USDCAD moved sharply up from 1.0628 two weeks back which can be wave (iii) of a new bullish impulsive cycle. The reason for bullish view is also current slow price action around 1.0730 that has characteristics of a corrective move within uptrend. ideally it's wave (iv) as part of wave 1 that may reach level around 1.0800 in the next view days.
USDCAD 4h Elliott Wave Analysis…Continue
NZDUSD made five waves of decline from 0.8834 high, which has been high for the year so far. Well, this peak may stay there for some time now as impulsive decline like this confirms a change in trend. With that said, we see NZD in bearish mode now, meaning that we will be looking for even lower levels after any corrective rally. The first (a)-(b)-(c) recovery can already be unfolding now back to 50-61.8% retracement level from where we will pay attention to downtrend continuation signs and…Continue
EURUSD has turned lower at the start of the month from around 1.3700 where we see a completed three wave rally on the smaller time frames. Three wave patterns are corrective within ongoing trend so we believe that EURUSD will continue to fall in coming weeks, maybe even back to 1.3290 after a decisive push through 1.3500 low that is now being testes. With that said, it appears that EURUSD has accomplished an ending diagonal near to 1.4000 a few months back, so fall could be quite strong in…Continue
USDCHF broke to the upside in this week, above 0.8955 and extended gains with accelerating price action to 0.8980 that can be wave (iii) as part of a new five wave bullish cycle. In that case we see room for a push up to 0.9050/0.9070 area that can be reached by the end of July. In the meantime pair must stay above 0.8897 invalidation mark, otherwise swings will go sideways and complex.
USDCHF Elliott Wave Analysis…Continue