USDRUB ready to resume the uptrend

In the middle of March 2014 USDRUB reached 36.716, but has been declining ever since, falling to as low as 33.540. We will use the 4-hour chart to determine if we should expect more weakness. And the chart shows an impulsive rally, followed by a corrective channel, in which that 3-figure decline has been developing. Pay attention…

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EURUSD ready to make a move

On June 5th we showed you an analysis of EURUSD suggesting that we have a complete impulse to the south and therefore we should prepare for a three-wave correction in the upward direction. On the chart below you can see how EURUSD looked like when that forecast was made. The previous analysis was published right after…

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NZDUSD approaching a major resistance

NZDUSD is getting closer to 0.8800, which may boost the bulls’ confidence, but an Elliott Wave analyst never relies only on rising prices. The weekly chart shows why. As you can see the whole price action since March 2009 looks corrective – like a double zig-zag, labeled (W)-(X)-(Y). The minimum requirement for wave (Y) is…

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Gold with two short-term bearish counts

In our previous analysis of gold we were expecting an upside thrust from a fourth-wave triangle to lead prices to 1327 in wave 5, followed by a temporary reversal in wave “B”. When this forecast was published gold looked like this: On the next chart you will see how the situation developed as well as the first…

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Brazil ETF intraday setup

On the 30-minute chart of the Brazil ETF Index we have a perfect 5-3 Elliott Wave cycle. An impulsive rally from 45.77 to 50.00, followed by a very clear expanding flat correction. According to the Wave Principle, we should now expect the trend to resume to the upside in wave (3)/C. If this is the correct…

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Russia’s MICEX rising despite the conflict, why?

“We will now use the opportunity to warn you, that the fundamentals are likely to be suggesting an endless bear market and the conflict will probably be at its worst. Prices should start rising despite all that.” This excerpt is from an article called “You do not have to wait for Crimea”, which we published on…

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Nikkei, do not believe the rally

Nikkei formed its last major bottom around 13820 in the middle of April 2014. Afterwards it began a rally, which managed to convince many, that the top of 16330 may soon be exceeded. However, no Elliottician starts buying simply because of the rising prices. If you are curious enough to walk through our Education section, you have…

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Gold with one final swing higher

On the 1-hour chart of gold we can see something, which looks like an unfinished impulsive five. Wave 4 seems to be a triangle, so we expect the final wave 5 up, probably to the zone around 1327. Triangles precede the final movement of the sequence. In this case it is wave 5, so after…

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The stop-loss order and why you MUST use it

If you were a boxer, you would inevitably receive some punches during a match. The important thing is not to take a hit so hard to knock you out. If you do, the game is over and if the punch was hard enough, your career could be over as well. When you are a trader,…

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Anglo American, fake recovery in progress

Anglo American stock topped at 16.78 on May 13th and bottomed at 13.91 on June 13th. A decline of almost three figures in just one month, but if we look at it through Elliott Wave perspective, we may come up with an idea of the probable future development. On the 1-hour chart of Anglo American…

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Gold with a golden forecast, literally

More than a month ago, on May 9th, we published our mid-term forecast of gold. When the yellow metal was trading between 1290 and 1300, we were expecting a decline to the 1250 area, followed by a strong bullish reversal back to the 1300s. The chart below will remind you of how gold looked like, when…

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USDCAD, well done

On June 4th we showed you a forecast of the USDCAD forex pair, saying that “after the end of wave C, we will be expecting another decline, probably below 1.0810.” When we said that, the chart of USDCAD looked like the one below. USDCAD was trading around 1.0930, but we were expecting a decline below 1.0810,…

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Procter&Gamble, reversal ahead

Procter&Gamble lost almost 4$ of its share price, declining from 83 to 79.10 during the last two months. If we take a look at the wave structure, we will see a clear five-wave impulse, so according to the Elliott Wave Principle, we should now expect a three-wave rally. Our bullish expectations are further confirmed by…

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Gold short-term bearish on 15m chart

Gold topped at 1285 and went down in five-waves to 1258. This means that the rally, which is currently in progress should be only a correction. Every correction consists of three waves, so it seems that there is one more swing higher left, before the decline resumes in wave (3)/C. Ideally, prices would find resistance…

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Tesla Motors and the real cause of the rally

“Tesla Motors Inc. shares hit their highest level in months following a news report about a possible collaboration with competitors Nissan Motor Co. Ltd. and BMW AG on expanding the network of charging stations for electric cars.” – MarketWatch – This statement would be logical, if Tesla’s stock prices were in a downtrend before the above-mentioned news, despite the…

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