All posts by Grega Horvat

GBPUSD : Downtrend Continuation

Gregor Horvat

GBPUSD has turned bearish in the last two weeks after only three wave bounce from 1.4893 to 1.5240 which was a corrective move; a zigzag. As such, we are bearish on GBPUSD and will expect more weakness after any pullback. At the moment trend is still down but wave 1 appears complete so be aware of a corrective bounce up into wave 2 that can be looking for a resistance near 1.5000 next week. more…

More Weakness Ahead On AUDUSD

Gregor Horvat

AUDUSD is finally turning lower with a very aggressive and impulsive price action from 0.7384 where pair might have reached a top of wave 4) if we consider also a broken channel support line of wave C. As such, traders must be aware of even more weakness in days ahead, especially after black wave 2 pullback that can be very interesting for shorts. more…

AUDUSD : Correction Within Downtrend

Gregor Horvat

AUDUSD stays bearish as rally from 0.6900 was made in three waves, but based on latest price action we suspect that wave 4) will be much more complex than at first sight. We are looking at a triangle now that is placed within a downtrend of a blue wave (5) that will extend to around 0.6700 by the end of the year. After that we will look for a bullish reversal that could take place in 2016. more…

EUR Still Gaining Bearish Momentum Against The Dollar

Gregor Horvat

EURUSD fell sharply lower in the last few weeks with accelerating price action which confirms a continuation of a downtrend. We see huge possibility for wave (3) in progress that is part of a big five wave move within wave V that began unfolding at the end of September, away from 1.1700. Based on current very strong bearish momentum we may see extension towards 1.0400 this year, where we see Fibonacci projected levels for wave (3). As long as price trades beneath 1.1082 trend is down. more…

Broken Channel Indicates More Bearish Movement For OIL

Gregor Horvat

Crude oil made only three waves up in September that we labeled it as a zigzag in wave 4. Notice that that wave 4 moved up into the area of a former wave four near 50.80 from where price turned down very sharply, through the lower support line of a corrective channel. This breakout confirms continuation lower, so we suspect that price is headed back to the lows of 2015. We see wave 5) of (C) that can be targeting even $30 in months ahead. more…

GBPUSD : H&S Pattern Suggests More Weakness In Sight

Gregor Horvat

Pound fell sharply yesterday across the board, especially against the USD. We can see a new leg down for more than 200 pips beneath the trendline connected from October 13th which suggests that price is headed much lower. From an EW perspective we see a completed wave (2) now at 1.5500 so current decline is impulsive that should finally break below 1.5105 low from end of September. At the same time we see bearish head and shoulder pattern, now completed as well which also suggests lower prices in days ahead. more…

AUDUSD : Price Trading Near Channel, More Gains Could Follow

Gregor Horvat

AUDUSD is trading higher after no change in rates from the RBA members. Price rallied nicely up to 0.7200, now trading at resistance line of a corrective channel where successful breakout with a daily close around 0.7250 would put bullish prices back in play. In that case we will look back towards 0.7400 as decline from October highs would be treated as a completed correction. more…