Wave Analysis

Bullish Zigzag EUR/USD has Space till 1.17 Confluence
May 11, 2015 - 08:28
​EUR/USD 4 hour The EUR/USD bullish impulse translated into multiple wave 3's, which is likely part of a bigger ABC zigzag as part of wave W (magenta). 1 hour EUR/USD completed an ABC zigzag correction (purple) but is correcting deeper with a double correction (WXY orange). GBP/USD 4 hour The GBP/USD has bullish momentum (wave 3 magenta) but also a heavy resistance level (red) ahead. A break above it could see price head towards the Fibonacci targets of wave Y (grey) of wave B (black). 1 hour The wave 4 (orange) bounced at the 50%...
GBP/USD Rallies Sharply while EUR/USD Waits for Bounce
May 08, 2015 - 08:03
​EUR/USD 4 hour The EUR/USD had a lot of momentum which is most likely a wave 3 (orange) and the most recent divergence (purple line) indicates a completion of wave 5 (orange) of a bigger wave A (green). The wave B (green) Fibonacci retracement levels are potential bouncing spots. 1 hour Price could make an ABC (orange) zigzag correction within wave B (green). GBP/USD 4 hour The GBP/USD bounced strongly at the 50% Fibonacci of wave X (grey) and is headed towards the wave Y (grey) and wave B (black) targets with one major resistance...
Euro Bullishness Breaks Resistance & has Major Targets in View
May 07, 2015 - 07:21
EUR/USD 4 hour The break above the top and 23.6% Fibonacci retracement level means the completion of the wave X (magenta) and the continuation of the wave Y (magenta). Eventually price could reach the 38.2% Fib (long-term target). 1 hour The intermediate targets are closer by and show 1.1420 as a point of Fibonacci confluence, followed by 1.15 and 1.1585-1.16. The invalidation level of wave 4 (green) is the top of wave 1 (green). GBP/USD 4 hour The GBP/USD could have completed the wave X (grey) at the 50% Fibonacci. 1 hour At the...
EUR/USD Approaching Important 1.1250 Bounce or Break Spot
May 06, 2015 - 07:11
EUR/USD 4 hour Price stopped and retraced at the 23.6% Fibonacci retracement of wave 4 (green) but the EUR/USD is already challenging the top again, which is a bounce or break spot. 1 hour The wave count is expecting a bounce back down at resistance (red) as part of a bigger wave X (magenta) correction. GBP/USD 4 hour The GBP/USD is in a triangle chart pattern which is indicated by the support (purple) and resistance (orange) trend lines. 1 hour Price stopped at the 38.2% Fibonacci level of wave B (green) but could retrace deeper...
GBP/USD Approaching 50% Fibonacci Support in Bullish Trend
May 05, 2015 - 06:32
EUR/USD 4 hour The resistance at the 23.6% Fibonacci level of wave 4 (green) was not broken yesterday and price is retracing lower from that area, which is probably part of the wave X (magenta). 1 hour The support trend line (green) is the neck line of a head and shoulders reversal pattern, which would start a bearish correction of wave Y (green). GBP/USD 4 hour The GBP/USD is probably retracing downwards as part of a wave X (grey). 1 hour An ABC zigzag (green) could still be taking place as part of the wave Y (blue). USD/JPY 4 hour...
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