Veejahbee

Veejahbee

Hi traders, The AUDJPY reversed from a key resistance level and broke out of an ascending trendline and support level. . Currently, the price seems to be building a three-wave ABC zigzag corrective pattern labeled wave 2, and it has the potential to move further lower towards the 75.968 and 75.000 support respectively. . We will wait for the breakout of the blue...

Veejahbee

Hi Traders, Following up with EURNZD forecast I shared last week, this pair is moving as planned, and it is about to complete three-wave ABC zigzag corrective phase "blue" after a five-wave impulsive move that breaks out of descending trendline and resistance level. . The ABC zigzag whose the C leg is most likely to terminate at 38.2 Fib level that lined up with...

Veejahbee

Hi traders, The AUDNZD made a bullish rejection candle at a double bottom level on a weekly support zone. . This pair is currently building a major Elliot Wave triangle corrective pattern after a major five-wave bearish impulsive move. . According to Elliot Wave principle, a triangle consists of 5 corrective waves (ABCDE). AUDNZD has already completed the wave...

Veejahbee

Hi Traders, The EURNZD seems to have completed a minor ABC zigzag correction within a major ABC zigzag pattern. . The price is currently reversing from a key support level and has the potential to move up towards the ascending channel resistance. . We will wait for the price to trade above the blue Counter Trend Line with a five-wave impulse, and then we will...

Veejahbee

The GBPNZD broke out of support level that lined up with ascending trendline with a five-wave impulse labelled wave 1. . Currently, the price seems to be building a three-wave ABC zigzag corrective pattern labeled wave 2. The wave (c) of 2 "blue," is expected to terminate between 38.2 and 50.0 Fib ratio. . Considering that the Fib ratio is lined up with moving...

Veejahbee

Hi traders, The EURCHF reversed from weekly support and broken out of descending trendline and key resistance level. . Currently, the price is making a bearish correction to retest the broken resistance level that lined up with moving averages and 50.0 Fib ratio level as support. . EURCHF bearish correction which unfolding as ABC zigzag pattern is probably a wave...

Veejahbee

Hi traders, The GBPJPY seems to have completed ABC zigzag corrective chart pattern, which could indicate a continuation of the uptrend. . GBPJPY bearish correction is probably a wave (iv) of a larger impulsive wave 1. Considering that the price has breaks above the blue CTL after rejecting a swing level that lined up with moving averages and 38.2 Fib ratio; we...

Veejahbee

Hi Traders, The EURCAD reversed from a weekly resistance level and made an impulsive move lower with extended 1st wave. . The price seems to have completed a shallow ABC flat pattern at 23.6 Fib ratio which is most likely wave 2. . Considering that price has rejected from a dynamic resistance (moving averages) and breached the low of wave b of 2 (blue), we will...

Veejahbee

Hi Traders, The NZDCAD reversed from a weekly descending trendline that lined up with horizontal resistance level and made an impulsive move down "Wave W," which broke out of ascending trend line and support level. . This pair has retested the broken zone and seems to have completed building bullish ABC FLAT corrective chart pattern "Wave X," which could...

Veejahbee

Hi Traders, The AUDCHF reversed from a major descending channel and horizontal support level and made an impulsive move higher labeled "Wave 1 or A," which broke out minor descending trend line and resistance level. . This pair seems to completed building bearish ABC zigzag corrective chart pattern labeled "Wave 2 or B," at an important confluence level which...

Veejahbee

Hi Traders, The USDCAD reversed from a key resistance level and made an impulsive move "Wave 1 or A" which break below weekly support level and short term ascending trend line. . Currently, the price is retesting the broken support level that lined up with 38.2 Fib ratio and moving averages as resistance. . Considering that the price is about to complete the...

Veejahbee

Hi Traders, The AUDCAD has broken out of the major bullish corrective structure Counter Trend Line (CTL) after it retested the H&S neckline that lined up with 50.0 Fib ratio, descending trend line and moving averages. . Considering that the price has also broken the CTL of minor consolidation correction which retested the major Counter Trend Line...

Veejahbee

Hi Traders, The AUDNZD has broken out of the bullish ABC zigzag corrective chart pattern within a larger downtrend. . The pullback which retested the broken descending trend line, 38.2 Fib and resistance level is most likely part of Minor Wave 4 "blue," which could indicate a continuation of the downtrend. . The first target is support level @ 1.0378 and main...

Veejahbee

The ETHUSD completed ABC correction and bounced at $82.00 psychological level after the Major bullish impulsive 1-5 wave. . Price has then reversed to start a new impulsive move which can be major wave "C" or "3". . Currently, the price seems to have completed Minute Wave 2 corrective structure which unfolds as a regular flat pattern at a significant swing level...

Veejahbee

Hi traders, The USDNOK reversed from a resistance zone and breakout below the ascending trend line and support level. . Price seems to be building a bullish retracement which is probably part of a wave 4 of a larger wave A. . Price has the potential to make a bearish bounce at our confluence level as planned on the chart which could indicate the continuation of...

Veejahbee

Hi traders, EURCAD made a critical bearish breakout below the daily support level and ascending trendline. . The daily candles close below this level signals that the bears remain in control. . Currently, the price is building a bullish retracement within this downtrend. The pullback is most likely part of corrective wave 2 pattern, which therefore could see a...

Veejahbee

Price is trending up in a clear 5-wave structure. . Price broke out of resistance level and completed impulsive wave 3. . Price is currently retracing back to retest the broken level and has the potential to move up towards the resistance level. . To take advantage of this setup, we will have to wave for the completion of the corrective Wave 4 at our confluence...

Veejahbee Updated 

Price broke out of the ABC correction counter trend line which is also the neckline of a double bottom pattern. . Price has the potential to move towards the resistance level after it broken out of the correction with an impulsive wave 1-5 and retested the broken structure with an ABC zigzag pattern. . Considering that the price has broken out if the ABC zigzag...