Tag Archives: USD

USDJPY Targets 116.6

Ville Vainio

USDJPY continued the decline after NFP on Friday. My preferred wave count is looking for a 3 wave structure and is looking at this decline as wave 2 correction on the way higher. Fibonacci expansion tool on the charts gives targets of 118.6 and 116.6 respectively. These levels are 100% and 161.8% relationships for wave C to wave A. more…

EURUSD Is Bullish Above 1.1260

Nenad Kerkez

If you remember my past articles about EURUSD on 25.AUG I warned that 1.1255 is crucial for EURUSD upside. EURUSD dropped mainly because of Chinese equity markets, Shaghai index and EUROSTOXX50 futures especially at London open. Some hawkish comments about possible rate hike also gave boost to USDx which additionally lowered the pair. Yesterday we saw 2 rejections from 1.1260 each for 50+ pips and finally 1.1260 level was broken again. PMI rose to 53.3 from 51.8 and it better then preliminary estimate. more…

EURUSD Eyes New Lows

Ville Vainio

EURUSD has declined and closed below the critical level of 1.1213. This gives a stronger signal to the preferred wave count which proposes that the recent decline is the start of final larger wave down. The last wave of this massive decline should take EURUSD below the recent long term low of 1.046 and conclude the whole decline from 1.40 that started over a year ago. more…

GBPUSD Is Bullish Above 1.5620

Nenad Kerkez

GBPUSD has been trading inside an equidistant channel which supports the uptrend zig zag. The price has been making higher highs and higher lows which is showing us a scholastic example of uptrend. At 78.6 fib – deeper retracement there is a strong confluence with equidistant channel lower trend line so the price might get a bounce in the zone ( 1.5670-85 ) and try another push toward 1.5740 and 1.5780. That being said if the price gets H4 close above cam H4 level ( 1.5780 ) it will target 1.5855 the confluence spot of H5 and upper equidistant channel. more…

USDJPY Trades Lower For Correction

Gregor Horvat

USDJPY fell sharply lower last week which can be an impulsive move, headed to lower levels based on very strong bearish momentum. That said, we labeled latest recovery as wave B that is part of a complex correction; probably a flat in wave 4) that will be targeting former wave four just beneath 119.00 area. We will be looking for a new turn up from that support region. more…

EURUSD Corrective Wave Forming

Ville Vainio

EURUSD is forming a corrective minute wave (B). The last part of this large correction is half way done and should be 3 wave, A-B-C structure. The “thrust” measurement from the triangle is giving target of 1.1495 and Fibonacci expansion projection gives target about 1.1445 so those targets should give indication of the top for this minor wave Y. more…