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EURUSD: Final Stages Of Downtrend!?

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Nov 13 2012

EURUSD could be in final stages of a five wave decline in wave C) from 1.3140, that represents part of a corrective wave (B) started back in September. Wave C) is still not showing any sings of a bottom, but based on MACD reading we see that bearish momentum is decreasing, so low could be near. We however expect test of a new low, around 1.2650.




GBPUSD: Pair Looking Towards 1.5800-1.5870

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Nov 08 2012

We are tracking bearish price action on Cable after sharp fall last week through the channel support line, which means that recovery from 1.5913 was a three wave movement, now labeled as wave X). As such, we are tracking another three wave decline from recent 1.6176 swing high headed towards 1.5800-1.5870 projected region. Minor wave B is already showing signs of a top at 1.6043 which means that new low could be seen very soon. Keep in mind BoE rate decision is today at 12:00GMT.




USD Index Intra-day

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Nov 02

USD Index is looking bullish after recent rally up to 80.30 area which appears to be wave three of an impulsive structure after a nice reversal higher from a wave (b) low that was a "text book" example of an expanded flat. Market is bullish now for 80.50-80.70 zone



(Video) EURUSD: Triangle Within A Bullish Trend

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Oct 30 2012

Markets are slow and choppy for some time now, and with US equity market closed and low liquidity we think that EURUSD will not break out of this range so soon. But when it will this will most likely be to the upside, if we consider that pair has turned bullish this summer.
On the chart below we can see that pair found the support few sessions back around 1.2880, at the trend-line connected from 1.2800 swing from late September. Notice that today’s rise is quite sharp on the intra-day basis which has also extended through the falling channel line. We think that’s very important, because if price will close above resistance line today, then trend would turn into a temporary bullish mode. Why temporary!? Because we are tracking a triangle and in such case any rally up to 1.3100 will represent wave D), still only fourth leg of a triangle pattern. But we need five of them, so our special focus should be on wave E) low once gets underway. However, it’s still plenty of time until then so we must be patient, and wait on more price data before we may even consider opportunities to the upside.

To hear and learn more about triangles, please review the video below.

Have a good day!



Video: Click here


S&P500: Can Price Hit New All-time High!?

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Oct 27 2012

S&P500 is bullish after a break above 1423 high, now labeled as a (W) that is part of a very complex wave Y that will complete wave D) of a larger expanding triangle. If we are on the right track then market will extend into a new all-time highs, ideally towards 1610 level while 1266 support holds.

Current sideways price action is clearly a corrective movement, a complex wave B) so break higher. is expected.

sp629
 

Intraday Elliott Wave Set-up: EURUSD

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Oct 25 2012

EURUSD is looking bearish now, after three waves up into 61.8% retracement area from where market reversed lower as highlighted yesterday. Support channel line is already broken which definitely puts pair into a bearish mode. If stocks will weaken in the first part of the US session then EUR has no chance.

eurusd


 

 


Elliott Wave- Dollar Index Down; S&P500 Up

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Oct 17 2012

Dollar index extended even lower yesterday, now through the channel support line which puts market into even more bearish mode than before. We believe that wave 5 is underway which should unfold in five waves towards 78.00 projected zone. Any short-term bounce will look for a reversal from a trend-line; broken support becomes resistance.

dx621
 

We think that S&P500 will continue higher and the reason is a three wave of a pull-back from latest 1474 high which we know its a structure of a corrective movement. Ideally that was wave 4 of an incomplete five wave rally in red wave 3. If we are correct, then price will move back above 1480 in the next few weeks that will cause even more bearish pressure on the USD.

 
sp621


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