Elliott Wave Forecast! - page 8
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
GOLD: Recovery Is Incomplete; Could See 1490/1500-Elliott Wave Forecast
GOLD made a deeper pull-back in this week and then found a support around 1440, at the parallel trend-line that represents lower side of a corrective channel. Also notice that decline from 1485 has been made in three waves and that 1419 support is still in place. Therefore, we think that pull-back from latest high was corrective wave b) that is part of a complex double zig-zag from mid April low. With that in mind, price could test 1490 or even 1500 level before complex corrective is complete.
USDCAD Could Look for a Support This Week at Trend-line from 2012 Low
USDCAD: An impulsive reversal higher in the next week, back to 1.0200 would suggest another leg higher, this time to 1.0440 trend-line resistance where we would be looking for an end of a corrective wave (E) of X triangle as shown on the weekly chart.
Only sharp fall through 0.9930 would require a different outlook (ALT on the chart).
Stocks Futures! US2000, SP500, NAS100.I, DJI.I, FTSE100.I, DAX.I
US and European stocks futures did not move much in the last few sessions so we will continue to look higher. We see room for further gains today as several market are still in fourth waves.
USD Index Is Forming A Bullish Reversal Pattern-Elliott Wave Forecast
Critical/invalidation level is at 81.32 as wave 2) must never retrace more than 100% of wave 1). So as long that level holds we are looking higher.
What is Zig-Zag?
A zig-zag (Elliott Wave Pattern) is a 3-wave structure labeled A-B-C, generally moving counter to the larger trend. It is one of the most common corrective Elliott patterns.
EURUSD: Elliott Wave Principle Suggests to wait three wave pullback
EURUSD: Elliott Wave Principle Suggests to wait three wave pullback in abc to go short.
EURUSD: Broken Daily Trend-line puts The EUR in Bearish Mode
EURUSD fell sharply last week and closed well below 1.3034 swing low support which puts bearish price action in play. From an Elliott Wave perspective we are tracking one-two, one-two set-up with sub-wave (ii) now underway to 1.3020/50 resistance area.
EURUSD Intra-day
EURUSD Daily
USDJPY Could Be In Final Stages Of An Uptrend-Elliott Wave Forecast
USDJPY broke higher last week, out of a triangle pattern that we have been tracking it since mid-April. This triangle has been placed in wave four, so we must be aware of a bearish reversal in the next few days/weeks if we consider that this type of patterns occurs always prior to the final move of the larger trend. So current leg up should be our final leg then; most-likely wave 5 of an ending diagonal. However, each leg in ending diagonal should be sub-divided minimum by three waves so current pull-back is probably wave (b) with wave (c) yet to come that may hit 103.00/103.50 level. After a completed ending diagonal we will be looking for a sharp reversal lower. Fall back beneath 100 would be a first but important sign for completed ending diagonal and weaker prices ahead.
What Is Ending Diagonal?
An ending diagonal is a special type of pattern that occurs at times when the preceding move has gone too far too fast, as Elliott put it. A very small percentage of ending diagonals appear in the C wave position of A-B- C formations. In double or triple threes, they appear only as the final "C" wave. In all cases, they are found at the termination points of larger patterns, indicating exhaustion of the larger movement.
AUDUSD Bearish; Wait On Pull-back For New Shorts
AUDUSD: Support for current decline could be near, maybe around 0.9800 from where we will be tracking a wave (iv) corrective rally.
EURUSD: Bearish Cycles Remains In Play-Elliott Wave Forecast
EURUSD reversed slightly higher yesterday from 1.2840 support but not for long as recovery found resistance very soon, so it was probably just a fourth wave within larger wave 3 down.
--------
high low system