Wave Analysis

Wave Count after NFP Event and its Impact on US Dollar
April 06, 2015 - 07:43
EUR/USD 4 hour Friday's NFP figure was lower than expected and caused the US Dollar to weaken. The EUR/USD is showing bullish momentum but at the same time it has reached major resistance (red lines). 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 weak NFP figure caused a burst of bullish momentum on the Cable, which broke the resistance part of the triangle chart pattern (...
Wave Count Prior to NFP Event and its Potential Direction on EUR/USD
April 03, 2015 - 07:41
EUR/USD 4 hour The NFP event on Friday will heavily impact the price movements of the EUR/USD and all other currency pairs. 1 hour Price seems to be making a zigzag correction (ABC purple). GBP/USD 4 hour The GBP/USD price action will be very dependant on the NFP figures and the wave count is vulnerable to change depending on that. 1 hour The GBP/USD average movement has slowed down before the NFP event. USD/JPY 4 hour Also the USD/JPY is no exception and its price action will be very dependant on the NFP figures as well. 1 hour The...
USD Respects Multiple Major Support and Resistance Levels prior to NFP
April 02, 2015 - 07:37
EUR/USD 4 hour The EUR/USD has multiple strong support (greens) and resistance (reds) levels close by and is unable to break above or below the FOMC daily candle of March 18. 1 hour The wave X (magenta) could be placed lower if price breaks below the short-term support trend line. GBP/USD 4 hour The GBP/USD price action is very corrective and this could last until the NFP event on Friday. 1 hour The GBP/USD also has multiple strong support (greens) and resistance (reds) levels close by and is unable to break above or below the FOMC...
US Dollar Rallies but Struggles with Resistance
April 01, 2015 - 07:52
EUR/USD 4 hour The EUR/USD has been moving down in a channel (purple) but has various support levels nearby (green and Fib). 1 hour The bearish price action could have also resembled a falling wedge (purple lines) chart pattern which usually is followed by a bullish bounce. GBP/USD 4 hour The GBP/USD bounced at a support trend line (green) yesterday and remains corrective in its price movement, which could last until the NFP event on Friday. 1 hour Price was unable to break below the support (purple) and hence confirmed the wave X (...
Breakout Targets for the EURUSD and USDJPY
March 31, 2015 - 08:03
​EUR/USD 4 hour The EUR/USD is building a complex and corrective chart formation with limited space due to the many layers of support and resistance. 1 hour It seems the most likely that price could be breaking towards the Fibonacci targets of the Wave X (magenta), which in turn could be a bouncing spot. GBP/USD 4 hour The GBP/USD is in a bearish channel but its angle is shallow, which in turn indicates indecisiveness. 1 hour For the moment the corrective price action is confirming the usual price behavior of a wave X (green) but this...
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