Tag Archives: Gregor Horvat

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…

EURUSD Facing A Correction

Gregor Horvat

EURUSD fell again on Wednesday after recent consolidation to 1.1090 that we labeled it as wave 4. After that we have seen wave 5 down now that hit 261.8% extension of wave 1 which means that support can be near. We can already see some recovery back to 1.1000 so ideally correction is now in play back to 1.1100-1.1150 resistance area, from where new leg down may occur at the start of November. more…

EURUSD : Bearish Waves In Play

Gregor Horvat

Finally, EURUSD weakness is here; pair fell sharply last week through 1.1300 level and even finished trading on Friday beneath 1.1081 which was our minimum objective target. But because of very strong downside momentum with impulsive price action we think that pair will fall much deeper. As such, any bounce in the meantime, will be corrective. First one may already occur this week with wave 4 retracement back to around 1.1080-1.1130 resistance from where we would expect more downside. Generally speaking we see pair now in strong bearish mode, with first five waves from 1.1496 headed to 1.0800/1.0900 area.
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EURUSD : More Bearish Momentum Is Expected

Gregor Horvat

EURUSD fell sharply lower last week with accelerating price action beneath 1.1000 level 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 1.0400-1.0500 area this year, where we see Fibonacci levels for wave (3). For now invalidation level remains at 1.1500; as long it will hold trend is down. more…

GBPUSD Trading Near Resistance; Downtrend Continuation May Be Near

Gregor Horvat

Pound has moved higher last week, more than we anticipated but still with potential corrective structure. We see three legs from the lows with wave (c) now trading near resistance. Usually corrections of second waves will retrace for nearly 50-61.8% compared to previous five wave move which in our case is very near so bearish turn may follow in sessions ahead. At the same time we also see cable at resistance of the previous swing low from Sep 16th. Technically speaking bears can cause a turning point soon, but downtrend continuation will be confirmed only when price goes beneath 1.5244. more…