Cryptocurrencies Short Term Update

Daud Bhatti

The leading cryptocurrencies BTCUSD & ETHUSD rallied up from 09/15 low in a 3 waves Zigzag structure which ended wave (1) as part of an expected 5 waves diagonal to the upside. Both instruments is now doing a short term pullback in wave (2) as a double three toward equal legs area ($3740 – $3549 for bitcoin) and ($269 – $253 for Ethereum) where it should resume higher or bounce in 3 waves at least. more…

USD/JPY Price Congestion Prior To FED

Nenad Kerkez

As inflation recently in the US has had a recent slight increase near 1.9% p.a., it is still below their target range. Despite this, Actual QoQ GDP Growth has increased to 3%, well ahead of forecast and consensus, and this has seen Forward Company Earnings improve in the US also. The Fed will be conscious of all of this, however, as they saw a small increase in Unemployment and Inflation still below their target levels, they are inclined to keep the rates flat for this month. more…

DXY Expected To Extend Lower

Daud Bhatti

DXY Dollar Index Short Term Elliott Wave view suggests that the Index ended Primary wave ((3)) at 91.01. Primary wave ((4)) bounce is proposed complete at 92.66 as a double three Elliott Wave structure. Wave (W) of ((4)) ended at 92.01, wave (X) of ((4)) ended at 91.71, and wave (Y) of ((4)) is proposed complete at 92.66. Down from there, Intermediate wave (1) ended at 91.97. Intermediate wave (2) bounce is in progress in 3, 7, or 11 swing to correct cycle from 9/14 peak. While bounces stay below there, expect Index to extend lower. We don’t like buying the Dollar Index. more…

GBPUSD: BOE Decision Important Levels

Nenad Kerkez

The Bank of England MPC decision is due at 11 PM GMT. Market is expecting that policymakers leave interest rates at 0.25 %. But what traders and investors should be focused at is how many of policymakers will vote for a hike and how many will be against the hike. Technically the GBP/USD is in uptrend but that can easily change after today’s data and MPC official bank rate votes. 1.3270-85 is the important zone (W H3, D H4, ATR projection high) and the price could reject from the zone once the zone is hit. If the price proceeds above the zone 1.3330-1.3365 more…

Elliott Wave Analysis: German DAX, S&P500 And NZDUSD

Grega Horvat

Stocks and XXX/JPY pairs gaped nicely higher during the weekend, and it looks that more gains may follow soon on equity markets. We are looking at both; DAX and E-mini S&P500 which can be headed much higher this week as we see recent downward corrections completed. Dax is in impulse up, ideally within wave 3) headed up to 12500-12550, while S&P500 can be underway to new all-time highs as we called end of a wave b set-back already on Friday. more…

GBPUSD: More Upside

Daud Bhatti

GBPUSD Short Term Elliott Wave view suggests that the rally from 8/24 low is unfolding as an impulse Elliott Wave structure. Up from 8/24 low (1.2773), Minor wave 1 ended at 1.2979 and Minor wave 2 ended at 1.2851. Minor wave 3 is in progress and the subdivision is unfolding as an impulse Elliott Wave structure. Minute wave ((i)) of 3 ended at 1.2947, Minute wave ((ii)) of 3 ended at 1.2907, Minute wave ((iii)) of 3 ended at 1.3082 and Minute wave ((iv)) of 3 ended at 1.303. Minute wave more…

USD/CAD Down After An Unexpected Rate Hike

Nenad Kerkez

As we have seen tightening in the US by the Fed over the past year, there usually is a correlation with other Western economies following the US lead in returning Monetary Policy to historical levels. In this case, the BoC had increased their rate for the second time in recent months largely following an improvement in GDP Growth, along with price stability in their major export Oil and Gas. Needless to say, BoC is somewhat hamstrung with its ability to continue hiking due to its high household debt levels along with real estate prices in Toronto having dropped 20% since April 2017. more…

USDJPY And German DAX

Grega Horvat

Good morning traders, and welcome to a new busy month which could be very interesting for the markets, that began with a new North Korea nuclear test that caused a gap lower on stocks.

Normally markets quickly recover after such events, so wondering if this time will be the same. Gaps as you know will normally be filled, so with that in mind, we think that upside on E-mini S&P500 is not done yet and that USDJPY can be in fact in final stages of a current wave c. more…

Better trader, better profits.