Copper Facing a Correction Within Uptrend

copper elliott wave analysis

The price of copper climbed to 2.9154 yesterday as it continues the impressive recovery from the low at 1.9322 in January, 2016. Copper prices are vitally important not only to mining companies like Freeport-McMoran, but to the world economy, as well. It is true the metal has gained over 50% in value in just a…

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Price of Palladium at a Critical Juncture

price of palladium

It has been a slow and choppy advance, but the price of palladium somehow managed to climb from as low as $450 in January, 2016, to $818 as of this writing. This means that an investment in palladium would have returned nearly 82% since the start of last year. However, the past is not always a…

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Ethereum Ready for a Pullback?

ethereum

Less than two years since its launch on July 30, 2015, ethereum has already become the second largest cryptocurrency in the world, with a market capitalization of roughly $4.5 billion, trailing only to bitcoin’s $20 billion. We are definitely not the people to ask how exactly the blockchain technology works, but ethereum’s decentralized nature means its price…

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NZDUSD: Interpreting the Recent Shine Loss

NZDUSD has been rising during the last month and a half, but lost its shine recently by dropping from 0.7374 to as low as 0.7155 in just five trading days. As always, the main question is where is the pair going to from now on? If you do not want to blindly follow the herd,…

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NZDUSD Poised for a Corrective Recovery

NZDUSD has been steadily declining since November 8th, when it reached 0.7402. Currently trading near 0.7020, the bears seem unstoppable and after a selloff of over 400 pips, it looks like the pair is headed much lower. However, even the strongest trends are interrupted by moves in the opposite direction, which might cause a lot…

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EURAUD Could be Aiming at 1.51

The EURAUD pair has been in a downtrend for a month since February 11th. Then, on March 10th, the bulls woke up with a bang and lifted the exchange rate from 1.4465 to 1.5085 in just five hours. Today, EURAUD fell to as low as 1.4662, before climbing above 1.4850 so far. Which of the two…

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EURJPY Looking for Fibonacci Support?

The Elliott Wave Principle is a market forecasting method, based on pattern recognition. If an analyst is able to recognize a pattern on the chart and knows what should follow, he could as well be able to predict what the market is most likely to do next. That is what we are going to try…

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EURCAD’s Recent Weakness Deciphered

EURCAD surpassed the 1.61 mark on January 20th, but the bulls could not hold on to that momentum, which led to a sharp decline to 1.5245 just five days later. Currently, the pair stands slightly above 1.5415, but the recovery seems to be a timid one, not giving us enough confidence to “buy the dip”.…

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AUDJPY to Extend The Corrective Recovery

While the big picture outlook in AUDJPY remains clearly to the south, the smaller time frames may offer some short-term bullish swings. Elliott Wave patterns could be found on all degrees of trends, which gives us the opportunity to examine the 15-minute chart, in order to see if we could recognize something. It looks like…

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AUDUSD, Just One Day Later

Yesterday we posted an article, called “AUDUSD Bulls Aiming Higher”. We thought the pair has the potential to grow, because we recognized something on its 15-minute chart. A five-wave impulse to the upside, followed by a three-wave retracement. See it below. We saw a nicely-looking 5-3 wave cycle. According to the Elliott Wave Principle, the…

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AUDUSD Bulls Aiming Higher

Elliott Wave patterns can be found on all degrees of trend, even on the smallest time frames. The AUDUSD exchange rate seems to be giving us a good example. If we take a look at its 15-minute chart, we could see something very familiar – a 5-3 wave cycle. As the chart shows, AUDUSD rose…

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AUDJPY To Regain Intraday Positive Bias?

The Elliott Wave Principle is a forecasting method, based on chart analysis. It postulates that trends move in recognizable patterns, called waves. A five-wave impulse, which indicates the direction of the trend, is followed by a three-wave retracement in the opposite direction. When this 5-3 wave cycle is over, the trend resumes. The pattern could…

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DAX Bulls Might Have To Wait A While

The German DAX bottomed at 9 304 on September 29th and has been rallying ever since. Yesterday, on October 19th, the index touched 10 205, suggesting the bulls might be ready to wake up. Does this mean one should go long right now, just because the price is rising? The short answer is always “no”.…

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EURUSD Triangle Warning Ahead Of FOMC

Triangles are known for preceding the last wave of the larger sequence. In an A-B-C zig-zag pattern, the last wave is wave C. According to the Elliott Wave Principle, once wave C is over, there is a reversal. EURUSD seems to be giving us an example. As it appears, there is a triangle wave B,…

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Palladium To Regain Negative Bias?

On the 15-minute chart of palladium there seems to be an almost finished Elliott Wave cycle. A five-wave impulse to the south from 604 to 567, followed by an almost finished w-x-y double zig-zag correction. In addition, it looks like wave B is going to end somewhere near the 61.8% Fibonacci level. According to the…

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