Elliott Wave Forecast! - page 3
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EURUSD: Pull-back Within Corrective Decline(Elliott Wave Analysis)
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
GBPUSD : Strong Weakness Could Accelerate After 1.5267 Break(Elliott Wave Analysis)
Any pull-backs should prove corrective while price is trading below 1.5440.
On the weekly chart: price is well below 2009 support line Larger elliott wave count suggests that pair is at the start of big wave (C ) down.
AUDUSD: Larger Trend Remains Bearish After Stevens Speech
Bearish Elliott wave patterns. The first price action is showing five wave fall from 1.0366 followed by a three wave rally in wave ii) which could be counted as an expanded flat.
If today market will remain strong and closed somewhere around or above 1.0330 level then AUDUSD will be focused on the second wave count. This one suggests that market could rally in five waves from 1.0220 and towards 1.0400 before larger downtrend resumes.
Elliott Wave GOLD: Weakness Could Extend To 1530
GOLD moved lower as expected, but because of a very sharp and aggressive sell-off we reworked the wave count. We are now tracking a three wave A)-B)-C) Elliott wave pattern from 1795 swing with wave C) underway, which appears incomplete as we need five waves down from 1696. As such, Elliott traders must be aware of more weakness in this week as current recovery could be a black wave 4 that will look for a tip around 1595-1605. Market remains in bearish mode as long as 1651 resistance is not breached. Under this bearish scenario prices could hit 1525/30 level where red wave C) equals to wave A) measured from wave B) high.
USDCAD Could Make A Pull-back from 1.0280/1.0310 Within Extended Uptrend
Larger trend for USDCAD is up, I look higher after a pull-back while 1.0087 invalidation level is not breached.
USD -Index: Testing 61.8% Fibo Of July 2012-September 2012 Move
Current sharp leg up could easily be wave C) of a flat correction in wave (B) which is unfolding already since September 2012. In fact, price is approaching to some very interesting resistance zone around 81.70-82.00 (61.8% Fibo) where bulls could slow down.
on a weekly chart below we are also observing a huge head and shoulders pattern while 84.00 level is not breached.
Elliott Wave Analysis : AUDUSD Corrective Reversal Could Reach 1.0360/80 Swing
Elliott Wave Analysis suggests that current rally on AUDUSD is probably part of incomplete minimum three-wave rally that could reach 1.0360/80 swing zone in the next 2-4 trading days.
On a daily chart there is morning star formation in progress that also supports the idea for near-term bullish waves, but need to see today’s close around current levels or higher.
Morning star in progress?
Elliott Wave Analysis: EURUSD, Bearish But Overlapping
Despite strong bearish momentum decline from 1.3710 still can be corrective move, because each time when there was a bounce the market also made an overlap with former swing low.
EURUSD Broke 2012 Support Line; Can This Be Start of a Major Sell-off?!
Expecting a three wave bounce back to 1.3300 in March, before downtrend extends.
EURUSD daily- line chart
EURUSD monthly
The overlay chart below which shows that most of other correlated markets turned lower, but not S&P which is still bullish but alone. This could be a sign and S&P is approaching to its top. Market Correlations
USDCHF: Minor Pull-back Within Uptrend
USDCHF accelerated higher at the end of the last week slightly through the upper channel resistance line which is a bullish signal for the pair. Observing a new wave count with possible impulsive rally underway to 0.9500 area while 0.9335 is not breached.