WHILE AUD BOUNCE NICELY OFF THE SUPPORT WE MIGHT NOW TARGET TO HIT THE LONG TERM DOWNTREND TRENDLINE OR EVEN CHANGE THE LONG TERM DIRECTION
BASED ON OUR PREVIOUS FORECAST WE WERE EXPECTING MORE EXTENDED CORRECTIVE WAVE DOWN FROM THE AUDCAD. HOWEVER, AS THE PRICE BROKE ABOVE OUR KEY RESISTANCE AT 0.9810, IT POTENTIALLY CONFIRMED AN UPTREND CONTINUATION. AT THE SAME TIME IF THE THERE WILL BE CLEAR BREAK OF THE 0.9776 SUPPORT, IT COULD BE A CHANGE IN THE DIRECTION FOR THE LONG TERM. UNLESS THAT HAPPENS...
Clean bounce of our fib resistance confirms bearish bias for short term
While there was no clean bounce of our fib resistance, it looks like we are in the correction phase that could bring AUDCAD down to 0.9760 or 0.9710 price targets before and if uptrend resumes.
OUR LONG TERM DOWNTREND TRENDLINE STILL CONFIRMING THE VALIDITY OF THE DOWNTREND, DOUBLE TOP, CHANNEL BREAKOUT AND UPTREND TRENDLINE BREAKOUT... ALL INDICATE ON THE POTENTIAL RALLY DOWN TOWARD 91.40 TARGET AREA
Having completed the corrective wave, NZDUSD now could be on its way down to resume the major downtrend. Added text: It appears that Kiwi still is in a major downtrend that is supported by the Elliot Wave analysis. Following 5 waves down, NZDUSD potentially completed corrective wave C as can be seen on the chart. For the last four days it has been consolidating...
EURJPY might correct down to 134 or 133 levels
Gold has been steadily losing value since the end of January 2015. Following several days correction to an upside, today the precious metal has fallen sharply against the Dollar. Obviously, there is not much interest for the safe haven asset at the moment and it is too early to talk about growth in demand. On the technical front, Looking at the 4H chart, a...
I'd say we are looking at least for a corrective wave if not a medium term reversal here
WHILE GBPCHF IS AROUND ITS VERY STRONG RESISTANCE, WE BELIVE THAT IT WILL BE PENETRATED AND GIVE THE WAY FOR THE FURTHER RISE OF THIS PAIR. STRONG RALLY UP CAN BE EXPECTED
EURCAD DID BREAK AN UPTREND TRENDLINE CONFIRMING POTENTIAL CORRECTION TOWARDS 1.3950 AREA
I see a nice and clean bounce of the downtrend trendline on EURAUD thus confirming the validity of the downtrend. The first target is around previous low, while I don't see this as a bottom unless market will resist a lot at that level.
IT LOOKS LIKE WE ARE HOLDING AN UPTREND TREDNLINE SUGGESTING A CONTINUATION OF THE MOVE UP
GBPCAD LOOKING TO MAKE A NICE SWING UP
GBPCHF STILL HOLDING THE DOWNTREND TRENDLINE, VERY GOOD RISK/REWARD TRADE