Wave Analysis

Triangle Chart Patterns Dominate on Major Currency Pairs
May 18, 2015 - 06:39
EUR/USD 4 hour The EUR/USD could be building a rising wedge chart pattern when looking at the angle of the resistance and support trend lines. 1 hour The EUR/USD is running into a zone with heavy resistance such as the trend line (orange), round 1.15 level and Fibonacci numbers. GBP/USD 4 hour The GBP/USD is in a strong uptrend with many layers of support below it but the wave count indicates that the current wave A (blue) could be completed. 1 hour The GBP/USD could be building a contracting wedge chart pattern when looking at the...
EUR/USD Bearish Candlestick Pattern Signals Early Reversal
May 15, 2015 - 09:20
EUR/USD 4 hour The EUR/USD pushed one more time higher yesterday but could have completed the wave 5 (orange) when looking at the engulfing candle stick pattern (magenta circle) and resistance nearby (red). The 4 hour support (green) could still be an important level to reckon with for any bearish potential. 1 hour A bearish break could see price move to the Fibonacci retracement levels of wave B (green). A bullish continuation could see price move to a higher Fibonacci target. GBP/USD 4 hour The GBP/USD still keeps pushing higher as...
EUR/USD and GBP/USD Encounter Heavy Layers of Sturdy Resistance
May 14, 2015 - 08:28
EUR/USD 4 hour The EUR/USD closed with a strong 4 hour bullish momentum bar/candle but a confluence of resistance is nearby such as the red and brown horizontal levels, the 138.2% Fib, and the 1.15 round number. 1 hour The EUR/USD broke the resistance trend line (orange dotted) and made a bullish move up to the top (red line), which is a break (for waves 4&5) or bounce spot (wave C is completed). GBP/USD 4 hour The GBP/USD remains in the 5th wave (green) of wave A (blue) but reached the 1.5750 resistance zone. A push above the...
GBP/USD Expands Channel and USD/JPY in Final Wave E
May 13, 2015 - 08:33
EUR/USD 4 hour The EUR/USD is approaching a bullish break or bearish bounce spot at the resistance trend line (purple). 1 hour The EUR/USD upside momentum proved to have bigger candles than the downside momentum after it which is why the count has been labeled wave A (orange) and wave B (orange). A break of the purple trend line could indicate the potential for price to reach C vs A targets, whereas a break of the green trend line could indicate the potential to reach wave B retracements. GBP/USD 4 hour The GBP/USD pushed up one more...
EUR/USD Intra-day Bearish Zigzag at Resistance Fibs
May 12, 2015 - 08:40
EUR/USD 4 hour The EUR/USD is retracing lower as part of a wave B (green) but any of the Fibonacci retracement levels could be bouncing boards for a renewed upside to complete wave C (green). 1 hour The EUR/USD broke above a short-term resistance line (dotted orange) but might struggle with moving higher due a potential bearish ABC zigzag pattern (purple) that could occur during today's trading day. GBP/USD 4 hour The GBP/USD has broken above the horizontal resistance (dashed red) but could stall with the uptrend due to the major 38...
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