All posts by Grega Horvat

S&P500 And DAX Trading Bearish

Grega Horvat

Stocks have turned nicely lower this week, with E-mini S&P catching the downside that occurred on DAX already last week, so it appears that both markets; US and Europe are now in a temporary weakness. Technically speaking we see more downside coming as decline on E-mini S&P500 turned out to be a five wave move from the top, so we know that weakness should resume after a three-wave rally. There is a nice resistance at 2844 from where new leg may occur. more…

Video Analysis: German Dax

Grega Horvat

On the daily chart of German DAX, we can see that price is trading bullish, ideally in a bigger impulsive cycle of a blue wave Five. This blue wave five is an impulse, which means it has a clear structure and has five waves. Specifically, we see price trading within a probable minor correction of blue wave five, in sub-wave IV, which can and usually goes slow and choppy. Well, if price trades as expected, then we think more choppy and slow activity may unfold on DAX within wave IV, before a new leg higher into final sub-wave V starts going. more…

Bulls Pushing Price Higher On Crude Oil

Grega Horvat

Crude oil has completed a complex correction labeled as wave II or B at the 42.03 level from where we started to track a new bullish impulse. An impulse is a five wave pattern, so there is room for much more gains on energy market since we see current leg up as blue wave 3 of an impulse. Wave three has in general five clear waves, which means oil price can still climb up to 60/61.9$ per barrel. more…

USDCHF Trading At The Start Of A Bullish Leg

Grega Horvat

On the daily chart of USDCHF we can see that price was trading quite choppy for the last two years and unfolded a bigger 3-3-5 EW Flat pattern. Well recently this flat found a low near the 0.9417 level for wave B and recovered nicely higher and eventually began a bigger rally after price breached above the trendline connected from December of last year. That said, this break now suggests a change in trend, from bearish to bullish and that a higher degree five-wave impulse may unfold within black wave C of Y). more…

Video Analysis: AUDJPY, NIKKEI, OIL, USDCAD

Grega Horvat

USDCAD was trading bearish through May 2017 and through September. We can see that a five-wave impulse had unfolded on the daily time frame and later found a low at the 1.2058 level. From there a new bullish movement followed, which we labeled it as wave A, first wave of a three-wave recovery which means more gains is expected to occur after current wave B is finished, which can look for a base around 1.2600 and also complete a bullish H&S pattern. more…