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SP500 Broke 2018 Highs In Gold Price; Time For A Pullback?!


Aug 13 2021

Hello traders and investors!

Today we want to update our SP500 against GOLD , SPX / GOLD ratio chart, which we see it now breaking 2018 highs, clearly within an extended wave 5 of III, which means that we should be now aware of a pullback that can cause limited gains on SP500 , while GOLD may become supportive.

Notice that GOLD is currently trading at strong 2019 trendline support, which was resistance from March 2020 COVID crysis, so in case of bounce and recovery from that projected support, bulls would be still in control.

We also want to mention that SP500 can be finishing potential ending diagonal ( wedge ) pattern, while GOLD can be forming a big bullish triangle, now at the lower side of a range. However, more about this in our next article as the price action unfold.

SP500 Broke 2018 Highs In Gold Price; Time For A Pullback?! by ew-forecast on

Surfing the Waves August 03 2021 - Video Update


August 03 2021

Hey traders!

Below is new video analysis for GBPUSD, AUDUSD, CRUDE OIL, CADJPY AND SILVER, sponsored by

Surfing the Waves July 27 2021 - Video Update


July 27 2021

Hey traders!

Below is new video analysis for EURUSD, GBPUSD, CRUDE OIL, CADJPY AND USDMXN, sponsored by

Elliott Wave Analysis: GBPJPY Is Still Corrective Within Uptrend


July 22 2021

Hello traders!

We want to update and share GBPJPY chart, as we saw deeper and complex correction within wave (4).

As you can see, GBPJPY dropped in slow price action and overlapped wave structure, which usually indicate for a correction, ideally a complex one W-X-Y , especially if it's nicely connected within corrective channel range.

So, now that GBPJPY retraced back to the former "iv" and base channel resistance line, it may easily act as strong support for a higher degree wave (4) and 148.55 level, from where we can expect a reversal and bullish continuation for wave (5) back to 29018 highs, especially if breaks back above resistance line of a corrective channel.

Elliott Wave Analysis: GBPJPY Is Still Corrective Within Uptrend by ew-forecast on

Elliott Wave Video: BTCUSD, ETHUSD and DOGE


July 22 2021

Hello traders,

In a new video below I am looking at BTCUSD , ETHUSD and DOGE coins, especially after Elon Musk says that Tesla is most-likely going to resume accepting it. However, that's a long-term game that may not offer easy "short-term" bullish set-ups. There can be some room left to the downside for market to get rid of the "weak-hands"


Elliott Wave on DXY: Bulls Moving Into A Resistance


July 21 2021

Hello traders!

Hello traders,
We have seen a sharp drop on stocks recently, especially on Monday when investors moved to “safe-have” assets because of fast covid spread. However, moves have probably a lot to do also with inflation and tapering if you ask me. At the same time we see this a healthy, needed set-back before market may resume back to the upside; prices just trying to catch a breath here. What is interesting today is that stocks are trying to erase some of the losses from Monday, which BTW is very normal and common when you have sharp flows on Monday, I very rarely trust them. So now stocks are recovering, but USD index is also still trading higher as well. So what’s next?

Well, I think that regarding the price structure, the most important at the moment is the structure on DXY. Notice that index is coming impulsively higher from 89.50 May low with current price already seen in a fifth wave. In fact, fifth wave looks like a potential wedge that came out of a triangle with price now approaching May 93.43 resistance. Technically it’s a perfect combination for a potential turning point by the end of the month/early August.

Now the question is, on which market or FX pair we shall focus if DXY is really moving into a strong resistance? My answer is USDMXN after The Bank of Mexico raised retest back in June. Technically price is also approaching a triangle resistance now. For full analysis click here

What about stocks? Well, they can be even more attractive and bullish if DXY will come lower, even if just temporary for a correction.

Trade well,


Elliott Wave Analysis: USDMXN Is Forming A Bearish Triangle


July 14 2021

Hello traders!

We want to share a chart with interesting and known pattern called triangle on USDMXN currency pair.

As you can see, USDMXN is trading sideways since the beginning of 2021. With slow price action and corrective sideways wave structure, we believe it's just a correction within downtrend, ideally a bearish triangle formation within a higher degree wave (IV) that can send the price even lower within wave (V).

Triangles are continuation patterns which consist of five waves A-B-C-D-E and seems like the final wave E can be now in progress, so watch out for a drop back to lows towards 18.x area soon.

It’s also worth to mention that three weeks back the central bank of Mexico (Banxico) hiked the benchmark interest rate by 25 basis points to 4.25%. This seems to be very bullish for MXN across the board and it may last until other banks will start increasing the rates as well. However, a lot of CB seem to be waiting on the FED first. Today, Powell will definitely talk about inflation , but recent retracement on some of the commodities , like Lumber, may give more time to the FED, so they can wait with aggressive taper- talk, possibly till September or maybe even end of the year. Under that situation dollar may face limited upside.

Elliott Wave Analysis: USDMXN Is Forming A Bearish Triangle by ew-forecast on

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