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
If 1.3147 resistance level holds on Hourly basis we can expect Fifth wave downside. Target's 1.3112 and 1.3083.Continue
Added by Thangadurai on September 3, 2014 at 8:00am — No Comments
Bank of America Merrill Lynch - "€/$: We are bearish and short. The impulsive, intra-day decline from the Jul-01 high at 1.3701 says the medium, potentially long term, bear trend is resuming after a 2 month hiatus. Initial targets are seen to 1.3212 (swing target) ahead of 1.3104 and then the 1.2777/1.2685 zone and eventually below. Our bearish view would prove incorrect on a move above the 1.3701, Jul-01 high."
Added by Francesc Riverola on July 9, 2014 at 9:30am — No Comments
A break of 1.3580 may setup a test of the 1.3500 level.
Closing above the 1.3695-1.3705 level may setup a test of…Continue
Added by Futuristic on July 4, 2014 at 4:06pm — No Comments
TD Securities - "Thin conditions through the month, quarter and half year-end have helped produce a pop higher in EURUSD in today’s session to test a band of resistance in the upper 1.36 area—1.39 double top breakdown point (April low), early June high, top of the June channel, 40 & 200-day MAs and 38.2% retracement resistance from the 1.39/1.35 drop. Trend momentum studies do not show a lot of directional intent on the daily and weekly charts at the moment. That suggests it may be…Continue
Added by Francesc Riverola on July 1, 2014 at 2:05pm — No Comments
EURUSD has turned bearish at the start of the week and fell to a new swing low on Wednesday when market found a support at 1.3773. Notice that from that low pair turned impulsive to the upside, slightly above wave b) swing high which suggests that a three wave set-back from, 1-3904 is complete and that pair is heading to new highs of 2014.
EURUSD 4h Elliott Wave Analysis…
Added by Gregor Horvat on May 2, 2014 at 8:00am — No Comments
Royal Bank of Scotland - "What drives EUR higher is potentially some combination of: a late flood of money into Southern Europe; tightening liquidity in Euro zone money markets unless/until ECB actually eases; a robust Euro zone current account surplus; and the possibility of more reserve manager diversification demand for EUR.
(...) A global FX pain trade for the next few weeks is still EUR/USD higher to/through 1.40. (...) Any EUR/USD upside over coming weeks is likely to be limited…
Added by Francesc Riverola on May 1, 2014 at 10:08am — No Comments
EURUSD has turned slightly lower in this week from around 1.3880 which makes decline from 1.3900 more complex than on the first place but still corrective. We are looking at a three wave pullback now to to 1.3760 area where pair could be looking for a base and new turn to the upside. Keep in mind that larger trend is bullish since pair reversal up from 1.3671 at the start of April so we think that sooner or later that direction will resume.
EURUSD 4h Elliott Wave…
Added by Gregor Horvat on April 30, 2014 at 7:05am — No Comments
EURUSD has turned bullish after a completed triangle pattern in wave B). Ideally price is now in wave C) that may reach levels even around 1.4200 if we consider that wave C) may unfold in extended five sub-waves. With that said, there is room for even stronger EUR in the next couple of weeks while 1.3640/1.3700 support zone is not breached. From a bigger perspective, we think that EURUSD is moving in to the final stages of a complex corrective retracement in wave E, and that trend will turn…Continue
Added by Gregor Horvat on April 26, 2014 at 5:55am — No Comments
EURUSD has turned bullish at start of the month from 1.3670 where we called end of a double zigzag. From there market recovered clearly in impulsive fashion through the upper trendline of a corrective channel which is very important sign for a change in trend. In fact. even a decline from latest swing high is in three legs at the moment and approaching 61.8% Fibonacci level where we expect a new turn to the upside. Ideally market will revisit 1.3900 in this week, while 1.3671 low is now…Continue
Added by Gregor Horvat on April 25, 2014 at 6:31am — No Comments
Interestingly, the EURUSD is moving up with US bonds and not falling with the S&P. At the moment we do not see any shift of that EUR uptrend so we will continue to look higher. Pair however gaped lower, but most likely only pulling back within a corrective retracement. 1.3790/1.3800 looks like a nice technical support from where uptrend may resume.
EURUSD 1h Elliott Wave Analysis…
Added by Gregor Horvat on April 14, 2014 at 10:33am — No Comments
EURUSD moved even higher yesterday, up to 1.3870 which makes first impulse from the low more extended than firstly anticipated which just confirms the fact of a very strong bullish sentiment. However, nothing moves in straight line, pullbacks will always occur, and the first deeper one could already be unfolding. We may see wave (ii) retracement back to 1.3780 region before uptrend resumes. In either way trend is now clearly bullish as long as 1.3671 stays in place, while any downward…Continue
Added by Gregor Horvat on April 10, 2014 at 9:34am — No Comments
1 # EUR/USD sell @ 1.3782 / TP 1.3650
2 # GBP/USD sell @ 1.6647 / TP 1.6528
3 # USD/JPY buy @ 102.65 / TP 103.85
4 # EUR/JPY buy @ 140.98 / TP 142.15 (+6pip)
5 # USD/CHF buy @ 0.8845 / TP 0.8965
6 # AUD/USD sell @ 0.9327 / TP 0.9241
7 # USD/JPY buy @ 102.06 / TP 102.60
8 # GBP/USD sell @ 1.6728 / TP 1.6660
9 # GBP/USD sell @ 1.6776 / TP 1.6730 close earlier…