AUDUSD – Possible 5 waves move in making

11AUDUSD 6020170118093704

AUDUSD move up from 12/23 low is extending and as pair keeps extending higher with shallow pull backs, it looks like the move up from 12/23 low is unfolding as an Elliott wave impulse when pair is still in wave 3. Rally to 0.7356 is labelled as wave 1 and dip to 0.7283 is labelled as wave 2. Up from there wave 3 remains in progress towards 0.7582 - 0.7629 area. 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 … [Read more...]

NZDCAD Elliottwave Analysis 1/17/2017

NZDCAD

For more analysis in other Forex, Indices, and Commodities, take our 14 days FREE trial and get access to Elliottwave charts for 52 instrument in 4 time frames, live sessions, live trading room, 24 hour chat room, and more.   Weekly Chart NZDCAD is showing a bullish sequence in the weekly time frame with the break above the previous peak at 3/17/2014, suggesting that further upside to a new high is favored. Pair still has a scope to extend lower in wave (X) to correct the rally … [Read more...]

GBPUSD Elliott Wave Forecast 1.17.2017

GBPUSD 6020170116212942

GBPUSD is showing a 5 swing bearish sequence from 12/6 peak (1.277) which favors more downside. The decline from 12/6 peak is unfolding as a double three where wave W ended at 1.2198 and wave X ended at 1.2432. Internal of wave (Y) is unfolding as a double three where wave ((w)) ended at 1.2037 and wave ((x)) bounce is proposed complete at 1.2317. The pair has since broken below 1.2317, suggesting that the next leg lower in wave ((y)) of (Y) has already started. Near term, pair is correcting the … [Read more...]

GBPUSD Elliott Wave Forecast 1.13.2017

GBPUSD 6020170112210917

GBPUSD is showing a 5 swing bearish sequence from 12/6 peak (1.277) which favors more downside. The decline from 12/6 peak is unfolding as a double three where wave (W) ended at 1.2198 and wave (X) ended at 1.2432. GBPUSD has since broken below wave (W) at 1.2198 which suggests that the next leg Wave (Y) has already started to the downside. Internal of wave (Y) is unfolding as a double three where wave W ended at 1.2037 and wave X bounce is proposed complete at 1.2317. Near term, while bounces … [Read more...]

GBPUSD Elliott Wave Forecast 1.12.2017

GBPUSD 6020170112093724

GBPUSD is showing a 5 swing bearish sequence from 12/6 peak (1.277) which favors more downside. The decline from 12/6 peak is unfolding as a double three where wave (W) ended at 1.2198 and wave (X) ended at 1.2432. GBPUSD has since broken below wave (W) at 1.2198 which suggests that the next leg Wave (Y) has already started to the downside. Internal of wave (Y) is unfolding as a double three where wave W ended at 1.2037 and wave X bounce is in progress as a double three and can reach as high as … [Read more...]

GBPUSD Elliott Wave Forecast 1.11.2017

GBPUSD 6020170110215656

GBPUSD is showing a 5 swing bearish sequence from 12/6 peak (1.277) which favors more downside. The decline from 12/6 peak is unfolding as a double three where wave (W) ended at 1.2198 and wave (X) ended at 1.2432. GBPUSD has since broken below wave (W) at 1.2198 which suggests that the next leg Wave (Y) has already started to the downside. Internal of wave (Y) is unfolding as a double three where wave W ended at 1.2104 and wave X bounce is in progress to correct cycle from 1/5 high (1.2432) … [Read more...]