AUDUSD Turn is Imminent

AUDUSD Turn Imminent

AUDUSD rally from 12/23/2016 low is unfolding in 5 waves and the cycle from Dec 23 low is expected to complete soon and a 3 waves pullback at minimum can be seen. Watch the video, chart and commentary below: AUDUSD Video   AUDUSD Chart and Commentary AUDUSD rally from 12/23/2016 low (0.716) is unfolding in what looks like an impulse. An impulse is a 5 waves move where wave 1, 3 and 5 is subdivided into 5 waves. There is also a momentum divergence in wave ((v)) of 3, as well … [Read more...]

EURAUD: More downside after a bounce

EURAUD Elliott Wave Analysis 1.23.2017

EURAUD has been in a steady downtrend since forming a peak on 8/24/2015 (1.6585). Although, pair is very close to 100% Fibonacci extension down from 8/24/2015 peak, Elliott wave sequence to the downside is incomplete and is calling for rallies to prove corrective and result in more downside in the pair. Last week, pair broke below 11/10/2016 low and dropped to the lowest level since May 2015 before it started bouncing. With the break of 11/10/2016 (1.4070) low, pair is showing 5 swings down from … [Read more...]

AUDUSD Elliott Wave Analysis 1.20.2017

11AUDUSD 6020170119213147

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 and although the cycle is mature, more upside within wave 5 is expected before pair ends the cycle from 12/23 low. Rally to 0.735 is labelled as wave 1 and dip to 0.7283 is labelled as wave 2. Up from there wave 3 ended at 0.7568 and wave 4 pullback is proposed complete at 0.748. While pullbacks stay above … [Read more...]

GBPJPY shows 5 waves off the low

1GBPJPY-6020170118214038

GBPJPY rally from 1/16 low (136.42) is unfolding as a 5 waves impulse which is expected to complete wave ((i)) of a Minute degree, as shown below in the 1 hour Asia chart from 1/19/2017. As far as momentum divergence is intact between wave (iii) and wave (v) of Minuette degree, the impulse structure remains valid. If RSI divergence is erased, then the structure would become a double three i.e. ((w))-((x))-((y)) and rally can extend to 142.85 - 143.73 area before cycle from 136.42 low ends and we … [Read more...]

AUDUSD Elliott Wave Analysis 1.19.2017

11AUDUSD 6020170118213814

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 and although the cycle is mature, another leg higher in wave 5 still can't be rule out before pair ends the cycle from 12/23 low. Rally to 0.735 is labelled as wave 1 and dip to 0.7283 is labelled as wave 2. Up from there wave 3 ended at 0.7568 and wave 4 pullback is proposed complete at 0.7489. While pullbacks … [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...]