After the weak USD on the FOMC we seen a strong correction on NZDUSD but it seems to be pushing back up towards testing the highs. If we get there, we might just break them and then this trade idea would become invalid but if we get up close to there and then see price sell off to the 76 - 86% retracement of the previous swing up, we'd complete a gartley pattern,...
After the completion of a bearish crab pattern, GBPJPY has been consistently making lower lows and lower highs on the 1 hour chart. If it keeps up doing this and retraces back to the next strong looking support level, there are strong risk:reward opportunities in selling bounces of it early in the week if we see them.
S&P has been rallying hard since the US elections, after an initial sharp sell off we have seen a very strong upwards trend. Could this be us approaching another correction in the S&P?
We had a very choppy and fickle price action period in the time around "black Monday", this may have been the formation of our wave 4 and this persistent rally may have been our...
CHF has been on an insane rally over the last while but after forming a head and shoulders pattern on the 4 hour chart we have seen a very sharp fall off in this pair. We may see the selling stop in the 113 area, this is the first big area to look for buys but in the immediate future it seems more likely we can see further bearish momentum in this pair. Selling...
Complimenting our AUDUSD Elliot Wave analysis suggesting we may be about to enter into a correction on this pair, we also have the pair having recently completed a large harmonic butterfly pattern on the daily chart. It is of note that although the pair traded for a short time above the completion level, it did not manage to close above there on the daily chart,...
AUDUSD could be about to start an ABC correction to the very strong up trending move we have seen on the pair. In the wave 5 we characteristically see a very sharp spike and it generally completes in around the 161 extension level of wave 4. This fits in with that criteria.
USDJPY has a very interesting daily chart where if it makes a clear move in either direction, we complete a harmonic pattern. Whether the market rallies to retest the highs or continues to sell off, we have completions with confluence with previous important S/R levels. We will watch and see what way it goes and publish an update on it if it looks likely to give...
EURUSD has been in a very strong uptrend lately and again closed last week very strongly. Any significant pull backs offer good buying opportunities. Here we see a confluence of harmonic continuation patterns meeting with the previous highs, it seems a promising area to look for trades, if it comes back to there before making new highs.
