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Coronavirus in South America Can Send MXN Lower

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Feb 26 2020
 
USDMXN is making a corrective set-back after five waves up completed a wave A) near 19.26 from where we saw one leg of a pullback so far. But we know that pullbacks are made by three waves, so we can assume that higher degree wave B) is still in play and may actually fill the gap around 18.88 which at the same time can be nice support for a new turn up. Corona-virus had also been found in south America, meaning it may not be far away from Mexico so any bad news about corona-virus spread may easily cause more damage to MXN which is already anticipate by a technical outlook.

usdmxn, daily + 4h


Trade well,

The EW-Forecast team


 

Will Coronavirus Cause More Damage To EURUSD?

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Feb 24 2020
 
Coronavirus is spreading in Europe, now in Italy which is closing cities and cancelling any public events. We see supermarket running out of foods, so there is serious fear which is impacting the stock market prices. We see negative impact now on US stocks as well, so both DAX and SP500 are in a correction that can reach lower prices after any short-term rise. I do not see any immediate and good solution to coronavirus; in fact this can cause companies to close for a temporary time, which will impact the euro economy, so I think the euro can stay in downtrend, and any rally can be short-lived. The 1.0865-1.0880 seems to be like an interesting technical resistance area; ideally for a completion of a forth wave.

EURUSD, 4h


Trade well,

The EW-Forecast team


 

Stocks Can See A Pullback Before Resuming Higher

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Feb 14 2020

In this video analysis I covered some interesting markets with clear patterns and interesting levels, that might be indicating a pullback on stocks.
 
Put/Call ratio, EEM (Emerging markets) and S&P500 charts can be showing that stocks are trading at the extreme levels, based on Elliott Wave perspective. If temporary risk-off is really about to show up, we can expected a continuation down on CAD/JPY, since we know that in risk-off, JPY is a safe-heaven. I will also look at USDCNH and what lower CNH can means for the AUD.



Be humble and trade smart!

The EW-Forecast team.

EW Analysis: Bitcoin Can Be Bullish

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Feb 04 2020

Hello traders.
Today we will talk about Bitcoin from the Elliott Wave perspective.

After that strong and impulsive rise in the first half of 2019, BTCUSD has slowed down in the second part of 2019, but clearly with slow and complex W-X-Y corrective structure that can be also finished with an ending diagonal ( wedge pattern) in wave Y, which is actually a powerful pattern and it usually indicates a sharp and impulsive reversal.
Not only this, we actually got a five-wave bullish reversal, which in Elliott Wave theory signalizes a potential bottom at 6400 level, at least a temporary one. But, after every five waves, a three-wave a-b-c pullback follows, ideally into a higher degree wave B/2. So, before a continuation higher within wave C/3, we should be aware of a slow down into a correction, where ideal support would be between 8200 - 7700 levels.

All that being said, we believe that Crypto market is turning bullish, mostly because of strong and impulsive five-wave rally from the previous lows. Even some ALTcoins made a clear five-wave rise, so those Cryptos can easily see more upside, just be aware of a deeper three-wave a-b-c corrective decline soon before the uptrend resumes.

Be humble and trade smart!
If you like what we do, then visit us at www.ew-forecast.com, and apply for a 7-day trial.


BTCUSD, 4h



Trade well,

The EW-Forecast team.



SP500 Index Is Turning Into A Deeper Correction

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Jan 28 2020

Good day traders,

S&P500 started dropping from the 3340 level, where sub-wave 5) of a higher degree wave 3 had found a top. This drop can now represent part of a three-wave corrective move into a wave 4, which can look for support/bullish turn near the 3181/3070 region. That being said, a breach below the lower Elliott wave channel line will confirm a wave 4 correction to be underway.

If you want to be on track with our analysis and outlook in the future, make sure to consider a 7-Day trial at ew-forecast.com.

S&P500, 4h



Trade well,

The EW-Forecast team.



Is Bitcoin Breaking Higher?

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Jan 22 2020

Good evening traders,

Bitcoin topped in December of 2017, then bottomed again in December of 2018 and this was a bigger higher degree corrective decline in 2018, mainly because of a triangle in the middle. Then, in the beginning of 2019 we have seen strong push to the upside, clearly with five waves, which is actually a signal for the bullish trend. Later, in the second half of 2019 Bitcoin fell once again, but as you can see in very slow and overlapped manner, so corrective wave structure that lasted for 6 months, and again it bottom, you wont believe it, again in !!December!!! of 2019. And now, at the beginning of 2020, we can see quite impulsive and significant recovery, which was expected based on many evidences like a bullish divergence in the RSI and MACD indicators or a corrective decline into the strong support area of the previous triangle pivot from 2018, plus a base channel line from 2019. All that being said, we assume that Crypto market, specifically Bitcoin can be turning bullish again, especially if we see a decisive break above resistance line of a corrective channel. But in any trend there are pullbacks and a lot of tricky price actions in the middle. So if you want to be on track with our analysis and outlook in the future, make sure to consider a 7-Day trial at ew-forecast.com.

Trade well,

The EW-Forecast team.

BTCUSD Daily



Are Gold And Aussie Headed Lower?

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Jan 20 2020

Good morning traders,

In the last few days we have seen a very nice reversal lower on both audusd and gold, so we are wondering if correlation is back in place. At the same time, we have seen USD index recovering with more upside potential which could actually cause more damage to GOLD and AUDUSD prices. We see both of the markets moving into some interesting resistance levels, so I would not be surprise to see a reversal lower in upcoming days.

For more details, watch the video below.


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