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USD Index Could Break Out Of A Triangle Very Soon-Elliot Wave

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Jan 21 2013

At the start of January we discussed about two possibles with members regarding the pattern on Dollar Index in wave (B) position; we mentioned flat or triangle. Well, looks like triangle appears to be the case now after only three wave rise from 79 to 80.90 level followed by another tree wave fall to 79.30 which we think it was a D) wave. As such, pattern could be in final stages now so be aware of a reversal lower from around 80.10-80.60 resistance area.



On the 4h chart we can see that USD index recovered nicely from wave D) swing low. Notice that pull-back is in three waves that represents wave E), final leg of a triangle pattern. Prices also reached 50% retracement area so do not be surprised if market will turn sharply lower in this week. An impulsive weakness back to 79.57 will open the door for much lower levels. In such case traders may take advantage of stronger EUR. Invalidation level is at 80.90; as long market trades below this figure we will look lower.

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EURUSD: Pull-back May Find A Support At 1.3300 or 1.3260 Level

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Jan 15 2013

EURUSD is very bullish since last Thursday ECB press conference when pair reversed significantly higher, clearly in impulsive fashion with extensions above 1.3300 level. We know that impulsive structures are five wave patterns that unfold in the direction of a larger trend. With that said, we expect even higher levels on EURUSD after a completed pull-back. It looks like wave (iv) is in progress which will either look for a base at 1.3300 (23.6% Fibo) or 1.3260 (38.2% Fibo) area.



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Dollar Index: Bearish Triangle

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Jan 13 2013

A week back we discussed about two possibles on Dollar Index in wave (B) position, we mentioned flat or triangle. Well, looks like triangle appears to be the case now after only three wave rise from 79 to 80.90 level. Triangles are five wave patterns, so be aware of a short-term bounce in wave E) towards 80.00 zone before whole structure is complete. Anyhow, we expect a fall beneath 78.50 while 80.90 resistance is in place.

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Contracting triangle
 

tri
• structure is 3-3-3-3-3
• each subwave of a triangle is usually a zig-zag
• wave E must end in the price territory of wave A
• one subwave of a triangle usually has a much more complex structure than others subwaves
• appears in wave four in an impulse, wave B in an A-B-C, wave X or wave Y in a double threes, wave X or wave Z in a triple threes

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EURUSD Correction

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Jan 10 2013

Traders be aware that despite current sharp intra-day rise from 1.3135 support, the whole price action from January 4th is corrective. The reason is a three wave rise to 1.3140 which we know is a corrective movement, now part of a larger complex pattern. From an Elliott Wave perspective we are tracking two possible patterns, where both legs (a) and (b) are made in three waves like in our EURUSD live example below. we are talking about flat where wave (c) could rally back above 1.3140 or even triangle if price remains sideways after ECB press conference.

Bottom line: Current rise is part of ongoing correction and sooner or later EURUSD should turn beneath 1.3000.






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Video: The Dirrection Of the USD In 2013

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Jan 06 2013



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NZDUSD Is Looking For More Downside

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Jan 03 2013

Commodity currencies are very weak after the FOMC meeting minutes, with NZD down against both other major commodity currencies CAD and AUD while USD is currently up against all of them. I have here 4h NZDUSD chart where price action is pointing lower, towards December lows after previous five wave fall in A), followed by a sharp but still possibly corrective rise to 61.8% retracament area. Intra-day weakness just slowed down at double channel lines; would love to see a break here to confirm a bearish view and discover some short entries.



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EW Video: AUDUSD, USDCAD and GOLD

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Dec 24 2012

Dear Trader,

2012 was very interesting year for the markets with a lot of important swings and trend changes. Our forecasts were mostly right, and we will do our best to repeat this in 2013.

Officially our services will now be closed for a holiday break, but if you want to join and start a new journey with us in 2013, then now it’s right opportunity for you to sign up through the special offer 2 for 1.

For the year end we decided to give you a free access to our latest video analysis on AUDUSD, USDCAD and GOLD.




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