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Video: NZDJPY and S&P500 Video Update Crude OIl

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May 19 2017

Good day traders!
In todays video I will give you a quick update from last week when we talked about NZDJPY weakness based on potential turn pullback on US stocks.

I wish you a good weekend!

Grega



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E-Mini S&P500

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May 11 2017

We may see a deeper pullback on stocks, based on E-mini S&P500 count which shows a three wave move from March lows into a new all time high that was seen just for a day near 2400. Price is ticking lower now, so we may see a retracement back into the middle of a 2319-2400 trading range to make this wave four more complex; a flat maybe even a triangle. Also, there is a gap near 2350 that may not stay open for a long time. Once wave four correction will show evidences of a completion a new strong bullish run may show up.

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Flat correction 3-3-5

Why to fight that trend from 2009 low, when each retracement proved to be corrective since then. Why would this time be any different? It's not enough data to look for a top yet.





GBPUSD: Bulls May Slow Down At Intraday Resistance 1.2950- 1.3000

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April 28 2017
 
GBP is the strongest this week, now again breaking to a new high against the USD, so market participants are becoming more and more bullish on this currency, but from a technical perspective we believe they should be very careful. Reason is an EW structure which shows that market went out of a triangle this week, therefore it's in final stages of a higher degree structure so upside can be limited, especially if we also consider that we can count five sub-waves up in wave 5 of 3). We see some nice Fib. resistance near 1.2950-1.3000. A reversal into a new correction can be seen from the highlighted area.

GBPUSD, 1H

                                                                                          

 

E-mini S&P500: Be Aware Of A 3-Wave Rally

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March 27 2017
 
We see dollar index to hit new lows of the year as EURUSD breaks above 1.0800, while stocks sold-off as Trump's health-care bill fails. E-mini S&P500 has extended its weakness from last week down to 2320 area which was our projected zone for a fifth wave of decline, highlighted last week. Question is, what is next. Well, if you are familiar with the Ellliott Wave principle, then you know that market can be ready for a bounce this week if we consider that after every five waves trend will make a change in three legs minimum, no matter what is the structure on a higher time-frame charts. So from a technical perspective, and also from a psychological point of view, when others are turning aggressively bearish on stocks, we suspect that three wave of retracement may show up on stocks, but it may be just another temporary recovery. Divergence on the RSI also indicates a potential turn. We see first support zone here near 2320 while next one stands near 2310.
 


S&P500, 1H

EURGBP Can See More Upside In the Near-term

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March 20 2017
 
As Elliott wave analyst we have to recognize clear patterns very quickly; we know that sharp moves are impulses, while slow are corrections. If we take a look on EURGBP hourly chart then we can clearly say that decline down from 0.8780 region is slow and overlapping, therefore a corrective set-back that is pointing higher. We see it as wave four which normally finds the base near the area of a former wave four, and around 38.2%. This is exactly where markets is at the moment, so technically next reaction can be to the upside, above 0.8800 for wave five, while market is trading above red wave i) swing high. Rise and break above 0.8740 will suggest that we are on the right track with the count.
 
 
 
EURGBP, 1H



USD Index Out Of Bearish Channel

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February 13 2017
 
Last week market seen some dollar strength against other currencies, but the move is not that strong yet. However, USD index traveled out of a 30 day downward channel which could finally put the buck back into bullish mode, within a context of a strong uptrend on higher time frame charts. As such, we think that USD could outperform other majors this week, even some commodity currencies such as NZD, while AUD and CAD could actually act quite well if oil and metals will continue to rise.

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EURUSD and USDJPY Intraday Video Feb 07 2017


Bears On S&P500 Can Take Price To 2250

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January 30 2016

Stocks are moving sharply lower as Trump actions can lead to conflicts between US and some countries. We see market falling back to 2270 very aggressively from 2298 high that was triggered last week, following a completion of a triangle which was a few days earlier. We called that bullish move higher before it happened, but now we should also not be surprised by that turn since we know that trust out of a triangles are final within a higher degree patterns. In other words, we knew that upside is limited as we saw price in wave five, so current reversal lower is start of a deeper corrective set-back. Technically speaking, set-back should be made by minimum three waves lower; an A-B-C structure that can take us back to 2251, then you have 2237 from January 03 gap, and slightly lower is even more important 2228 swing. On the upside keep an eye on wave B which could bounce back to 2288 Sunday, January 29 gap.

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Trade well,

Grega

S&P500 4h chart



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