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Crude Oil: Bearish For $82.50


Dec 11 2012

We suspect that oil prices will make a new low in this week, after only three waves of recovery from 84.00 to 90 area. Market also made a sharp bearish reversal towards the support channel line which supports the idea that recovery was corrective and that wave B) is finished. As such, traders should be aware of a wave C) extensions down to 82.50 area in coming days. However, this wave C) is part of wave (E) which is final leg of a wave B triangle, so after that new low we will keep an eye on evidences of a bullish price action.

EURUSD: Larger Trend Is Up


Dec 09 2012

Decline from 1.3170 down to 1.2660 is a three wave move. A three wave patterns are corrective waves, part of a larger trend which is clearly bullish from 1.2030. Therefore we believe that EURUSD will continue higher, ideally into wave (C) five wave rally after 1.3170 break which we think it will happen in the next few weeks while 1.2660 holds. If we are correct, then reversal seen last week from above 1.31 is only wave 2) pull-back.

If from any reason 1.2660 would be breached then wave (B) would become even more complex than firstly thought, but still as a part of an uptrend.

EURUSD: Pair May Extent To 1.3100


Nov 30 2012

EURUSD reversed lower from 1.3000 psychological at the start of the week and then perfectly reversed higher again from base channel that became a support. That was ideal scenario for a current push higher into a wave (v) which may still rise towards 1.3090 while 1.2945 holds. However, keep in mind that five wave rally in wave 3 could be near completion and that we will probably be tracking a larger three waves of a pull-back next week.

Where Are Markets Headed Next?


Nov 24 2012

Despite a low volume on a holiday-shortened session the US stock markets rallied sharply on Black Friday and closed in green more than 1%. The USD moved sharply to the downside and it seems that this is just a start of something bigger. The interesting is that reversal in USD trend from bullish to bearish mode has already been expected on November 16th when USD Index completed its ending diagonal pattern at 81.46.

What is ending diagonal?

We spotted this pattern on USD Index and EURUSD and immediately prepared our clients on scenarios for USD weakness.

USD Index 4h

But pattern on USD index was not the only one that was pointing for trend reversal in global markets. In fact two weeks back Gold already made five waves up from the lows, while the S&P500 was at interesting support around 1340. And when we saw a reaction higher on S&P500 from that level we were even more confident that USD will fall. And here we are today, EURUSD close to 1.3000, Gold at 1750 and S&P500 above 1400.

If you want to see big picture for these market please check our video from Nov 13th. You will find out where we think the markets are headed next.

USDCAD: Top In Place At 1.0056


Nov 21 2012

USDCAD extended lower in this week after Fridays high, and now showing even more signs that top is in place at 1.0056. In fact, intra-day decline from the high is looking impulsive, sharp move in the short period of time that indicates a change in trend for a minimum three wave fall. If we are correct, then current minor recovery represents temporary pull-back that must not move above 1.0056 invalidation level.


GOLD Is Bullish For 1740 While Above 1672


Nov 17 2012

Gold moved lower yesterday and tested 1698-1708 area that we highlighted several times this week. We still think that decline from 1738 is corrective wave 2, which means that traders should be aware of a break higher, while market trades above 1672 invalidation level. The fact is that recovery from 1672 can be counted impulsively and we know that impulses show direction of a larger trend or indicate cahnge in trend. In the very short-term we expect another test of 1700 before wave 2 completes.

EURUSD: Final Stages Of Downtrend!?


Nov 13 2012

EURUSD could be in final stages of a five wave decline in wave C) from 1.3140, that represents part of a corrective wave (B) started back in September. Wave C) is still not showing any sings of a bottom, but based on MACD reading we see that bearish momentum is decreasing, so low could be near. We however expect test of a new low, around 1.2650.

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