Aud/Jpy is in final stage of it’s triangle formation. Once pattern is complete, a person can expect a sharp thrust off towards it’s initial target of previous wave 4. For more details of target, kindly visit my previous posts.
Recommendation: short can be build up slowly here
100.85 – ⅓ position…
Added by FxMind on May 21, 2013 at 6:44am — No Comments
GOLD accelerated lower in the last couple of days after a fall through the lower side of a trading channel connected from 1320. So we turned bearish on gold again as we want to go with the current sentiment. In fact, price fell well below the base channel support line yesterday and made a daily close beneath 1400 which is very important sign for a wave three of three sell-off. As such, we think that gold will move even deeper in sessions ahead, towards 1360/65 in the near-term and then even…Continue
Added by Gregor Horvat on May 16, 2013 at 9:00am — No Comments
German, French and Italian Prelim GDP numbers were worse than expected, 0.1%, 0.2% and -0.5%. That’s very bad data which is also evident on the charts as EURUSD is testing 1.2900 level. This level is now key for further declines today, possibly to 1.2800 after also worse than expected EU Flash GDP numbers; -0.2% vs. 0.1%
Technically speaking, we can see EURUSD trading below 1.2936 which means that latest correction is done around 1.303. Now the only question is if we will get sharp…Continue
Added by Gregor Horvat on May 15, 2013 at 9:15am — No Comments
After fluctuating back and forth at the support/resistance level (1.2996 - 1.3188) at the last it falls beyond that range with the expected future target at 1.2876. There is strong chances the Bearish trend should continue further down supporting by formation of Head/Shoulder in the weekly time frame and the falling flags formation in Monthly Time frame. When all other indicators including MACD/Stochastic both synced downwards, this would confirm the bearish continuation.
Added by Investross on May 12, 2013 at 2:56am — No Comments
GBP/USD is forming the bullish setup as mentioned on my earlier post.So Keeping that in mind, we require to have see 1.5700-1.5750 in coming days. Pair already confirmed the bullish idea by breaking the channel out and can label as described in below image. Any long should have stop loss @ 1.5465
On alternate idea, we can expect a flat correction, but the probability of flat correction is very…Continue
Added by FxMind on May 9, 2013 at 4:39am — No Comments
Current price is not bearish at all, at least on my primary count. We might see price trading above 1.56 area. On Alternate idea, we might be in wave 1 of first impulse leg down. But that too is not completed, We only can identified 3 waves. So here is the game plan for gbp/usd.
Case 1: Trading for wave 5 (Primary) Bullish Setup
we will wait…Continue
Added by FxMind on May 8, 2013 at 2:54am — No Comments
Gbp/Usd current price might be part of flat correction of wave 4, and expecting another high above 1.5605 before it having sell off. I booked 29 pips profit and decided to see the reaction here. There are chances on which, pound can drop to 1.52 from current price. But on 240 min, chart, there were no impulse action found. and only way I can count is flat correction.
On NFP day, there were sell off happen,…Continue
Added by FxMind on May 7, 2013 at 12:36pm — No Comments
Aud/Usd is bearish and should stay under 1.0220. Our first target met here, and still looking lower under @ 1.01. Risk can be lowered down here on top of wave .
Written by: ewTrading.wordpress.com…Continue
[EURJPY is testing April trend-line resistance. A break out of the range and through 130.65 would be bullish for the pair.
Written by www.ew-forecast.com
Check our service at…Continue
Added by Gregor Horvat on May 3, 2013 at 3:04pm — No Comments
USDCAD fell sharply lower in this week from 1.0082 where pair formed a top of wave (c) as a part of a very tricky complex correction called an expanded flat. However, we need to respect the current price action which is looking impulsive to the downside. As such, we are tracking five waves down in wave C that could reach parity in the next few days, once corrective wave (iv) finds resistance, ideally around current 1.0100/1.0130 zone.…Continue
Added by Gregor Horvat on May 3, 2013 at 9:02am — No Comments
As per last update, we are in the targeted zone. A zone start from 1.5580 to 1.5620 area. 1.5580 is strong resistance on chart while, 1.5616 is a=c in wave y. I am keeping my sell trigger on, and as soon as I can see reversal pattern on 240 min chart / daily chart, short can be initiated with stop at latest high, 1st target can be 1.52, while second target can be well below 1.48.
