Tag Archives: EUR

Elliott Wave Analysis On EURUSD And Crude OIL

Gregor Horvat

EURUSD is at the lows, so we are now even more confident that pair is making an extended wave three down from 1.0925. We see blue wave three already making a fifth sub-wave to the downside and that is why we need to be aware of a new short-term recovery that can show up. We are talking about blue wave four that can be very interesting to join the downtrend from around 1.0770/90 while price at 1.0864 is not breached. more…

EUR/USD High Momentum Candles On 4h Time Frame

Nenad Kerkez

The Trump’s victory on election reflected on the EUR/USD pair both during the elections and after London open. The pair spiked exactly as predicted in the┬álatest EUR/USD analysis. As expected, the USD plummeted at the pinnacle of the vote count for the US Presidency, with the USD Index touching 95.83. We saw a movement of funds to safe haven currencies like the JPY and CHF, and surprisingly the EUR strengthened too. We saw the EURUSD hit 1.13 during those moments of the vote count, and yet we don’t know the overall impact on global trade as a result of Trump’s trade protectionism plans. We still need to wait and see if the funds leave the USD again. more…

Elliott Wave Analysis On AUDNZD And EURGBP

Gregor Horvat

For those who cannot stay aside during the elections I recommend to look for non USD pairs, as they can be less volatile. Below I am looking at AUDNZD that I would be looking to trade, but after the elections results. Chart shows a clear pattern; five waves up from 1.0235, followed by a contra-trend reaction that can either be finished at recent low, or maybe support will be found near the 1.0350-1.0400 area by the end of the week. The price action is bullish and it suggests more gains while market is above the 1.0235 mark. more…

EUR/AUD M Double Top Shaping Up

Nenad Kerkez

The EUR/AUD is making a progressive M pattern characterized by a double top which in turn makes a POC zone (H3, DPP, trend line) 1.4340-50. The move has already happened so any retest could reject the price again (2nd rejection). Ideally inner trend line should hold for continuation of bearish move. Further continuation is seen below the inner trend line and if H1 candle closes below 1.4280. Close below would target 1.4245 and h4 close below 1.4245 should aim for 1.4185. more…

EUR/GBP Is Forming Reverse Bearish Divergence

Nenad Kerkez

The EUR/GBP is coming closer to important resistance and the price is forming┬áreverse bearish divergence. As we can see on our daily chart, the price has formed bearish pinbar so it might reject off the zone and start retracement move. The possibility that the price might reject off 0.8855 zone towards H4 and H3 camarilla pivots gets even more pronounced if we see double top( or chart pattern close to double top). However if the price retraces to POC ( EMA89,61.8,bullish order block) within 0.8760-70 zone we might see another trend trading opportunity towards 0.8850 again. Have in mind that divergence is not confirmed until we see a double top-ish price. If it doesnt happen In the case the price proceeds further above the high, 0.8900 could be tested short term. more…

EUR/USD Is Waiting For USD Core Durable Order News

Nenad Kerkez

The EUR/USD is in a range mode waiting for Cored Durable Order data that is scheduled for 12:30 GMT. It represents the change in the total value of new purchase orders placed with manufacturers for durable goods. If the result is better than expected USD should gain strength and it could be astraight drop from current levels. Bad result could see EUR/USD retracing towards POC within 1.1230-40 zone where we can see confluence of 61.8 and inner trend line. The zone might reject the price towards 1.1188 as the higher time frame trend is bearish. Only a 4h close below 1.1188 should spike the price further down towards 1.1150 and 1.1080. If bears fail to tank the price, a bullish spike above 1.1260 might lead the pair to 1.1300. more…

EUR/CHF Bullish But Close To Historical Sellers

Nenad Kerkez

The EUR/CHF is in a strong uptrend but it is getting close to historical sellers. As we can see on the chart, the inner trend line has been broken and the pair is currently slightly above H3 – in no man’s land. There are 2 scenarios. If the pair gets to historical sellers we could see sellers taking over the pair. POC2 (H4, quad-top, historical sellers) 1.0925-1.0935 is the zone for short entries towards 1.0890. Conversely, 1.0890-1.0900 POC ( inner trend line, L4, EMA89, DPP) is the zone where we might expect bounce towards 1.0930 zone. Pay attention to movement as the range is small and the pair is in the middle of nowhere at this point. more…

Elliott Wave Analysis On EURJPY And SILVER

Gregor Horvat

EURJPY Markets are very slow today after we have seen action on friday following NFP report. Here we have EURJPY now that made a deep pullback in the last four weeks, but for now still with three waves from around 118.40 which appears to be a corrective move. Notice that price has made five subwaves down in wave C which is now turning up from the lower support channel line. Current bounce looks very promising for bullish price action ahead that may lift price even back to levels from July highs if upper trendline is broken. more…