GBP JPY bottomed as planned

On July 23rd we showed you a forecast of GBP JPY, saying that there should be one more wave left to the south before the pair makes a reversal to the north. Our expectations were based on the following chart. Triangles precede the final movement of the larger sequence. In this case there was a…

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AUD USD with the desired behaviour

On July 24th, we showed you a forecast of the AUD USD currency pair, saying that “we expect another sell-off in AUD USD soon. The minimum targets are below the bottom of 0.9326, while the count would be invalidated, if prices go above 0.9504”. This statement was based on the chart below. According to The…

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GBPUSD, the beginning of the end?

On July 14th we published an intraday analysis of GBPUSD, titled “GBPUSD with one last move to the north”. In that piece of material we were expecting a thrust in wave C to the upside from a presumed wave B triangle. “Once the triangle is finished, we will be expecting GBPUSD to reach 1.7200 in…

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USDJPY, stage is set for another decline

What every Elliott Wave analyst wants to see is a five-wave sequence, followed by a three-wave decline. In other words, the common 5-3 Elliott Wave cycle, after which the trend is expected to resume in the direction of the impulsive five. This is exactly what we have on the hourly chart of USDJPY, shown below. Recommended…

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AUDUSD to regain negative bias

On the hourly chart of AUDUSD we can see the typical 5-3 Elliott Wave cycle. The interesting thing is in the shape of wave C of (2)/B – it is an expanding ending diagonal. All of its characteristics are the same as in the regular ending diagonal except of its shape. Instead of contracting, the…

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GBPJPY expect a reversal soon

On the 1-hour chart of GBPJPY we can see a very clear double zig-zag pattern labeled W-X-Y, with its wave Y still unfolding. It looks like wave B of Y is taking the shape of a triangle. Triangles form only in a position prior to the final wave of the larger sequence. This is the…

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A big move ahead for AUDJPY

Every Elliottician is more than happy, when he spots five waves in one direction, followed by three waves in the opposite. Especially if it is on a big enough time-frame chart.The one given below fits perfectly into this description. It shows the above-mentioned 5-3 Elliott Wave cycle on the daily chart of AUDJPY. AUDJPY declined in…

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EURUSD, expect both scenarios

“If this is the correct count, target around 1.3520 should not be a problem. The invalidation of this intraday scenario is at 1.3650.” This is an excerpt from our previous forecast of EURUSD, made on July 11th. The next chart shows how this pair looked like, when the above-mentioned article was published. Recommended reading: EURUSD…

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USDJPY just went out of that triangle

In our last article about USDJPY we were expecting a significant decline from the highs of 103. If you have been following this pair, you should have noticed, that the pair dropped by some 150 pips and closed at 101.32 on Friday, July 11th 2014. Our bearish expectation have been fulfilled so far. However, we…

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EURUSD right on track, now what?

A week ago we published an article in our intraday section called “EURUSD confirms bearish reversal”. With a completed five-wave impulse down, we were expecting a three-wave retracement, saying that “prices could return to the zone around 1.3640 before the downtrend in EURUSD resumes.” Here is how the chart of this pair looked like back then.…

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GBPJPY developed nicely

Two days ago, on July 8th, we published an article called “GBPJPY intraday signs of weakness”. Having a clear five-wave impulse to the south, we stated that it was time for a small three-wave rally, after which the decline was expected to resume. Our opinion was based on the following chart. On the next one you…

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AUDUSD begins a corrective decline

On the 4-hour chart of AUDUSD there is a clear five-wave impulse to the upside. Starting from the 0.8650s, it seems that the rally is temporary limited to 0.9504, where the ending diagonal in the position of wave 5 seems to have ended. According to the Elliott Wave Principle, after every five waves, a three-wave correction should be…

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USDRUB ready to resume the uptrend

In the middle of March 2014 USDRUB reached 36.716, but has been declining ever since, falling to as low as 33.540. We will use the 4-hour chart to determine if we should expect more weakness. And the chart shows an impulsive rally, followed by a corrective channel, in which that 3-figure decline has been developing. Pay attention…

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EURUSD ready to make a move

On June 5th we showed you an analysis of EURUSD suggesting that we have a complete impulse to the south and therefore we should prepare for a three-wave correction in the upward direction. On the chart below you can see how EURUSD looked like when that forecast was made. The previous analysis was published right after…

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NZDUSD approaching a major resistance

NZDUSD is getting closer to 0.8800, which may boost the bulls’ confidence, but an Elliott Wave analyst never relies only on rising prices. The weekly chart shows why. As you can see the whole price action since March 2009 looks corrective – like a double zig-zag, labeled (W)-(X)-(Y). The minimum requirement for wave (Y) is…

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