Elliott Wave Forecast!

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GBPUSD Could Hit 1.5350-1.5400 While 1.5000 Is In Place

 

GBPUSD found a support yesterday 30 pips above 1.5000 psychological level from where intra-day bulls lift the pair in impulsive manner back above 1.5200 level.

http://www.ew-forecast.com/content/fck/3159gbpusd741_4.gif

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Cable Is Breaking Higher, Now Targeting 50% Retracement Level From January Highs

 

GBPUSD closed strongly higher last week after recently broken trend-line connected from above 1.6300 which suggests that recovery from 1.4830 could be deeper than firstly thought.

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USDCHF corrective retracement

 

Observing new and much more complex wave structure on USDCHF

http://charts.stocktwits.net/production/original_12933445.gif

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OIL May Have Found A Temporary Top Around $96.60

 

Oil fell sharply lower last week, clearly in five waves from 97.60 which means that the trend has now turned bearish

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EURUSD Could Make Reversal Down to 1.2900/50 From 1.3100 Resistance

 

EURUSD extended another 200 pips higher since Friday, so now we are even more confident that low on EURUSD is in place which was expected because of ending diagonal, reversal pattern placed in wave 5).

http://charts.stocktwits.net/production/original_12976696.gif

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Crude Oil: Correction Appears Complete; Weakness Could Extend To 90$ Per Barrel

 

Oil recovered nicely in the last few days from 91.80 back to 94.75 which was expected after a completed five waves down in wave 1.

http://charts.stocktwits.net/production/original_13001343.gif

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EURUSD Eyeing 1.2950 before Going Higher Again

 

EURUSD could make a deeper corrective pull-back in the very near-term within wave B) towards 1.2900/1.2950 support zone before pair turns higher once again for wave C).

http://charts.stocktwits.net/production/original_13028493.gif

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AUDUSD Turns Bearish After A Daily Close Beneath March Trend-line

 

AUDUSD turned sharply lower and made a daily close beneath rising trend-line connected from March lows.

http://charts.stocktwits.net/production/original_13048146.gif

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EURUSD Breaks Out Of the Range, Now Headed to 1.3250/1.3300

 

EURUSD finally broke out of a sideways price action into wave C); earlier than we thought but still in our primary direction

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Eurusd

 

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EURUSD Could Extend To 1.2900/1.2950 After Broken Support Line From 1.2745

 

EURUSD reversed sharply lower yesterday from 1.3200, clearly in impulsive fashion beneath rising trend-line from 1.2745 and as well as wave B) swing low.

http://charts.stocktwits.net/production/original_13093619.gif

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GOLD Could Make A New Bearish Reversal After Recent Pull-back To 1420

 

GOLD rallied nicely in the last few sessions which was expected as we needed a three wave rally in wave 4. For now, the bounce is unfolding very nicely, but we need to see 38.2% hold to turn straight down again.

http://charts.stocktwits.net/production/original_13117782.gif

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GBPUSD Could Turn Bearish This Week

 

GBPUSD has extended higher in the last two weeks after broken trend-line connected from above 1.6300.

http://charts.stocktwits.net/production/original_13143147.gif

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S&P 500 Is Showing a Top Formation At 1597 Based on Elliott Wave And H&S Patterns

 

Recent pull-back represents a wave 2/B as we labeled a decline from 1597 as a leading diagonal in wave 1/A.

http://charts.stocktwits.net/production/original_13161621.gif

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USDCAD is Eyeing More High in Coming Week.

 

Expecting higher on USDCAD in coming week as recent correction is black wave 2.

http://charts.stocktwits.net/production/original_13190803.gif

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Crude Oil Is Looking Impulsive On the Intra-day Basis; Could See $93.00

 

Oil is forming an impulsive price action from 87.87 swing low. The reason is recent strong reaction towards 92.00 figure yesterday which has been very strong and sharp in short-period of time. That’s a personality of a third wave

http://www.ew-forecast.com/content/fck/oil%20757_4(1).gif

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GBPUSD: Corrective Rally From March Low Could Now Extend To 1.5500/1.5600

 

GBPUSD finally broke higher yesterday after recent unsuccessful push through the lower support line connected from early March lows. Notice that pair closed well above 1.5407 trend-line yesterday which sets a stage for a new impulsive rally, now towards 1.5500/1.5600 area.

http://charts.stocktwits.net/production/original_13243393.gif

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CRUDE OIL Turned Bullish Last Week; Could See $95.00

 

OIL has accelerated higher on Thursday, and more importantly it closed well above the upper parallel trend-line of a base channel.

http://charts.stocktwits.net/production/original_13271151.gif

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What Rising Australian Stock Market Could Mean For The AUDUSD!?

 

When Australian stocks are higher the AUDUSD could go even lower if we consider the negative correlation between the markets as shown on the overlay chart below.

 

ASXSP200 Daily

http://charts.stocktwits.net/production/original_13291936.gif

 

Australian stocks vs. AUDUSD

http://charts.stocktwits.net/production/original_13291933.gif

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AUDUSD Elliott Wave Analysis # Targeting 1.0100

 

Expecting AUDUSD More downside towards 1.0100 in next few trading days.

http://www.ew-forecast.com/content/fck/9621audusd764_3.gif

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GBPUSD Trying To Form A Bearish Reversal At 1.5600

 

On GBPUSD hourly chart we can count completed five waves up in wave C that shows signs of a top around 1.5606

http://www.ew-forecast.com/content/fck/gbpusd764_4(1).gif

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GOLD: Recovery Is Incomplete; Could See 1490/1500-Elliott Wave Forecast

 

GOLD made a deeper pull-back in this week and then found a support around 1440, at the parallel trend-line that represents lower side of a corrective channel. Also notice that decline from 1485 has been made in three waves and that 1419 support is still in place. Therefore, we think that pull-back from latest high was corrective wave b) that is part of a complex double zig-zag from mid April low. With that in mind, price could test 1490 or even 1500 level before complex corrective is complete.

http://charts.stocktwits.net/production/original_13367641.gif

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USDCAD Could Look for a Support This Week at Trend-line from 2012 Low

 

USDCAD: An impulsive reversal higher in the next week, back to 1.0200 would suggest another leg higher, this time to 1.0440 trend-line resistance where we would be looking for an end of a corrective wave (E) of X triangle as shown on the weekly chart.

 

Only sharp fall through 0.9930 would require a different outlook (ALT on the chart).

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Stocks Futures! US2000, SP500, NAS100.I, DJI.I, FTSE100.I, DAX.I

 

US and European stocks futures did not move much in the last few sessions so we will continue to look higher. We see room for further gains today as several market are still in fourth waves.

http://www.ew-forecast.com/content/fck/us676_4(1).gif

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USD Index Is Forming A Bullish Reversal Pattern-Elliott Wave Forecast

 

Critical/invalidation level is at 81.32 as wave 2) must never retrace more than 100% of wave 1). So as long that level holds we are looking higher.

http://charts.stocktwits.net/production/original_13440689.gif

 

What is Zig-Zag?

 

A zig-zag (Elliott Wave Pattern) is a 3-wave structure labeled A-B-C, generally moving counter to the larger trend. It is one of the most common corrective Elliott patterns.

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