All posts by Grega Horvat

Crude Oil Is Looking For A Final Push Higher, While Dax For A Final Push Lower

Grega Horvat

Crude oil is current trading choppy, slow and overlapping, probably trapped in a triangle correction. This triangle correction usually appears prior to the final wave within a trend, meaning a final push higher can follow on energy. Well, a confirmation for a completed triangle pattern is a visible five-wave affair within wave 4 and a break above the 57.90 level. However, even though we expect more upside in upcoming trading sessions, be aware that final wave 5 may follow and that upside can be limited. more…

AUDUSD Looking For More Weakness

Grega Horvat

Around early of September of 2017, AUDUSD completed a higher degree complex correction within wave IV. This correction ended with a five-wave drop towards the 0.7650 level, which can in months ahead result as a bigger bearish cycle. Well, this fall gives us an idea of a change in trend from bullish to bearish and can be labeled as red wave 1), that can find potential support near the 0.7562 level and from there breach higher into corrective wave 2). more…

EURJPY Searching For A Top

Grega Horvat

EURJPY is showing a nice bearish price pattern; an ending diagonal up from Oct 16 low that can cause a strong rise of JPY against the EUR. For such scenario we would need a drop on USDJPY and also fall on stocks while 10 year US notes would rise. At the moment we do not see such scenario yet, but it’s good to be prepared. technically speaking a decisive fall below 133.48 and then a retest of that same level can be a good bearish set-up for this week, but only if 134.15 high remains untouched. more…

Triangle On EURJPY Points Lower

Grega Horvat

EURJPY is showing us a complex, overlapping and slow correction, which we see it as a Elliott wave triangle pattern. We see current triangle trading in final stages, with leg E searching for resistance. Resistance can be seen near the Fibonacci ratio of 61.8, from where a new drop lower can come in play. Later a new drop towards red wave C) can follow. more…

Silver And USDNOK

Grega Horvat

Silver can be trading in final stages of a bigger bearish impulse. We see current price movement being part of wave five, that can unfold as a potential ending diagonal pattern. If price does unfold an ending diagonal, then a sharp and strong reaction to the upside can follow. Region near 17.23 can then be in view. 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…

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…