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EW ANALYSIS: EURCAD Can See A Bigger Corrective RecoveryHello traders! Today we will talk about an interesting pattern on EURCAD. Looking at the daily chart, we have seen sharp and impulsive decline in 2018, which looks like a leading diagonal in wave 1, so it's the first leg away from top that can be a signal of a bearish reversal! The most important thing for us is that we have seen only a three-wave a-b-c corrective rally in wave 2 at the end of 2018, from where we have seen another sharp and impulsive decline, right from the right shoulder of the potential Head&Shoulders pattern that can be clearly seen in the 4-hour chart and it can be indicating a bearish continuation. For now, that neckline of H&S pattern acting as a strong support, but once we see a break out below that neckline, then this would be a confirmation for a bearish continuation! So, looking at the 4-hour chart, after that five-wave drop we have to remain bearish, but before a bearish continuation, we may see another three-wave (a)-(b)-(c) corrective recovery of a lower degree, where wave (b) seems to be a bullish triangle pattern. That being said, watch out for another rally for wave (c) once a triangle in wave (b) fully unfolds, ideally into 50%-61,8% Fibonacci retracement and 1.5300 resistance area, where bears may show up again! Of course, there can be even something more complex, but as long as it's trading beneath 1.5640 invalidation level, we will remain bearish! Trade well! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
EW ANALYSIS: USDJPY Remains BullishHello traders! Today we will talk about USDJPY! After a big three-wave A-B-C corrective decline in March, USDJPY made a nice five-wave recovery that can be a signal of a completed correction within ongoin uptrend, especially after that possible inverted H&S pattern and intraday W-X-Y corrective pullback. So, if continues higher back above 111.60 region, then we can confirm a bullish continuation within wave 3 back above 112.15 area and higher! However, in case if goes more complex, we remain bullish as long as it's above 109.70 invalidation level! Trade smart! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
5
EW ANALYSIS: EURNZD Is Looking Higher; Inverted H&S pattern?!Hello traders, let's talk about EURNZD! EURNZD is looking good here with a nice bullish setup after a completed big corrective decline at 1.6290 level. There's also a clear inverted H&S pattern, which indicates a bullish reversal! So, EURNZD can be now consolidating within wave (ii), where ideal support would be around 61,8% Fibo. retracement, 1.6500 level and at that channel resistance line. Technically speaking, if we get a bounce back above 1.6615 region, then it may start accelerating to the upside within wave iii). In case if goes more complex, invalidation level remains at 1.6290. Trade smart and be humble! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
Elliott Wave & Intermarket Analysis For DOW JONES And AUDJPYHello traders! Today we will talk about positive correlation between stocks and xxx/jpy cross pairs, while we are in RISK ON sentiment. Well, as you know, stocks are in uptrend and there can be room for more upside once a bigger correction fully unfolds. At the same time, xxx/jpy pairs are usually in positive correlation with stocks that can be clearly seen in the first chart above! The best examples at this stage are Dow Jones and AUDJPY, where we see a potential bullish triangle in progress which may take some time, because we still see an unifinished five-leg A-B-C-D-E sideways movement. Currently we are observing a three-wave (A)-(B)-(C) rally to the upper side of a triangle range for wave D, from where we may see another sell-off for wave E and once a wave E completes, this is when a big triangle can be finished that can push the price back to highs! These triangles are valid while price keeps trading above blue wave A swing low and bullish confirmed can be only above blue wave B swing high! That said, we are patiently waiting to see if the triangle will unfold as we wish! Trade well! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
DJ:DJIEducation
by ew-forecast
4
EW ANALYSIS IN DETAILS: NZDUSD Forming Bullish Setup?!Hello traders! Today we will talk about Kiwi (NZDUSD) and we will show you how EW works in details if you have the right approach! Well, Kiwi made a nice five-wave rally with extended wave (v) into a wave "i" last week, which in EW usually suggests a bullish reversal! So, after every five waves, a three-wave pullback follows in wave "ii", and as you can see, at the beginning of this week, Kiwi slowed down in a three-wave (a)-(b)-(c) correction, which can be approaching the end soon, right here around important 0.6800 support area! That said, if we see a sharp bounce here in the projected support area, followed by a break back above 0.6865 region, then we can confirm our wave count which can send price even much higher within wave "iii" towards 0.69 - 0.70 area or maybe even higher! Anyway, keep in mind that corrections can be very complex, for example deeper or more sideways price action. So, as long as price remains above 0.6745 invalidation area, we will remain bullish! Trade well! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Education
