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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EURUSD may fall even sooner

On March 30th we showed you our big picture outlook on EURUSD, in which we stated that the European currency may be near a major top, after which we should expect a reversal. Now, what we are going to do here is to show you a different, although again bearish scenario, according to which the rally…

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USDCAD. What happened?

In our previous analysis on USDCAD we were expecting wave 5 to develop, once wave 4 is complete, probably in the form of a triangle. On the chart below you can see that the situation developed just as expected, with wave 5 reaching to a new top at 1.1276. But what happened next? A fast and…

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AUDUSD big picture

AUDUSD made its last top at 1.1080 in the end of July 2011 and declined by more than 24 cents to 0.8650 in just 3 years. A loss of value, that is quite impressive. But no trend lasts forever, so we might want to examine the wave structure of AUDUSD, in order to see whether…

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GBPUSD, five moves predicted

On March 11th we showed you our analysis on GBPUSD. We were then considering a double zig-zag correction under construction, with waves “b” and “c” of Y left, after which the uptrend was expected to resume. On the chart below you can see how the situation developed. So, the market has been going according to our forecast…

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