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Bitcoin is becoming very interesting after that clear five-wave rally from 3100 lows into a wave A/1 and clear three-wave a-b-c corrective structure in wave B/2, which leads into a nice inverted H&S pattern, so we could have a perfect bullish setup and a potential rally for wave C/3. Just keep in mind that bulls can be confirmed only above 4100 region. Invalidation level remains at 3100.
We have seen a lot of periods when stocks and Cryptos were trading together. Question is, if BITCOIN is lagging and if NASDAQ suggests higher prices for Cryptos too. We see stocks turning up impulsively, so higher Crypto should not be surprise. Stock market rally, specifically NASDAQ100 could easily lift Bitcoin and friends higher since we see a tight correlation between stock and Crypto market.

BTCUSD and BTCUSD vs Nasdaq, 4h


 

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Some commodity currencies have been very bearish towards the end of 2018 and at the start of the January when Aussie fell beneath 2016 lows before it turned up. AUD has been one of the worst performers last year, but even this “weak” currency, so to speak, is showing evidence of a low after that spike down to 0.6700 area. Notice that pair might have accomplished a five wave decline down from last year high so a reversal higher can be in the cards now for a three leg rally back to 0.7400-0.7450 area.

AUDUSD Daily

Well, my attention at the moment is not on AUDUSD, but rather on currency that was relatively stable and doing well recently. It’s NZDUSD, which in fact has made five waves up from October 2018 low; that’s a very strong bounce that indicates more upside after pullbacks. Well, we have seen a nice pullback down to 0.6600 area where 61.8-78.6% Fibonacci levels already caused some buying, but much more upside can be in the cards if we consider that wave C) has room for a push up to 0.7140 based on equal leg projection. That been said, my idea is to watch the short-term set-backs here and trying to catch the move higher.

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Grega
https://twitter.com/GregaHorvatFX


NZDUSD Daily

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Hello traders!
After some time, I have decided to share some free updates and analysis with you as I think this one can be very interesting based on clear pattern. I am looking at AUDUSD this week which has a nice and clear five wave drop from 0.7393 levels. Notice that this fall also took out the trendline connected from 0.7023 level which is an evidence of a completed corrective bounce from October low. As such, I am interested in trades on the short side of the pair, especially after intraday rally back to 0.7300 area which can be seen as wave 2) that may stop at that broken trendline. Even if that’s going to be wave B with limited upside, there is still room for a move lower to around 0.7100.

What is also very interesting when it comes to Aussie, is that this one is trading south despite strong Gold which is higher in a fifth wave, so now imagine what may happen to AUD if Gold suddenly finds a top and completes current uptrend. I think that in such case AUDUSD pair may fall very hard. On metal I am looking at 1250-1257 as potential resistance for current five wave cycle up from 1211.

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