SPX500 dropped sharply on Friday in 5 waves. A 5 wave move doesn’t always mean that trend has reversed as a 5 wave move could be part of an Elliott Wave FLAT correction as well which we think was the case here as our bullish pivot at 3/26 (2044.92) low never gave up. As this […]

Our preferred Elliott wave suggest AUDUSD downtrend is mature in the higher time frames but mid-term cycles still remain bearish against 3/24 (0.7937) high. Decline from 0.7937 – 0.7529 took the form of triple three structure and completed wave “W”. Wave “X” bounce is in progress and has already reached 1.236 ext of ((w))-((x)) at […]

Preferred Elliott wave view suggests EURAUD cycles remain bearish against 6th April high (1.4447). Decline from 1.4447 – 1.3753 was a double three Elliott wave structure i.e. (w)-(x)-(y) when wave (w) completed at 1.4118, wave (x) completed at 1.4221 and wave (y) completed at 1.3753 making a higher degree wave ((w)). Pair is currently in […]

Preferred view suggests pair is in a double three or ((w))-((x))-((y)) Elliott wave structure down from 0.7384 peak when dip to 0.7223 completed wave ((w)) and wave ((x)) ended at 0.7380 with a full test of 0.7384 peak. Wave (w) of ((y)) ended at 0.7285 and recovery to 0.7315 was wave (x). Pair is now […]

Preferred Elliott Wave view suggests rally to 19770 completed wave (W) and wave (X) pull back is also proposed to be over at 18973 with a test of equal legs (100% Fibonacci extension). As per Chart of the day presented yesterday (4.6.2015), we were looking for higher prices toward 19888 – 20032 area to complete a (w)-(x)-(y) […]

Preferred Elliott Wave view suggests rally to 19770 completed wave (W) and wave (X) pull back is also proposed to be over at 18980 with a test of equal legs (100% Fibonacci extension). Move up from here is taking the form of a double three or (w)-(x)-(y) structure when wave (w) ended at 19590, wave (x) ended […]