by ew-forecast
EW ANALYSIS: EURCAD Just Started A Three-Wave CorrectionHello traders! Today we will talk about EURCAD! Well, looking at the 4-hour chart, it's trading impulsively bearish, but in the last couple of weeks price has slowed down, which gave us an idea of a completed five-wave drop, where fifth wave was an ending diagonal. regardin EW, when ending diagonals fully complete, usually sharp and impulsive reversals occur and seems like it's just happening! That said, we believe that EURCAD may start recovering into a bigger three-wave A-B-C correction, so watch out for more upside here back to 1.5220 – 1.5300 resistance area, where bears may show up again! If from any reason goes higher or more complex, we remain bearish as long as it's trading below 1.5640 invalidation area! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
1
EW ANALYSIS: BATBTC Ready To Jump?!Hello traders! Today we will talk about Basic Attention Token against the BTC. (BATBTC) Well, cryptocurrencies look more and more interesting in 2019 after that long and big correction in 2018. So, one of those cryptocurrencies which can be showing a clear pattern and some nice bullish evidences is BATBTC. What we see is a completed big (A)-(B)-(C) correction from January till September in 2018, from where we can clearly see a five-wave rally into the first wave of a bullish cycle till November of 2018, where price dropped again in an A-B-C correction of a lower degree. And, as you can see, in February of 2019, we have seen a nice bounce, exactly from important 78,6% Fibonacci retracement and 0.000030 psychological support level. We believe that BATBTC has formed a nice bullish setup here that can be pushed into an explosive third wave towards 0.000093 - 0.00011 area! But, to confirm our wave count, we need a break above 0.000060 bullish confirmation level before it drops back below 0.000030 invalidation level! Trade well! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
1
Triangle On Treasuries Suggests Limited Upside On StocksHello traders! Today we will talk about treasuries (10year US Notes) and stocks (S&P500). Well, as you may already know, treasuries and stocks are more or less in negative correlation and what we have noticed that 10y US Notes can be forming a big bullish triangle, while S&P500 can be finally finishing a five-wave rally from lows. In EW theory, triangles are usually continuation patterns, so seems like treasuries can be headed higher, which means that stocks can see limited upside, especially now when we can clearly see five waves up from lows and according to EW rules, after every five waves, a three-wave pullback follows! That said, if we are right, then ideal scenario would be a rally into the final wave "v" on treasuries, while stocks may see a deeper a-b-c correction! So, be aware of a potential sell-off and risk-off mode on stocks. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
UEducation
by ew-forecast
EW ANALYSIS: EURNZD In A Big Three-Wave Corrective RallyHello traders! Today we will talk about EURNZD which has pretty clear pattern. When using the EW, everyone can count up to five, but only few analysts have the right approach and this experience can only be gained through multi-year practice. Well, looking at EURNZD, we can clearly see a big impulsive five-wave drop away from 1.7930 highs into a wave A, which means that the trend is currently bearish, but before a bearish continuation, EURNZD must first finish a big three-wave a-b-c corrective rally in wave B that can find resistance ideally around 61,8% Fibonacci retracement and around 1.73 – 1.74 levels! That said, we believe that wave c/B is still missing, which should be made by five waves, so don't be surprised if EURNZD starts to rise sharply in the next few days/weeks. But, you know where is the limit and till then, there's room for 600-700 pips, so maybe would be nice to catch some longs since we have seen a sharp bounce in the last couple of days that can be the beginning of a five-wave rally for wave c/B! Remember, the major trend remains bearish as long as the price trading below 1.7930 highs! We are currently just observing a bigger correction which may become even more complex, so any earlier sharp decline back to 1.6330 lows would be an indication that correction could be already completed! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Education
by ew-forecast
