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
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.
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 development 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
EURUSD looks as it has ended its complex decline, down from September highs as we see all three waves W,X,Y unfolded. Also price made a recovery at the 1.122 level, indicating that wave Y found a low, and that a minimum three-wave reversal to the upside is now in play. In such case, we would … Continued
Stocks rallied yesterday, which has been technically expected as we see E-mini SP500 futures moving down into fifth wave of decline with a wedge shape. This pattern was broken to the upside, so market is now in a three wave corrective bounce. It’s a temporary recovery that can be slowed down at 2755-2770 area, but … Continued
We see some serious and very strong dollar move at the start of a new trading week. EUR/USD just went below August 2018 levels quite aggressively which seems like an important break-down, but until we see a close below that price it can be too soon to call that a breakdown! Also, an intraday chart … Continued
Bitcoin Cash made an impulsive rally, but still can be a part of a three-wave a-b-c regular 3-3-5 correction. We still think that Bulls are not ready yet, especially because of a bearish looking BTC and friends, so we assume that BCHUSD can be making just a bigger flat correction in wave 4 of a … Continued
AUDUSD is reversing higher for the last two weeks, moving into a new corrective recovery which can be wave four of a higher degree. Fourth waves can retrace back to the area of a former wave four which in our case is at 0.7451, so there is room for more upside this month. AUDUSD, Daily … Continued
USD Index is breaking above 96.15 meaning that wave C can be underway, or maybe even wave 3 of a new bullish run, but in both cases there is room for DXY to continue towards 97.00 projected area while market trades above 95.50. Break below that level would be a trend changer. USD Index, 4h … Continued
EURUSD made a five-wave decline from the 1.163 highs which we labelled as end of a bigger correction of wave B/2. Current five-wave drop can now be part of an ucpoming bearish continuation within wave C/3, with current rally being recognized as a possible three-wave correction. This correction can be a simple a-b-c one, with … Continued
EURUSD can be counted in five waves from 1.1430 low so more upside can be coming after a three wave set-back which is still underway. Ideally there will be an a-b-c set-back into 1.1500 area where bounce may show up this week. EURUSD, 1h GBPUSD saw a sell-off recently, so a new corrective set-back is … Continued
We have seen a real crash yesterday during the US session, which caused a drop of global indices across the globe. We see some fear spreading, which may cause even more selling in upcoming sessions. German DAX is making a bearish impulse, now slowing down around 11500 which can be a temporary low of wave … Continued
On USDCAD we identified a completed Elliott wave leading diagonal within higher degree wave 1 that sent price down into a wave 2 correction. This correction can be ending near the 1.28 area, where the lower channel lines sits and Fibonacci ratio of 50.0 is. All being said, a rally in impulsive fashion towards the … Continued
On the daily chart of USDJPY we see price unraveling a part of a bigger, complex correction, known as an Elliott wave triangle pattern. A EW triangle is a five-legged pattern, which moves sideways and can be contracting or expanding. In our case we see it contracting, and currently unfolding leg D with its three-wave … Continued