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Inverted Head and Shoulder on USDCAD Indicates Further Gains Towards 1.51/1.53

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Mar 26 2020
 
Hello everyone.

USDCAD made an inverse head and shoulder formation from 2015 high, a powerful pattern, which can signal a new bullish recovery. We see a completed pattern at the 1.2955 level, from where bullish movement took over. The price also breached above the 1.3666 level, where a trend line is located, also known as a neckline. This breach is a confirmation that a bullish reversal is in full motion and can take price towards the price target at the 1.51/1.53 in weeks or months ahead

We realize that markets are very volatile and unstable these days. That is why we decided to give out a Special Discount to New and OLD members; Save 50% on Any FX or Digital Package.

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USDCAD, weekly



H&S pattern can sometimes go perfectly with Elliott Wave cycles. Well, on the 4h chart of USDCAD we see higher highs and higher swing lows with an extended structure in the middle so looks like an impulse is underway, ideally above 2016 high. If that’s the case that continuation of an uptrend can be coming soon as current reversal lower can wave four correction. Nice support comes in around 1.4 psychological level. If price can rally from here and break upper corrective channel line then watch out for 1.5 with upcoming fifth wave.

Also, when trading Lonnie watch crude oil prices as well. These are still in downtrend so CAD remains under pressure, but more about this one in one of our next articles.


USDCAD, 4h


Trade well,
Grega

@ewforecast
www.ew-forecast.com

 

BTCUSD Price Can Stabilize As Volatility Calms Down

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Mar 23 2020
 
Hey traders,

Today I will look at BTC volatility and compared it to similar developments back in 2018, when BTC bottomed once volatility slowed down. If that is the case then I think that start of April can be very interesting.

Check the video below!

We realize that markets are very volatile and unstable these days. That is why we decided to give out a Special Discount to New and OLD members; Save 50% on Any FX or Digital Package.

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Trade Well,
GH

BITCOIN; Buyers Are Waitting

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Mar 17 2020
 
Hello everyone,

Stock market decline pushed BTC and the whole Crypto market down due to panic and fear across the world. Very ugly and nasty move is visible through different assets, but it looks like an interesting decline that can even finish with a spike at the potential support if coronavirus will start slowing down. However, in case if situation worsens that we should be aware of even more weakness, and then we have to prepared on BTC to retest the 2018 lows.

Looking at the weekly BTCUSD chart, as our count #1, we are neutral and we are observing a big bullish triangle formation, where the recent three-wave A-B-C decline can be just as part of wave (C), so waves (D) and (E) yet to come. For a bullish triangle price needs to stay above 3000 invalidation level, and at the same time we need FIVE-WAVE recovery on a smaller time frame with a move back to $7k. So because that's not the case yet, we have to aware of another interpration; a flat correction where price is allowed to drop to $2000-$1000 support area.

Anyway, in both cases we believe that BTCUSD is in a big consolidation, and that sooner or later buyers will again show up, but maybe from lower prices. The most important is now to be patient and not rushing with any early buying idea. We think that even if market will bounce from here, there will still be a lot of opportunities ahead within ongoing move.


We realize that markets are very volatile and unstable these days. That’s why we decided to give out a Special Discount to New and OLD members; Save 50% on Any FX or Digital Package.

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Trade Well,
GH

BTCUSD COUNT #1


BTC COUNT #2




 

USD Index Recovering - Elliott wave analysis

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Mar 16 2020
 
Hello traders,

Dollar index made a five-wave recovery within a higher degree wave A) from end of 2017, which was then in 2019 followed by a three-wave complex pullback into a wave B). This pullback is known as a *flat correction, a 3-3-5 pattern, which has found support slightly above the 94.5 area last week, despite emergency cut by the FED. Looks like that reason for current rise is because investors are looking for safety in cash. Actually, it's very hard to find good investment these day, especially if we consider that metals are now also turning down aggressively, with silver falling below $12. So even "safe havens" are sold now, meaning investors feel much more secure and stable in cash rather than stocks or any other assets. And it's all because of fear that may not stop so easily while coronavirus keeps spreading around the world.

Now, looking at the DXY with it's current price action, we think that even higher prices can be coming and ready to retest the 100 area, but in the meantime be aware of set-backs. 96.00/96.50 can be a nice support.

*A Flat is a three-wave pattern labeled A-B-C that generally moves sideways. It is corrective, counter-trend and is a very common Elliott pattern. In our case we labelled an expanded flat.

We realize that markets are very volatile and unstable these days. That’s why we decided to give out a Special Discount to New and OLD members; Save 50% on Any FX or Digital Package.

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Trade Well,
GH

USD Index, daily




 

Coronavirus in South America Can Send MXN Lower

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Feb 26 2020
 
USDMXN is making a corrective set-back after five waves up completed a wave A) near 19.26 from where we saw one leg of a pullback so far. But we know that pullbacks are made by three waves, so we can assume that higher degree wave B) is still in play and may actually fill the gap around 18.88 which at the same time can be nice support for a new turn up. Corona-virus had also been found in south America, meaning it may not be far away from Mexico so any bad news about corona-virus spread may easily cause more damage to MXN which is already anticipate by a technical outlook.

usdmxn, daily + 4h


Trade well,

The EW-Forecast team


 

Will Coronavirus Cause More Damage To EURUSD?

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Feb 24 2020
 
Coronavirus is spreading in Europe, now in Italy which is closing cities and cancelling any public events. We see supermarket running out of foods, so there is serious fear which is impacting the stock market prices. We see negative impact now on US stocks as well, so both DAX and SP500 are in a correction that can reach lower prices after any short-term rise. I do not see any immediate and good solution to coronavirus; in fact this can cause companies to close for a temporary time, which will impact the euro economy, so I think the euro can stay in downtrend, and any rally can be short-lived. The 1.0865-1.0880 seems to be like an interesting technical resistance area; ideally for a completion of a forth wave.

EURUSD, 4h


Trade well,

The EW-Forecast team


 

Stocks Can See A Pullback Before Resuming Higher

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Feb 14 2020

In this video analysis I covered some interesting markets with clear patterns and interesting levels, that might be indicating a pullback on stocks.
 
Put/Call ratio, EEM (Emerging markets) and S&P500 charts can be showing that stocks are trading at the extreme levels, based on Elliott Wave perspective. If temporary risk-off is really about to show up, we can expected a continuation down on CAD/JPY, since we know that in risk-off, JPY is a safe-heaven. I will also look at USDCNH and what lower CNH can means for the AUD.



Be humble and trade smart!

The EW-Forecast team.

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