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US Stocks Down and JPY Up After NFP; More to Come

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April 07 2014

Morning traders! I hope that you had a great and relaxing weekend as markets can be very interesting in this week after strong sell-off on US stocks on Friday, after the US jobs report. We see markets in risk-off mode, but interesting despite strong move down on stocks USD did not move much to the upside. We have seen a strong upward reaction on US Notes and German Bund market while stocks were falling which was ideal for lower USDJPY and Yen crosses.
Market Correlation 30min

 

Now the question that is probably going through your head right now is “if this risk-off will stay here or no?” Well I believe in technical picture of the market swings. So if we take a look on the S&P then we can see five waves to the downside from 1892 down to Mar 30 gap. Decline is impulsive, thus it’s part of ongoing weakness, so we will be looking for more weakness after any short-term three wave rally. This three wave rally may occur soon if we respect gap levels that usual react as reversal zone.
E-mini S&P500 1h
 


So if we respect the bearish picture of the S&P then we may also consider a bearish continuation on USDJPY and even take advantage of intermarket analysis. A decline there has also unfolded in impulsive fashion, so we may consider shorts with our members in the next 24-48 trading hours.




GBPUSD: Bullish Development

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April 01 2014

GBPUSD found the support last week and recovered nicely above the upper trend line of a downward channel. A reversal from the low can be counted in five waves on the intraday charts, so we suspect that trend has changed and that pound will continue to the upside, especially after a corrective retracement back to 1.6550/70 that could unfold in the next few sessions.






VIDEO: Bearish Pattern on Nikkie Could Send USDJPY Lower

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March 27 2014

Hello everyone!

Today I will take a look on USDJPY which is consolidating for few weeks now. It looks like pair is waiting on continuation lower on Nikkei futures where we see a bearish pattern. A break to the downside will mostly send USDJPY lower as well. Check out our video for more details.

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Join me on our free Elliott Wave Live analysis on Monday Mar 31 2014 at 12:00GMT. I will cover some major markets and highlight interesting patterns.
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Trade well,

Grega

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03/21 Webinar recording

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March 21 2014

Our webinar recording.

Coverage: USDJPY, GOLD, EURUSD, USDCHF, EURGBP, CRUDE OIL, EURJPY





03/14 Webinar recording

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March 17 2014

Our webinar recording from Friday, Mar 17 2014

Coverage: USDJPY, S&P500, GOLD, EURUSD, GBPUSD, EURGBP, Crude Oil, Copper,





03/12 Webinar recording

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March 12 2014

Our webinar recording; covered Copper, DAX, AUDUSD, USDJPY, GBPUSD, S&P.





GBPUSD; Three Legs Down To 1.6550

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March 11 2014

GBPUSD turned down yesterday, through the lower side of an upward channel that suggest now a completed wave B. As such price is now heading down in wave C final leg of corrective pattern that may look for a support around 1.6550 later this week. Keep in mind that larger trend is still up, and that retracement from 1.6822 is just temporary.



On the intraday chart of cable we see slow price action above 1.6620 level after some strong sell-off yesterday through 1.6700 zone. That move yesterday was most likely wave (iii) of an impulsive decline in progress, so we suspect that current pause represents wave (iv) so we can assume that GBPUSD has room for more weakness within current wave C.






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