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Can AUDJPY Break Lower While US Stocks Hits Resistance?

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July 06 2018

There was a nice spike higher on AUDJPY into first resistance level so wave C) can be coming to an end. However, second resistance at 82.70 is also still in focus while pair trades above 81.20. At the same time, I am looking at correlation with E-mini S&P500; and it looks quite nice, but now in corrective rise after that drop from June highs, so next strong leg can be lower.

Check video below for more details:



 

Oil Weakness Can Support USDCAD and USDNOK

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June 05 2018

Crude oil has turned down sharply from 73.00 area about we warned our readers already at the start of May when we spotted energy trading in fifth wave. We know that fifth wave is final leg of an impulsive structure, so normally when crowd becomes too optimistic and very bullish that’s when market is most likely to make a turning point. In fact, after that strong push up in the last 12 months we see a lot of analyst calling for 100USd, but these are the ones that were quite and no-where when crude was trading around $40 per barrel. That’s why Elliott Wave is so useful since you can be one step ahead of everyone.

So we see oil falling $8 from the highs, breaking the channel support line which is clearly evidence for an important bearish turn. Normally when five wave cycle is done price can retrace back to area of a former wave four, or even to termination which is near $60 per barrel. This is still 5% lower or so which means more damage can be done.

CRUDE OIL -daily chart


If you like trading FX, then with falling oil you may keep an eye on USDCAD which is now trying to break through the upper channel resistance line that can take pair much higher this year. USDNOK can also be in very similar bullish shape, especially if 8.4175 is broken.

Trade well,
GH

 
USDCAD and USDNOK -weekly charts



EW Cycles On Crude Oil After Iran News

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May 09 2018

Oil prices were very volatile yesterday after after US President Trump abandoned a nuclear deal with Iran and announced the "highest level" of sanctions against the OPEC member. We have seen a spike lower but the most important was then a daily close which was back in green. Technically this is very important bullish evidence so ti appears that more upside can be coming on oil, possibly within an ending diagonal while market is above 67.60. But despite bullish continuation there may not be a lot of opportunities to the upside at this stage as bigger EW cycles can be slowly coming to an end based on daily and four chart.





Elliott Wave Suggests Lower SP500 and Higher JPY

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Apr 20 2018

E-mini S&P500 is turning down from some interesting short-term Fib. levels. Will sell-off continue and JPY move higher?

GH



CryptoCurrency Technical Report, Issue 13

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Apr 17 2018

Traders, welcome to our new latest cryptocurrency report.

We have seen a deep pullbacks on crypto markets in the last few months. Some of them declined more than 80% from their 2017 highs, and hit some very interesting levels, so we are wondering if a new cylce is coming.

However, period of uncertainty can be coming so key to success will be to pick the right coins, identified by good wave structure. We did that on EOS two weeks back which gained more than 60% since we published it. CLICK HERE

CryptoCurrency EW report Issue 13 - CLICK HERE


Sign up to our email list here and get this report straight into your email box!!
Coverage:

Btc/Usd (Bitcoin)
Eth/Usd (Ethereum)
Dsh/Usd (Dash)
Bch/Usd (Bitcoin Cash)
Xxx/Usd (ALTcoins)  

Russia-US Tensions Plus Tehchnicals Can Cause Lower Stocks

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Apr 11 2018

Hi everyone!

10 year US note bounced from the lows in the last two weeks while stocks accelerated to the downside, ideally within wave C which may not be over yet based on recent developments which suggests that ounce from start of April is corrective. In fact, here is also a slow price structure at the moment on 10 year, above 120'10 that looks like a wave (B) of an ongoing 3-leg recovery up to 122'00. If that is correct then stocks may see more downside, into 2500 area on S&P500 where wave C would be equal to wave A in distance. Also tensions between US and Russia are definitely not supportive for stocks either.


10 Year US Notes vs S&P500, 2h




(Video) EURCAD On My watchlist

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Apr 09 2018

Hi everyone!

On Friday I posted a new video analysis, talked about EUR vs CAD based on recent developments on EURUSD, USDCAD, and Crude Oil. I came out with a conclusion that bounce can be seen on EURCAD which can be even impulsive so it can take us much higher in days ahead.

Enjoy the video.
GH
 


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