistance of 1.7000. Long GBPUSD 1.6680-90 SL 50pips TP near 1.7000
Friends, The Aussie steamrolled over a potential counter-trend idea and marched on to loftier levels, which are now challenging significant technical patterns. In addition to predictive analysis and forecasting data calling for a reversal within the potential reversal zone (PRZ) range defined by technical data alone, a fundamental element is likely to come into...
Friends, As the stock market is turning increasingly wary and talk of a market crash abound, other risk aversion behaviors have transpired through Forex pairs. Here, in particular, USDJPY fell significantly, keeping lower supports exposed. PREDICTIVE ANALYSIS/FORECASTING DATA: Predictive analysis and forecasting system remains bearish in the short-tern, but...
05/02 - 2014 UPDATE This is an update for my previous usdcad idea but this is not a long usdcad idea, but more of a short (FX) commodities idea (look below for more charts). I wrote in my previous usdcad idea "Alt. view would be that this 5 waves advance is wave A in a 3 legged C wave." and it looks like this is turning out to be the case. We reached the min...
Our original analysis stated in part: "Taken by itself, the technical pattern on the chart is a classic bottom with a follow through support at the first real pullback. Many unexpected huge moves have resulted from this pattern over the years. A factor in NOK's favor on the long side is the price action at the LT Swing Long entry range. It has been very...
HEY WE'RE GOING TO 1.40 LIKE IT OR NOT. April 14 Sorry about my cluttered charts. Here is a simple chart for more simple traders. Really I am a simple trader. Why make it complicated? I knew what that line was for. I just use Higher Highs Lower Lows & trend lines that reveal support and resistance zone. May 15 breaks low through support trend lines
My last idea suggested that a reversal maybe on the cards But the decline from the 1.3960 high was very corrective in nature and now it looks like we should see another move towards the 1.40-1.44 area before a reversal. At the time being I will look to buy dips in this pair as we stay above 1.3660:s. Look below for more charts. Follow all my demo trades at...
28/04 IMPORTANT UPDATE This is an update for my previous idea We are now correting the 5 wave adavance from the 90.60 low. The correction could have ended at 92.30 (todays low), but it could go lower towards 91.70 before more upside. It also looks like an inverted head and shoulders is in the work. As 90.60 low holds look for a rally above the 100 figure in...
UPDATE: I shared this count last night via twitter but was to tired to post an idea here. twitter.com The market has completed 3 waves to the downside, where the first wave was a complex triple correction, the second a zigzag as well as the third. As 10.35, and more importantly 10.20, holds, I will expect new highs well above 11.40. You can follow all my...
This pair completed a crab pattern yesterday. I entered short at 1.67667. Looking to take profits at 1.66644 and 1.65483.
The CD leg of the shark pattern has reached the 1.61 retracement of the BC leg. I'm waiting for confirmation of reversal before entering short somewhere between here (~1.389) and 1.40. If the reversal happens sooner rather than later, there is also the possibility of a Gartley pattern presenting an opportunity for a long position somewhere around the 1.3527 support level.
The Dollar Index (DXY), having made a false break to the to topside at the end of last week, has reversed aggressively and is now back below the 200 WMA (79.73) and appears set to test the recent low at 79.26. There is decent support there and again at 79.00-10. However a break of this would head quickly to 78.85 and then to the double bottom at 78.60, below which...
For me all of the signs are pointing to a bounce after the battering the USD has taken this week having tested the late November support line. A mixture of the University of Michigan confidence print at 13:55 (gmt) and people closing their short positions before the end of the day could prove to kick off the bounce.
Friends, At this point, markets seem to have leveled off. In fact, USD started to rally, as it gains strength against most other currencies, except against the EURUSD, whose high of 1.38981 has remained unchallenged even after US markets closed. A look at a reverse correlated USDCHF, my predictive analysis and forecasting system remains neutral for the time...
We are pushing out the actual downtrend. Sign of reversal or just starting a new downtrend ?