GBPUSD Elliott wave analysis and weekly outlook – 12th – 16th September 2016

Correction of the Cable continues Like Euro like Pound. I don’t usually comment on correlation of instruments. Because correlation is subjective and hindsight. Though in this case a different type of correlation has emerged between EURUSD and GBPUSD. That is because Euro and the Cable are both dancing on the fence between a triangle and a ZigZag as the …

EURUSD Elliott wave analysis and weekly outlook – 12th – 16th September 2016

Undecisive wave structure Yes, I had to eat the humble pie on EURUSD last week. Fortunately, there was no set up to go short as the hourly structure was never violated to the downside. On the other hand, even if it did, the entry would have been conservative given the possibility of the overall ABC …

GBPUSD Elliott wave analysis and weekly outlook – 5th – 9th September 2016

Correction continues GBPUSD continued to be bullish during last week with a net of approx. 180 pips. But this does not yet invalidate the triangle structure. However, the more momentum price gets to the up side, more likely the corrective structure will be a ZigZag. One hour chart The ongoing correction has a long way …

EURUSD Elliott wave analysis and weekly outlook – 5th – 9th September 2016

A volatile week for EUR/USD EUR/USD managed to produce a measly net move of 24 pips for the whole of last week. Clearly the market failed to show a directional bias. But the volatility was off the hooks, mostly towards the end of the week. So there were sharp intraday movements to both sides. With NFP on Friday, we saw …

EURUSD Elliott wave analysis and weekly outlook – 29th August – 2nd September 2016

Bears are awake EURUSD started to decline quite sharply, as expected in last weeks analysis – EURUSD weekly outlook – 22nd – 26th August 2016. However it is too early to conclude that price will reach the bottom structure levels with a single impulsive wave. At best the wave will be less choppy without anymore deeper corrections. But before all …

GBPUSD Elliott wave analysis and weekly outlook – 29th August – 2nd September 2016

GBPUSD is at the verge of a very lucrative trading opportunity. If you remember, las week I posted about the possible bull market continuation. If you missed it, here it is: GBPUSD Elliott wave analysis and weekly outlook – 22nd – 26th August 2016. Although we got the bull market, we did not get the expected deep pullback. On the other …

GBPUSD Elliott wave analysis and weekly outlook – 22nd – 26th August 2016

Correction in Cable continues GBPUSD has shown signs of a final C wave in progress, to complete an ABC correction in the Intermediate degree. The issue with US Dollar pairs is that most of them are within large corrective structures; mainly because the Dollar index is in a large corrective structure as well. Fortunately we have the Elliott …

EURUSD Elliott wave analysis and weekly outlook – 22nd – 26th August 2016

Elliott wave analysis of the weekly correction Contrary to previous weeks forecasts, Euro-dollar price has closed well above the bearish channel.  Now, this weekly close warrants a re-evaluation of the long term forecast. However, a single candle close (regardless of the timeframe) does not pose a significant impact in terms of the overall direction of the market. But …