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USDCAD : Temporary Bearish Turn

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Jan 25 2016

USDCAD reached new highs around 1.4700 last week where bears stept in and caused a strong bearish turn. Notice that move was sharp and it also extended much lower on Friday, which is an important evidence for a top in place as there was a bearish weekly candlestick formation. But it can be only temporary top if we consider that decline can unfold only in three legs that would represents then a wave four. However, no matter where the pair is headed long-term, for the short-term swings there is room for more downside in sessions and days ahead. Notice that current leg down is wave A, so more weakness to come after wave B rally.

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USDCAD, 4H


EURUSD : Bullish Waves In Play

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Jan 14 2016

EURUSD has turned up last week, away from 61.8% Fibonacci support which was a key support for this pair it seems as price jumped more than 200 pips so far. So a decline from 1.1060 high was in three waves, which is a corrective move called a zigzag that is now pointing to higher levels. We are anticipating higher prices for a red wave C) that will be confirmed when pair will break and close above the upper channel resistance line. In that case pair should continue higher through the rest of the month, up to 1.1200.

EURUSD, 4H



2015 Flashback Charts

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Dec 29 2015

At the end of each year we usually look back and check how markets were trading and how our predictions played out. We again did a pretty good job which gives us even more confidence for 2016 as Elliott Wave theory over and over again proves to be one of the best tool for analysing the markets.

We are not analysing markets only for ourselves, we want you to be part of market trends as well, and be on the right side of direction. That said we decided to release Yearly Membership Offer once again and give you an opportunity to join our community for much lower price.

All the best in 2016!

Trade well,

Grega

Below you can find some flashback charts on EURUSD, AUDSD, GOLD, CRUDE and S&P500.












 

Reuters CRB Commodity Index Can Bottom In 2016

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Dec 21 2015

In this article we will look at CRB Commodity Index. This is important market to track for overall direction on commodities. What we see on the weekly chart below is a five wave of decline within wave C which means that current weakness can be coming to an end. Ideally market will turn up in 2016, but it can happen from around 28,00 or from next Fibo support at 25.00. if we are on the right track then grains, as well as oil and even gold can turn up as next year while USD trend may slow down because of negative correlation.

CRB Index, Weekly
Thomson Reuters/Jefferies CRB Index


USD Index VS Commodities



Crude OIL : Correction Underway

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Dec 16 2015

Crude Oil fell down to our $35 target and nearly 50 cents lower before market bounced higher two days back. We see a nice spike at the low that suggests bottom in place. In fact, a divergence and five subwaves within red wave v) also suggests that market should recover in minimum three waves. Ideally price is now in wave (iv) that can be headed back to around $40.40 where former swing low can turn into a resistance. So for now, we are turning bullish for an a)-b)-c) bounce.
Crude OIL, 4H


USDCAD : Correction In View

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Dec 11 2015

USDCAD is at new highs once again as expected, following recent pullback to 1.3515 that we labeled it as wave (iv). This was just a minor correction within extended and sharp wave 3 that can be targeting 1.3700 area where gains may slow down. Ideally pair will turn into a new correction next; wave 4 of a higher degree.

USDCAD, 4H



EURUSD Update II: Price Is Higher As Expected

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Dec 04 2015

EURUSD turned sharply up from the low yesterday after the ECB press conference, but this move has been technically expected even ahead of the ECB decisions as we identified an ending diagonal in wave 5) of (3). We know that ending diagonal usually causes a sharp and aggressive turning point so current move up is not a surprise. We see leg up as wave A), part of a minimum three wave rally in wave (4) that can reach even 1.1070 this month. However, in the next few days we may see a retracement down in wave B) back to around 1.0760; potential support. Nothing moves in straight line.

EURUSD, 4H



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