Wave Analysis

Trend Channels and Key Levels Dominate the Major Currency Pairs
April 13, 2015 - 07:52
EUR/USD 4 hour The EUR/USD is in a downtrend channel which is indicated by the orange trend lines. Price however is approaching the previous bottom (green line). 1 hour Price has reached the 161.8% Fibonacci target but could fall further especially if it stays below the resistance (orange). GBP/USD 4 hour The GBP/USD has approached the previous bottom (green line) and could either bounce up as part of a bigger consolidation or break lower as part of the down trend. 1 hour The 1 hour chart shows the potential for one more fall within...
EUR/USD and GBP/USD Break Support but Remain in Correction
April 10, 2015 - 07:53
EUR/USD 4 hour The recent bearish momentum on the EUR/USD caused both the break below the support trend line (dotted green) and also the wave count to change to its current form (multiple wave Y's). 1 hour Price seems to have completed a bearish zigzag (orange ABC) but the confirmation of the completion occurs when price manages to break above the resistance trend line (orange). A bearish continuation could see price fall towards lower Fibonacci targets. GBP/USD 4 hour The GBP/USD also broke below support yesterday and is...
Major Break or Bounce Spots for EU, GU and UJ
April 09, 2015 - 07:49
EUR/USD 4 hour The wave B count (magenta) has become less likely due to the EUR/USD break below the trend line support (light green) during the FOMC statement yesterday. 1 hour The invalidation level is the bottom of wave A (magenta) which is the 100% Fibonacci level at 1.0725. GBP/USD 4 hour The GBP/USD bounced at the support trend line (light green) in yesterday's trading but failed to break resistance (red) and thus is still within a wedge with support and resistance trend lines nearby. 1 hour The GU is back to a support trend...
Wave C Fibonacci Targets on the EUR/USD and GBP/USD
April 08, 2015 - 08:01
EUR/USD 4 hour The EUR/USD has arrived at the potential support of wave B (magenta) and trend line (green) and could be at a bounce or break spot. 1 hour The EUR/USD had a bearish intra-day trend yesterday but price broke of the resistance (orange) trend line during today's Asian session, which could be part of the wave C (magenta). GBP/USD 4 hour The GBP/USD also approaches potential support (green lines) which could act as a break or bounce spot. 1 hour If the GBP/USD makes a bullish bounce then wave B (green) could be indeed...
EUR/USD and GBP/USD Appraching Fibonacci Retracement Levels of Wave B
April 07, 2015 - 07:51
EUR/USD 4 hour The EUR/USD is approaching potential support at the Fibonacci levels of wave B (magenta) and at a trend line (green). 1 hour The EUR/USD has completed a 5th wave within wave A (purple). The most likely scenario is a zigzag correction (ABC – purple) considering the momentum during the FOMC event. GBP/USD 4 hour The GBP/USD failed to break above the 1.50 psychological round number and could be building on an ascending wedge (horizontal resistance but upward support). 1 hour The GBP/USD is approaching potential...
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