Over recent weeks there has been a notable pick-up in volatility for a number of major Currencies, including reversals for the US Dollar & Euro following their prolonged advance & decline. The question is, has corrective weakness for the US Dollar & corrective strength for the Euro yet run its course, or will there will further retraces of the previous multi-month US Dollar advance & Euro fall? And what now for the multi-month outlook?
Each week I assess…Continue
Added by Steve Jarvis on March 25, 2015 at 1:02pm — No Comments
EURUSD bears are approaching our wave C)=A) projection level on a weekly chart at 1.0300 so we need to be aware of a possible bullish turn sometime this year. However, we still need to respect the current direction of a trend which is down despite some bounce last week, back to around 1.1000 level. We see that bounce as just another correction within downtrend. We just think that it's more "safe" to label the wave count in the direction of a trend and always be ready for "more" bears in a…Continue
Added by Gregor Horvat on March 23, 2015 at 8:20am — No Comments
EURUSD moved 5 waves up. Wave 2/B is in progress, if the corrective channel resistance hold. Major currencies are still bearish against USD. Invalidation level for EURUSD is the latest low. Today FED will clear up a lot of air for future developments.
EURUSD 30Min Elliott Wave Analysis…
Added by Gregor Horvat on March 18, 2015 at 9:06am — No Comments
EURUSD is trading sharply lower since pair broke the lower side of a triangle pattern placed in fourth wave. Notice that market is now even accelerating down since Friday, so we believe that current leg down from around 1.1220 is an extended wave 3) that can be looking for some support at around current Fibonacci support levels. As such, we think that pair will stay bearish after any bounce, and that would be only fourth wave rally within wave (5). Ideal resistance for coming fourth wave is…Continue
Added by Gregor Horvat on March 11, 2015 at 9:45am — No Comments
Week Ahead: Forex Markets Analysis - EUR/USD, USD/JPY
When we look at the currency markets, some relatively clear trends have already made themselves obvious in the early parts of this year. The strongest of these trends has been the bullish activity in the US Dollar, which has presented itself against nearly all of its major trading counterparts. It can be argued that there is a wide variety of reasons for why this is occurring. First on…Continue
EURUSD broke through 1.1260 support last week with a strong decline and weekly close outside of the range, so we assume that corrective blue wave (4) is now finally complete. If that's the case then it was a triangle placed in wave (4) so market is expected to continue much lower in sessions and days ahead. We anticipate five wave decline to a new low, probably to 1.0800-1.0940 area. In the short-term pair can retest 1.1260 to complete wave 2).
EURUSD 4h Elliott Wave…
Added by Gregor Horvat on March 3, 2015 at 8:00am — No Comments
URUSD broke through 1.1260 support after strong decline yesterday with a daily close outside of the range, so we assume that corrective blue wave (4) is now finally complete. If that was the case then it was a triangle placed in wave (4) so market should then continue straight down in sessions and days ahead. We anticipate five wave decline to a new low, probably to 1.0800-1.0940 area.
EURUSD 4h Elliott Wave Analysis…
Added by Gregor Horvat on February 27, 2015 at 8:24am — No Comments
Added by Andrius on February 23, 2015 at 10:36am — No Comments
euro advanced today somewhat and this counts as peak of minute wave 4 and end of this double zigzag corrective pattern. Next i am looking for this pair to start declining for minute wave 5 downward and towards minute wave 3 peak at 1.1098. at the level 1.094 minor wave 5 will be 1.618 times minor wave 3 and that level is one possible target for this to bottom.Continue
Added by Ville Vainio on February 17, 2015 at 3:59pm — No Comments
The FX market did not change much recently, well maybe just some JPY pairs that are driven by USDJPY because of lower US Bonds since NFP report release last week. On USDJPY we see room for more upside in the short-term as latest minor set-back looks like a fourth wave so it should then belong to an incomplete impulse from 118.30. Ideally price will rally up to around 120.70.
USDJPY 1h Elliott Wave Analysis…
Added by Gregor Horvat on February 12, 2015 at 8:45am — No Comments
Euro has been a very weak currency against all major forex pairs for the past few months and some cases much longer than that. Against GBP there has been a relentless bear market for 6 years! How long will this euro decline going to last? is euro going to be worthless currency in few years?
