Someone said that those who are patient usually get the largest piece of pie. I don’t know if it’s true, I always thought that the quickest get the largest piece, but it’s not always like that. In forex you can’t rush, especially when making trade decisions and analyzing the market. Right now we are seeing some kind of rertacement and as today is a new week, this vague hourly euro…

EURUSD once broke lower on Friday and hit 1.2800 level that we were focusing on already a week back. Now we can count five waves down in wave 3 from 1.3195 peak which means that bottom could be near. Notice that price also tested 200% extension level of wave 1 measured from wave 2 high which could also react as a support in wave 3. With that in mind, EURUSD could make a corrective bounce this week in wave 4, back to 1.2935 before new sell-off occurs. If 1.2800 is out then watch out for the…

GBPUSD reversed sharply lower in the last few days with a daily close price beneath the lower side of a corrective channel which is an important sign for a completed rally since mid-March. In fact, decline from 1.5590 is looking sharp so we think it represents an impulsive formation which occurs in the direction of a primary trend. As such, we think GBPUSD will continue to weaken in days maybe even weeks ahead. Break of wave B) key level at 1.5195 will be next important evidence for a larger…

AUDUSD reversed perfectly lower from 1.0380/1.0400 resistance region that we have been focusing on last week with our members. Notice that market made a very sharp fall from that level, clearly in impulsive fashion through the lower line of a corrective channel that has been tested as a resistance on Friday after the NFP report. We believe that was just a sharp corrective retracement, labeled as wave (ii) that is part of incomplete bearish cycles. With that said, we think that AUDUSD will…

EURUSD moved sharply higher yesterday and closed well above 1.3127 swing high as well as above upper base channel line. Thats a very important evidence for further EURUSD gains, this time through 1.3200 followed by a 1.3300. In the very near term, we expect to see 1.3220 where prices may slow down in black wave 4. Meanwhile traders should keep an eye on 1.3052 level as long it will hold, market is bullish.…

EURUSD reversed higher yesterday in impulsive fashion and probably completed a five wave decline in blue wave (1) around 1.2960. As such, we are now expecting a minimum three wave rise because that's a structure of a corrective movement. Ideally we will see a simple A)-B)-C) pull-back in wave (2) back to 1.3300/20 level.…

Good Afternoon Everyone!



I have been missing trading and you guys for the past 5-6 days. I couldn't put my blog because I was travelling and doing lot of other stuff. Let's talk about the Market now.



Last week we saw a strengthening in USD which was somewhat you can say was due to Bernanke speech 3 times in a week. Bernanke Generally doesn't give speeches 3 times in a week so investors and market got…

Cable fell into a new low as expected after a black wave 4 pull-back to 1.5318. Well, the latest low is now fifth wave in wave 3) which means that market may have bottomed for the near-term as coming pull-back will be another wave 4) but of one larger degree. Resistance for this wave 4) will come in around 1.5318. Bullish divergence on the RSI compared to wave 3 and wave 5 swings also suggest that pull-back is due.

 Sentiment table…

USDCAD is higher, but pair could be in final stages of an uptrend in wave (iii) as we can count five waves up from 1.0000 with current fifth wave approaching to some key Fibonacci resistance levels around 1.0290. We know that after every five waves correction follows so reversal from here would not be a surprise but pull-back will be temporary blue wave (iv) that may retrace back to 1.0150-1.0200; wave four zone of one lesser degree. Keep in mind that larger trend for USDCAD is up, so we…

away but couldn't help looking at charts. lol

Here is my USD/CHF 4H chart..

Looks to me as we are in an ascending channel & have

now found support @ 0.9200 / 60EMA

Momentum to the upside can lead the way to 0.93

00 zones, would be a good buy

trade after a strong green…

EURUSD is in recovery mode after a sharp fall down to 1.3300 last week. For now, rally from the lows cannot be counted in five waves and pair is also still trading well below 1.3518 invalidation level. Therefore, we think that complex corrective decline from 1.3710 is incomplete and that market will make one more push down, towards 1.3250 in this week to complete wave C of a second zig-zag that we are tracking. Pair is now testing a very important level around 1.3430/60 which appears to be…

Most of the eyes will be on BOJ statements again. As china is closed for the week and market is very quite during the asian session so BOJ is likely to bring some action.

EURJPY and GBPJPY will be looked for key support and investors will be keeping an eye on every dip. In the last two BOJ meeting the politicians disappointed the market and investors which made YEN stronger.

NZDUSD has got wings and flying in no fly zone. However it is limited till 8500. AUDUSD…

Hi Everyone



I hope all of you are well and wish you all good luck.



We were hoping a quite week however considering monday yesterday was really active. Our EURJPY pair turned positive and gained almost 10%. JPY pairs were likely to go up it was just the comments of ASO which took it down and generally these comments doesn't have long lasting affect which is faded now.



NZDUSD again has shown some…

Here is my AUD/USD

H1 Chart.

As you can see we have a nice decending channel

I am expecting a bounce from 1.0255 maybe up 60 pips or so!

Before another decline as the daily & weekly charts look pressured for the Aussie....

Happy trading…

USDJPY extended higher in the last 24 hours after recent pull-back to 92.00 which was wave iv) of a five wave rally in larger degree of a blue wave (v). Now we can count five waves up, so we need to be ready for possible bearish reversal, as we know that after every five waves correction follows. Current wave v) is already testing upper side of an impulse channel, so top could be near. But on the other-hand if we respect the trend, then extensions in fifth wave up to 94.50 (2.00 x wave iv))…

Hi Everyone



I hope all of you had a great week and made lot of profits.



In my previous blogs as I mentioned that Euro will climb new highs and JPY will touch new lows which happened. AUDUSD and NZDUSD went down on monday and tuesday sessions but picked up again on thursday and friday because of US economical data.



There are few big event news week which will make a big impact on certain pairs. …

Here is my USD/JPY weekly candlestick chart!

The Japanese Yen has been hammered against its counterparts,forming a strong uptrend since November 2012! rallying 1300 pips with hardly any correction...

As you can see I have measured the high of March 2012 (84.20)down to the low of September 2012(77.00)…

Here is my AUD/USD chart!

I see good supply area at this buy level!

Possible wave D on 15 min chart also (200% FIB)

and psycho level 0.500

just want small pips here as we are @ ADR low. should see a push upward in the US…