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DXY Is Slowing Down As Stocks Nearing Support

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May 19 2022

Hello traders, today we will talk about US dollar Index- DXY compared to US stocks, specifically SP500 .

What we see on DXY is an intraday five-wave decline from the highs after a completed higher degree wave 5th. In Elliott wave theory it means that US dollar may face bigger A-B-C corrective decline, especially if we consider 5th wave and strong support on SP500 .

Now that SP500 keeps pushing lower with room for more weakness within wave 5, DXY could face a corrective recovery into wave B. Later then, when SP500 completes its 5th wave and finds the support, this is when can expect further weakness within wave C for the US dollar .

Trade well!

DXY Is Slowing Down As Stocks Nearing Support by ew-forecast on TradingView.com



Surfing the Waves May 18 2022 - Video Update

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May 18 2021

Hey traders!

Below is new video analysis for EURUSD, DAX, USDCAD, SILVER and EURJPY sponsored by Orbex.com
 



Elliott Wave Analysis: Silver Is Looking For The Support

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May 12 2022

Hello traders and investors, today we will talk about silver, in which we see a pretty nice long-term opportunity as A-B-C corrective decline can be coming to an end.


 
Silver is trading in an A-B-C correction but now that is coming into 2-year low, seems like support is near, ideally here around 20 – 18 area. On a daily chart we are already tracking wave C of an A-B-C correction, but wave C is a motive wave and it should be completed by a five-wave cycle of the lower degree. So, there can be still room for slightly lower levels before a bullish reversal. Keep also in mind that bulls could be back in the game only if we see a rally back above 24 region.

Happy trading!



Surfing the Waves May 11 2022 - Video Update

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May 11 2021

Hey traders!

Below is new video analysis for EURUSD, EURGBP, SP500, SILVER and USDJPY sponsored by Orbex.com
 



Elliott Wave Analysis: Natural Gas Confirms Temporary Top

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May 10 2022

Hello traders and investors, today we will talk about Natural Gas in which we can see sharp and impulsive decline from the highs, which in Elliott wave theory suggests and confirms temporary top in place.


 
From Elliott Wave perspective we can clearly see a completed five-wave bullish cycle within 5th wave at projected 9.0 level. In Elliott waves , after every five waves, we can expect a three-wave A-B-C reversal, so with current five-wave drop from the highs, seems like Natgas is now slowing down within a higher degree (A)-(B)-(C) correction.

Well, wave (A) seems to be completed now, so we may now see a three-wave A-B-C corrective rally in wave (B) that can retest 7-8 resistance area and form a nice Head&Shoulders pattern before we will see another sell-off for wave (C).

Happy trading!



While Aussie Finishing Correction, Stocks Approaching Support

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May 06 2022

Hello traders and investors, today we want to update SP500 and AUDUSD charts, as we see them finishing a correction and approaching strong and important support zone .
As you can see on the left correlation chart between SP500 and AUDUSD pairs, always when Aussie finds the support, we see SP500 stabilization.

Well, if we take a look on the right Aussie chart from Elliott Wave perspective, we can clearly see a corrective movement, ideally a complex (W)-(X)-(Y) decline. We are already tracking final wave (Y), but it has to be finished in three legs A-B-C and as you can see, wave C of (Y) is still missing.
From technical point of view, ideal support for SP500 is here around 4000 level, maybe slightly lower, while Aussie may retest 0.68 support zone before we will see a bullish reversal.

So, if we are on the right path, then stocks might find the support soon, as we see Aussie in final stages of a corrective decline, where final leg may also occur as a spike down like back in March 2020 and January 2019.

Happy trading!

While Aussie Finishing Correction, Stocks Approaching Support by ew-forecast on TradingView.com



Cronos From Crypto.com Can Be Finishing A Corrective Decline

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May 05 2022

Hello Crypto traders, today we will talk about Cronos coin from Crypto.com in which we see deeper and bigger (A)-(B)-(C) correction from the highs that can be approaching the end soon.


The main reason why Cronos looks corrective is an Elliott wave running triangle formation in wave (B) in the middle. In Elliott wave theory, we know that triangles cannot occur in wave (2) as part of a five-wave impulse, so it must be wave (B) which indicates for an A-B-C corrective movement. Triangles consist of five waves A-B-C-D-E . Triangles also suggest that the final leg is coming before a reversal, so in our case wave (C) before it finds the bottom.

As you can see, CROUSD chart is already breaking out of wave (B) running triangle pattern and wave (C) can be already in progress. Ideal support we see at the starting point of mania cycle back in October 2021. If we also consider equality measurement of waves (A)=(C), then ideal support zone comes around 0.20 – 0.15 levels and from where we will expect a bullish reversal.

Happy trading!

Cronos From Crypto.com Can Be Finishing A Corrective Decline by ew-forecast on TradingView.com



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