Tag Archives: USD

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…

AUDUSD Looking For More Weakness

Grega Horvat

Around early of September of 2017, AUDUSD completed a higher degree complex correction within wave IV. This correction ended with a five-wave drop towards the 0.7650 level, which can in months ahead result as a bigger bearish cycle. Well, this fall gives us an idea of a change in trend from bullish to bearish and can be labeled as red wave 1), that can find potential support near the 0.7562 level and from there breach higher into corrective wave 2). more…

USD/CAD Is Waiting For Fundamental Data Release

Nenad Kerkez

The USD/CAD has formed a double top pattern exactly at D H3 pivot. At this point we see a retracement that shows another proof how strong camarilla pivot points are. From a fundamental point of view the market might be waiting for ADP data today as well as CAD Employment change and trade balance. We should see a bit of volatility during the NY/LO Session overlap. From a technical point we see the two POC zones. The first POC 1.2840-55 (order block, EMA89, D L4, 23.6) or the second POC zone 1..2800-15 (inner TL, D L5, 38.2, order block) might reject the price towards 1.2915, 1.2940 and 1.2982 on good ADP / bad CAD data. However if the price drops due to bad USD / good CAD data breakout below 1.2798 should target 1.2774, 1.2740 and 1.2726. Mixed data should keep the price action within the technical outlook. more…

AUDUSD Support At 0.7815

Daud Bhatti

AUDUSD Short Term Elliott Wave view suggests that Primary wave ((W)) ended at 0.7731 on October 6th low. Up from there, Primary wave ((X)) is currently unfolding as a double three Elliott Wave structure. Intermediate Wave (W) of ((X)) ended at 0.7807 and Intermediate wave (X) of ((X)) ended at 0.7815. Near term, while pullbacks stay above 0.7815, but more importantly above 10/6 low at 0.7731, expect pair to extend higher. At this stage, pair still needs to break above Intermediate wave (W) at 0.7815 to give more validity to this view. Until then, we can’t rule out a double correction in Intermediate wave ((X)). more…

EUR/USD Trend Lines In Confluence With POC Zone

Nenad Kerkez

The EUR/USD is in a strong bullish trend and as we can see on the chart the price has pierced through 1.1800 driven by risk sentiment and the Spain situation. Today FOMC meeting minutes are the most important event so we might see two-way price action. At this point the price is still going up straight from the trend line and 23.6 fib. Continuation above 1.1855 aims for 1.1880 and 1.1895. However, if the price gets in a retracement phase watch for 1.1760-75 zone (D L4, EMA89, trend line, ATR low, W H3). Targets remain the same if the pair breaks 1.1810 on the bounce up. Only a move below 1.1750 might make a bearish breakout towards 1.1720 and 1.1695. more…

EUR/USD Downward 4 Hour Channel is Broken

Nenad Kerkez

The EUR/USD is trying to break the downward PPR channel and at the same time push above the AP channel. I am favoring a bullish bias as long as 1.1692 holds as I previously analysed in the EUR/USD analysis. If bullish scenario persists 1.1822 is the target followed by 1.1873 and 1.1916. Of course, for that to happen bullish momentum needs to be strong. 4h close above each important level is needed for the price to stair-step to next level (1.1822-1.1873-1.1916) The bullish bias is accompanied by a bullish divergence within the POC zone 1.1750-80. Have in mind this is a completely counter trend outlook. more…

Silver And USDNOK

Grega Horvat

Silver can be trading in final stages of a bigger bearish impulse. We see current price movement being part of wave five, that can unfold as a potential ending diagonal pattern. If price does unfold an ending diagonal, then a sharp and strong reaction to the upside can follow. Region near 17.23 can then be in view. more…