EW ANALYSIS: Ethereum Just Finished An Expanded Flat CorrectionHello Crypto lovers! Let's talk about Ethereum! Well, just like Bitcoin, even Ethereum made sharp and impulsive five-wave rally at the end of December in 2018. And such sharp legs usually indicate a reversal, at least for a bigger correction of a higher degree! So, after that impulsive leg A/1, ETHUSD dropped into a wave B/2 correction, which we see it as a big expanded(irregular) flat pattern! Flat corrections are made by three legs into wave "a", three legs into a wave "b" and motive wave "c" should be completed by five waves. And, as you can see, Ethereum made a clear 3-3-5 expanded flat correction back to ideal 61,8% - 78,6% Fibonacci retracement and 100 support area! That said, we believe that Ethereum can be ending a big a-b-c expanded flat correction here in wave B/2, from where we should see a bounce back to highs for a wave C/3. So, if ETH turns sharply back above 120 region, then we may start considering bullish scenarios. However, ETHUSD may go even more complex here, so as long as it's moving above 80 invalidation area, we will remain bullish! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
BITSTAMP:ETHUSDEducation
by ew-forecast
16
EW ANALYSIS: Bitcoin Cash Ready To Fly?!Hello Crypto traders! Let's talk about Bitcoin Cash! Bitcoin Cash was one of the first in which a rise occurred at the end of December in 2018. And now, it could be the first one that can complete a correction since we see both, BCHUSD and BCHBTC at important support area between 61,8% and 78,6% Fibonacci retracement! But, the most important from EW perspective is that we can clearly see a three-wave a-b-c corrective structure from highs, where wave "a" is a leading diagonal, wave "b" is a triangle and motive wave "c" ended by five waves! That said, we really like Bitcoin Cash for a potential bullish turn here, but we need confirmations, so if we see a sharp bounce or a five-wave rally away from current support area, followed by a break above previous wave "b" (BCHUSD above 167 and BCHBTC above 0.043), only then we can confirm a completed correction and we can start considering bullish scenarios! Invalidation levels remain at December 2018 lows! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
4
EW ANALYSIS: NZDUSD Is Beginning To Turn BullishFX:NZDUSD The Kiwi formed a clear five-wave rally from 0.6425 lows, which in EW theory suggest more upside after a correction. As you can see, pullback was deep, but complex with overlapped wave structure and also nicely within channel range, so we assume that this was just a double zig-zag W-X-Y corrective decline. And yes, The Kiwi bounced idealy around 61,8% Fibonacci retracement, so seems like the support has been found at 0.6585 level. That said, we think that NZDUSD made a nice bullish setup that can send price back to highs 0.6970 highs or maybe even higher. Just have in mind that we still need a confirmation for this, so bulls can be confirmed only above 0.6880 region! Of course, this may take some time, it could stay sideways or it can go even more complex, but anyhow, we will remain bullish as long as it's moving above 0.6425 invalidation area. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
EW ANALYSIS: GBPCAD Has Just Started A Three-Wave CorrectionHello traders! We see quite clear and interesting pattern on GBPCAD. Looking at the daily chart, we can see a clear A-B-C corrective structure with a triangle in wave B, especially after that sharp and impulsive decline and this is the first reason why we are bearish. Looking at the hourly chart, we can see a five-wave drop away from that C at 1.7500 level, which confirms more weakness, but after a three-wave a-b-c corrective recovery, ideally back to a previous wave »ii« resistance area around 50% - 61,8% Fibonacci retracement and between 1.7080 – 1.7150 levels, maybe even 1.7200. In case if goes even higher or more complex, we remain bearish as long as it's trading below 1.7500 highs! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
EW ANALYSIS BTCUSD: BITCOIN CAN BE TURNING BULLISHHello Crypto lovers! BITSTAMP:BTCUSD turned sharply and impulsively up away from around 3100 level with five waves into wave A/1. We have actually expected a reversal around 3000 area, but we wanted to be sure. So, five waves up suggest a bullish reversal, but in EW theory, after every five waves, a three-wave pullback follows, which may occur in January of 2019. That said, be aware of a deeper a-b-c decline into a wave B/2 before a bullish continuation for wave C/3. An ideal support would be between 3800-3500 area, where we may see even a potential inverted H&S pattern. If from any reason drops back below 3100 invalidation area, then bulls would be dead. Trade well! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
BITSTAMP:BTCUSD
by ew-forecast
4
ETHUSD Intra-day Update - Elliott wave AnalysisHello traders! We think that the Crypto market didn't find the bottom yet. BITSTAMP:ETHUSD Ethereum is bearish just like Bitcoin because we see them in a perfect correlation. As expected, it has perfectly hit our projected resistance area around 120 area for wave 4, from where we may see another decline towards new lows for wave 5. If we are right, then ETH has room for 90-80 area! Only if we are surprised by an impulsive bullish continuation back above 180 region, only then we may consider a bullish reversal! Trade well!
