Wave Analysis

New Trading Week Starts with US Dollar Indecisiveness
March 30, 2015 - 07:49
EUR/USD 4 hour The EUR/USD price action faces many layers of resistance above it due to its bigger downtrend. 1 hour Wave X (magenta) is not necessarily completed and a deeper correction could took place. GBP/USD 4 hour The FOMC price spike created wave W (blue) but price has been unable to break away from this price zone. 1 hour Price is within a down sloped channel (orange and purple) and could be completing a wave X (green) of the bigger wave Y (blue). USD/JPY 4 hour The USD/JPY is making a WXY (magenta) correction within the...
Majors Stand Out due to their Indecisive Price Action
March 27, 2015 - 08:19
EUR/USD 4 hour The EUR/USD price action remains corrective and is unable to break out of the contracting triangle chart pattern (orange and green trend lines). 1 hour Price action was unable to push above the horizontal resistance (red lines) and is now back at a support trend line (green) and a 38.2% Fibonacci level of wave X (magenta). GBP/USD 4 hour Despite the bearish breakout below the support trend line (dotted light green) price remains choppy and corrective. 1 hour Price could be making an ABC correction as part of wave Y (...
Trend Lines are Dominating the Major Currency Pairs
March 26, 2015 - 07:53
EUR/USD 4 hour The 100% Fibonacci target of wave Y (magenta) is equal to the 23.6% retracement of wave 4 (green). 1 hour Price could be close to a bullish breakout when it pushes above the resistance trend line (orange). GBP/USD 4 hour The GBPUSD is in a contracting triangle, which is symbolized best by the support and resistance trend lines (green and orange) on the chart. 1 hour A breakout could occur if price manages to break above or below one of the two trend lines. USD/JPY 4 hour The USD/JPY completed the wave B (red) quickly...
The Wave 4 Correction Provides USD Bears Space Down to 23.6% Fibonacci Level
March 25, 2015 - 08:17
​EUR/USD 4 hour The EUR/USD is probably correcting upwards as part of a larger wave 4 (green) with a 23.6% Fibonacci retracement level, which is at a confluence of other resistance levels. 1 hour Price is most likely making an expanded correction (WXY magenta). GBP/USD 4 hour The support (green) and resistance (dark red) trend lines are important decision levels for the GBP/USD. 1 hour A wave 4 (magenta) within a bullish zigzag (ABC blue) is still possible as long as price stays above the top of wave 1 (purple trend line). USD/JPY 4...
Major Currency Pairs Offer Key Breakouts on Lower Time Frame Charts
March 24, 2015 - 07:33
EURUSD 4 hour The EURUSD used the wave B (magenta) support levels for a bounce yesterday. A next bounce could see price move towards the confluence of Fibonacci targets (green). 1 hour The bullish zigzag (ABC purple) could have completed and an expanded correction (WXY) now seems the most likely. GBPUSD 4 hour An ABC (blue) zigzag correction is the most likely wave count although a contracting triangle could occur if price does not manage to stay above the dotted green support level. 1 hour A breakout above the resistance trend line (...
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