EURUSD bear-trap after ECB

People see EURUSD‘s recent plunge as a result of ECB’s decision about interest rates. We at EWM see it as a natural post-triangle thrust in wave 5 down. Many experienced traders have the following motto: “trade against the news”. Well, the news is highly bearish for EURUSD, even in the long term. However, in or…

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USDCAD, pull-back expected

“Do not be surprised, if the next move USDCAD makes is to the south.” This is an excerpt from our previous article about USDCAD, which we published on May 21st. The pair was trading around 1.0940. As shown on the chart below, prices fell by 120 pips, finding bottom at 1.0820 and reversing from there. Currently at…

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NZDUSD, bears in the driving seat

NZDUSD reached 0.8777 in the beginning of the month, but was unable to hold the bullish momentum, reversing to the downside towards 0.8470, where the pair is currently trading. What we are interested in is the wave structure of this 300-pip move. Three waves would mean that the larger trend is still up, while an…

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Is Putin set to fail with the gold ruble?

People say that politics is complicated! Well, it is, but not so much, if you understand market behavior. It has been some time since the President of Russia Vladimir Putin has declared war on the US dollar, preparing to introduce the gold standard again. Russia is the world’s largest oil producer and lately a big…

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USDCAD went well. What next?

“We expect USDCAD to start rising from current levels. This count would be invalidated, if price falls below the start of the impulsive rally at 1.0811.” This in an excerpt from an article, which we published in our intraday section on May 16th. The chart below shows you how the pair looked like, when we…

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GBPUSD, not as optimistic as it seems

GBPUSD has been in a strong uptrend for quite a long time. The pair managed to climb up from 1.4812 to nearly 1.70 without making a major correction. Some people even say the strength of the Great Britain Pound may soon start hurting Britain’s economy, since it makes British goods and services relatively expensive. But…

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EURUSD, it is time.

In this analysis of EURUSD we will look at the price action from two angles – conventional technical analysis and then the Elliott Wave Principle. As you will see, the two methods confirm each other, giving us a one-sided view for the Euro versus the US dollar. First we will examine the conventional point of…

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EURUSD reached target. Now what?

“Considering the bigger picture, 1.40 seems to be a reasonable target for wave C up, but once it is reached, we have to be careful, because it might be the final top for EURUSD.” This is an excerpt from an article about EURUSD, which we published on April 22nd, when the pair was trading around 1.3800.…

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USDJPY. Calm before the storm

USDJPY has been moving sideways between 101 and 104 for over 3 months now. In our opinion, the moment of breakaway is just around the corner. The direction of this breakaway should be to the south. In order to support this statement we will show you two charts – 4-hour and 1-hour time-frames. Let’s start…

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Elliott works, even on a 5-min chart

Yesterday in our intraday section we showed you a forecast of GBPUSD on a 5-minute chart. All we needed was a five-wave structure, which we had, so we were expecting more strength from this pair. Below you can see how the chart looked like back then. On the next chart you will see how GBPUSD developed…

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EURCAD with some downside potential

The EURCAD pair finished its ending diagonal at a price of 1.5582 and then declined to 1.5000 in impulsive fashion. Normally, a correction to the upside started soon after and is currently in progress. As you can see on the chart below, we have an almost finished zig-zag a-b-c retracement in wave 2/B. Once it is completed,…

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EURUSD on its way to 1.40

EURUSD seems to have finished its three-wave A-B-C zig-zag decline. Pay attention to the fact that the 61.8% Fibonacci level reacted as a support once again. In our previous analysis we stated that EURUSD needs one more pull-back lower to the 1.3760 area, before the resumption of the uptrend. As you can see on the chart…

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EURUSD down before up?

In our last analysis we were expecting an upside move in EURUSD and the pair really did rise, but the rally was limited to only three waves, suggesting that we are still in some kind of a corrective pattern. Below you can see an updated chart with a little relabeling. The corrective pattern, that started from…

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EURUSD. Next stop – 1.40

On April 13th EURUSD was at 1.3885 and the majority of traders was still looking for higher levels. We, on the other side, were expecting a pull-back. As you can see on the chart below EURUSD dropped by 100 pips to 1.3785. What the chart shows is the common 5-3 Elliott Wave cycle, telling us that…

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USDJPY on its way down

In our previous forecast on USDJPY we suggested that the rally to 104.11, despite being quite strong, should be only a correction of the larger downtrend. In our intraday section we even gave you an exact entry point for the trade, which went according to plan with USDJPY falling by 280 pips to 101.31. Currently in the…

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