NZDUSD – Possible diagonal move in making

11NZDUSD 6020170117212542

NZDUSD move up from 12/23 low is extending and it looks like the move up from 12/23 low is unfolding as an Elliott wave diagonal when pair is still in wave 3. Rally to 0.7028 is labelled as wave 1 and dip to 0.6945 is labelled as a FLAT wave 2. Up from there wave 3 remains in progress towards 0.7266 - 1.7315. Once wave 3 is complete, expect the pair to pull back in wave 4 to correct the cycle from red 2 low and turn higher in wave 5 to complete a diagonal move up from 12/23 (0.6857) low. … [Read more...]

GBPUSD: Elliott Wave Analysis calling for new lows

GBPUSD Video thumb

GBPUSD preferred Elliott wave structure suggests pair is in an Ending Diagonal structure where wave ((4)) completed on 12/6 at 1.2775. Each sub-wave of a diagonal pattern sub-divides in 3, 7 or 11 swings. As the chart below shows, wave (W) of ((5)) completed at 1.2198 followed by a 3 wave bounce to 1.2432 which completed wave (X). This bounce failed in 100 - 123.6% extension area of W-X (1.2390 - 1.2435) and offered a selling opportunity there. Pair has since broken below 1.2198 low and is now … [Read more...]

EURJPY Elliott Wave (4) nearing completion

EURJPY 10 January 8 Hour Elliott Wave Analysis

EURJPY has been in a sideways consolidation for the last few weeks and today it broke lower from the consolidation. Many might view it as start of a sustained decline but looking at the choppy nature of the decline from blue (3) peak, we are viewing it as a wave (4) blue pull back of an incomplete 5 wave Elliott wave cycle up from 6/24/2016 low. Wave (4) could unfold as a simple 3 wave pull back, double three, triple three, zig-zag, FLAT or a triangle. In this wave count, wave (4) has taken the … [Read more...]

XAG Elliott Wave Forecast 12.23.2016

XAG Elliott Wave Analysis 12.22.2016

XAG (Silver) is showing an incomplete Elliott Wave sequence from 11.9.2016 peak. There are 5 swings down from 11.9.2016 peak which makes short-term sequence bearish against 12.7.2016 (17.25) peak. Decline from 18.99 – 16.14 was a 3 wave move labelled wave W followed by a 3 wave bounce to 17.25 that completed wave X. Cycle from 17.25 is proposed to be over at 15.60 and structure of this decline was a leading diagonal wave ((a)). XAG has already done 3 swings up from 15.60 low which meets minimum … [Read more...]

Silver Elliott Wave Forecast 12.21.2016

Silver Elliott Wave Forecast 12.22.2016

Silver metal is showing an incomplete Elliott Wave sequence from 11.9.2016 peak. There are 5 swings down from 11.9.2016 peak which makes short-term sequence bearish against 12.7.2016 (17.25) peak. Decline from 18.99 – 16.14 was a 3 wave move labelled wave W followed by a 3 wave bounce to 17.25 that completed wave X. Cycle from 17.25 is proposed to be over at 15.60 and structure of this decline was a leading diagonal wave ((a)). A bounce in wave ((b)) is now expected in Silver Metal to correct … [Read more...]

Silver Metal Elliott Wave Forecast 12.20.2016

Silver Metal Elliott Wave Forecast 12.20.2016

Silver metal is showing an incomplete Elliott Wave sequence from 11.9.2016 peak. There are 5 swings down from 11.9.2016 peak which makes short-term sequence bearish against 12.7.2016 (17.25) peak. Decline from 18.99 – 16.14 was a 3 wave move labelled wave W followed by a 3 wave bounce to 17.25 that completed wave X. Cycle from 17.25 is proposed to be over at 15.60 and structure of this decline was a leading diagonal wave ((a)). A bounce in wave ((b)) is now expected in Silver Metal to correct … [Read more...]