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Usd/Cad Can Reach 7-Month Low (0.9800)

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April 18 2012

Canadian dollar was one of the strongest yesterday, fell sharply lower after a swing reversal from 1.0032 where we believe that wave (ii) reached a peak. Notice that decline is very sharp, which also broke and closed below corrective channel and base channel support as well. This is indication for a third wave price action of a new impulsive bearish sequence headed now to 0.9800 projected zone for the first impulse.

We are bearish while pair trades below 1.0032 swing high.






Eur/Usd Trade Example

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Apr 16 2012

Euro moved higher in recent sesion after pair reached psychological 1.3000 level. From an Elliott Wave perspective we have five waves down, which means that pair is ready to recover, ideally in wave two. We think that right now its too early to look for any new short positions, as we booked (1.3055) a nice trade yesterday from 1.3160 and 1.3200 levels that we carried from the past week.

Click on the video below to see the analysis we shared with our members at that time.

April 11: Eur/Usd set-up chart

April 11 video:


Eur/Usd In Upward Correction; Downtrend Should Resume Soon

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Apr 12 2012

Euro unfolded impulsively from 1.3382 peak, which now appears to be wave (i) bottomed at 1.3035. We know that impulses shows direction of a trend, so we will be looking for further weakness in days ahead with fall beneath 1.3000 psychological mark. However, before downtrned resumes, pair will look for deeper pull-back ideally into 1.3200 zone, where wave (ii) may find a top.

Critical/invalidation level is at 1.3382.

eur

VIEDO ARCHIVE: FREE VIDEO ANALYSIS for Gbp/Usd, Usd Index, S&P500, Oil and TLT
Cant see video below? click here

 

Twitter: http://twitter.com/gregahorvatfx


Cable Can Move Below 1.5800 This Week

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April 10 2012

Cable made clearly five waves down from 1.6060 high broke trend-line support of an ending diagonal and wave (4) swing as well. These are all indications for a bearish trend, especially as rise from 1.5805 looks clearly corrective, labeled as wave (2).
Pair should fall below 1.5805 while 1.6060 critical region holds.

http://www.ew-forecast.com/content/document/image/2397gbp-usd489.3.gif


USD Now Ready For Strength

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April 04 2012

Euro moved sharply lower in this week from 1.3380 area, and closed below previous 1.3250 swing. And also because of the sharp bearish price action, we came out with an idea that recovery from 1.3000, labeled as wave (c) of 2 is finished and that market will move even deeper in days ahead; ideally below 1.3000 within impulsive decline. A rally back above 1.3380 will invalidate our wave count!



Do you want more detailed Elliott Wave Analysis? Check the video below which includes also Gbp/usd, Usd/Chf and S&P500:



Gold Now Back To Bullish Mode

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March 26 2012

We see a very clean bullish pattern on gold. Notice that from 2011 highs decline has unfolded in three waves, followed by bullish impulsive reversal through falling trend line. Well, once wave (1) found the peak, the price reversed lower as expected, into a corrective wave (2), which is now looking for a bottom around typical 61.8% retracement area. A minor impulsive bounce towards 1715 will confirm a bullish case, and immediate rise to 1800 and even higher.

For now invalidation level remains at 1522 low!

Notice that we are currently also observing huge head and shoulders pattern with right should near completion.

gold



Crude Oil Back To Bullish Mode; Price Will Revist $110.50

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March 19 2012

Oil reached new lows, around 103.70 in the past week, from where a sharp reversal occurred. Notice that on Friday price moved decisively through the corrective channel resistance line and also slightly below wave (b) termination level, which was a triangle. These are all indications for an uptrend continuation for days and weeks ahead, towards 110.50 area.

Short-term critical support is now at 103.70.





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