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…
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…
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”.…
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…
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…
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…
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…
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”.…
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,…
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…
USDJPY Sends A Bearish Message
USDJPY climbed to 125.28 yesterday, but the bulls could hold on to that momentum, which led to a decline as low as 123.78. The pair is now trading around 124.60. Let’s see what are we going to find, if we take a closer look at USDJPY’s recent behavior on a 15-minute chart. As Elliott Wave…
GBPUSD Sends A Bullish Message
According to the Elliott Wave Principle, every five-wave impulse is followed by a three-wave retracement in the opposite direction. Once the retracement is over, the trend resumes in the direction of the impulsive sequence. Now, let’s see what would we get, if we apply these rules to the 15-minute chart of GBPUSD. As visible, GBPUSD…
NZDUSD Intraday Bullishness
NZDUSD bottomed at 0.6620 and bounced up to 0.6770. This recovery was immediately followed by a new decline to 0.6684 so far. What to expect from now on in the short term? The Elliott Wave Principle might help us find the answer. First, we need to take a look at the 15-minute chart of NZDUSD,…
Platinum Is Bullish On Intraday Charts
Elliott Wave patterns can be found on all degrees of trend, from the largest to the smallest. Platinum is giving us a great example of the latter on its 15-minute chart. It shows the classic 5-3 wave cycle. An impulsive five to the upside is followed by a corrective decline in three waves. Note that…
AUDUSD Short Term Pull-Back
AUDUSD rose sharply from 0.76 to 0.7818 yesterday. If we take a look at this rally on a 5-minute chart, we will see that it has a perfect five-wave impulsive structure. According to the Elliott Wave Principle, today’s decline is part of a natural three-wave retracement, which follows every impulse. Once the correction is over,…
