marcyacoub

marcyacoub

Looking at the 4H chart, GBP/USD broke the descending channel and retested the 61.8% Fibonacci level with a beautiful wicky candle signaling a strong continuation to the upside. SL right below at 1.37718. Expect new highs this year for GBP/USD. My long-term targets are (1.39542), (1.40217), (1.41178), and (1.42402).

marcyacoub

Amazing descending formation for EUR/USD on the Daily Chart! As you can see, EUR/USD broke this falling wedge and now is heading towards new highs as the DXY is showing too much weakness. For now, I expect EUR/USD to retest the 1.18000 psychological level which is also the 50% Fibonacci Retracement level before continuing its way up towards (1.19523), (1.20283),...

marcyacoub

GBP/AUD rejected the 78.6% Fibonacci Retracement level several times with a rising wedge ABCDE formation on the Daily Chart. Seeing a rising wedge pattern means that the price should start its downside movement, and we should be ready to capitalize on the move. Our first target will be the 50% Fibonacci Retracement level (1.78348). Breaking this level will push...

marcyacoub

As you can see, CAD/JPY finished 4 waves up and now it is currently forming an amazing continuation ABCDE pattern for more upside movement. I expect wave 5 to reach the 61.8% Fibonacci Extension level at (88.80). Breaking the 88.80 level will push CAD/JPY to retest the weekly resistance level at (89.20) which will be our second target.

marcyacoub

If you follow me on my other social media platforms, you know that in November 2020 I said that in 2021 the DXY will experience a strong correction to the upside for wave 4. This means that all major currencies will start their corrective cycles in order to reach very attractive levels for us to capitalize on with buying positions and that is exactly what ended up...

marcyacoub

Crude Oil reached a very critical area ($62) and started retracing back down. Looking at the 2H chart, crude oil finished 3 waves down and now we are currently waiting for wave 4 to form. You may have noticed from my posts that wave 4 is usually in the form of a horizontal stage and we can never determine and predict the formation of a horizontal stage. As of...

marcyacoub

Looking at the Daily Chart, we can see that XAG/USD finished 5 waves up and its ABC correction. Also, XAG/USD couldn't break the previous wave 4 which is a very critical level at (24.800), and not breaking it next week will push Silver to begin a new impulsive wave to the upside possibly reaching new highs this time. We have seen new highs for Gold and Bitcoin and...

marcyacoub

I posted a Daily Chart Analysis last week on EUR/AUD and the scenario is working out perfectly for now. Looking at the 1H chart, EUR/AUD finished 4 waves up and what's beautiful in this setup is the triangle (wave 4). For now, we are waiting for wave E in the triangle to form in order to enter a buy position to target wave 5 as our first target (1.5652). Breaking...

marcyacoub

Beautiful formation for AUD/USD. Looking at the Daily Chart, you can see that AUD/USD finished 5 waves up and now it is retesting the previous wave 4 with its ABC correction, and you know that according to the Elliott Waves Principle, the previous wave 4 is known to be a very critical area that's why I am expecting the price to retrace from this area towards the...

marcyacoub

As you can see. USD/JPY finished 3 waves up and now is trading in a beautiful falling wedge which, according to the Elliott waves principle, is considered wave 4. Also, the falling wedge (wave 4) retested the previous wave IV of wave 3 giving us more confirmation for an upside move coming. Our first target for wave 5 will be (110.300) if we take wave 1=wave 5....

marcyacoub

GBP/JPY was rallying non-stop for the last 2 months and I think it is time to see a correction. As you can see, GBP/JPY broke the rising channel and started falling down giving us signs of a great correction for us to capitalize on. Now, we entered a sell position on the small flag to target the 78.6% Fibonacci extension (149.200) which is also a critical level...

marcyacoub

Looking at the Daily Chart, you can see that CARDANO finished 4 waves up and currently forming its 5th wave. You know that we cannot determine the exact length of wave 5 as it can be equal to wave 1, 161.8% of wave 1, 200% of wave 1, or 261.8% of wave 1. In our case here, using the Fibonacci Retracement tool, I expect to see wave 5=200% wave 1 and reach the...

marcyacoub

BTC/USD reached $60,000 last week and a small correction was definitely expected. If you look at my previous analysis on Bitcoin, you can see that BTC/USD reached our target ($60,000) with an ascending channel and very slow momentum. We knew that it will break the ascending channel to retest the previous wave IV of 3 which is a very strong support zone ($54,000...

marcyacoub

From a technical standpoint, US30 finished 4 waves up (grand cycle), and for now, we are trying to determine at what level we're going to see the end of wave 5 and the beginning of a deep corrective cycle or a possible market crash. Using the Fibonacci extension tool from the bottom of wave 2 to the top of wave 3 to the bottom of wave 4, we can see 2 major...

marcyacoub

A critical event next week will be the FOMC meeting. Analysts at MUFG Bank consider that Jerome Powell will focus on the labor market rather than economic growth. Expect to hear much less about GDP from Powell next week and a lot more about COVID-related job losses. 9.21mn jobs need to be refilled to get back to the pre-COVID employment peak in Feb 2020. So we...

marcyacoub

EUR/AUD has been trading inside this falling channel for a while now. Looking at the daily chart, we can clearly see that EUR/AUD finished 5 waves down and started its correction to the upside, so we expect EUR/AUD to break the channel with wave C and possibly cause a trend reversal. Plus, using the Fibonacci Retracement tool, you can see that the price reached...

marcyacoub

Looking at the Weekly chart, we can see GBP/CHF trading at a very high key area around the 1.29250 zone, so we expect at least a rejection from this area. What's interesting is that if you look at the 2H chart, you can see that we reached this area with a rising wedge so our first target will be the bottom of the rising wedge. Also, although I don't use...

marcyacoub

If you look at the 1H chart, you can see NZD/JPY trading inside a rectangle or a horizontal consolidation, between 78.05 and 77.128, and this pattern is known to be a continuation pattern so the gravity is to the downside. Also, we reached 78.05 with a rising wedge and we've been waiting patiently for the break and the retest to enter with a sell order to target...