Wave analysis and outlook for major currency pairs

Wave analysis is the new trend in technical analysis. Well, it’s not new but the spin off version from the original Elliott wave theory has received much credibility in the recent past. Specially among the Tradingview community. Tradingview might not represent the complete demography of traders. But I believe it does have a large user base of new retail traders. So any effective system, strategy … Read more

EURUSD Weekly outlook and wave analysis 03rd – 07th October 2016

Last week was a great example of why sometimes it’s great idea to stay out of the markets. I was more than happy to watch it from a distance. Simply because I anticipated this dreaded sideways price action to continue. I don’t really know for how long, but watch the market carefully until crucial evidence is there to support … Read more

EURUSD Weekly outlook and wave analysis 26th – 30th September 2016

EURUSD – sideways continues Yes, you guessed it right. EURUSD has gone to extreme sideways-conditions, to an extent that its highly unlikely to return to normal conditions anytime soon. Overall Daily corrective structure is still in a balance between a triangle and a zigzag. Most of all the price has been stalling back and forth in a tight range … Read more

GBPUSD Weekly outlook 19th – 23rd September 2016

Like Euro like Pound. Well, this may not be the case when the US Dollar is in a sideways market and/or the EURGBP is in a trend. Nevertheless, let’a analyse the Cable using the same top-down approach used in the EURUSD weekly outlook analysis. GBPUSD Monthly Grand Supercycle (green) Wave-Y of WXY double-three Supercycle (blue) Wave-C of ABC ZigZag Trend … Read more

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 … Read more

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 … Read more