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Elliott Wave Analysis: ZOOM Could Become Attractive Again

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Aug 26 2021

Hello traders and investors!

Today we will talk about single stock ZOOM, in which we see pretty nice and clean pattern.

As you can see, ZOOM made quite big decline since October 2020 till May 2021, lost more than 50%, but it looks like a three-wave a-b-c correction within a higher degree wave 4, especially if we consider recent strong and impulsive bounce from the projected support zone , which confirms a completed correction within uptrend that can send the price back to highs for wave 5.

Furthermore, we can currently see a nice three-wave (a)-(b)-(c) setback of a lower degree which may belong to a subwave "ii" of a higher degree wave 5. So, if ZOOM manages to recovery back above 400 region once again, then we can easily expect a bullish continuation back to highs, probably within a new five-wave cycle for wave 5.

What is also important to mention is that holidays nearing the end, so schools and everything else start in September which means that there will definitely be more demand for ZOOM.

In case if the price stay slow and sideways, we can also consider a bigger bullish triangle pattern , so bigger and longer consolidation within that higher degree wave 4 correction before we will see a continuation higher.
 

Elliott Wave Analysis: ZOOM Could Become Attractive Again by ew-forecast on TradingView.com



Elliott Wave Analysis And Correlation Between OIL and CADJPY

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Aug 25 2021

Hello traders!

Today we will talk about Crude oil and its positive correlation with CADJPY currency pair.

As you can see, Crude oil and CADJPY are in tight positive correlation and both made a complex W-X-Y corrective decline from the highs with nice and strong support from April/May.

The main reason why they are correlated is because Canada has one of the largest OIL reserves, that's why CAD is strong when OIL is up. If we also consider risk-on sentiment, where OIL is bullish and JP yen currency bearish , then we get that result.

Well, respecting the price action and wave structures, with current strong and impulsive rebound, it looks like a correction within uptrend can be completed and we can expect further rally at least in three waves, so more upside can be seen after a short-term pullback, maybe even back to highs.
 

Elliott Wave Analysis And Correlation Between OIL and CADJPY by ew-forecast on TradingView.com



Surfing the Waves August 24 2021 - Video Update

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August 24 2021

Hey traders!

Below is new video analysis for EURUSD, AUDUSD, GOLD, OIL AND NZDJPY, sponsored by Orbex.com
 



QE Tapering Delay Can Support Gold

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Aug 23 2021

Fed's Kaplan noted that they are watching Delta variant, and says he may need to adjust view regarding tapering. This is very important for speculators who were recently betting on the USD as this can limit the USD strenght if it proves correct.

In such situation traders may turn back to gold where price recovered back to $1800 and even erased all of the losses after the crash from a two weeks back. Rally, in fact, is in five waves which is very bullish for metal. At the same time, we are looking at the TLT as confirmation regarding lower US yeilds/higher notes, while DXY can be trading at resistance of a three wave rally up from January.

Take care,

Grega



BTC Stops At Resistance As US Stocks Drop - Elliott Wave Analysis

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Aug 19 2021

Hello traders!

Stocks are coming down, and if they will start accelerating then I think this can have a very bearish impact on cryptocurrency as well.

"It's hard to hold an investment on very speculative and volatile coins if you are already panicking with much more "stable" investments."

So at this stage and with this structure it's very hard for me to look for buying opportunities. I rather wait on lower prices and buy later if drop shows up.

Unless you are a long-term investor and you do not care about current intraday noise.
 

BTC Stops At Resistance As US Stocks Drop-Elliott Wave by ew-forecast on TradingView.com



Elliott Wave Analysis: US Dollar Nearing March Highs Resistance

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Aug 18 2021

Hello traders!

Today we will talk about DXY- US dollar Index , which we see it finishing five-wave cycle and approaching strong March highs resistance zone .

Well, USD IS still strong, but it's now moving into some late stages of a higher degree structure. We are also in the mid of the week when flows can change, especially when you have the FED minutes. Keep in mind that there were some bad US data lately which means that again FED may wait with tapering for longer than we think. However, inflation is still a real concern which is visible also through latest move on GOLD that is again on the rise despite big short orders last week, so looks like speculators are using metal as a hedge against and this moves can extend further to the upside.

From an Elliott Wave perspective we see USD trading higher ahead of FED minutes but DXY can be running into late stages of a higher degree structures; move that is still expected to pass 93.20 and 93. 40 to complete the pattern with five waves up, so resistance may not be far away, maybe already around 94 area.
 

Elliott Wave Analysis: US Dollar Nearing March Highs Resistance by ew-forecast on TradingView.com



Surfing the Waves August 17 2021 - Video Update

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August 17 2021

Hey traders!

Below is new video analysis for EURUSD, AUDUSD, GOLD, SP500 AND USDMXN, sponsored by Orbex.com
 



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