$SXY: Swiss Franc Outlook #elliottwaveHey traders, here's another index outlook. I like both the Franc and the Euro long if we can break recent highs. This would be an indication of continued bullishness toward completion of a triangle on the 1H.
Wavecount
Short at Wave-(ii) through ((c)): #elliottwave #ewHey traders, I like the bearish impulse we're seeing here out of the channel breakout. Bearish channel support is a nice place to short. Good reward/risk if the price action is right. Cheers
GBPJPY #EW Short Wave-c: Toward Bat CompletionHey traders, looking for a rebound to short during the Asian session. Taking profit around completion of the bullish bat if the trade should trigger and price action suggests it. Cheers
GOLD Outlook + Wave Count: Cypher completeWe have a possible leading diagonal followed by a breakdown into the completion of a cypher pattern. Price clearly makes a reversal at the cypher's completion, however since the bearish impulse in leg D is relatively strong I will be on the sidelines until further clues present themselves.
AUDNZD EW: Potential Zig Zag Short Opp.The pair has broken and re-tested its channel. The bearish impulse nods toward a potential zig zag with a nice risk to reward.
USDCAD Wave Count: Long @ Potential ((1))-of-iiiHey traders, coming in with an update on USDCAD and a trade on possible wave count with a >2:1 reward/risk ratio. I like the impulsive bullish move toward a potential five wave impulse to complete wave-((b)). After this move, should it complete, I want to look for shorts through a possible ((c))-wave which should be substantial and powerful. Cheers
USDJPY: Health Care Bill Vote - What to Look For?It's been a choppy market lately as indecision sets in over the GOP Health Care Bill vote. Originally scheduled for Thursday, the vote has been pushed back to 3:30p EST today (Friday). If the vote is held it may come as a surprise to some since there is rumor of Paul Ryan nudging Trump toward cancellation to avoid potential failure since he is "lacking republican support". If Trump cannot secure the win, we may see further downside on this pair. We may also see potential downside if the vote is cancelled or further postponed. As for the technicals, the pair seems to be basing in a symmetrical triangle in the midst of wave-(e). This could potentially be the final bullish move before another large drop so I'll be keeping my eye out for a short. If the pair breaks wave-(c) resistance we may see the pair rally. I am trading the downside scenario only. Stay tuned and cheers
USDCAD Long: More Bullish Correction Likely, Wave-(C)Hey traders, at this hour USDCAD doesn't have much energy in the tank to rock on these huge breakout continuations. Also, the wave structure is not indicating a continued bearish impulse just yet. We may have a nice long opportunity at the completion of the bullish bat. Cheers
EU --> has the bull market started? -if the monthly candle closes below 1.034, this pair could possible move down to around 0.9595.
-alternatively a monthly candle close above 1.1714 may indicate the first wave of a bull market
USDCAD EW Count: FOMC + Powerful Wave(c) = Bulls Hold on Tight!Hey traders, huge bearish move out of the USD as we saw a .25% rate hike which may have already been priced into the market. There should be some more downside ahead as this will likely be a five wave impulse. I am already short, but I will be adding to my position if wave-iv-of-(c) provides a nice flat base. Cheers
AUDNZD Wave Count: Poor Employment May Yield Big CorrectionHey Traders! Big upset here with the employment announcement out of Australia. We had a nice long trade at the bull flag breakout earlier this week and it may be time to see a big corrective move. So far, I like the impulse down. Trade is active. Cheers
Previous Flag:
EURNZD end of the previous projectionProbable end of the previous movement, we hit the L3 UP, nice M formation on the top, ready for short soon. Same pattern of EURAUD
EURAUD level 3 up reached, short move already startednice 3 push long on euraud, ready to change direction
USOIL Short: More Downside AheadWe saw a vicious impulse last week and there isn't an indication of slowing. The next major support zone is around 45.50.
FTSE100 Wave Count: Potential Ending Diagonal?Unlike the Nikkei and SPY, the FTSE100 is less decisively bullish. It looks as though we may be in the midst of an ending diagonal that may present a selling opportunity. For now, I am cautiously bullish but on the sidelines until further signals present themselves.
AUDUSD Wave Count: Selling Next ImpulseWe have a potentially completed triangle on the longer timeframe and a few consecutive bearish impulses coming off of it. I want to sell the next one if it should occur. Keep an eye on the 500 level near support for a potential target.
AUDNZD Wave Count: Long on Pot. Flag BreakoutTrends like these are excellent opportunities. The momentum is up, and we have a nice sideways correction to provide support if the pair breaks out. This is on the watch list for the week.
AUDJPY 4H Choppiness: Look for Harmonic PatternsThis sideways corrective structure on the 4H makes for great entries into harmonic patterns on 15m and 1H charts. Look for upcoming patterns such as the butterfly and cypher as shown. There will likely be more presenting themselves as the week plays out.
AUDCHF Wave Count: Channel Breakout + RetestNot a very clear picture being drawn on this pair as we have a few factors playing for both bulls and bears. I'll be waiting on the sidelines for either a triangle breakout or further drop past the dotted S/R level.
AUDCAD Wave Count: Sideways, Potential TriangleHey traders, we have an eventful week coming up. I expect some sideways corrective structure prior to Wednesday. Keep an eye on the triangle and the Gartley PRZ to provide potential resistance.
