Gold Trend Line Break Expected On A Positive Momentum

Nenad Kerkez

Gold is rejecting POC zone, and soon we might see a trend line break (blue dotted line) that could be a sign of a trend continuation. 1335-40 is the POC zone, and the trend line break is expected if the price closes above 1348. The first target is 1354.47 and continuation above should target 1365.15. A 4h close above 1365.16 should make a breakout move towards M H5 / W H5 1380-84. As long as the price is supported above M L1 around 1319, bulls should be safe. more…

GBPUSD Strength Expected

Daud Bhatti

GBPUSD Short Term Elliott Wave view suggests that the rally from 3.1.2018 low (1.371) is unfolding as a 5 waves impulse Elliott Wave Structure. Up from 3.1.2018 low, Minor wave 1 ended at 1.4245 and Minor wave 2 ended at 1.3964. Pair has since broken above Minor wave 1 at 1.4245, suggesting that the sequence from 3.1.2018 low is bullish and the next leg higher in Minor wave 3 has started. Minor wave 3 is in progress with internal subdivision as 5 waves impulse of lower degree. Up from 1.3964, Minutte wave (i) ended at 1.4022, Minutte wave (ii) ended at 1.3981, Minutte wave (iii) ended at 1.422, and Minutte wave (iv) ended at 1.4144. more…

EUR/GBP Indecision Between Trend Line Diagonals

Nenad Kerkez

The EUR/GBP has been trapped within the narrow range of W L3 and W H3 Pivot. Slow price action indicates that we might expect a breakout when volatility gets higher. At this point, the price is stalling between the two trend line diagonals that also intersect essential pivot points. Break of W H3 – 0.8737 should target 0.8760 and possibly 0.8792. However a break of D L3 – 0.8710 should target 0.8680. The EUR/GBP ATR is low, so pay attention to breakouts and corresponding targets. more…

Further Strength In USDJPY

Daud Bhatti

USDJPY short term Elliott Wave view suggests that the decline to 104.54 low on March 26 ended Intermediate wave (3). Wave (4) correction is in progress as a double three Elliott Wave Structure. A double three is a 7 swing corrective structure with WXY label. In the case of USDJPY, minor wave W of (4) ended at 107.01 and minor wave X of (4) ended at 105.62. As near term pullback stays above there, expect pair to extend higher within wave Y of (4). more…

GBP/JPY Possible Inverted Dead Cat Bounce On A Trend Line Break

Nenad Kerkez

After a typical Monday price action that was triggered by the Yen weakness the GBP/JPY continued to rise but it failed to reach W H5. A sudden drop in price and a close below EMA89 and W H4, with an interim consolidation suggests that this could be an inverted dead cat bounce pattern. POC rejections could happen within 149.25-55 zone. If the price closes below the trend line we could see a move towards 148.68 and 148.25 so the pattern will be validated. Target is 148.25. However, if the price spikes above 149.97 we might see 150.67 and the pattern will become invalid. more…

USD Index Daily And 4h View

Grega Horvat

Daily chart of US Index shows us a clear, five wave bearish impulse in the making since January of 2017, when a bigger correction as wave B was finished. This impulsive decline we labelled as wave C, final wave of an even bigger complex correction, that can be seen on even bigger time frames. Now, let’s be aware that despite this strong fall, that’s been going on for more then a year now, we think that bearish trend can be slowly ending. more…

USDJPY Can See Limited Downside

Grega Horvat

USDJPY is trading in a downtrend since end of October of 2017, which means bears can slowly start to slow down. Specifically, we see price ending corrective wave 4), the fourth wave of an impulse, which can be unfolding an EW triangle pattern. An EW triangle pattern is a complex correction, that usually unfolds prior to the final wave. This means once, corrective wave 4) fully show up, a new drop into wave 5) can be expected, which can later base on Fibonacci projection ratios find a low and a reversal near the 104.5 region. A rally in five-waves from the mentioned area would suggest a low in place. more…

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