FORECASTING FINANCIAL MARKETS USING ELLIOTT WAVES THEORY AND GENERAL TECHNICAL ANALYSIS.
Monday, May 23, 2016
Sunday, May 22, 2016
Trade Ideas:Eurusd, Usdjpy, Usdcad, Audusd, Audnzd
EURUSD
The move from 1.1610 to 1.1177 is a clear impulse wave, a 3-wave correction , at least, is expected to 1.1344-1.1445 in the coming weeks.
Trade Idea. : Long @ above 1.1235, Stop Loss: 1.1175 Targets: 1.1344, 1.1386, 1.1436
USDJPY
There is a clear impulse wave pattern and price is expected to retrace to 108.682-107.378. The ultimate long term target is below 105.68.
Trade Idea: Sell below 109.66, Exit: 110.63, Targets: 108.68, 108.10, 107.37
AUDUSD
The impulse wave from wave (4) is showing the first sign of termination @ 0.71773. We expect a bullish move to 0.7420-0.7579.
Trade Idea: Buy @ 0.7268, Exit @ 0.7170, Targets: 0.7420, 0.7497, 0.7579
AUDNZD
Just like what I posted in the last article on Audnzd, there is an expectation that a rally is imminent after the formation of an ending diagonal. Price should stay above 1.0640 to maintain its validity.
Trade Idea: Buy @ 1.0730, Exit: 1.0640, Targets: 1.0805, 1.0902
USDCAD
I expect the bullish move to continue to 1.3310. We will wait for a dip at (1.2987-1.3016) support level and then look for a long opportunity if price bounces off the support level.
The analytical view will be invalid if price breaks the aforementioned support level downward with high momentum.
Trade Idea: Look for buying opportunity if price dips to (1.2987- 1.3016). Targets: 1.3235, 1.3310
Please post your comments below or send a mail to forexmaster05@yahoo.com
Sms/Whatsapp: +2348134820569
Disclaimer:
This is the blog author's view based on Elliott wave theory and other technical tools.
Though, these tools and methodologies have been proven to be reliable, there is no guarantee that price will go in the direction of the ideas or hit the targets.
Users do so at their own risk, the blog author and writer of these ideas will not be responsible for any loss of fund as a result of trading the ideas.
Users are advised to use proper money management.
The move from 1.1610 to 1.1177 is a clear impulse wave, a 3-wave correction , at least, is expected to 1.1344-1.1445 in the coming weeks.
Trade Idea. : Long @ above 1.1235, Stop Loss: 1.1175 Targets: 1.1344, 1.1386, 1.1436
USDJPY
There is a clear impulse wave pattern and price is expected to retrace to 108.682-107.378. The ultimate long term target is below 105.68.
Trade Idea: Sell below 109.66, Exit: 110.63, Targets: 108.68, 108.10, 107.37
AUDUSD
The impulse wave from wave (4) is showing the first sign of termination @ 0.71773. We expect a bullish move to 0.7420-0.7579.
Trade Idea: Buy @ 0.7268, Exit @ 0.7170, Targets: 0.7420, 0.7497, 0.7579
AUDNZD
Just like what I posted in the last article on Audnzd, there is an expectation that a rally is imminent after the formation of an ending diagonal. Price should stay above 1.0640 to maintain its validity.
Trade Idea: Buy @ 1.0730, Exit: 1.0640, Targets: 1.0805, 1.0902
USDCAD
I expect the bullish move to continue to 1.3310. We will wait for a dip at (1.2987-1.3016) support level and then look for a long opportunity if price bounces off the support level.
The analytical view will be invalid if price breaks the aforementioned support level downward with high momentum.
Trade Idea: Look for buying opportunity if price dips to (1.2987- 1.3016). Targets: 1.3235, 1.3310
Please post your comments below or send a mail to forexmaster05@yahoo.com
Sms/Whatsapp: +2348134820569
Disclaimer:
This is the blog author's view based on Elliott wave theory and other technical tools.
Though, these tools and methodologies have been proven to be reliable, there is no guarantee that price will go in the direction of the ideas or hit the targets.
Users do so at their own risk, the blog author and writer of these ideas will not be responsible for any loss of fund as a result of trading the ideas.
Users are advised to use proper money management.
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