USDJPY still corrective

On March 6th we showed you this forecast of USDJPY. We were anticipating the end of the corrective wave (2) or B and a sell-off in wave (3) or C down. As you can see on the chart below, prices did decline by more than 250 pips from 103.75 to 101.18. However, it turned out that…

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Rolls-Royce Holdings PLC

Rolls-Royce’s multi-year uptrend started more than 10 years ago. For that time prices have climbed up from beneath 1 GBP to nearly 13 GBP per share. On the monthly chart of Rolls-Royce we can see how this rally looks like. It could easily be seen as an unfinished impulsive wave. From what we see, we…

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Vodafone Group PLC

On the hourly chart of Vodafone Group PLC we are tracking a nice impulsive wave pointing south. This is the most common Elliott Wave pattern and according to The Theory we should now expect a counter-trend movement in three waves for (2)/B, that will complete the 5-3 cycle, after which another five-wave decline should follow. Our…

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GBPUSD and the Fibonacci magic

GBPUSD formed a top at 1.6822 on February 17th 2014 and has been in corrective mode for more than a month, bottoming at 1.6460 on March 24th. If we look at the 4-hour chart of GBPUSD, we could see that the price action has formed a classical 5-3 Elliott Wave pattern. What is more interesting…

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EURUSD still on schedule for a crash

Bulls are getting more and more excited about EURUSD as it is getting closer to the 1.40 mark. But if we want to draw a line between financial decisions and emotions we need to look at the charts, because they show what is really going on in any market. For the purpose of analysis we…

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NVIDIA is in danger

NVIDIA’s shares took a bad hit during the 2007-2009 stock market crash. Prices fell down from an all-time high of 54$ to 6$, which is 89% devaluation. What is more important is the wave structure of the crash – a five-wave impulse for A. NVIDIA then bounced up to 28$, but rally was limited to…

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Pfizer Inc. at the end of the road

Pfizer Inc.’s four year bull market may be nearing its end. A five-wave rise from the end of June 2010 seems to be reaching a final top. According to The Elliott Wave Principle, a three-wave decline of equal degree should come next. The Relative Strength Index is providing even more evidence for a probable loss…

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India on the brink of a new era

In the end of 2008 India’s stock market hit bottom, finishing its correction of the rally form 2003. Since then there has been a strong, non-overlapping movement to the upside. The chart below is a classic example of the fractal nature of aggregate stock market price movement. We are identifying a series of 1s and 2s,…

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Siemens AG reached target

On the 4th of March 2014 we made a forecast that Siemens AG’s shares could go near 89$. However, we supposed that a little more upside was possible, but prices fell instantly and 10 days later, on March 14th, our target was reached. We want to stress that, when we made that forecast, we were…

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GBPJPY intraday update

Correction for wave (2)/B seems to be finished in the form of a double zig-zag w-x-y. Prices could start declining towards the first target of 167.00 south. Here is our big picture outlook on GBPJPY and on the chart below you can see how it has been developing so far.

Gold fell as expected

On March 12th we warned you that gold could slow down. We thought so, because on the chart of gold we were already able to see three completed waves, so it was time either for the end of the whole move, or at least for a pullback in wave 4. In both scenarios a decline…

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Carrefour SA, nearing the top

Carrefour SA started rising on the 10th of July 2012 and have been in an uptrend ever since. This rally began at 13 euro per share and peaked on December 2nd 2013 at 29.14. After adding over a 100 percent, it looks like it could go a little higher and the 30 euro mark could…

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AUD/USD, ending diagonal?

Ending diagonal, as its name suggests, is a reversal pattern, that occurs either in the position of wave C of a correction or as wave 5 of an impulse. On the chart of AUD/USD below you can see both cases. First, in wave 4 we have an ending diagonal for wave “c” down. Second, wave…

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GBPJPY, from large to small

GBPJPY bottomed in the beginning of October 2011 and has been in a strong uptrend ever since. The Elliott Wave Principle has taught us never to rely only on the trend, but to look into its structure, in order to determine in which phase it is now and what is left from it. So starting…

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Sugar trading opportunities

Sugar could provide two opportunities. The fist one is to wait until wave “B red” is finished and sell in order to catch wave “C red” down. Entries should be found around 17.80, stop loss at 18.50 and take profit at 16.10. If we look at the bigger picture we will see that this A-B-C…

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