Wave Analysis

EUR/USD Starts New Trading Week with Wave X Correction
April 20, 2015 - 07:22
EUR/USD 4 hour The EUR/USD is most likely expanding its correction of wave Y (blue) with a wave WXY (magenta). 1 hour Price is moving up slowly and correctively within the trend channel (blue). GBP/USD 4 hour The GBP/USD rally could run out of steam if it completes wave W (green). 1 hour The GBP/USD is an uptrend channel (green lines) but an ABC correction could potentially take place as part of the wave X (green). USD/JPY 4 hour The USD/JPY is in a large consolidation and is correcting within a wave Y (green). 1 hour Price is...
US Dollar Continues to Weaken and Increases Chances of Major Correction
April 17, 2015 - 07:40
EUR/USD 4 hour The EUR/USD continued yesterday with its bullish bounce which could be part of an ABC correction (magenta) of a larger wave Y (blue) and wave 4 (light green). The failure for price to break below the bottom (green line) could indicate the potential for a bigger consolidation on the US Dollar. 1 hour Price action fits neatly within the uptrend channel (blue). A break above the channel is needed to confirm the wave 3 (green) of wave A (magenta). GBP/USD 4 hour The GBP/USD has rallied all the way back from the bottom (green...
US Dollar Bears Struggle to Keep Control and Downtrend Intact
April 16, 2015 - 09:28
EUR/USD 4 hour The EUR/USD is having a bullish bounce near the daily bottom (green horizontal line). 1 hour The bullish break above resistance (dotted red) is currently lacking momentum as price has only reached the 100% Fibonacci target. If price does not manage to move higher, then the 123 (green) will most likely turn out to be an ABC correction. GBP/USD 4 hour Price bounced back up at the 38.2% Fibonacci retracement level. 1 hour The GBP/USD could be building a zigzag (ABC magenta) formation within wave Y (green). USD/JPY 4 hour...
US Dollar Struggles with Resistance and Moves Quickly Lower
April 15, 2015 - 07:40
EUR/USD 4 hour Yesterday's bullish momentum could be an indication that the waves WXY (magenta) have completed the wave X (blue). 1 hour Price broke the resistance of the downtrend channel (dotted red) which could indicate a potential wave 1-2 (magenta). GBP/USD 4 hour Yesterday's bullish momentum could be an indication that the waves WXY (green) have completed the wave X (blue). 1 hour The GBP/USD used support to make a bounce up which for the moment seems to be only part of the bullish correction (green wave W). USD/JPY 4...
EUR/USD Approaches the Resistance within a Strong Downtrend Channel
April 14, 2015 - 08:07
EUR/USD 4 hour Whether the EUR/USD is back in the bigger downtrend or making a bigger correction as part of a wave 4 (green) remains to be seen and partially depends on how price will react to the previous bottom (green). 1 hour Wave C (orange) is marked as uncompleted but a break of the resistance trend line (orange) increases the chance of C being completed. GBP/USD 4 hour The wave X (blue) of the GBP/USD is invalid as soon as price breaks below the 138.2% level (X vs W). 1 hour Price action will show the most likely scenario of...
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