Elliottwave-Forecast

Elliottwave-Forecast

Since forming the low on Oct 26, 2018 low, Nifty has rallied higher and now is challenging the 2018 high (11760.20). A break above 2018 high will signal that the Index has ended the entire correction from 2018 high. A break above 11760.20 will also rule out the possibility of a double correction in Nifty. Our current view anticipates this breakout, but the actual...

Elliottwave-Forecast

IBEX Elliott Wave sequence from 12.28.2018 low remains bullish , favoring further upside. Near term, the rally from Feb 11, 2019 low (8834.3) is unfolding as a zigzag Elliott Wave structure. The first leg of this zigzag wave A ended at 9361.4 as a 5 waves impulse structure. Wave B pullback ended at 9106.97 as a Flat Elliott Wave structure. Down from 9361.4, wave...

Elliottwave-Forecast

Rally in Nasdaq (NQ_F) from December 26, 2018 low remains in progress as an impulse Elliott Wave structure. An impulse structure consists of a 5 waves move. Wave ((4)) of this impulse move has ended at 6965.57. As the chart shows, after forming wave ((4)) low, Nasdaq has rallied higher and broken above March 4 high at 7211.5, confirming that wave ((5)) has...

Elliottwave-Forecast

In our previous Analysis about Oil we suggested that it is on the verge of a breakout. It has now confirmed our view as price extends higher and breaks above March 1 high at $57.88. The production output’s curb by the OPEC members as well as the political upheaval in Venezuela have contributed to the strength in Oil. Technical wise, the sequence remains bullish...

Elliottwave-Forecast

Gold has ended the cycle from August 16, 2018 low at $1347.18 as wave (A). The yellow metal is in the process of correcting the cycle from August 16, 2018 low in 3, 7, or 11 swing within wave (B). Near term, the decline from $1347.18 looks impulsive and ended wave A at $1280.49. The internal of wave A unfolded as a 5 waves impulse Elliott Wave structure. Down from...

Elliottwave-Forecast

EURJPY has ended the cycle from Jan 3, 2019 low at 127.5. We label this rally from Jan 3 to March 1, 2019 as wave ((X)). This means the pair is in the initial stage of turning lower and eventually can break below Jan 3, 2019 low (118.51). At minimum, the pair should be correcting the cycle from 1/3 low in larger 3 swing. The first swing ended at 124.25 on March 8...

Elliottwave-Forecast

Last week the ECB (European Central Bank) has downgraded their economic growth and inflation forecast. In addition, it has announced a fresh stimulus in the form of TLTRO (Targeted Longer-Term Refinancing Operations). This is basically a long term loan given to banks to increase loan creation. If the banks can lend above a specified benchmark, then they will be...

Elliottwave-Forecast

Short Term Elliott Wave view in DAX shows a bullish sequence structure from December 28, 2018 low, favoring further upside. The Index has potential to reach 100% extension towards 11912 – 12157 before ending cycle from December 2018 low. The rally from December 28, 2018 low is unfolding as a double three Elliott Wave structure where wave ((W)) ended at 11321.62...

Elliottwave-Forecast

Short Term Elliott Wave view in EURAUD suggests the rally from February 21, 2019 low (1.5736) is unfolding as a 5 waves diagonal. Up from 1.5736, wave 1 ended at 1.6019 and the decline to 1.5803 ended wave 2. Pair then continues the rally in wave 3 to 1.6072 and pullback to 1.5935 ended wave 4. In the 1 hour chart below, we can see the internal of wave 3 unfolded...

Elliottwave-Forecast

Short Term Elliott Wave view in S&P 500 (SPX) suggests the rally from December 26, 2018 low (2348.50) is unfolding as an impulse. Index has ended wave ((3)) of this impulse move at 2816.88. In the chart below, we can see wave (5) of ((3)) move from 2612.42 low subdivides in 5 waves impulse of a lesser degree. Up from 2612.42 low, wave 1 ended at 2738.98 and...

Elliottwave-Forecast

Short Term Elliott Wave view in Alibaba is bullish with the rally from February 8, 2019 low ($163.58) unfolding as an impulse. Furthermore, the cycle starting from January 23, 2019 low has not reached 100% target, thus still favoring further upside. Near term, rally from Jan 23 low to $171.05 ended wave ((i)) and pullback to $165.09 ended wave ((ii)). Wave (( iii...

Elliottwave-Forecast

Since bottoming at $42.36 on December 24, 2018, Crude Oil (CL_F) has rallied more than 30%. The initial rally to $55.75 on February 4, 2019 took the form of an Impulse Elliott Wave structure. We label this 5 waves rally as wave ((A)) of a zigzag Elliott Wave structure in higher degree. Then the pullback to $51.27 ended wave ((B)) as the chart below shows. From...

Elliottwave-Forecast

Today we will have a look at the EURJPY 1 hour chart After bottoming on January 3, 2019 low, EURJPY shows a sequence of higher high and higher low. We can see from the chart above that it has a bullish sequence and right side higher stamp. This suggests that pair should resume to the upside as far as dips stay above 124.1 (the invalidation level). Rally from...

Elliottwave-Forecast

EURGBP shows a sequence of lower low from August 29, 2017 high, suggesting further downside is likely. The bounce to 0.9105 on January 3, 2019 high ended wave (2). From there, pair declines as a double three Elliott Wave structure where wave W ended at 0.8615 and wave X ended at 0.884. Pair broke below wave W at 0.8615 and confirmed that the next leg lower in wave...

Elliottwave-Forecast

We are counting the entire rally from December 26, 2018 low as an Impulse Elliott Wave structure. An Impulse has subdivision of 5 waves within wave I, III, and V. And wave III is currently in progress. Internal of wave III subdivides in another 5 waves in lesser degree. On the 1 hour chart, we can see wave ((4)) of III ended at 24862 and wave ((5)) of III is...

Elliottwave-Forecast

DAX has broken above February 6, 2019 high (11371.74) and shows a bullish sequence from December 28, 2018 low (10279.20). On the chart below, we put a bullish sequence stamp and right side higher to indicate the direction that we prefer to trade. The correction to 10867.9 low ended wave ((X)) as an Expanded Flat Elliott Wave. A Flat is a 3-3-5 structure with ABC...

Elliottwave-Forecast

The rally from Aug 16, 2018 low is still in progress as an Elliott Wave Impulse structure. We propose the current rally is still within wave (3) from Aug 16, 2018 low as momentum remains strong. Focusing on the shorter cycle, the rally from 1/21/2019 low ($1276.40) is unfolding in 5 waves of lesser degree. Wave ((i)) ended at $1326.30 and wave ((ii)) ended at...

Elliottwave-Forecast

Since bottoming at 2346.58 on December 26, 2018, S&P 500 (SPX) has rallied 18% in less than 2 months. The structure of the rally appears like an Impulse Elliott Wave structure. An Impulse structure is a 5 waves move. The Index is now within wave ((3)) of the possible 5 waves move from December 26 low. Subdivision of wave ((3)) unfolded as another 5 waves of lower...