EURCAD Elliott Wave Plus Bearish Patterns

EURCAD, bearish, Elliott Wave, elliottwave, patterns

EURCAD Technical Analysis January 12/2017 EURCAD 1 hour Elliott Wave count can be calling for more downside and also there are two possible bearish patterns to match the bearish Elliott Wave count. As long as the pair stays below 1.4055 we can expect the pair to continue lower. Both the Elliott Wave and bearish patterns invalidate at 1.4055 and if the pair breaks above this invalidation level we can expect the pair to correct higher. As for now we remain bearish as long as the invalidation … [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...]

Forecasting US Dollar through EURAUD into FOMC

FOMC Rate Decision

FOMC (Federal Open Market Committee) will declare outcome of this month's meeting on Wednesday and the market is expecting a rate hike by the FED and consequently, dollar would be expected to get strong. We, at, we base our trades on the technicals and not on the fundamentals or FOMC. The market itself, like everything in nature has a natural way to move in which the market will either follow a corrective or an impulsive sequence. The Elliott Wave is the only technique … [Read more...]

$EURAUD forecasting the path & selling the rallies

EA 1

On August 10th $EURAUD broke the previous low from April 21st @1.4425 , making the bearish cycle from the Febrtary peak still alive. Our Elliott Wave analysis suggested for at least another big swing lower below 1.44037 low, so we recommend our members to avoid buying the pair and keep selling the rallies against the 1.56456 peak. In this technical blog we're going to take a quick look at past Medium-term EURAUD charts presented to clients of to see how we guided our … [Read more...]