EUR/USD Elliott Wave Analysis: 3 Ending Waves Meet a 10 Year Trend Line...

EUR/USD Elliott Wave Analysis Talking Points: EURUSD is very close to completing a three year Elliott Wave expanded flat pattern The final wave is taking shape with some targets near the 10 year trend at 1.26 A bearish reversal has an initial target of 1.15 with a secondary zone 1.09-1.12 EUR/USD Elliott Wave analysis shows a three year expanded flat pattern very close to being completed. New highs above 1.26 may be short lived as a large bearish reversal hovers nearby. Elliott Wave Flat Pattern Began in 2015 EUR/USD has been correcting sideways since March of 2015 as an A-B-C wave. This three-wave move is shaped as an expanded flat pattern. According to the Elliott Wave principle, the ā€˜Cā€™ wave of the flat would need to carve in five waves and it is the terminal wave of the larger pattern. We can see from the chart below that the pattern is nearly complete as the fifth and final wave is advanced in length. Elliott Wave Theory 5th Wave of a 5th Wave underfoot One benefit of reading the charts using Elliott WaveArticle source:...

Crude Oil and Natural Gas Approach Longer Term Pivot Levels...

Elliott Wave Talking Points: Weekly Crude oil chart shows price near a common reversal point Anticipating a bearish reversal to retrace a significant portion of the 2016-2018 up trend Bonus chart of a Natural Gas forecast as a meaningful low may be forming soon The crude oil Elliott Wave analysis on the weekly price chart shows a bearish pivot may be occurring near current levels to retrace a significant portion of the previous uptrend. Nat Gas prices may be approaching a significant bullish turning point too. Within an Elliott Wave impulse wave, many times the fourth wave will retrace to the price extreme of the previous fourth wave at smaller degree of trend. For crude oil, the previous fourth wave was June 2015 near $62. Crude has temporarily popped above this level suggesting that current uptrend is mature in both time and price (see the green arrows on the weekly chart below). We can also anticipate a termination point in the fourth wave of an impulse by drawing a trend line connecting the end of waves one and three. Then, duplicate that line and place it at the end of wave two of that impulse. Many times, the fourthArticle source:...

Elliott Wave Analysis: Dow Jones, Nasdaq, and Dax 30 Dive Impulsively...

Dow Jones, Nasdaq, Dax 30 Elliott Wave Analysis Talking Points Dow Jones Industrial Average holds above Elliott Wave channel Nasdaq bearish reversal at Elliott Wave channel Dax 30 is the weakest as it could not reach Elliott Wave channel midline As investors search for reasons why the largest correction in years is occurring, traders look to the technical charts. Our Elliott Wave analysis for Dow Jones, Nasdaq, and Dax 30 shows a wave picture that is likely incomplete to the downside. Dow Jones Industrial Average Sticks on Top of Elliott Wave Channel Many times Elliott Wave impulses form a price channel by connecting the extremes of waves 2 and 4 and projecting it over wave 3. Dow Jones Industrial Average has rallied past the upper channel line in a blow off top. Returning inside the Elliott Wave channel can be a signal that the rally is over. Dow Jones Industrial Average is hovering near the channel line so continued weakness in the market may confirm the top is in. If DJIA is successful in returning inside the Elliott Wave channel, then the next level of support enters the picture near the lower channel boundary near 20,000. If this areaArticle source:...

Bitcoin Elliott Wave Forecasts Dominant Bearish Trends...

The Bitcoin Elliott Wave forecast suggests that the bearish patterns are dominating so long as Bitcoin prices remain below $14,000. Bitcoin Elliott Wave Analysis Talking Points: Bitcoin prices have been contained inside a downward sloping price channel Recovery from January 17 to January 20 takes the shape of a corrective zigzag pattern (purple box) Pressure remains to the downside so long as prices remain below the upper channel line Bitcoin prices are falling within a downward price channel. It is possible this downward wave since December 17 is a bearish zigzag and the first wave of a larger correction or perhaps the beginning of a larger bearish impulse. As I contemplate the potential for bullish patterns, the models return results that are temporary and short lived. As a result, this cryptocurrency is operating in a sell the rally environment until we see a bullish motive wave develop. Bitcoin Price Charts Offer Corrective Rallies The Bitcoin price rally that began on January 17 appears to be a three-wave rally. According to the Elliott Wave principle, three wave moves are corrective and tend to be completely retraced. Therefore, the January 17 ā€“ 20Article source:...

AUD/USD 2018 Forecast Includes a Smooth Start and Rough Finish...

As we peer across the horizon of a new calendar year, it appears as though AUD/USD may be rising towards a longer-term top. The Elliott Wave models we are following suggest AUD/USD may continue to rise in the first part of 2018 with a longer-term reversal taking place on a mild break above 81 cents. There are several wave relationships showing up near 82 cents that may act as the reversal zone. Do you struggle with your trading? This could be why. We think AUD/USD has been slopping higher in a complex wave that began September 2015. We are labelling the pattern as w-x-y (Expanded Flat-Triangle-Zigzag). It appears as though AUD/USD is carving out a terminal wave of the bullish zigzag. The zigzag would subdivide as a 5-3-5 wave sequence that began in May 2017. Since waves (a) and (b) are completed, that means AUD/USD has begun its climb in a wave (c). We can anticipate the (c) wave of the zigzag to subdivide as a diagonal or impulse wave. The sharp rise over the past few days tips the scales towards the (c) wave carving as...

USD/CAD Falls Towards Support Offering a Bullish Setup...

Talking points -USD/CAD in a sideways consolidation that likely breaks to the upside -Wait for bullish break of December 22 high -This break higher may be the final wave of a larger second wave Why do a majority of traders lose? Find out in our traits of successful traders research. Previously, we wrote how any weakness in USD/CAD may prove to be temporary. The price action since then has driven the market into a sideways consolidation, which continues to support an eventual bullish breakout. Since the market is currently sandwiched between two holidays, we may have to wait until the New Year for the market to break out. Sideways ranges can be difficult to pinpoint from an Elliott Wave perspective. However, since we are consolidating sideways after a large run higher, this provides a hint that the next wave may breakout above resistance. The Elliott Wave model we are following suggests we are in a (b) or (x) wave of a bullish sequence. Therefore, once USD/CAD finds support, we are anticipating the dip to be completely retraced back up to 1.29 and possibly up to 1.31. This sideways consolidation appearsArticle source:...