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Hello traders,

On the weekly chart of GBPAUD we see price declining sharply down from 2.08 high, after a very long but choppy upward movement that was in play for almost 4 years. Price is breaking below the lower corrective channel line which is evidence that further weakness may be seen, espeically as drop is unfolding impulsively. So when looking at a daily chart we expect to see a five wave drop, but that's not the case yet, so more weakness may come after short-term rally up in wave 4 that can stop at 1.846 or maybe even at 1.87/1.88 resistance area.

GBPAUD, weekly


GBPAUD, daily


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Hello traders,

Below you will find new video analysis, talking about  EURGBP, GBPUSD, SP500, AUDUSD and USDJPY
Grega



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Hello traders,

10 year US notes are progressing higher, but slowly above the triangle line, however you still have to be careful with stocks as fifth wave on 10 year can see much higher levels, which can cause risk-off. Also, not sure how much interest is there in the stock market at current prices, but I am sure that region around 2700/2800 is a lot more attractive.

Take care,

Grega

10 Year US notes, 4h


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Hello traders,

Markets are slow and did not change much recently so our view remains mostly the same. I think that resistance on stocks is not far away, but there is a chance that SP500 is going to make another leg up for a three wave advance in B. But the most important I believe, is to track the 10 year US notes; when triangle is finished here, confirmed by a broken trendline resistance and wave D swing high, that's when real risk-off can kick in.

10 Year US notes, 4h


If there is risk that equities can come down, then investors may look for safety in USD and metals. From an EW perspective, I think that metals are in an early stage of a new leg up when looking at gold and silver, where recent price action looks corrective; three leg down on gold to 1704, and also big three leg down on silver to 16.93.

GOLD 4h


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As you all know, the USD Index is bearish since mid-March when US stock market bottomed so investors are not looking for safe-havens at this time. But this may change now, if we consider that stocks recently moved into some technical resistance area with extreme positive sentiment, which already caused some new flows and drop in prices last week. At the same time we see USD Index testing very nice, potential support area at 96.50 where dollar may try to stabilize. Technically speaking, we see a three wave drop from March high, with a triangle in the middle labeled as wave B so current leg down must be wave C of a correction based on Elliott Wave rules and guidelines. If that's a correction then we know what follows next; a bullish reversal that can already be in early stages, but as always we want to see price moving into wave A zone, meaning move back above 98.50 that can be nice indication later that bulls are back. At the same time, it would be nice to see a five wave rally on a intraday chart, as this would make the bullish case even stronger. If price drops to lower levels, then watch out for 94.60 as next potential support.

USD index, daily

Elliott Waves- BTCUSD: Waiting On Pullback

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