Trade Balance in the UK in March was published. It was -9.1 billion pounds vs. forecast for -8.9 billion pounds. Amid the US dollar’s strength and the pound lost 87 pounds on Friday. Technically, the trend is bearish; on the H4 the price has moved under the support of price channel and consolidated under it, […]
Today’s support and resistance levels: R3: 1.5717 R2: 1.5658 R1: 1.5639 Current spot: 1.5601 S1: 1.5580 S2: 1.5560 S3: 1.5535 Technical overview: After a little detour to 1.5482 red wave ii finally found its bottom and we should now be in red wave iii higher. This red wave iii is expected to be very powerful […]
Today’s support and resistance levels: R3: 132.95 R2: 132.50 R1: 132.12 Current spot: 131.77 S1: 131.52 S2: 131.29 S3: 130.79 Technical overview: As we expected, it was only a question of time before resistance at 130.37 gave away and the underlying upside pressure forced the price higher. We are currently in wave 5 and the […]
Today’s support and resistance levels: R3: 1.5717 R2: 1.5658 R1: 1.5593 Current spot: 1.5546 S1: 1.5518 S2: 1.5463 S3: 1.5426 Technical overview: We are a bit surprised to see the rather big correction from the 1.5717 high, but that said, we are still bullish due to the break out of the falling channel and the […]
Today’s support and resistance levels: R3: 131.62 R2: 131.12 R1: 130.37 Current Spot: 129.84 S1: 129.72 S2: 129.32 S3: 128.98 Technical overview: We have seen a test of important resistance at 130.37, but not yet been able to break above this resistance. However, we think that it is just a matter of time before we […]
Today’s Support and Resistance levels: R3: 1.5855 R2: 1.5773 R1: 1.5734 Current Spot: 1.5664 S1: 1.5599 S2: 1.5540 S3: 1.5498 Technical overview: This cross seems to have finally come to live. We are still looking for a major rally over the coming weeks/months and even years. Let us zoom in on the shorter time frame. […]
USD/CAD Elliott Wave For the last few days, the USD/CAD pair has been trading downwards, impulsive wave (5) (coloured blue) of the bigger wave C (coloured red) has been developing. During the Tuesday’s Asian session we could observe small ascending movement from 1.0064 towards the 1.0082 level. Therefore, during the European and New York sessions […]
AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has continued trading in a bearish mood, just like we expected, impulsive sub-wave 3 (coloured purple) of the bigger wave (3) (coloured green) has been developing. Yesterday, during the Asian and European sessions we could observe strong descending movement from 1.0254 towards the 1.0187 level, […]
EUR/USD Elliott Wave Since our last analyses the EUR/USD pair has been trading upwards, so we changed our primary wave count a little bit. Yesterday, during the Asian and European sessions we could observe ascending movement from 1.3067 towards the 1.3131 level and because of this move we need to look the corrective wave […]
AUD/USD Elliott Wave For the last few days the AUD/USD pair has been trading downwards, impulsive wave 3 (coloured blue) of the bigger wave (C) (coloured green) has been developing. During the Monday’s Asian and European sessions we could observe descending movement from 1.0310 towards the 1.0263 level. Therefore, during the New York session this […]
USD/CAD Elliott Wave Since our last analysis the USD/CAD pair has been trading downwards, just like we expected, corrective wave 2 (coloured green) of the final (5) wave (coloured blue) has been developing. During the Monday’s Asian and European sessions we could observe ascending movement from 1.0071 towards 1.0095 level and we can consider this […]
Today’s Support and Resistance levels: R3: 1.5456 R2: 1.5424 R1: 1.5381 Current spot: 1.5353 S1: 1.5337 S2: 1.5306 S3: 1.5260 Technical overview: The price-action has been very inconclusive since yesterday, we are still expecting support in the 1.5300 – 1.5310 area to protect the downside for the next rally higher. However, a break above 1.5424 […]
Today’s support and resistance levels: R3: 130.68 R2: 130.23 R1: 129.81 Current spot: 129.58 S1: 129.23 S2: 128.97 S3: 128.61 Technical overview: The minor correction from 130.41 has been a little bigger than we expected, but that does not change our view that the next powerful rally higher is to begin soon. We are currently […]
If you use Elliott in your technical analysis, you may already use Fibonacci ratios to determine targets and retracement levels in your charts. But have you heard of “Fibonacci Clusters?” Elliott Wave Junctures editor Jeffrey Kennedy shares his charts to illustrate this technique, which he recently used to identify a critical turning point in Gold. […]
EUR/USD Elliott wave Since our last analysis the EUR/USD pair has been trading lower, so we changed our primary wave count a little bit. During the Thursday’s European session we could observe ascending movement from 1.3145 towards the 1.3217 level. Therefore, during the early New York session this major currency did not manage to hold this […]
