Wave Analysis

USD Bounces at Resistance and Continues with its Corrective Shape
March 23, 2015 - 07:35
EURUSD 4 hour Price indeed bounced at the 78.6% of the wave X (retracement) of the FOMC bullish momentum (indicated as wave W orange). 1 hour A bullish zigzag (ABC magenta) could occur within Wave Y (orange). GBPUSD 4 hour Currently an ABC (blue) zigzag correction is probably the most likely wave explanation with wave C (blue) targets above. 1 hour Price has bounced at the 88.6% Fibonacci support when placing a retracement on the bullish spike during FOMC. USDJPY 4 hour Price bounced at the wave X (magenta) resistance as part of a...
EURUSD and GBPUSD Retrace Large Parts of Bullish Gains after FOMC Statement
March 20, 2015 - 07:35
4 hour EURUSD: the price action in response to the FOMC statement on Wednesday has created big bearish spikes on the USD. For the EURUSD this could suggest a bigger WAXY (orange) correction. 60 min EURUSD: the potential wave X (retracement) has reached the 78.6% of the FOMC bullish momentum (indicated as wave W orange). GBPUSD 4 hour GBPUSD: an ABC (blue) zigzag correction could explain the current price action. At the moment price is testing the bottom as part of the wave B (blue) perhaps. 60 min GBPUSD: price has retraced back to the...
FOMC Statement Causes Massive USD Weakness Movement
March 19, 2015 - 08:00
4 hour EURUSD: the big bullish burst could indicate the completion of the wave 3 (light green) and the start of a bigger correction (orange). 60 min EURUSD: a retracement could be part of the wave X (orange). GBPUSD 4 hour GBPUSD: the FOMC statement also caused massive USD weakness against the GBP as the Cable moved up nearly 600 pips from the bottom. An ABC (blue) zigzag correction seems the most likely scenario for the moment with wave C (blue) Fibonacci levels as the main targets. 60 min GBPUSD: wave 5's (blue and green) seem to...
EURUSD and GBPUSD in Wave 4 Consolidations before FOMC Statement
March 18, 2015 - 07:24
4 hour EURUSD: the EURUSD still remains in a downtrend despite the sideways consolidation of the wave 4 (green). A break on the lower time frames could indicate the begin of wave of wave 5 (green) 60 min EURUSD: a break below the channel could indicate such a start of the wave 5 (green). GBPUSD 4 hour GBPUSD: the GBPUSD used the broken monthly bottom (dotted green) as a resistance point. 60 min GBPUSD: a break below the current bottom at 1.47 could confirm that price is in the wave 5 (green). USDJPY 4 hour USDJPY: a contracting wedge...
USDJPY Building Massive Contracting Triangle Chart Pattern
March 17, 2015 - 07:32
4 hour EURUSD: the EURUSD remains firmly positioned in a downtrend as long as price stays below the 50% Fibonacci retracement level of wave 4 (green). 60 min EURUSD: wave 4 (green) has most likely been expanded with a WXY (blue) correction. GBPUSD 4 hour GBPUSD: the GBPUSD is now most likely in a wave 4 (green) Fibonacci which means that a retracement up to the Fibonacci levels would be possible. 60 min GBPUSD: the Cable is now building a bear flag correction within wave 4 (green). USDJPY 4 hour USDJPY: a contracting wedge is being...
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