Fundamentals are not in great shape in the euro area. Conflict in Ukraine and the friction with Russia is weighing Euro area economy. Greece has again merged to the headlines with yet new demands…Continue
Added by Ville Vainio on February 11, 2015 at 5:42pm — No Comments
US dollar has been very strong for months now but i think this trend has reached it's limit. Let's look at few dollar pairs and their recent price action.
usd/cad has turned bearish while ago and is continuing it's downward trend today.
Here's a video forecast about recent…Continue
Added by Ville Vainio on February 10, 2015 at 4:30pm — No Comments
EURUSD sold-off from 1.1500-1.1540 resistance area that we highlighted it yesterday. We can see that price already made slight move beneath he channel line which means that wave 4) probably accomplished a corrective set-back. More importantly, downtrend remains in play with five waves underway into a red wave 5) that can be targeting 1.1000 this month.
EURUSD 4h Elliott Wave Analysis…
Added by Gregor Horvat on February 5, 2015 at 8:59am — No Comments
The USD down is moving slightly down but the question is for how long as we see several corrective price action across the FX charts. On EURUSD market made a three wave bounce as expected, about we talked about yesterday when called end of an extended wave 3. Well, market retraced close to our resistance area so new bearish turn can be around the corner. We are expecting a drop down into wave 5 that can decline even to 1.1000 by the end of the week. On the upside invalidation level stands at…Continue
Added by Gregor Horvat on January 27, 2015 at 11:03am — No Comments
Cable is at new lows as expected after we recognized a corrective pattern just above 1.5600 back in December. Pair fell sharply since then, clearly in five waves with current price already in fifth wave which means that sooner or later pair can turn into a correction. Ideally, we will see a retracement back into the wave (4) before pair can go even lower, then to 1.4500 area.
GBPUSD Daily Elliott Wave Analysis…Continue
Added by Gregor Horvat on January 26, 2015 at 9:13am — No Comments
EURUSD sold-off beneath 1.4 following ECB decisions regarding QE. We see pair in strong impulse down from 1.1680 that can be fifth wave, but that's not important at the moment. Important is the substructure of a current decline! We need five waves down which is not the case yet to be aware of more weakness in sessions ahead, close to 1.1150/1.1200 as long as 1.1562 invalidation level remains in place.
EURUSD 4h Elliott Wave Analysis…Continue
Added by Gregor Horvat on January 23, 2015 at 8:23am — No Comments
Markets are still very slow across the board because of the holiday yesterday in the US. However, this may change today as normal volumes should be back. Based on USD view, we still see currency trading higher with more gains in view if stocks will continue up.
On EURUSD we have seen a bounce, but not so aggressive, not even impulsive. In fact, market slowed down at former wave four so new reversal could follow to the downside especially as EURUSD rally occurred during lower…
Added by Gregor Horvat on January 20, 2015 at 10:20am — No Comments
EURUSD has completed a triangle in mid-2014 around 1.4000, from where we have seen a strong bearish reversal down into big wave C) as expected. Wave C) is part of a three wave set-back from 2008 highs that could be targeting levels at 1.1300 or even 1.000 before market could be looking for a bottom. But keep that any five waves of recovery in a larger degree, from beneath 2010 lows, will put pair back in bullish mode.
EURUSD Weekly Elliott Wave Analysis…Continue
RECORDED LIVE: Today we cover EUR/USD, USD/JPY, USD/CAD, GOLD and OIL. We also discuss the importance of having a trading bias before you even look at your charts... for planning your trade setups and to reduce risk. A binary option setup was also discussed to hedge a spot forex setup for USD/JPY at…Continue
Added by FX BOOTCAMP on December 31, 2014 at 3:00pm — No Comments
EURUSD has been falling sharply for the last couple of months and forming an extended decline from 1.3700 which we think it represents wave 3) within a larger bearish trend. As such, current recovery from the lows is just another correction within ongoing weakness. We see it as a wave 4) of a higher degree that may stop around 1.2800-1.2900 area.
EURUSD Daily Elliott Wave Analysis…Continue
Added by Gregor Horvat on October 14, 2014 at 8:30am — No Comments