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NZD USD bulls to return for a while

“There is still some room for NZDUSD to reach 0.8850 – 0.8900, but if this happens, it should not be taken as a bullish signal.” It was June 30th, when we said that in an article, called “NZDUSD approaching a major resistance”. Well, the resistance turned out to be even stronger, since the NZD USD…

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USD CAD rate back to 1.08

If you have been studying the Elliott Wave Principle, you probably know that once you have a complete five-wave sequence, you should expect a correction in the opposite direction. Now let’s see if the 4-hour chart of USD CAD can shows what we are looking for. And the chart depicts a perfect impulsive wave, which…

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USD JPY – stubborn, but still weak

USD JPY has been extending its correction a few times during the last six months. Nevertheless, it was unable to reach 104.95 so far, which means that our long term count is still valid. Having that in mind, let’s see how the chart of the USD JPY exchange rate looks like now. Apparently, the retracement…

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AUD USD, bears are getting stronger

It was 3rd July 2014, when we said that AUDUSD begins a corrective decline. Things have been going according to plan so far, with the AUD USD exchange rate down by more than 250 pips. However, it seems like there is still a lot of weakness ahead. R.N.Elliott described third waves as “wonders to behold”.…

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USD JPY makes it clear around 101

The area around 101.00 proved to be a very strong support level for USD JPY, since the pair jumped up from it three times already. Well, it looks like there is going to be a fourth time. On the daily chart of the USDJPY exchange rate you will see our idea of a triangle in…

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EUR USD may re-visit 1.35

It has been a long way down for EUR USD since the last major top, which occurred near 1.40.  Currently around 1.3350, the time is appropriate for an update of the situation. On the chart below you will see an Elliott Wave labeling of the whole 650-pip decline. As you see, there are two impulsive…

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GBPCHF, should you buy the dip?

GBPCHF has been in a strong uptrend for a long time now, but recently fell down from 1.5430 to 1.5209. Should you buy the dip? The Elliott Wave Principle can provide an answer to this question. On the 4-hour chart of GBPCHF you will see one of the clearest impulses imaginable. As visible, it is a very nice…

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GBP USD, we were waiting for this

On May 17th we published a long-term forecast called “GBPUSD, not as optimistic as it seems“. In that material we assumed that GBPUSD is forming an ending diagonal in wave “c” of Y. Ending diagonals are only an idea, until they are confirmed by a breakout. Having that in mind, let’s see an updated daily…

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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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