Tag: forex analitics

Technical Analysis Based on Breakout – Long towards 1.3138

EURUSD – Up Technical Observation: Eurusd has been oversold for sometimes now but is still above the weekly support line 1.1698. I’m patiently waiting for a buy signal above this support, but is the price can descend below it, then I expect a further d…

Technical Analysis Based on Breakout – Remain long towards 1.3665

GBPUSD – Flat Technical Observation: Recently, Gbp bounced off from the daily support line 1.3138, and is still above it. This is a bullish dominance and signals that the bulls are in complete control. Unless the price clearly breaks below the support…

Elliott waves for Forex correlation analysis – Bulls dominating

GBPUSD – Flat

Bulls dominating

Wave analysis

As previously predicted, the inner impulsive wave (1) of the outer impulsive wave (E) extended massively towards the daily resistance zone 1.3428 – 1.3477.We expect this inner impulsive wave (1) to extend further upwards towards this resistance zone. This upward price rally should push the impulsive wave (E) up to 1.4740. Look for a long position with your first target at 1.3428. If you are reluctant, wait for a break above the daily resistance zone to buy this pair towards 1.4740. A break above this daily resistance zone is a good indication that this impulsive wave (c) could extended further upwards towards our target 1.4740. Trade this pair alongside AUDUSD, NZDUSD, GBPAUD and GBPNZD. These pairs have a strong positive correlation and they will in the same direction in this intraday.

Trade recommendation

We are still long towards 1.3470.

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Elliott waves for Forex correlation analysis – Short

USDJPY – Down Wave analysis In the previous intraday, bulls pushed price above the channel which the USDJPY has been trading within but bears showed up and pushed it back within this channel. This pair is still bearish and we expect the bears to push t…

Elliott waves for Forex correlation analysis – Bears coming soon

EURUSD – Up Wave analysis The EUR has been and is still pulling back towards the daily resistance level at 1.1873.This pull back should not go beyond this daily resistance since the expected bearish move could be invalidated. We expect bears to come ba…

Elliott waves for Forex correlation analysis – We are still long towards 1.3470.

GBPUSD – Flat

We are still long towards 1.3470.

Wave analysis

In the previous intraday, the cable pulled back but is still above the previous support at 1.3061. This pull back is expected to be a mere correction of the inner impulsive wave (1) of the outer impulsive wave (E) and should not go beyond 1.3061. After this correction, the inner impulsive wave (1) is expected to extend upwards towards the daily resistance zone 1.3124 – 1.3477. This upward rally is expected to push the impulsive wave (E) towards 1.4740. You could take a long position with your first target at 1.3478 or if you are hesitant, wait for a break above the daily resistance zone 1.3124 – 1.3477 and long this pair towards 1.4740. Trade this pair alongside AUDUSD, NZDUSD, GBPAUD and GBPNZD. These pairs have a strong positive correlation and should move in the same direction.

Trade recommendation.

We are still long towards 1.3470.

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Elliott waves for Forex correlation analysis – We’re short

USDJPY – Down Wave Analysis Ninja has been trading within a channel for months. In the previous intraday, this pair faced a rejection from the upper trend line of this channel. We expect this rejection to have marked the end of the corrective wave (D) …