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Bearish Reversal For EURUSD

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June 15 2017

EURUSD touched a new high yesterday ahead of FOMC press conference but then it turned sharply lower from 1.1300 area that we highlighted it as an important resistance a few times in our past updates. Notice that fall again came from that 1.1300 »Trump level«; a spike from November when Trump won US presidency.

An updated count shows an ending diagonal on 4h chart; a powerful reversal pattern that can cause a strong drop in the rest of the month. So technically speaking, it appears that euro can see deeper levels now, especially if we consider that three waves down minimum should be seen. From a trading perspective, I will pay attention to that red broken trendline that may turn into a nice resistance on a pullback, after wave 2)/B).

I have also posted this chart on twitter yesterday, so make sure to follow me at https://twitter.com/gregahorvatfx

Trade well,
Grega
 



USDCAD On The Move: Video Analysis!

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June 13 2017

At the start of the month I paid attention to USDCAD and highlighted a bearish pattern. 10 days later pair is trading much lower.
I invite you to see our latest video update on that pair, plus USD Index and NZDJPY

Grega




EW Video Update: EURUSD, GBPUSD and USD Index

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June 09 2017

At the start of the week we have been talking about USD index and EURUSD, and also a lot about cable on twitter. In my latest video I will give you my updates on these three markets.

Have a good weekend,
Grega




EURUSD Video Analysis

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June 06 2017

We have recorded a new video analysis for EURUSD and compare it with 10 year US notes and yields.




E-Mini S&P500 Ahead Of NFP

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June 02 2017

S&P500 is trading at all time highs with some sharp price move up from 2403 that we see it as fifth wave rally; final part of a five wave recovery from 2345, called an impulse wave*. There are some Fibonacci levels around 2440 that may play out an important roll for the next few sessions, as we think that upside can be limited and that new corrective set-back can be coming at the start of June. However, extended fifth waves are very common on stock markets, so do not chase it and call a top until you see a five wave drop from the high.

__________
*Impulse wave is structured by five subwaves in the direction of a stronger trend. The picture below shows a five wave move to the upside, meaning that price is in uptrend. When five move is complete you can expect a three wave set-back.


wave 1 must be an impulse or a leading diagonal
wave 2 can be any corrective pattern except a triangle
wave 2 must not retrace more than 100% of wave 1
wave 3 must be an Impulse
wave 3 must be longer than wave 2
wave 4 can be any corrective pattern (zig-zag, double or triple zig-zag, triangle, flat, double or triple three)
wave 4 should never trade into a territory of a wave 1
wave 5 must be an impulse or an ending diagonal
wave 3 should never be the shortest wave when compared to waves 1 and 5

 

BTCUSD In A Pullback

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May 30 2017

Good day to everyone,

We posted a few updates last week for Bitcoin and highlighted a reversal to lower levels. So far there was a nice deep pullback which we firstly thought it may come to an end soon, but after reviewing daily and intraday structure, we think that there can be more weakness or at least sideways price action within current environment. We see wave four which based on time compared to wave 2 may not be over yet. Also bounce on intraday chart from 1840 did not convince me so be careful with this ongoing "bubble". But after all.. what is a market bubble? For me it's something that has to do with "crowd psychology". But if everyone things its a "bubble" then this bubble may not be over yet. Markets normally breaks when its least expected...
Grega




VIDEO ANALYSIS: Crude Oil

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May 30 2017

Last week we have seen some interesting price movements on crude oil. I covered this market few times on twitter feed and highlighted an interesting reversal pattern before price fell sharply from 52.00 levels down to 48.30 low. It was a strong move, so traders are wondering if they should trust current weakness or is that a new set-back that can potential take price higher in June. To answer some of these questions I put a new video together for oil. See it below.

Grega



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