Hi traders, USD/CAD is dropping sharply from the 1.346 high, giving us an idea that a bigger three-wave rally within higher degree wave B) can be completed, and that a new minimum three-wave A/1-B/2-C/3 drop is in play. Current impulsive weakness can look for support near the 1.323 level, level of a former swing high … Continued
Gregor Horvat is based in Slovenia (Central Europe) and has been active in the Forex market since 2003. He is a technical analyst and individual trader who also provides articles and trade plans based on the Fibonacci and Elliot Wave principles.
He mostly focuses on currencies, oil, gold, and the U.S. stock market.
He has worked for Capital Forex Group and TheLFB.com, whilst his feature articles have been published online across numerous industry websites.
Gregor Horvat is the founder of forex services on www.ew-forecast.com.
EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioural patterns based on the Elliott Wave Principle (EWP). EWP provides a method for identifying price points at which a market is most likely to turn. Knowing the probable swing and reversal points provides confirmation of where investors could enter and exit positions for the highest probability of success.
Hello traders, Today’s article is for ETPUSD also known as Metaverse ETP. On ETPUSD we can see a nice bullish recovery in play, up from 0.3003 level, which can be making a three-legged, or five-legged move. We already see a five-wave completed rally within wave (A)/(1), which was later then followed by a temporary pullback … Continued
USDSGD made a big, bullish recovery at the end of 2017, and in 2018. We can see that price found a top for this five-wave rally near the 1.3900 region, from where a new impulsive (five-wave) structure has followed. We labelled it as wave A, which can now be followed by a temporary pullback as … Continued
Today’s article is about silver and the USDCHF pair. Both are trading in a correction, which means both can see more weakness as we are in a bearish trend. Silver is nicely dropping within an impulsive move (five legs in the direction of a trend) and can also be trading at the beginning of a … Continued
Hi traders, USDJPY is nicely breaking above the 111.07 level, showing early evidences of a completed triangle correction in wave 4 of a higher degree, and that wave 5) is in progress. In such case be aware of more gains, ideally in impulsive (five-wave) fashion, targeting 111.4/111.50 area, where triangle measurement projects end of a … Continued
Here on the daily chart of USDSGD and USDZAR we can see that the USD dollar can gain more bullish price activity against the Singapore dollar, and the South African rand. On both pairs we can see that price has recently been trading in a temporary pullback from the highs, which has in 2019 come … Continued
Hello traders today let’s take a look at GBPUSD and USDJPY pairs. GBPUSD made a nice five-wave drop from the 1.321 level, which is a sign of a completed higher degree wave C, and that a new bearish cycle is in play. We know that after a five-wave price development fully unfolds, a three-wave correction … Continued
USDNOK unfolded a bigger five-wave rally from start of 2018, and unraveled a bigger wave 1, that found a top at the upper Elliott wave channel line. The sharp reversal that followed from the upper channel line can now be labelled as wave A), first leg that can be part of a bigger three-wave retracement, … Continued
Commodity currencies are making some pullback against the USD, except AUDUSD where we see pair higher after RBA Rate Statement (1.5%), Retail Sales (-0.4% vs 0.0%) and Trade Balance (3.68B vs 2.25B) figures. Technically speaking, there is room for 0.7300/0.7340 area while pair is above 0.7175. AUDUSD, 1h NZDUSD may also still see more gains, … Continued
Crude oil is also unfolding final wave 5) as part of a bigger impulse, labelled as wave A. Resistance and a possible top can be found near the 56.0/57.0 area, where Fibonacci ratio of 38.2/161.8 can represent a turning point. That said, a drop in five minor waves, and below the lower Elliott wave channel … Continued
GBPNZD is making a nice run, but so far only in three leg up from December low, currently in wave C with subwave five here in progress, so a top may not be far away. However, there is still room for 1.9500, so it’s very important to wait on a bearish impulsive turn before we … Continued
As expected, Power Ledger is nicely breaking higher, so it should be bullish confirmed now. It can be trading within wave 3 and looking at the daily chart, there’s room for more upside towards 0.15-0.17 area. POWRUSD, Daily On the 4-hour chart we can see a five-wave rally into a blue wave »i« of a … Continued
On energy we see price recovering in an impulsive manner, ideally unfolding a bigger three-wave reversal. With current rally from the 42.46 level comes an indication that a low had been put in place for a former higher degree wave A and that a bigger black wave B correction can be in the making. In … Continued
GBPUSD made a five-wave rally from the 1.240 level, and ended it with an EW ending diagonal at the 1.28 level. Current intra-day drop that we see from the highs, can be part of an unfolding a-b-c correction, which can look for support and a bounce near the 1.261/1.255 region. GBPUSD, 1h Crude oil can … Continued
Hi traders, Stocks have seen another leg down yesterday during the US session so it’s not a surprise that Nikkei keeps moving lower which makes JPY very strong in this risk-off environment with lower Yields/ higher notes. Notice that USDJPY made only a three wave rally from recent low so pair remains bearish and looks … Continued
Hi traders, USDCHF is currently recovering from the 0.9861 region, giving us an idea of a possibly completed three-wave correction within wave 2, which points to more upside. If that is the case, then a bullish continuation may now be in play, which can break above the 1.0006 bullish level and above the upper channel … Continued
AUDUSD has been trading bearish for 2018 and by the looks of it, price can be unfolding a big, bearish impulse, down from 0.814 area. An impulse is a five-wave devlopment which tells us where the trend is going, and in our case we see it going lower. We specifically see price at the start … Continued
Hi traders, German DAX can be unfolding a bigger, overlapping decline down from 11692 level, which we see it as a EW ending diagonal. A EW ending diagonal is a powerful reversal pattern, that consists out of five waves, and each of them has three sub-waves. That said, at the moment we see price unfolding … Continued
Hello traders, No bullish evidences on Crude oil yet. That said, seems like Crude oil still can see new lows below 50 area, but carefully because it’s the final wave 5 of 5), so bounce may occur anytime. Watch out for spikes as well. However, as long as Crude oil keeps trading within bearish Elliott … Continued
Hi traders, EURGBP made a sharp rally recently, away from 0.865 level which was quite expected, as we were tracking final stages of a bigger corrective wave B). This recovery we now labelled as wave 1 of a bigger bullish rally, which looks to have found a top and resistance at the 0.894 level, from … Continued