GBP/JPY MACD Divergence At Monthly Support

Nenad Kerkez

The GBP/JPY has made a temporary bottom at 141.25 and we can see MACD divergence that could push the price to the upside.141.25-50 is the zone where price might spike towards the 142.60-85 where new sellers might be waiting. Only a clear 4h close or h1 momentum above 142.90 should target 143.40. Bearish continuation happens only below 140.90, but at this point, the GBP/JPY is supported by Monthly and Weekly supports and bullish MACD divergence. more…

AUDUSD Daily And 4h Look

Grega Horvat

AUDUSD is unfolding a bigger bullish leg to the upside, which can be labeled as a higher degree wave C. This wave C can be part of a bigger three-wave recovery, that is unfolding since November of 2015 (visible on the daily chart). However, we belive this big three-wave recovery may be ending, which means upside can be limited and a new change in trend can follow more…

Gold: More Upside

Daud Bhatti

Short term Gold (XAUUSD) Elliott Wave view suggests that rally from 7/10 low is unfolding as a a double three Elliott wave structure. Up from 7/10 low (1204.69), Minor wave W ended at 1274.11 and pullback to 1251.27 ended Minor wave X. Wave Y is currently in progress as a zigzag Elliott wave structure where Minute wave ((a)) is expected to complete with one more leg higher and can reach as high as 1294.3 – 1304.6, then it should pullback in Minute wave ((b)) before the rally resumes, We don’t like selling Gold and expect buyers to appear again after Minute wave ((b)) pullback is complete in 3, 7, or 11 swing, provided pivot at 1251.27 low remains intact. more…

EUR/USD Two Breakout Points Outside The Equidistant Channel

Nenad Kerkez

The EUR/USD has perfectly rejected from both POCs after the setup and analysis shown on Weekly Recap and at this time it is very clear that the equidistant channel is trapping the price keeping the range bound market still in play. After a fake-out that happened yesterday 1.1720-1.1690 (which was still good to trade as a breakout trade, and what I showed during the Live Trading webinar) we can see two POC zones within the equidistant channel that might push or tank the price. If the price spikes above 1.1778 (EMA89, D H3, channel high) the target is 1.1798 and 1.1825. Above 1.1832 we should see a continuation towards more…

EURUSD Daily And 4 Hour Outlook

Grega Horvat

On the daily chart of EURUSD we can see a nice rising price activity since start of 2017, which can be labeled as a higher degree wave C) in the making. We know that wave C) is an impulse, which means it must consists out of five sub-waves. Well, here we already see three, which means once the upcoming wave 4 correction unfolds, a new push higher into final wave 5 of C) may start to develop. We also see Fibonacci ratio of 261.8 being touched, which can act as resistance for wave 3 and push prices lower into wave 4. more…

USDCAD: Correction Ended

Daud Bhatti

Short term USDCAD Elliott Wave view suggests the decline to 1.2411 ended Intermediate wave (3) of an Elliott Wave impulse structure from 6/2 peak. Intermediate wave (4) bounce is in progress as a flat Elliott wave structure where Minor wave A ended at 1.2576 and Minor wave B ended at 1.2416. Minor wave C is subdivided as an impulse Elliott Wave structure. Up from 1.2416 low, Minute wave ((i)) ended at 1.253 and pullback to 1.2443 ended Minute wave ((ii)). Pair then rallied more…

Elliott Wave Analysis: EURUSD And NZDUSD

Grega Horvat

Good day traders! Today we’re gonna take a look at some intraday charts. The first one is EURUSD. The EURUSD is trading nicely higher today, probably in final stages of a higher degree bullish impulse. Ideally current rally since 28th of July is the final push of a black wave v of v), that will search for limited upside near the middle or upper channel line. From the mentioned region a new change in trend can come in play. more…

Dow Futures: Extending Higher

Daud Bhatti

Short term YM_F (Dow E-Mini Future) Elliott Wave view suggests the rally from 6/29 low is unfolding as a double three Elliott wave structure and ended with Minor wave W at 21628. Down from there, Minor wave X pullback unfolded as a running Elliott Wave flat. Minute wave ((a)) ended at 21457, Minute wave ((b)) ended at 21624, and Minute wave ((c)) of X ended at 21446. Index has since made a new high suggesting the next leg higher has started. Up from 21444 low, Minutte wave (w) ended at 21734 and Minutte wave (x) pullback ended at 21632. Near term, Index is pulling back in Sub Minutte wave ii to correct cycle from 7/27 low (2163) then it should turn higher again. more…

Elliott Wave Analysis: GBPJPY and USDJPY

Grega Horvat

GBPJPY is making a five-wave bearish structure within blue wave c as part of a three-wave consolidation. We see current intra-day structure unfolding an overlapping movement, which can mean a potential ending diagonal within red wave v) of c can be in progress. If that is the case, then once current red wave v) fully unfolds a sharp and strong reversal to the upside can come in play. more…

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