Also, started looking for…Continue
USD/JPY is moving in descending channel. Currently testing lower trend line and support at 97.400 - 97.100 zone. Rejection at support zone will provide opporunity to go long as USD/JPY move to trest resistance at 98.125.
Outlook – USD/JPY - Short Term Long…Continue
Added by Sardar Uddin on May 1, 2013 at 8:08am — No Comments
My primary view is bearish on pound.
Monthly chart showing five down from 1.6380 after broken weekly uptrend line. That wave can be counted as wave A of ZigZag correction or wave 1 of large impulse move. As chart is on monthly bases, I still not prefer to count them into impulsive manner, rather can be counted as a swing. And so, my preferred count would be the zigzag correction. As part of zigzag…Continue
Added by FxMind on April 30, 2013 at 1:00pm — No Comments
JPYs had a quiet day for the most part on Thursday but Asian Openn saw some strength in Yen. Currently price has bounced of strong support indicating completion of corrective moves in most JPY pairs. Bulls are losing momentum in JPY pairs but short term look remains to be Bullish. For Intraday Traders Look for Long opportunities with good money management.
Outlook – EURJPY Neutral to Weak …
USDCAD has turned nicely lower in this week which was expected in corrective wave 2 after recent completed five wave rally in wave 1 at 1.0285. Notice that now we have three sub-waves down from wave 1 peak which is a structure of a contra-trend price action. Current price is also testing an important 50 and 61.8% Fibonacci retracenement level, plus a trend-line connected from March highs. With that in mind, that appears to be ideal zone for a new push higher. A minor impulse back above…Continue
Added by Gregor Horvat on April 26, 2013 at 8:05am — No Comments
Quick update, This pair was working well as per last few posts. A risk can be lower down to 102.60, if 102.60 not hold, we might see a new high above 102.90.
Written by: …Continue
In our video yesterday for members we were talking about two possibilities on EURUSD; “Is move from 1.3200 only corrective pattern and we will go higher in the next few days”, or »Do we have a one-two one two very aggressive bearish scenario?”.
For now, I like the one-two one-two scenario if we consider that rise from 1.2954 is in three waves at the moment with nice reversal from 61.8%. An impulsive intra-day decline to 1.2975 would suggest lower prices. In such case we could be…
Added by Gregor Horvat on April 25, 2013 at 8:30am — No Comments
I have very mix view on this pair.
Either we are in the nested impulse count where, we are testing flat correction in  (Red), or either wave [c] (Blue) is over and we might see push higher for 1.54 and 1.5480 area. The reason on which I am looking for alternate count, is the bearish channel was broken, (marked with ellipse), and indicator were bullish.
On top of my earlier morning post, I updated 240min chart with EW labels. Price need to decide which way it need to go. I prefer to be sideline and waiting for either to break.
price either need to break lower blue channel or break Red down trend line. And hence, I decided to banked 46 pips here. On confirmation of either…Continue
Added by FxMind on April 23, 2013 at 6:57am — No Comments
A pair had a top on 105.4. From top, we are in larger wave 4. Last drop was impulse drop and can be counted a first wave in zigzag correction – A. There is very less chance of considering that wave as part of larger impulse move i.e. 1 (marked with red color), but having the probability, I keep that in my daily chart. On 240 min chart, price is well between in the channel, and depend on today close, we find reversal pattern on daily chart.…Continue
Added by FxMind on April 22, 2013 at 8:58am — No Comments