Tag Archives: Ville Vainio

More Upside On EURUSD This Week

Ville Vainio

FOMC Thursday sent EURUSD lower. The statement did not say anything new and the rate hike nonsense is not any more clear than before. In my opinion there is going to be probably one rate hike but no more. EURUSD has declined since Wednesday and the decline is looking strong. If EURUSD goes below the recent low at 1.0808 my wave count needs a revision. I am going to keep this wave count which suggests a large triangle. more…

EURUSD Is Giving Mixed Signals

Ville Vainio

EURUSD pushed higher Thursday and this puts my wave count to jeopardy. This is still valid count and the upwards move is in 3 waves. If the upwards price action persists, there is likely another count more suitable here. The recent low allows the triangle scenario which I have talked about before. If EURUSD continues higher I am going to adopt the triangle count below. more…

EURUSD To Make New Lows To 1.0695?

Ville Vainio

EURUSD was on a down note with the Greek vote last week adding some volatility to this pair. In my opinion, no matter what, Greece is staying on the Euro zone. I am expecting this pair to decline further before turning bullish for the next corrective wave up. If this is going to be a triangle forming here, the decline should be subdued. If this is following my preferred wave count, This can go much lower. We will find out soon enough which view is correct. more…

Oxi!

Ville Vainio

Greeks voted no! without realising the implications of this result. There was not a big reaction on the currency market at the start of trading but the worst is probably still ahead. Market gapped about 100 pips in EUR/USD so nothing major was the result of Greece referendum. My preferred wave count sees this gap low as minuette wave 2. I am looking for bullish upwards move next for this pair and overall strength on Euro. Next upside target is 1.1118 and key levels after that are 1.117 and 1.124 respectively. If this start to decline more, 1.0954 (today’s low) is invalidation level for this wave count. more…

EURUSD Closes The Gap

Ville Vainio

150 pip drop which continued to just over 200 pips on its lowest. This was the result on market open to reflect the news about Greece not getting any more money from taxpayers around Europe. This gap has completely recovered by now and I have labelled this bottom as minute wave B. I am expecting this to start a bullish phase towards new long term highs. This minute wave C of minor wave Y is going to be 5 wave structure and the eventual target for this wave is 1.183. more…

GBPUSD Correcting Before Final Wave

Ville Vainio

GBPUSD is dropping lower and approaching the 23,6% fibonacci retracement level. I have forecasted this correction to bottom on this level but it can go lower. After this correction has found its bottom, I am looking for one more wave up before larger corrective decline.

June 19, 2015 @ 9:50 am – GBPUSD has come down a little. I see this as minuette wave 4 correction which has more to go on the downside. Perhaps 23,6% retracement level is enough for this to bottom and turn back up and continue the uptrend for the final 5th wave. more…

GBP/JPY Nearing Important Reversal

Ville Vainio

June 15, 2015 @ 4:33 pm – GBP/JPY on a sideways price action so far today. I am looking for a little more upside before larger reversal can occur. 193.00 or little above that would be plausible target for this ending diagonal pattern to find its peak. This uptrend has been weakening for weeks and can end violently and swiftly. When this reversal takes place I am expecting a multi month bearish trend. more…

EUR/CAD Break To The Upside?

Ville Vainio

June 11, 2015 @ 2:31 pm – I have gone with the triangle scenario here in EUR/CAD. This pair is again right on the support zone around 1.38 and has been rejected couple of times before. If this triangle scenario proves correct, we should see a push upwards and the thrust measurement from the triangle gives target of 1.416 for the next wave.
Remember that if this declines past 1.375 this wave count is wrong and need to be revised. more…