AudNzd: Upward Trend To Resume?

The bearish trend from 2011 was a clear impulse wave.

According to elliot wave theory, a 3-wave correction often follows a 5-wave trend. These corrections have different patterns; one of which is the zigzag pattern.

The 5-wave impulse in Audnzd ended and immediately started the 3-wave correction in April 2015.

Usdcad Taking One More Push Upside?

The price of Usdcad is predominantly determined by the crude oil markets. The negative correlation between them is so strong that as soon as oil price begins to fall, Usdcad immediately begins the rise in almost similar manner.

Since 2011, the trend of Usdcad has generally been bullish in what should be an impulse wave C of a cycle corrective ABC.

The C wave may have peaked at 1.3435 (100% fibonacci projection of wave A from B) but the impulse pattern doesn't look completed yet.

Price is probably in the 4th wave (a RUNNING FLAT corrective pattern shown in yellow) of the 5th wave of this impulse wave.

GbpJpy To Continue Downward?

The fast fall in the GbpJpy had been forecast after a very powerful reversal pattern showed up- I call the pattern the 'pregnant diagonal' i.e a diagonal pattern ending a larger degree diagonal pattern. You can read the forecast  GBPJPY

And then read how price react later after the pattern completed GBPJPY

The fall was fast just as expected knowing that a diagonal is often followed by a fast counter move to its starting point.

Continuation Of Eurusd Bullish Correction. How probable?

It's been long that I haven't updated on this pair. The last analysis titled Eurusd Intraday Update was about how far price has reacted after the rise from 1.046.

Price from 1.046 is clearly engaging in a correction after a long term bearish move. The correction was expected to be a double zigzag pattern