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A Bullish Reversal Ahead For Home Depot?

The Elliott Wave Principle is known for its ability to help traders and investors analyze both short and long term charts. This is possible, because the wave patterns can be found on all degrees of trend – from the smallest to the largest. It seems that Home Depot Inc. stock is giving us a short…

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USDJPY In Final Stages Of Larger Pattern

Last week, USDJPY topped close to 120.50 and has been trading below this mark ever since. According to the bigger picture, 120.50 should be the peak of wave D of a triangle correction. This means we are currently in wave E of the pattern. Those, familiar with the Elliott Wave Principle, know that in a…

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USDCAD In The Middle Of A Correction?

The USDCAD exchange rate touched 1.28 last week, but the bulls could not resist, which led to a decline of roughly 450 pips to as low as 1.2352. And while the larger uptrend is still in progress, the smaller time-frames suggest for more short-term weakness in USDCAD. The one thing, which brought us to this…

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Crude Oil With a Bullish Elliott Wave Setup

After a long and steep decline, the 30-minute chart of crude oil suggests it may be time for a larger recovery. It shows a nicely looking 5-3 wave cycle, where the five-wave sequence points to the upside. According to the Elliott Wave Principle, prices should be expected to start rising again, as long as the…

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Brent Oil Prices Could Rebound To $60

In our last forecast for 2014 we will take a look at brent oil prices short term perspectives. As the whole world already knows, oil prices have declined by nearly 60 dollars since their June peak at above $115. If you see it on a weekly chart, this sharp sell-off looks almost like a straight line.…

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Palladium Confirming The Reversal

In our previous analysis of palladium we gave you two bearish scenarios, both of which suggesting for a reversal in the zone of 820. Today, one week later, the precious metal seems to be confirming the expected change of direction. As the chart shows, the price of palladium formed a top at 822 and then…

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EUR USD Still Weak On Intraday Basis

On the 15-min chart of EUR USD we see something, which could easily be taken for a five-wave impulse to the downside, followed by a correction to the upside. Furthermore, this wave B retracement is getting close the 61.8% Fibonacci level, which often serves as a resistance. In terms of the Elliott Wave Principle, this…

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Silver Prices: Correction Within Uptrend

The first of December was an interesting day for silver. At first, prices fell to as low as 14.33, but this weakness turned out to be short-lived. By the end of the day silver prices climbed up to 16.80. The wave structure of this 2.5-dollar rise increases the odds in favor of a larger uptrend…

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The Bears Are Ready To Attack AUD JPY

In our previous analysis of AUDJPY we showed you the big picture outlook on this pair. Here you will see the latest details on an intraday basis. In Wednesday’s analysis there was a small chart, depicting that the recent decline from 102.84 to below 100.00 is impulsive. AUDJPY bottomed at 99.90. After that it recovered…

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USD CAD: A Bullish Elliott Wave Setup

USD CAD managed to climb above 1.13 in the beginning of the week, but the bulls quickly ran out of power, which brought the forex pair back down to the 1.1220s. In order to form an opinion about the most probable future development, we will examine the 15-minute chart of USDCAD. Does the chart show…

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Price of Silver: Upside Could Be Limited

The price of silver managed to run away from the lows around $15. During the last two weeks the precious metal made a couple of jumps, which led prices above 16.50 as of today. However, this recovery could be limited under the $17 mark. The Elliott Wave analysis of silver’s price action will show you why.…

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“Five” Down for Microsoft

Microsoft reached $50.00 per share a week ago, but the bulls could not keep the pace up, which led to a decline to $47.85. However, prices found support there and started recovering. In the end of the day Microsoft was trading above $48.50. In order to give a meaning to these figures, we will look at the…

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USD JPY: Deeper Pull-Back Ahead?

The USD JPY foreign exchange pair has been in a strong uptrend. Earlier today it climbed to as high as 117.04, but reversed sharply to the downside after that. Is this pull-back set to extend? The chart below could help us form an opinion. In the Elliott Wave Principle‘s catalogue of patterns there is one called…

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GBPJPY performing nicely

A week ago, on October 22nd, we published an analysis, called “GBP JPY to regain positive bias”, saying that we expect the uptrend to resume soon. We thought so, because the 15-min chart of GBPJPY was showing a perfect impulse to the upside, followed by a correction and according to the Elliott Wave Principle, prices…

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GBP USD to head towards 1.64?

Four days ago, on 19th October, we showed you a 4-hour chart of GBPUSD in an article called “Decreasing Selling Pressure on GBP USD”. The corrective recovery, which we told you about in this material seems to be still in progress. In order to gain deeper knowledge of the wave structure of the rise, we will take…

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