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Elliott Wave Video: BTCUSD, ETHUSD and DOGE

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July 22 2021

Hello traders,

In a new video below I am looking at BTCUSD , ETHUSD and DOGE coins, especially after Elon Musk says that Tesla is most-likely going to resume accepting it. However, that's a long-term game that may not offer easy "short-term" bullish set-ups. There can be some room left to the downside for market to get rid of the "weak-hands"

Grega



Elliott Wave on DXY: Bulls Moving Into A Resistance

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July 21 2021

Hello traders!

Hello traders,
We have seen a sharp drop on stocks recently, especially on Monday when investors moved to “safe-have” assets because of fast covid spread. However, moves have probably a lot to do also with inflation and tapering if you ask me. At the same time we see this a healthy, needed set-back before market may resume back to the upside; prices just trying to catch a breath here. What is interesting today is that stocks are trying to erase some of the losses from Monday, which BTW is very normal and common when you have sharp flows on Monday, I very rarely trust them. So now stocks are recovering, but USD index is also still trading higher as well. So what’s next?

Well, I think that regarding the price structure, the most important at the moment is the structure on DXY. Notice that index is coming impulsively higher from 89.50 May low with current price already seen in a fifth wave. In fact, fifth wave looks like a potential wedge that came out of a triangle with price now approaching May 93.43 resistance. Technically it’s a perfect combination for a potential turning point by the end of the month/early August.



Now the question is, on which market or FX pair we shall focus if DXY is really moving into a strong resistance? My answer is USDMXN after The Bank of Mexico raised retest back in June. Technically price is also approaching a triangle resistance now. For full analysis click here

What about stocks? Well, they can be even more attractive and bullish if DXY will come lower, even if just temporary for a correction.

Trade well,

GH


Elliott Wave Analysis: USDMXN Is Forming A Bearish Triangle

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July 14 2021

Hello traders!

We want to share a chart with interesting and known pattern called triangle on USDMXN currency pair.

As you can see, USDMXN is trading sideways since the beginning of 2021. With slow price action and corrective sideways wave structure, we believe it's just a correction within downtrend, ideally a bearish triangle formation within a higher degree wave (IV) that can send the price even lower within wave (V).

Triangles are continuation patterns which consist of five waves A-B-C-D-E and seems like the final wave E can be now in progress, so watch out for a drop back to lows towards 18.x area soon.

It’s also worth to mention that three weeks back the central bank of Mexico (Banxico) hiked the benchmark interest rate by 25 basis points to 4.25%. This seems to be very bullish for MXN across the board and it may last until other banks will start increasing the rates as well. However, a lot of CB seem to be waiting on the FED first. Today, Powell will definitely talk about inflation , but recent retracement on some of the commodities , like Lumber, may give more time to the FED, so they can wait with aggressive taper- talk, possibly till September or maybe even end of the year. Under that situation dollar may face limited upside.
 

Elliott Wave Analysis: USDMXN Is Forming A Bearish Triangle by ew-forecast on TradingView.com



Surfing the Waves July 13 2021 - Video Update

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July 13 2021

Hey traders!

Below is new video analysis for NZDUSD, GOLD, DAX, AUDUSD AND AUDJPY, sponsored by Orbex.com
 


Elliott Wave Crypto Video Analysis: EGLD, ADA and EOS

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July 12 2021

Hey traders!

Welcome to our new video on cryptocurrencies, covering EGLD, Cardano(ADA) and EOS.

 

Elliott Wave Analysis: EGLD, ADA and EOS by ew-forecast on TradingView.com



NZDUSD Is Approaching The Support-Elliott Wave Analysis

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July 09 2021

Hello traders.
In this article, we will look at New Zealand dollar which is making a very nice retracement as US dollar found support as speculators assume that sooner or later FED will have to fight inflation. However we cannot ignore a very strong bullish trend on New Zealand dollar against the US dollar since March of 2020. We think that this trend is still very strong and valid, therefore we will continue to look higher especially when we have only three-wave move down from a recent top, as shown on a daily chart below where we have projected support at around 0.6790 area. For a potential rally, we will of course patiently be waiting for any intraday impulsive bullish structures to confirm a bullish turn. Patience is key at "do-die" levels.

NZDUSD Daily chart


At the same time, we are also observing Euro against New Zealand dollar where recovery since February is also looking corrective; it's a slow and overlapping move so we think upside can be limited. We also have to consider that despite recent pullback on stocks a highr degree trends are still valid, and in risk-on position so if stocks will again find some buyers, then normally NZD will stabilize as well .At this point, it's also important to mention that Bank of New Zealand (RBNZ) Governor Adrian Orr said two weeks back that economic activity in New Zealand is returning to its pre-COVID-19 level, which sounds very promising for their currency.



Trade well,
GH



Surfing the Waves July 06 2021 - Video Update

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July 06 2021

Hey traders!

Below is new video analysis for AUDUSD, GBPUSD, USDJPY, EURAUD AND GOLD, sponsored by Orbex.com
 


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