Wave Analysis

EUR/USD Hits 23.6% Fibonacci Retracement Level of Wave 4
May 04, 2015 - 07:08
EUR/USD 4 hour The EUR/USD has reached a key resistance level of 23.6% Fibonacci level of wave 4 (green). Therefore it seems most probable that a retracement will occur for wave X (magenta). 1 hour The rising wedge chart pattern (light green and orange) broke and could be correcting lower with an ABC (light green) that completes wave W (dark green). GBP/USD 4 hour The GBP/USD has completed a wave W (grey) of perhaps an even bigger wave B (black) correction. 1 hour The first ABC zigzag (green) completed wave W (blue), which was indeed...
USD/JPY Bounces at Support and Builds Contracting Wedge
May 01, 2015 - 06:39
EUR/USD 4 hour The EUR/USD continued with its uptrend yesterday and pushed towards a resistance point (red line). Although further extensions can never be ruled out, it seems more probable that the wave W (magenta) has been completed. 1 hour The 1 hour chart has a slight rising wedge chart pattern when looking at the support (light green) and resistance (orange) trend lines. This reversal pattern is also occurring at resistance (red). GBP/USD 4 hour The GBP/USD is approaching support trend lines (blue). If price bounces at supports and...
EUR/USD Builds Bullish Momentum but Meets Potential Bearish Zigzag
April 30, 2015 - 07:00
EUR/USD 4 hour The EUR/USD uptrend could have completed an ABC zigzag (light green) yesterday. The zigzag might complete wave W (magenta) but for the moment the preference is given to wave WXY (orange). 1 hour The 1 hour chart had a break of the uptrend channel and saw a further acceleration of the bullish momentum with 5 waves within the C leg yesterday. The X vs W Fibonacci retracement levels could act as support and bounce spots. GBP/USD 4 hour The ABC (orange) zigzag could complete the wave Y (green) correction but that depends on...
EUR and GBP Extend Bullish Momentum but Meet Bears and News
April 29, 2015 - 08:35
EUR/USD 4 hour The EUR/USD uptrend continued yesterday and still has some potential space before reaching the previous top (red line). However, many news events are being released today such as the FOMC which could cause serious volatility. 1 hour The 1 hour chart shows a lot of momentum, which could be explained by a wave 3 (black) impulse. In that case the top of the wave 1 (purple line) is the invalidation level for wave 4 (black). GBP/USD 4 hour The GBP/USD has used the same broken top (red line) as a support level (turned to green...
EUR/USD and GBP/USD Continue with Strong Uptrend
April 28, 2015 - 07:26
EUR/USD 4 hour The EUR/USD is building on an uptrend and has potential space up towards Fibonacci target and resistance at 1.1040-60. 1 hour The 1 hour chart shows the bullish channel (blue) and intermediate support (green). The EUR/USD will most likely continue with this trend and head towards Fib targets. Key level is the bottom of wave Y (green) at 1.0820. GBP/USD 4 hour The GBP/USD has broken above the top and resistance (red line turned green) and the Cable remains solidly in uptrend. A pullback could occur but trend line support (...
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