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Support Line On Bund Can Cause Pullback For EURUSD

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April 21 2021

The USD is seeing some recovery as stock market comes down where more expected weakness in the near term means that EURUSD correction can be deeper ahead of ECB tomorrow. From a technical perspective we still see bunds at the trendline support which is another reason for a pullback on EURUSD, as warned yesterday on twitter here. Pullback is normal for the EURUSD as rally from April low is seen in five waves; so it's a pause on the way up it seems. Support is at 1.1940 and at the trendline.




 

Surfing the Waves Apr 20 2021 -Video Update

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April 20 2021

Hey traders!

Below is new video analysis for EURUSD, AUDUSD, USDJPY, OIL, SPX sponsored by Orbex.com

ELLIOTT WAVE OPEN DOOR Event is here. See all of our charts FREE for 10 days. No obligations
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Elliott Wave Analysis: AUDUSD is breaking out of a flag pattern

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Apr 19 2021

New video; covering AUDUSD and GBPUSD

Grega

 

ALTCOINS at historic highs vs Bitcoin-Be Carefull

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Apr 19 2021

Based on current price extremes and BTC-ALT ratio I think we should be very careful and selective with coins.

If we look back to 2017 extremes, then we may assume that any new strong drop on bitcoin can impact alt coins- you should be very selective during next upcoming phase that may not be far away. But do not freakout, just bank some and wait on dips, and look at log charts when they show up.




 

Elliott Wave Analysis: Crude oil searching for a support

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Apr 13 2021

Crude oil is in strong uptrend since last year, due to limited oil production because of lower demand due to global lock-downs. We see a nice and strong uptrend that has slowed down last month for a correction. Corrections are always healthy as they tend to attract new buyers after retracement.

I am looking at the price action from an Elliott wave perspective and it appears that this can be a fourth wave, likely headed even lower in the near-term as corrective a-b-c pattern appears incomplete. In ideal formations fourth wave will retrace back to 38.2% Fib level where price may stabilize,possibly in May when most of lock- downs can be removed and oil demand will then increase which could lift price.

In fact, in recent report by OPEC they noted that demand will rise by 5.95 million barrels per day (bpd) in 2021, or 6.6% which is up 70,000 bpd from last month.

They also mentioned that vaccination programmes will cause increased mobility.


CRUDE OIL


 

Surfing the Waves Apr 13 2021 -Video Update

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April 13 2021

Hey traders!

Below is new video analysis, covering EURUSD, USDCAD, CRUDE OI and nasdaq100.


ELLIOTT WAVE OPEN DOOR Event is here. See all of our charts FREE for 10 days. No obligations
APPLY HERE

  


*source

 

EURUSD breaking out of a downward channel

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Apr 12 2021

EURUSD is recovering recovery very nicely after a completed five-wave structure within wave C last week when pair turned sharply out of a downward channel. We see an impulsive price action which means that pair will likely see even more gains after wave B/2 pullback this week. Of course, we should not forget on 10 year US yields which is the main driver of the markets for the last few weeks, but looks like that even here trend can be in a temporary reversal mode after recently broken trendline support.

I am keeping a close eye on this one for possible longs while market is trading above 1.1700.

Finally, another ELLIOTT WAVE OPEN DOOR Event is here. See all of our charts FREE for 10 days.

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EURUSD 4h


10 year US yields



 

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