jdemunter

jdemunter

Looks like the euro is ready to go higher against the us dollar. The larger EW count has a bullish triangle alternative count (green labels). On the smaller timeframe we can see a nice flat where wave b is a triangle and wave c is 1.618 times the size of wave a. From this, a small 5 waves up can be counted but this is still early.

jdemunter

On the weekly chart we can see that from the 1.72 top there are 7 waves down. 7 wave patterns are corrective. The EW corrective wave pattern here is a double three. Inside this double three, waves (W) and (Y) are double threes on their own. Interesting to see is that all waves Y ( on 2 different degrees ) are 76.4% of the waves W before them. Beware when you...

jdemunter

There is a triangle possibility for eurusd. This can still transform into another corrective wave but the direction will be the same. 1.1123 is the limit for the triangle count. Best of luck!

jdemunter

Not much is happening in this pair and it seems price will grind higher slowly to eventually reach 1.1768. As for the EW count there are several possibilities. The one presented is the double three (wxy) count. However, with all the internal wave structures being corrective waves on their own plus the range the pair has been in, a triangle cannot be excluded....

jdemunter

Looks like the corrective wave wasn't complete and another leg was added inside wave Y of B(circle). I do not expect the low of 99.54 to be broken on the fed event later today.

jdemunter

The BoJ event finished a double three corrective pattern in usdjpy and price is now ready to go higher. Look for a break of the trendline for confirmation of the uptrend which should eventually go above 104.30.

jdemunter

The correction is over and higher prices are expected.

jdemunter

With the BoE sending gbp lower today, this might have been the last push lower needed for gbp to reverse higher against jpy.

jdemunter

Euro vs the US Dollar has been in a range for over a year now. Looks like EW suggests price is ready to test the high (even exceed) of the range.

jdemunter

The pattern from the top is complete and usdjpy is ready to go higher. 2 possibilities here are for the 125.57 high to be broken and the low is in place or the corrective pattern from the 125.57 high is not yet complete and will transform into a bigger corrective wave. The direction for the short term is the same. Good luck !

jdemunter

Silver vs US dollar had a complex double three from the december '15 low which seems finished now.

jdemunter

The last count failed, so i adjusted the count for a bigger corrective wave. Not the most beautiful count but looking at the price action, a top could be forming.

jdemunter

Most people are looking at eurusd and see a triangle, while not invalid, i prefer the double three (wxy) count suggesting higher prices for now at least. I base this on the blue trend line, which has been broken and retested. After this corrective wave is finished, price action will have to be watched to know if this is part of a bigger correction up. Look for...

jdemunter

A short term top in oil

jdemunter

I was looking for a retest of the 115.50 - 117.50 zone, but there is a possibility of a triangle here. The size of this triangle is very small compared to the size of wave A(circle). If this is not triangle wave B(circle) it is probably still part of wave A(circle). Bullish alternative has 114.87 broken to the upside as a double three (wxy) from the 110.96 low and...

jdemunter

Since the top price has declined in a corrective way. A first wave of this corrective wave is now finished. Look for price to retest the former support now resistance zone around 115.50 - 117.50. After this retest, look for price to continue the trend down.

jdemunter

In the previous post i was looking for a big move up, but price went lower instead. Price is now again at an interesting level. In the count above I have price from 62.56 in a double three with both legs equal ( most common in double threes = 100% or 76.4% ) where the decline itself is part of a last leg inside a bigger double three from 114.95. Here however wave...

jdemunter

Price has followed the projected path as expected and is now looking for a small corrective decline to form wave 2 of C. After this comes the big wave up, wave 3. 29.44 is key level, if broken, the 5 waves up as wave 1 is invalidated.