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Both AUDUSD and Hang Seng Turning Bearish – Elliott wave analysis


Nov 29 2019
Good morning traders,

AUDUSD made a five-wave move to the downside from 0.693 area where a former corrective wave b found a top. This drop in five waves, and the break below the trendline connected from 0.667 low is now a suggestion that the trend is turning bearish, and that further downside may be seen, especially once the corrective wave ii) with its three legs fully shows up. That said, at the moment we are tracking final stages of a minor Elliott wave ending diagonal within a fifth wave in leg i), which can once completed push price into a sharp corrective a-b-c recovery; potential resistance for the wave ii) can be near the 0.684 region.


Hang Seng Index and Aussie are in a positive correlation, meaning if one goes lower, the other one will follow.

On the daily chart of Hang Seng Index, we see a clear, completed corrective pattern from August 2019 lows, which is now being followed by a sharp decline that can unfold in five waves. Also keep a closer look at the lower trendline, which is connected from August lows; once it gets breached, that is when further downside may be seen, not only on Hang Seng, but also on aussie.

HIS, Daily

Below we also shared a VIDEO analysis where Grega gives further outlook on the market.

Trade well,

The EW-Forecast team

Elliott Wave Analysis: Walmart Ready To Top?


Nov 27 2019

Hello traders and investors. In this article we want to warn you about the potential top formation on Walmart.

We are tracking many markets across the globe such as bonds, treasuries, FX, Commodities, Indicies, single Stocks and even cryptocurrencies. So, we try to understand how they are moving and how they are correlated. Many markets are currently trading at the key levels, especially stock market for example, such as S&P500, which (despite current rise) may see limited upside and potential resistance soon that can lead into a correction. In such cases we are always scanning single stocks and try to find some interesting and similar developments that can give us even more evidences and confidence about the outlook.

Well, at this point we found very nice and clear patterns on Walmart. What is interesting, is that no matter which time frame you are looking at, we see EW pattern in late stages of a current rise based on two different counts.

On the first count we are looking at the ending diagonal, currently with three sub-waves up in V, so resistance can be important here around upper red trendline.


Another, different view, which also suggests limited upside is on the weekly chart, that show possible five wave rise, now with fifth wave out of a triangle. So again, upside can be limited since we know that moves out of a triangle are final in a higher degree trend. That been said, we would not be surprised by a pullback, if not an impulsive turn.


Elliott Wave Video; AUDUSD, 10 year and Gold


Nov 25 2019

IN our past updates we have been talking about bullish reversal on 10 year US notes, which is now confirmed because of five waves up from November low. At the same time, we think that Gold may find some buyers. In video below I will also talk about AUDUSD and HSI.


Will US Treasuries Turn Back To Bullish Mode?


Nov 15 2019
If you are following me on twitter or here on our website for some video updates, then you will know that I have been bearish for the last few weeks on a 10 year US notes when identified a reversal down for wave C that was pointing back to September low. I have been waiting on this level before I may again consider a reversal in price. Well, this is exactly what is happening now; we see a very nice move higher so far; away from C=A equality level with current rise eyeing that falling trendline from October higher. If this one is broken, then we think that change in trend would be confirmed, which means more upside will happen and eventually this could be a major game changer for equties and yen crosses as well. At the same time, gold may attract more buyers.

Trade well,

Will Gold Find A Support at 1440/1450? VIDEO


Nov 08 2019

Gold is turning down this week as USDCNH declines and stocks rises. But what we see is some interesting developments on stocks and 10 year US notes which may actually suggest that bears on gold can stop at 1440/50 area. Of course next week will be very important, but it can be interesting for possible trades if gold suddenly finds a support and recovers in five waves.

For more info about my view please check the video below.

Trade well,


Crude And S&P500 Moving Into Resistance?


Oct 30 2019
As you may already know, stocks, specifically S&P500 and Crude oil are in positive correlation, maybe not always the perfect one, but cycles are there very similar, only the price move or extensions are sometimes different like now in 2019 per example, as shown on the chart below. What is very important at the moment when looking at this price correlation, is that Crude oil is much weaker than S&P500 that can be also seen in the OIL/SPX ratio chart, which is clearly bearish now down for wave five of C.

Well, looking at the current S&P500 wave count, we are observing a big ending diagonal so resistance can be seen at all-time highs, with limited upside at the upper ending diagonal line for wave 3. If that woudl be the case then we can expect a drop on oil as well, if we cosndier that energy is already much weaker now. From an EW perspective a drop may follow down from a triangle.

Ideal scenario would be something like we have seen last year, when both, stocks and Crude oil sharply fell at the end of the 2018.

Trade well,

EWF Team

BTCUSD Turns Up From The Supports. Is Breakout Here?


Oct 28 2019

BTC Moved from interesting support levels, so is trend changing?

Check the video analysis for an update

If you want to check all of our charts you can apply for a HALLOWEEN SALE; -50%. CLICK HERE

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