EWS

EWS Updated 

The resent strength of the Chinese Yuan has cached the headlines lately, but my Elliott wave count suggest that the correction in wave (B) could be coming to an end in the cluster-area between 6.3625 - 6.3928. As wave v of c of (B) has been the extended wave, we should expect a quick reversal once the low is in place. Short-term a break above 6.5566 will be the...

EWS

USD/JPY has been correcting in wave 2 since the 118.67 high in mid-December 2016. This wave 2 correction completed at 107.30, just above the 61.8% corrective target at 106.85. Wave 3 higher is now developing and should continue to higher towards at least 126.41 and more likely extend higher to the 161.8% extension-target of wave 1, which is seen at 138.23. Third...

EWS

Bitcoin is currently correcting in wave 4. My preferred count for wave 4 is, that a running triangle is developing. Wave C is currently unfolding and should see support near 3,300 for a rally in wave D closer to 4,378 or slightly above. Before turning lower in wave E to complete wave 4 and setting the stage for a strong rally in wave 5. The ongoing decline in...

EWS

In my September 8 - 2017 post I said, that the correction in wave (B) from 6.9633 was coming to an end. The actual low for the (B) has proved to be at 6.4355 on that exact day. The rally that has followed has been both strong and impulsive. We still need a break above 6.5566 to confirm that the low has been seen, but it should just be a matter of time before a...

EWS

Crude oil is just a split hair from confirming that the triangle consolidation in wave B is complete and wave C higher to 67.20 is developing. A break above minor resistance at 49.42 will be the first strong indication that wave B has completed and wave C higher is developing, while a break above the top of wave D/ at 50.43 will confirm the expected rally higher...

EWS

USD/CAD has seen a nice impulsive decline from the May high at 1.3794. This impulsive decline is coming to an end near 1.1925 and marks the end of wave 1/ of 3. Once this wave 1/ decline is complete a corrective rally towards the top of wave iv of one lessor degree at 1.2778 is expected. A rally back to the top of wave four of one lessor degree is a very common...

EWS Updated 

GBP/JPY is now breaking the long-term resistance-line near 144.10. A break above this resistance-line confirms continuation higher towards 147.90 and above here confirms a rally to at least 161.03.

EWS

NZD/USD continues to rally nicely within the large ascending trend-canal. A break above resistance at 0.7337 will confirm that wave iii/ of iii towards at least 0.7872 is developing. Support is now seen at 0.7215, which should be able to protect the downside, for the expected break above 0.7337.

EWS

CAD/JPY has been locked inside a huge triangle consolidation since November 2007. Wave (A) decline from the high of 125.56 to a low of 68.37 in January 2009. Wave (B) was a time-consuming zig-zag that rallied from 68.37 to 106.51 in December 2014. From this high wave (C) lower to 74.82 followed and since that low wave (D) higher to 96.92 has been developing....

EWS

USD/SGD - Closing in on strong support near 1.3300 It has been a while since I last updated USD/SGD and as it's close to strong support near 1.3300 it's about time to do so. USD/SGD saw a nice five wave rally from the August 2011 low at 1.1994 to 1.4546 in January 2017. The following decline from 1.4546 is clearly in three waves and is now closing in on strong...

EWS

Brent Crude Oil bottomed at the modified Pitchfork support-line near 27.00 and has since rallied nicely higher. Brent Crude Oil is now break the resistance-line from the May 2015 high at 69.59, which calls for a continuation higher towards 70.00, which also is where the pitchfork resistance-line is seen in mid-December 2017. Depending on the price-action after...

EWS

This is just a correction of my count on the September 7 post. I saw that my annotation for wave Y was off and I have corrected it, but the outcome remains the same. A top is in place for a decline towards at least 2.48. Yesterdays strong decline of 3.45% adds confidence in this count. The big question is, whether a third zig-zag rally is seen from 2.48 or a...

EWS

On August 18 2016 I called for a rally higher to 2.64 in wave iii. Along the way the structure changed, but the expected rally higher to 2.64 was still spot on. Now a little more than a year later, copper is topping near 3.12 and it should just be a matter of time before a decline to at least 2.83 and likely even closer to 2.48 is seen.

EWS

Since my last update on June 23 - 2017, we saw wave 3 bottom at 12.53, which was just below the expected 12.67 target. Since this low wave 4 has been unfolding as a flat correction. I'm looking for wave 4 to complete in the 15.54 - 16.03 area for the next impulsive decline in wave 5 towards 9.98. Stay tuned for a top and new impulsive decline soon.

EWS

I'm looking for wave 3 to complete at 12.67, where wave v of 3 will be 61.8% the length of wave i thru wave iii subtracted from the top of wave iv. It should just be a matter of time before wave 3 completes and a corrective rally in wave 4 takes over. As the correction in wave 2 corrected a large part of wave 1, we should expect wave 4 to only correct a minor...

EWS

It has been a while since I last updated my count on Feeder Cattle. In my update from August 8 - 2016 I called for wave (A) to be in place at 134.25. The price-action that followed, doesn't really support wave (A) having completed and therefor, the preferred count has been changed, to this count, which shows that only wave 3 completed at 134.24 and the ongoing...

EWS

The strong rally of support at 134.90 is very encouraging for the impulsive count from 111.05. The next upside targets to look for is seen at 162.95 and 178.95, but the long term target remains at 233.80 as a huge flat wave is unfolding. Only from 233.80 is the next strong decline in wave expected to take over for a long term decline to below 100.95.

EWS

My preferred count shows that copper saw an important low in mid-January at 1.9355 and a strong rally higher towards 2.6410 now should be expected. From the 1.9355 low a nice five wave rally was seen to 2.3235 as wave (i) and wave (ii) was clearly a three wave zig-zag correction that completed at 2.0130. Wave (iii) started to move higher from 2.0130 in a pretty...