marcyacoub

marcyacoub

If you look at the daily chart, you can see that GBP/AUD broke the rising wedge and retested 2 times creating a very strong resistance area around 1.8061. Looking at the 2H chart, GBP/AUD reached the 1.8061 area and rejected it with an ascending formation. Hence, breaking this ascending channel will push GBP/AUD towards the 61.8% Fibonacci Retracement level...

marcyacoub

As you can see, EUR/USD finished 5 waves up with a correction retesting the previous wave 4, and you know by now that retesting the previous wave 4 and not breaking it could be an amazing buy opportunity for a new impulsive wave to the upside. Also, since the DXY isn't able to break the previous wave 4 to the upside, I think we could see the Dollar going down...

marcyacoub

If you look at the DXY chart, you can see that the DXY is still retesting the previous wave 4; however, unable to break it. Not breaking the previous wave 4 on DXY may give us a great opportunity to sell USD pairs such as USD/CHF and USD/JPY. Now looking at this chart, we can see USD/CHF touching the resistance line and I expect this zone to be a great sell zone...

marcyacoub

As you can see, AUD/USD finished 5 waves up although wave 5 was lagging and couldn't break wave 3. But what's interesting is that the ABC correction retested the previous wave 4 and couldn't break it. We know by now that not breaking the previous wave 4, which is a very critical support level, will push AUD/USD for a new impulsive wave to the upside. Also if you...

marcyacoub

If you have been following my analysis on DXY, you know that I predicted the end of DXY's corrective cycle on the daily chart (Wave 4) at 92.50, and now we are in big wave 5 if we want to look at the bigger picture. Now looking at the 4H chart, you can see that DXY finished 3 waves down and retested the previous wave IV with wave 4, thus I expect DXY to continue...

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marcyacoub

Starting off with the Weekly timeframe, you can see that NZD/JPY broke the descending channel, and we know that when we see a break of a descending channel, we expect the price to reach the beginning of the channel; however, using our Fibonacci Retracement, we can see that NZD/JPY rejected the 78.6% Fibonacci level 3 times and couldn't break it. Going down on...

marcyacoub

AUD/NZD reached a very high key area (weekly chart) after finishing 5 waves down with a beautiful double top formation inside a falling wedge. We are waiting for the break of this amazing descending formation to capitalize with a long-term buy position. Also, since AUD and Gold are positively correlated, any impulsive wave on Gold to the upside might push all AUD...

marcyacoub

Keeping it very simple this time. As you can see, AUD/NZD is trading inside a beautiful descending formation and I expect to see a breakout for an amazing move to the upside. Our first target will be the 61.8% Fibonacci Retracement level at (1.08708). Breaking this level will push AUD/NZD towards the beginning of the falling wedge around the 1.0927 area. Keep in...

marcyacoub

Looking at the bigger picture, Gold looks like it found strong support at $1,680 after forming a double bottom formation, and not breaking the $1,680 level gave us a bullish signal towards new highs for this year. For now, XAU/USD finished wave iii of 3 and I expect to see a small retracement for wave iv of 3 before continuing its way up for wave v to complete...

marcyacoub

Let's make this one educational for everyone to benefit from. As you can see, EUR/USD finished 5 waves up, and according to the Elliott Wave Principle, wave 3 and wave 5 are always impulsive waves that contain 5 waves inside them (i, ii, iii, iv, and v). Wave 4 and Wave iv (inside wave 3) are always in the form of a horizontal stage (a continuation pattern): Wave...

marcyacoub

Looking at the 1H chart, GBP/USD rallied from 1.3717 to 1.4000 in an impulsive manner but couldn't break the 1.4000 psychological level. Since the move towards 1.4000 was very impulsive, we can consider it as wave 3. GBP/USD rejected the 1.4000 and went back down with a small ABC correction inside a descending formation towards the 38.2% Fibonacci Retracement...

marcyacoub

Looking at the 4H chart, USD/JPY finished 5 waves up; however, it broke the previous wave 4, and we know that according to the Elliott Waves Principle, breaking the previous wave 4 and retesting it signals more downside movement. Also, looking at the Daily timeframe, we can see a daily candle that closed below the previous wave 4 level which confirms more our...

marcyacoub

Looking at the Monthly timeframe, we can see that the S&P 500 has been respecting this ascending channel for over a century, and each time it reached one of these two trendlines a strong correction occurred. Also, after finishing 5 waves up, we definitely expect a correction, and with everything that is happening in the world right now, I think that we may...

marcyacoub

The Dogecoin cryptocurrency surged to an all-time on Friday morning – almost tripling its value in just 24 hours – and is now the seventh-largest cryptocurrency in terms of market value. However, some investors have expressed fears that Dogecoin’s rise would lead to a bubble, given that buyers do not see any meaningful value in the digital token, and are only...

marcyacoub

As you can see, USD/CHF finished 5 waves up but broke the previous wave 4, and you know that according to the Elliott Principle, the previous wave 4 is a very strong and critical support level, thus breaking it will push USD/CHF for more downside. Our first target will be the 61.8% Fibonacci Retracement level (0.90997). Breaking the 61.8% level will push USD/CHF...

marcyacoub

The DXY seems to have ended its correction with its 4th wave up (check my previous analysis on DXY) and now is heading towards its 5th wave to record new lows for 2021. Looking at the 2H chart on EUR/USD, we can see that it reached today the previous top (1.19896) with 5 waves up which will be considered as wave (1) for the Intermediate Cycle, and now we are...

marcyacoub

If you look at my previous post on AUD/USD, you can clearly see that AUD/USD reached the previous wave 4 on the daily chart and couldn't break it and you know that according to the Elliott Waves Principle, not breaking the previous wave 4 is a positive sign for an upside impulse to come. Looking at the 2H chart, we can see that AUD/USD is currently trading in a...

marcyacoub

We have seen new highs for Gold and Bitcoin which are considered as safe havens to hedge against inflation, but silver still did not show us new levels. Looking at the Daily Chart, we can see a falling wedge that was broken with a daily candle, and I expect for now to see a retest to the strong support area in yellow before continuing its way up. Our first...