GBPJPY is reversing sharply down after reaching a new high above 153.00 which makes us think that higher degree impulsive is finished and that new corrective set-back is unfolding. Corrections are always made by a minimum three legs; A-B-C move, so it makes sense for us to expect even lower prices in the near-term if...

The post GBP/JPY Elliot Wave Analysis: Sharp intraday weakness puts A-B-C in play towards 148.40 and 147.40 appeared first on Forex Crunch.

It’s Too Soon To Buy Gold-Elliott Wave Chart Hello traders! After the recent strong and impulsive rally on gold, we can see it slowing down now since the August 2020 high, but with slow and overlapping price action, so we think it’s a corrective wave structure, seen as higher degree wave IV correction. Wave IV...

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–After a completed bullish five-wave cycle, EURJPY can be making an (A)-(B)-(C) correction before the uptrend resumes–. Hello traders! Today we will talk about EURJPY, its price action from technical point of view and wave structure from Elliott Wave perspective.   If you are familiar with EW, then you know that after every five waves,...

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Hello traders! On the 4h chart of AUDUSD we can see market trading in a bullish price move, commonly named an impulse. An impulse is a five-wave move, that trades in the direction of the stronger trend (in our case to the upside). That said, we know that nothing moves in straight lines, which means...

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Hi traders, Silver is trading in a bigger, complex W-X-Y correction, down from August highs. At the moment we are tracking a sub-wave C of Y, down from 25.97 level, where sub-wave B correction fully unfolded its three-wave move. Wave C is an impulse, therefore five legs towards the 20.0/19.5 region can be seen this...

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It appears that crude oil prices stabilized after that sharp drop at the start of September. Then energy was able to recover close to $42 but the move is not that strong, rather slower and choppier; very undecided direction due to increase of corona-virus cases and potential second lock-down. However, I don’t think we will...

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Hello traders,   In this analysis, we will talk about a triangle pattern. Those who are familiar with them will know that these are one of the most popular patterns by hundreds of traders. The reason why they are so interesting is that while they are unfolding, momentum is decreasing, volume is low, therefore everyone...

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Hello traders, GBPAUD continued lower from the latest 1.84 high and is now trading close to potential support at 1.806 level, provided form a former swing high. Also fib. ratios of 50.0 and 61.8 (1.806/1.80 level) can react as support, and push the price into a higher degree wave c. That said, once sub-wave c)...

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