Currency

Currency

EURCAD is in a monthly downtrend. On this 3-month chart, it appears that the pair has a long way to go on the downside for a completion of the C wave. It recently attempted to break to the upside but failed, so the next leg of the impulse is likely in play. In the near term it is expected to correct upward, giving us a nice opportunity to buy before the BIG fall,...

Currency

AUDUSD is in a correction from the recent down trend. Recent price action suggests that this pair is close to its next wave down. I will ignore any move up and wait for the bigger trade.

Currency

GBPJPY is in a correction which ended near the 158 level. It is now beginning on the next leg down as part of a bigger corrective structure. There are plenty of short term trading opportunities as shown in the chart (they are rough represenations only!) . The big trade is ultimately to the downside so keep that in mind if you are a counter trend-type of trader. I...

Currency

Oil has made a U-turn ever since bottoming out back in February. While the move up has been impressive, it doesn't look like a true impulse to the upside. There is a lot of squeezing and forcing taking place. Though I am not a fundamental trader, I do believe this is an example of where fundamentals and technical analysis complement one another. Be on alert on...

Currency

Last week I published a chart detailing a potential flat corrective structure on this pair that would eventually lead price downward. Since then, structure has changed and price action is likely to deviate from the original forecast. Price did not retrace upward to finish the C wave to set up a big move down and instead created a squeeze down. This is evident of a...

Currency

This pair is one of the JPY crosses that's on my radar with a clear direction. After exploding to the downside and making a huge sideway move on the daily TF, price action is signaling weakness in what may be a potential smaller bear flag. Look for divergence on your oscillator on a lower TF as price action approaches the top of the flag and wait for bearish...

Currency

AUDNZD appears to be in a wedge consolidation pattern on a higher TF. After producing an ending diagonal structure on the hourly, price action bounced off the lower wedge trend line and broke the ending diagonal. This may be a good sign that it's about to go back to the top. Let's try to catch this move up!

Currency

Euro appears to be making a daily channel up. Just take a look at the Kiwi and we have an idea of what to expect soon. Dollar index looks downside, so.....

Currency

Dollar index is still in a 480 downtrend. Another impulsive move down still looks probable. The latest uptrend looks eerily similar to the X wave back in February. Look for a bounce in the very near term.

Currency

I can't tell the future, but I did sell the bounce and break. Will this be an ABC or 12345? We'll find out soon enough. Wait for some sideway movements before entering the trade.

Currency

Kiwi has broken its previous uptrend and now is making a complex corrective flat structure. While a triangular pattern cannot be ruled out, a sell at the end of the C wave would still be a good entry. This pair has huge potential after consolidating on the daily TF since August of last year. Watch price action around the .6820s for a good entry.

Currency Updated 

Aussie has been hit quite hard over the last couple of weeks. Yet amid the weakness there is strength building against the Yen. After breaking out of the recent downtrend, this pair is struggling to retrace the impulsive move. The two fibo levels that should be monitored closely is shown. Looking for signs of reversal at those points may yet prove to be great...

Currency

This pair is developing a beautiful impulsive five wave structure back to the downward trendline. The thousand pip question is, is this the beginning of a motive wave up for a complete reversal or corrective for the next huge impulse down? Well...it does not matter for now. We have a short lived short trade at the beginning of next week to complete a complex...

Currency

The second impulse leg has its trend broken decisively. A classic bear flag formation is in the making. Will the bears succeed with the break up before FOMC?

Currency

A few weeks ago I noted that this pair was almost due for a major reversal. We are getting very close to that point. The price action of the individual currencies strongly support this view.

Currency

Over the last few weeks and months, this pair has steadily gone down and defied structure resistances. Just when we thought the reversal was near, this pair kept challenging lows. Finally, it has given a sign that an imminent U-turn lies ahead in this ending diagonal structure. I'm expecting a quick move towards the bottom structure line before a big bounce. Hope...

Currency

This pair made some very messy moves since bottoming out last year. Now with more time, we are able to see its development in a clearer way. Everyone has an opinion on the direction of this pair, yet so far this chart is telling us it is going sideway for at least a while. Let's see how it develops over the next few days and weeks. Happy trading all.

Currency

From my other analysis on the GBPUSD and USDJPY pairs, a rational deduction would be an expectation for the GJ to continue downward. So on the chart, we could clearly see the uptrend broken. After that, a consolidation pattern appeared on this TF that gives us a fair amount of confidence of the direction of this pair. Good luck to all who will be involved in this...