Hi traders, German DAX is unfolding a three-wave pullback down from the 12450 highs, which can be labelled as a higher degree wave B). We see currently sub-wave C of B) in play which can look for support near the 12170/12100 region. A later rally in impulsive fashion would indicate a bullish turn and more … Continued
- Technical analysis is a method for projecting the future direction of the price of financial market assets. Furthermore, it can also be used in the setting of potential price targets. Also read our Expert forex market forecasts
- The direction of future prices are determined by analysing previous market data; primarily price, time and volume.
- Technical analysis predictions are rejected by proponents of Efficient Market Hypothesis and Random Walk Theory, which predicts that future prices are effectively unpredictable.
- Technical analysis uses many different tools, methods and techniques, but primarily it employs price charts plotted over time to identify price patterns and trends.
- For this reason, Technical Analysts are also referred to as Chartists.
In this section we will provide articles to help develop the reader’s technical analysis knowledge base and to highlight ways in which technical analysis tools can be used for successful trading decisions.
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USDCHF is unraveling a beautiful bearish impulse from the highs, with current recovery representing wave iv) correction. This wave iv) can unfold as a double zig-zag pattern, which can later look for resistance near the Fibonacci ratio of 38.2 or higher, at the 0.9889 level, where former swing high can have the same effect, a … Continued
Hi traders, hope you’re doing well. Today, let’s take a look at a new VIDEO analysis where we observe the GBPJPY and EURUSD pair. Let’s dig in! On GBPJPY daily chart we can see that price completed a higher degree correction at the 156.61 level with a new bearish reversal, down from end of 2017. … Continued
EUR/GBP is up for the third consecutive day The pair is resuming its main bull trend Market is trading above its key moving averages The target to the upside is located above and beyond 0.9000 Eurozone annual inflation rate was confirmed at 2.1% in July 2018, up from 2.0% in the previous month and the … Continued
Hi traders, NZDUSD is slowly turning to the upside, suggesting that a higher degree wave 3 found its low and a new temporary three-wave correction is in play. As such we are observing current intra-day impulse as sub-wave a of 4 that can look for resistance and a temporary drop into sub-wave b near the … Continued
AUDJPY is still trading choppy, overlapping and slow, indicating that a triangle correction can be in play on the pair. We specifically see leg d of this triangle, which can look for support and a bounce into final leg e around the 82.110 zone. That said, a later breach below the 81.93 level would confirm … Continued
GBPJPY has been trading choppy and overlapping in a higher degree wave 4 in June and found a top In July, at the 149.31 to be specific. We can see that price dropped nicely from the highs, which gave us thinking maybe a new drop in five-waves can be in play for the pair. If … Continued
Hello traders, GBPJPY can be trading at the end of a bigger, flat correction which started unfolding at the end of July. We see first and second waves a) and b) completed, so current turn up from the 145.1 area can be final wave c) with its five-wave rally. This five-wave rally can look for … Continued
Good morning traders, All three of the pairs, EURUSD, AUDUSD and GBPUSD look great and are easy to count. On GBPUSD we see a five-wave drop in play down from 1.3213 area which is a trait of a bearish impulse, and which suggest where the intra-day trend can be going. We see it going bearish, … Continued
ZeroX can be approaching the end of a big bullish triangle correction. Hello everybody! Cryptocurrencies are becoming more and more interesting after a long correction in 2018, which can be approaching the end soon. There are many interesting cryptocurrencies, but we decided to share ZeroX against Bitcoin (ZRXBTC). Why against BTC? Well, there are no … Continued
We noticed that some of cryptocurrencies can be completing a big bullish triangle pattern. In 2017, we have seen sharp and impulsive rise in the whole Crypto market, but later in the beginning of 2018 cryptocurrencies began to fall and we noticed that some of them can be approaching the end of a correction soon. … Continued
Hi traders, As expected, EURCAD turned nicely lower from projected resistance level after a three-wave a-b-c recovery, so be aware of more weakness, while it’s trading below 1.5584 invalidation level, especially if price breaks beneath channel support line and 1.5320 level. EURCAD, 1h Just like EURCAD, even GBPCAD points lower as expected, so Canadian Dollar … Continued
Hi traders, Crude oil is unfolding a five-wave recovery from June lows which are characteristics of an impulse, with current turn lower unfolding a temporary correction. We specifically see price making a contracting pattern from 75.23 swing high which in Elliott wave theory resembles a EW triangle correction, a slow and sideways price activity within … Continued
USD began the week in the ascendency against the Yen This broke down as the week drew on The USDJPY pair is used as a vehicle to express trade-war concerns The short-term outlook for the USDJPY is soft The technical picture for the USDJPY pair is muddled with short and long measures saying buy the … Continued
Crude oil is unfolding a clear, five-wave recovery from June lows which are characteristic of an impulse. We specifically see price at the end of wave 3) which is already showing signs of a completion at 75.23 level, from where a new intra-day drop followed yesterday. This dip to 72.60 can be wave A as … Continued
EURUSD has made a sharp drop in three waves from February highs which was expected, as we were tracking final stages of a bigger, bullish five-wave development as wave C. Wave C represents a final leg within a three-wave movement, meaning a change in trend can follow; also price unfolded five legs within wave C, … Continued
Crude is under pressure as the markets awaits Opec It holds our attention as Opec produces 40% of the world’s total crude oil The Saudis and Russian’s both see a need to raise production President Trump has blamed Opec for recent price spikes Prices are set to be quiet until Thursday and Friday Oil prices … Continued
CADJPY has five waves down and three waves up, which is an ideal pattern for a bearish set-up. At the end of May, we have seen a sharp and impulsive drop with five waves and as we know after every five waves, a three-wave correction follows. As you can see, a three-wave A-B-C correction can … Continued
Hello traders, and welcome to another updated where we will discuss where the market is going on AUDUSD. Let’s dig in. AUDUSD completed a five-wave overlapping price movement within a higher degree wave C in 2017, which is known in Elliott wave theory as an ending diagonal. We can see that the top was found … Continued
Hello traders, today we are going to look at USDCAD. USDCAD made a sharp and strong recovery in September of 2018, which can be a sign of a bigger bullish cycle. If that is the case, then turn up from 1.2245 level can be wave 1), first wave of a bigger impulsive wave three. We … Continued