Tag Archives: Gregor Horvat

USDJPY Targets 127.00

Gregor Horvat

USDJPY remains in bullish mode on the daily time frame, despite deep downward retracement to 120.40 that looks now as a completed wave 4 because of a three subwaves down. As such, we suspect that rally since March is going to be an expanding diagonal; it’s a five wave pattern, currently with final sub-wave 5 in play that will likely be targeting 127.00 area, where top could be seen later this summer. more…

EURUSD Continues Bearish Move Towards Parity Level

Gregor Horvat

EURUSD recovered nicely since March, but we see price action choppy, overlapping and very slow compared to previous strong decline. That’s characteristics of a corrective price action, so we assume that this is just a pause within larger downtrend which may resume through August, as pattern can be near completion. Ideally pair will continue straight down into wave V targeting 1.0000 psychological level. more…

AUDUSD Is At New Low, Targeting 0.7200

Gregor Horvat

AUDUSD is at new low after the pair completed fourth wave pullback, but earlier than we thought. However, our main focus was for a continuation down to lower levels which are now coming in play as pair already trades in wave 5 of 3) that can be targeting 0.7200 soon. Based on the lasts price action we expect a bounce next week again into a fourth wave of a larger degree. more…

AUDUSD Looks For Correction

Gregor Horvat

AUDUSD is at new lows which has been expected in the last few months as rally from April to May highs has a clear corrective personality as mentioned at the time. We labeled it as wave (4), so current leg down from 0.8160 should then be wave (5), final leg within a bearish sequence. However, before we may look for a bottom formation we need five subwaves down into around 0.7000 area where bottom could be seen sometime this year. more…

USDCAD Eyes New High Around 1.3400

Gregor Horvat

On USDCAD we see more upside to come in weeks and months ahead, towards 1.3400 area where pair could accomplish wave C of a big second zigzag that is part of a contra-trend move from 2007 lows. The reason for more upside is latest pullback since March 2015 which looks like a temporary pause within uptrend. Once market will break above the highs from 2008 traders should be aware of a significant trend change, from bullish to bearish mode. more…

AUDUSD: Wave (5 ) In Play For 0.7300-0.7100

Gregor Horvat

Back in April AUDUSD has turned bullish for some time, but most likely only temporary as rally from the low was having an overlapping structure. We know that this is a characteristics of a contra-trend price action, so trend remains bearish for now within impulse that is in play since mid-2014.We see market moving sharply lower now after broken upward channel, so wave (5) is in play for a move down to 0.7100-0.7300 area. more…

GBP/USD Seems Bullish, Targeting 1.6000

Gregor Horvat

GBP/USD broke above May 14th high so looks like that rally since start of June is going to be impulsive. On the updated count we are looking at wave (C) that can rally up to around 1.6000 psychological level in days ahead. But nothing will move in straight line so traders must be aware of a short-term retracement back in wave 4 in the next few sessions, before uptrend will resume. Invalidation level is at 1.5444; as long it will hold trend is up. more…