EURGBP should tumble, but not yet…

EURGBP daily chart

As they say, a picture is worth a thousand words. Perhaps a picture is worth thousands of dollars too, if you know what I mean. Although there are several ways you can label this EURGBP weekly chart, the most viable (I presume) interpretation is given in the above image. I have to say, this is … Read more

AUDUSD is in the C wave of ABC weekly correction

AUDUSD Weekly analysis AUDUSD has ccompleted a very pretty A and a B wave, and the C wave is currently in progress. What’s more interesting is that all this is happening in the weekly chart. Which means we will be in the bull market for the foreseeable future. Having said that, this is actually the … Read more

EUR crosses – wave analysis and long term view

Why follow Euro pairs closely? Being one of the biggest economies in the world, Euro has a significant impact on other currencies. When forex markets are in highly volatile conditions, many a times the dominant factor is one of the following 4 currencies – US dollar, Euro, British pound or Japanese yen. These currencies have an … Read more

USDCAD double-three correction almost complete

The ongoing USDCAD corrective structure warrants some attention, as it may be reaching the end of it’s course. Although the Cycle degree could extend for another phase making it a triple-three, it seems highly unlikely, considering the elapsed time of the correction so far. However, there may be another final component in the making in order to complete … Read more

NZDUSD – Possible bullish Cypher in the making

NZDUSD has an interesting forecast with a possible bullish Cypher pattern in development. The current price level is also at the 50% retracement of the previous bullish impulse. Although the current expectation is for the next bullish impulse, the continuation of the current bear wave is also a possibility. Possible bullish Cypher Why should anyone expect … Read more

Forget about safe haven, JPY is all set to go down

Yen weakness contrary to expert opinion? Safe haven has been the buzz word among traders, specially after the Brexit polls. Gold, silver, other precious and non-precious metals, commodities and the Japanese yen were supposed to be ‘safe haven’ instruments. Just one month after the Brexit polls, JPY is looking extremely bearish. May be the “people” were referring … Read more

USDCAD Elliott wave analysis – 29-06-2016

usdcad-m-29-6-16-ew-forecast

USDCAD after a steep bullish motive wave that ended right at the beginning of this year is actually the C wave of Grand supercycle degree. The reason is a very clear 3 wave structure. Although beyond the scope of trading, B wave of an even higher degree (Sub millennium degree) ended at the same price point as well. … Read more

AUDUSD Structure breakout short trade – 08th Feb 2016

audusd structure breakout

AUDUSD structure breakout trade setup was spotted on H4 time frame. Given the market volatility today, especially with the USD tanking so much, this might come to you as a surprise. But the thing with structures and breakouts is that you don’t want to miss when opportunities present itself. One of my strategies in relation … Read more

NZDUSD Short trade setup, get ready to trade the 5th wave

nzdusd short trade set up

NZDUSD short trade set up – we have been waiting for this trade for some time now. If you did not read the earlier post about the wave count and expectation of a NZDUSD short trade, you might want to read – How to trade using Elliott Waves. The correction did not end last week. So we … Read more

Bearish Dragon – Has the USDCAD topped?

Bearish Dragon pattern can pick reversals and trendline breakouts effectively The bearish dragon that we have been waiting for so long, may have arrived at a fundamentally conflicting situation.   With the USD interest rate increment announced only few trading days ago, in a fundamental point of view, there is more upside to the USDCAD. … Read more