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July 29 2019

Hello traders,

I hope you are now on the beach somewhere, enjoying a well-deserved vacation with your family while reading this post. So you are like most of us who cannot be without market quotes for more than a day or two. So what’s going on FX these days and what its interesting?

We have seen some very nice bounce on the euro since Thursday after Draghi announced that easing was going to be delivered in September, on several fronts including rates. The best moves were not seen on EURUSD, but rather on some crosses pairs such as EURAUD. This is very volatile pair for the last few weeks and even months as EURUSD and AUDUSD diverge. I have been short EURAUD a few weeks back based on bullish Aussie and gold view (BTW I will make a video of that trade soon). But now it appears that we should be looking at the other side of the EURAUD trend. Why? Because pair accomplished a very nice five waves of decline from 1.6446, confirmed by a five wave rise on an hourly char. It looks like the beginning of a three-wave recovery, like a zigzag which will be a contra-trend move on a daily chart that I would like to short sometime in the future, but for now, attractive can be wave B retracement to catch wave C towards 1.6230 resistance.

I will be watching it very closely and let you know about the developments on twitter @gregahorvatfx

Trade well, GH

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July 16 2019

Good morning fellow traders!

As you may already know, Coffee and Brazilian Real (BRL) are in tight correlation which can be clearly seen in the correlation chart below where we see USDBRL in orange turning lower, while Coffee can be putting in a low at the same time. But the most interesting part is the wave structure, so with the help of the Elliott wave model, we can easily put both markets into the one context. We assume that coffee futures will continue to rise while USDBRL will be declining.

Coffee vs USDBRL, Daily


 

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A week back I promised to our members that I will make 50 push-ups if NZDUSD will see a 50 pip bounce. Guess what, pair moved straight up afterwards and for now it seems it may gain even more strength based on the Elliott Wave Structure.
Enjoy the video,

GH

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Two weeks back we shared our view on bitcoin cash and highlighted bullish pattern that was pointing higher back at the time.

Here is now video update.

GH

   

 

 

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Hello traders!

Today we are going to share with you our analysis on the USD index, and its daily time frame.

USD Index is in a bullish impulse up from 2018 lows; now with final wave 5) in play. Wave 5) that is unfolding out of a triangle correction can be an EW ending diagonal, a powerful reversal pattern that can once fully developed push price into a sharp three-wave reversal. Accompanying current EW ending diagonal are two Fibonacci ratios 38.2 and 200.0, which can react as resistance for the index.
A later drop in impulsive fashion, and below the lower Elliott wave channel line connected from 2018 lows would be a signal for a top in place, and more weakness to follow.

Trade well!

USD index, Daily