BITSTAMP:ETHUSD
by ew-forecast
2
EW ANALYSIS: EURGBP Can Be Forming A Bullish Triangle PatternHello everyone, EURGBP is trading sideways for the last two years within a very big contracting range. We see that path as a five A-B-C-D-E move where each leg has a characteristic of a correction. It’s a triangle that can be coming to an end of wave B. So, despite very strong leg up in the last few days, this can be still just an early start of a much bigger bullish trend that could lift pair even towards 0.95 area, where we see a nice psychological triangle measurement target. However, what really matters to me at this point is a bounce from the lower trendline support which means that new, at least temporary swing is now underway to the upper side of a range; to 0.9000. So from a trading perspective, despite potentially limited upside there is room for trades on the long side, especially now when we see a completed five-wave rally. So, a three wave A-B-C pullback on hourly chart can be interested for longs. This view remains valid as long as 0.8655 level is not taken out. Trade well!
by ew-forecast
EW ANALYSIS: Long-term And Short-term View On Russian RubleHello traders! Today we will talk about pretty clear Russian Ruble. From a technical perspective, we see very interesting price action and wave structure based on Elliott Wave theory. Let's start with Weekly chart: In EW theory, after every five waves, a three-wave correction follows and as you can see, USDRUB is turning down after five waves up. So, we can expect at least three waves A-B-C of decline where wave C is still missing, which means that strong Russian Ruble can be coming in the next few weeks/months. Daily chart: Looking at the daily chart we can see an impulsive five-wave rally within wave (C) of B, so seems like USDRUB has completed a flat correction and found a resistance at 70.65 level, especially because of a current sharp and impulsive decline into wave A/1 away from highs. So, what we expect now is minimum three waves of decline at least back to 61.61 area, A/1 - B/2 - C/3. Intra-day hourly chart: At the hourly chart, we can see a very nice bounce away from A/1 lows with five waves up and three waves of pullback, which means that wave B/2 can be underway and should be made by three waves a-b-c, where wave c is still missing and can be reached around ideal 61,8% Fibonacci retracement and 68 area. However, we want to say that Russian Ruble can be strong in the upcoming year, so we decided to share our view, just keep in mind that this may become more complex, so as long as it's trading below 70.65 invalidation level, we will remain bearish! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
4
BITCOIN Clearly Suggests More WeaknessHello traders! As you know, we remain bearish on Bitcoin and friends! (Watch Related Ideas) So, in a quick analysis we want to show you some evidences of a bearish continuation! On the 1st picture we can see a falling wedge pattern, which means that BTC can be approaching the end of a correction once it hit new lows and completes the pattern. 2nd picture is showing a bearish triangle pattern , which is also a continuation pattern and points lower into new lows. And, in the 3rd picture we are tracking Bitcoin Volatility Index, where we can clearly see another ending diagonal in progress, so we may see some high volatility , similar as it happened at the beginning of September, so once it hit new lows, be aware of a decline on Bitcoin and friends. Keep in mind that we are at the beginning of October, so is this just another evidence of a decline soon?! Good luck and trade well!
BITSTAMP:BTCUSD
by ew-forecast
5
EW Analysis: GBPJPY and AUDJPY Pointing Lower After A PullbackHello traders. Today we will talk about XXX/JPY crosses, specifically GBPJPY and AUDJPY. We have seen a nice turn down on XXX/JPY crosses, where we can count five waves of decline, so pullback may occur soon, especially if stocks bounce from support areas (S&P500 and DAX), since we know they are correlated. We took a look on AUDJPY, which can be unfolding five waves down towards new lows, but be aware of a temporary correction in wave iv that can find resistance ideally around 38,2% Fibo. retracement and 80.60 area before a continuation lower into new lows for a wave v. As long as it's trading beneath 81 invalidation level, we will remain bearish. GBPJPY as well turned sharply bearish within a five-wave drop, so we assume that five waves up from lows into wave A can be completed and a three-wave pullback can be underway. That said, be aware of a deeper three-wave a-b-c correction that can find support around ideal 50%-61,8% Fibo. retracement and 142.80 – 142.00 area, from where a new bullish cycle back to 145.70 highs may occur, while it's trading above 139.90 invalidation level.
