AUDUSD to finish an expanding flat

It looks like the recent rally on AUDUSD could be limited to the 0.9150 area. If this happens, we will have a complete expanding flat correction, after which the larger downtrend should resume. If you do not know what an expanding flat is, you can go to out “Education” section and look for the “Elliott…

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You better cover your shorts on EURCHF

The decline that started from 1.2391 seems to be at its final stages now. The chart of EURCHF depicts a complete 5-wave impulse to the downside, so it is time to expect a 3-wave correction in the opposite direction. Furthermore, price is making a strong bullish divergence with the RSI indicator, typical to occur between…

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USDJPY, “The Falling Star”

“USDJPY will reach 115.00 in the first couple of months of 2014” -Deutsche Bank-. Well, we at Elliott Wave Markets think that we will not see another top from this pair.We think so, because we don’t rely on expert’s opinions or fundamental factors. We prefer looking at the charts, directly at market’s psychology. The first chart shows…

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EURUSD long-term perspective

EURUSD has been very stubborn in its attempt to hit the 61.8% Fibonacci level twice. It looks like this effort is going to be successful, because wave “c” of Y of (X) needs to be completed. In other words, figures around 1.39-1.40 should be reached, maybe during the first couple of weeks in 2014. After…

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EUR GBP Cross Rate

Both EUR and GBP look weak against the US dollar, but which one of them is weaker, compared to the other? There are two wave counts on the charts below, suggesting that the EUR should be stronger than the GBP in the long term.        

EURUSD: bears again

Despite all new highs, which EURUSD recently made, this pair remains bearish. Expect a reversal to the downside from that 61.8% Fibonacci level.

Two perfectly looking setups ahead of FOMC

EURUSD and USDCHF look ready to resume their larger trends after the FOMC report. According to the Elliott Wave Principle, when the market has drawn a 5-3 wave model, at least another five waves should be expected in the direction of the previous five, thus making the whole pattern 5-3-5. So, our idea is to…

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