USD/CAD Elliott wave Since our last analysis the USD/CAD pair has been trading upwards, corrective wave (4) (coloured blue) of the bigger wave C (coloured red) has been developing. Yesterday, during the Asian and European session we could observe descending movement from 1.0083 towards the 1.0058 level and we can consider this move as the […]
AUD/USD Elliott wave For the last few days the AUD/USD pair has been trading downwards, impulsive wave 1 (coloured blue) of the bigger wave C (coloured green) has finished developing. Yesterday, during the Asian and European session we could observe descending movement from 1.0284 towards the 1.0221 level and we can consider this move as […]
Today’s support and resistance Levels: S1: 1.5306 R1: 1.5360 S2: 1.5271 R2: 1.5397 S3: 1.5252 R3: 1.5448 Technical overview: Due to the rate-cut from ECB, the price action has been more extreme than we expected yesterday. We […]
Today’s support and resistance levels: S1: 127.78 R1: 128.43 S2: 127.50 R2: 128.70 S3: 127.20 R3: 129.00 Technical overview: Due to the ECB rate cut, the price action was all over the place yesterday, but has it […]
USD/CAD Elliott Wave Since our last analysis the USD/CAD pair has been trading sideways, impulsive wave (3) (coloured blue) of the bigger wave C (coloured red) has finished developing and we are currently at the start of the corrective wave (4) (coloured blue). Yesterday, during the Asian session we could observe descending movement from 1.0075 […]
EUR/USD Elliott Wave For the last few days the EUR/USD pair has been trading upwards, impulsive wave 3 (coloured blue) of the bigger wave (C) (coloured green) has been developing. During the Wednesday’s Asian and European session we could observe strong ascending movement from 1.3160 towards the 1.0324 level and we can consider this move as […]
AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has been trading downwards, just like we expected, impulsive wave 1 (coloured blue) of the bigger wave (C) (coloured green) has been developing. During the Wednesday’s Asian and European session we could observe descending movement from 1.0380 towards the 1.0322 level. Therefore, during the New […]
GBP/USD Elliott Wave For the past few weeks the GBP/USD pair is trading upwards, in Elliott perspective this move represent corrective wave 2 (coloured blue) of the bigger wave (C) (coloured red). Yesterday, during the Asian and European session we could observe strong ascending movement from 1.5527 towards the 1.5590 level. Therefore, during the early New York […]
Today’s support and resistance levels: S1: 1.5484 R1: 1.5537 S2: 1.5462 R2: 1.5561 S3: 1.5444 R3: 1.5601 Technical overview: We have finally seen a clear break above the decending channel, which confirms our long-term bullish view. In […]
Today’s support and resistance levels: S1: 127.85 R1: 128.42 S2: 127.60 R2: 128.82 S3: 127.19 R3: 129.45 Technical overview: The wave 4 triangle is still unfolding. We are currently in wave d of the triangle, which we […]
“Guessing or going by gut instinct won’t work over the long run. If you don’t have a defined trading methodology, then you don’t have a way to know what constitutes a buy or sell signal. Moreover, you can’t even consistently correctly identify the trend.” -Jeffrey Kennedy Jeffrey Kennedy is an accomplished teacher and a Senior […]
USD/CAD Elliott Wave For the last few days the USD/CAD pair has been trading downwards, impulsive wave (3) (coloured blue) of the bigger wave C (coloured red) has been developing. Yesterday, during the Asian and European sessions we could observe sideways move between 1.0112 and 1.0103 area, and we can consider this movement as the […]
USD/CAD Elliott Wave Since our last analysis the USD/CAD pair has continued trading lower, so we changed our primary count a little bit. During the Yesterday’s Asian and European sessions we could observe descending movement from 1.0168 towards the 1.0133 level. Therefore, during the New York session this commodity currency has continued trading in bearish […]
AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has continued trading upwards, just like we expected, corrective wave C (coloured blue) of the bigger wave (B) (coloured green) has been developing. During the Monday’s Asian and European sessions we could observe strong ascending movement from 1.0271 towards the 1.0320 level. Therefore, during the […]
“There are many different forms of technical analysis. A completed Elliott wave pattern supported by additional evidence allows for more confident forecasts and higher probability trades.” -Jeffrey Kennedy Trader and technical analyst Jeffrey Kennedy has more than 25 years of experience using with the Elliott Wave Principle. To support his Elliott wave analysis, Jeffrey says […]