by ew-forecast
3
Elliott Wave Analysis: BITCOIN Can Be Unfolding Five Waves UpHello Crypto lovers! It's time for update, right? BITFINEX:BTCUSD turned up in an impulsive manner, where it can be unfolding five waves up away from lows, which would confirm a bullish reversal. At the end of June BTC started to rise pretty sharply, so it's an idea that bottom can be place. As you can see on the chart, BTC already broke above trendline, but the most important is 261,8% Fibonacci extension of wave (1), which usually suggest a wave (3) instead of (C), so we asssume that BTC can be currently trading in a temporary correction of wave (4) that can be either a projected flat correction or it will just stay sideways in a triangle correction. In both cases we can expect more upside back above 8500 level. Based on time projection of wave (2) with 8 daily bars, we may consider something similar for wave (4), so sooner or later BTC may find a support. However, according to bearish ALT coins, we think that BTC can see a deeper correction, which may test that red trendline as a support, right around 38,2% Fibonacci retracement of wave (3). One more thing is that wave (4) usually retrace back to a previous wave 4, so if we put together all these evidences, then be prepare for another decline into wave C of (4), where ideal support area would be between 7600-7200 levels. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
BITFINEX:BTCUSD
by ew-forecast
15
Elliott Wave Analysis: NASDAQ May Drop HardHello traders! We want to share with you pretty clear and recognizable pattern on Nasdaq! According to correlations with other stocks, we assume that stocks may face a hard drop. We can clearly count five waves down from 7358 highs, which suggest a bearish reversal, but the most important is that we see only three waves (A)-(B)-(C) of corrective recovery back to ideal resistance at previous wave (4) around 7150 level. In EW theory, impulsive five waves down and corrective three waves up indicate a bearish trend. As you can see, Nasdaq already sharply dropped from 7150 resistance area and currently can be just consolidating before a continuation lower towards new lows, especially if breaks below EW channel support line and 6987 bearish confirmation level, which would confirm our view. Even if turns back above 7150 level, we will still tracking a correction, but just more complex, so we remain bearish as long as it's trading below 7358 invalidation level.
CME_MINI:NQ1!
by ew-forecast
11
Elliott Wave Analysis: Natural Gas Found ResistanceOANDA:NATGASUSD dropped sharply in the beginning of February and then we have seen slow and sideways corrective movement within channel range for the last 5 months, clearly in three waves, which might finally found resistance around 50% Fibonacci retracement just above 3.0 level. Current price action on a smaller time frame looks like it's forming a clear bearish setup, so be aware of more weakness here. Actually, it can be very impulsive and it can be headed back to 2.6 lows or maybe even lower, especially if we get a confirmation, which would be a break below channel support line and 2.81 level. Even if we get something more complex here, we remain bearish as long as it's trading below 3.035 highs, which is our invalidation level. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
OANDA:NATGASUSD
by ew-forecast
3
Elliott Wave Analysis: EURCAD Looking HigherHello traders! We have noticed a recognizable pattern with pretty clear wave structure, which suggest more upside in upcoming days. Looking at daily chart, we can see an impulsive five-wave drop from 1.6155 highs and in EW theory, after every five waves, a three-wave (A)-(B)-(C) correction follows. As you can see, EURCAD also broke a channel resistance line, which was tested as a support and this is just another reason for a bullish setup. Corrections usually retrace back to around 61,8% Fibonacci retracement and a previous wave (4), whre would be ideal resistance level, so we are tracking that third wave (C) up, which has room for 1.5700 level. Looking at 2-hour chart we can clearly count five waves up from 1.4817 lows, which suggest a bullish reversal and the most importantis that we saw only a three-wave A-B-C drop back to ideal previous wave 4 and 1.5120 support level last week, which means that it was only a correction within uptrend. That said, five waves up and three waves down is a perfect bullish setup pattern. Another evidence that EURCAD can be on it's way higher is five blue subwaves up, so sooner or later we can expect higher levels towards 1.5700, but maybe after a small a-b-c correction back to 1.5245 previous wave iv support. Support at 1.5120 should hold, but we remain bullish as long as it's trading above 1.4917 invalidation level. Good luck and trade well!
by ew-forecast
1