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XAUUSD Analysis by Wave FX Academy (GOLD TO $1920)Hi Traders, Here's my thoughts on XAUUSD (GOLD) Corrective market structure on the Daily timeframe coming out of a strong bull run with price hitting all time highs. 4Hr Timeframe showing a completion of a 5wave cycle using the elliot wave principles, as such, I would be looking for a pullback between the 38.8 and 61.8 fib of that cycle. Current price action on the 1Hr showing an active downtrend structure, however, with price breaking the trend line resistance and also leaning against the 1Hr structural resistance we could see a break out to the upside. My overall bias is LONG and to see price action hitting $1920. I will however be monitoring the price action between 1870 and 1860. 
I've labeled the areas based on what I will be anticipating. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry. Like and Comment your thoughts . All feedbacks are welcome. If you are new to FOREX trading, here are the definition for words you may seen mentioned above. Price Action: Change in the price value of a traded instrument whether Forex, Commodities or Indices. Market Structure: This is classified as any group of candlesticks placed together with the use of Support, Resistance and Trendlines . Once grouped they would provide a pattern to indicate a possible movement in price action. Support: Areas in the market where price tends to reverse after a sell off (lower price action) Resistance: Areas in the market where price tends stop, pause or reverse after bull run (higher price action) Uptrend: price action in the market creating a series of high highs and higher lows. Downtrend: price action creating a series of lower lows and lower highs

Long: Taking a position to buy the base currency Short: Taking a position to sell the base currency.
FOREXCOM:XAUUSDLong
by wavefxacademy
6
EURCAD Day Trade Analysis by Wave FX (Price to HIT 1.5700)Hi Traders, Here's my thoughts on EurUsd Ranging market on the Daily timeframe with 4Hr support holding firm, current price action on the 1Hr providing confluence to Daily and 4Hr. My overall bias is LONG and to see price action hitting $1.5700 
I've labeled the areas based on what I will be anticipating. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry. Like and Comment your thoughts . All feedbacks are welcome. If you are new to FOREX trading, here are the definition for words you may seen mentioned above. Price Action: Change in the price value of a traded instrument whether Forex, Commodities or Indices. Market Structure: This is classified as any group of candlesticks placed together with the use of Support, Resistance and Trendlines. once grouped they would provide a pattern to indicate a possible movement in price action. Support: Areas in the market where price tends to reverse after a sell off (lower price action) Resistance: Areas in the market where price tends stop, pause or reverse after bull run (higher price action) Uptrend: price action in the market creating a series of high highs and higher lows. Downtrend: price action creating a series of lower lows and lower highs

Long: Taking a position to buy the base currency Short: Taking a position to sell the base currency.
Long
by wavefxacademy
2
EURGBP TO hit 0.93 Analysis by WAVE FX AcademyHi Traders, Here's an my Intraday trading analysis on EurGbp. Daily timeframe shows where we have tested the 61.8 fib level based on the recent bullish impulse. This is an indication that the market may have completed its correction. The 4Hr shows price in a down channel, but there was also a strong rejection of the 4Hr support too, then finally to tie all our analysis together, price action on the 1Hr timeframe provides a breakout of market structure resistance, now acting as support, with provides enough confluence to start looking for buying opportunities. My overall bias is LONG and to see price action hitting 0.9300. I will however be monitoring the price action between on the 41Hr timeframe for added confirmation based on one of my trading strategies. 
I've labeled the areas based on what I will be anticipating. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry. Like and Comment your thoughts . All feedbacks are welcome. If you are new to FOREX trading, here are the definition for words you may seen mentioned above. Price Action: Change in the price value of a traded instrument whether Forex, Commodities or Indices. Market Structure: This is classified as any group of candlesticks placed together with the use of Support, Resistance and Trendlines . once grouped they would provide a pattern to indicate a possible movement in price action. Support: Areas in the market where price tends to reverse after a sell off (lower price action) Resistance: Areas in the market where price tends stop, pause or reverse after bull run (higher price action) Uptrend: price action in the market creating a series of high highs and higher lows. Downtrend: price action creating a series of lower lows and lower highs

Long: Taking a position to buy the base currency Short: Taking a position to sell the base currency.
Long
by wavefxacademy
CADJPY Trade Analysis by WAVE FX Academy (UPDATE: Target $76)Hi Traders, Here's an update on CADJPY Market panning out as expected with the break on the daily trend line support. You can review the my analysis on this (link attached here) We are seeing the $79.00 level being heavily respected over the past 4 trading days with price action failing to close above. This is a good sign that market may give us that bearish run to $75.00 as previously suggested. My overall bias remains SHORT and to see price action hitting 75.00. I will however be monitoring the price action between on the 4Hr timeframe for added confirmation based on one of my trading strategies. 
I've labeled the areas based on what I will be anticipating. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry. Like and Comment your thoughts . All feedbacks are welcome. If you are new to FOREX trading, here are the definition for words you may seen mentioned above. Price Action: Change in the price value of a traded instrument whether Forex, Commodities or Indices. Market Structure: This is classified as any group of candlesticks placed together with the use of Support, Resistance and Trendlines . once grouped they would provide a pattern to indicate a possible movement in price action. Support: Areas in the market where price tends to reverse after a sell off (lower price action) Resistance: Areas in the market where price tends stop, pause or reverse after bull run (higher price action) Uptrend: price action in the market creating a series of high highs and higher lows. Downtrend: price action creating a series of lower lows and lower highs

Long: Taking a position to buy the base currency Short: Taking a position to sell the base currency.
Short
by wavefxacademy
9
GBPUSD Day Trade Analysis by Wave FX Academy (TARGET 1.2550)Hi Traders, Here's my thoughts on GBPUSD Corrective market structure on the Daily timeframe with Daily and 4Hr support holding firm, current price action on the 1Hr showing an active downtrend channel, and as such we could see a break down of the support structure the higher timeframes. My overall bias is Short and to see price action hitting 1.2550. I will however be monitoring the 1.2800 level (1Hr resistance) 
I've labeled the areas based on what I will be anticipating. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry. Like and Comment your thoughts . All feedbacks are welcome. If you are new to FOREX trading, here are the definition for words you may seen mentioned above. Price Action: Change in the price value of a traded instrument whether Forex, Commodities or Indices. Market Structure: This is classified as any group of candlesticks placed together with the use of Support, Resistance and Trendlines . once grouped they would provide a pattern to indicate a possible movement in price action. Support: Areas in the market where price tends to reverse after a sell off (lower price action) Resistance: Areas in the market where price tends stop, pause or reverse after bull run (higher price action) Uptrend: price action in the market creating a series of high highs and higher lows. Downtrend: price action creating a series of lower lows and lower highs

Long: Taking a position to buy the base currency Short: Taking a position to sell the base currency.
Short
by wavefxacademy
XAUUSD Trade UPDATE (GOLD to HIT $1850)Hi Traders, here is my analysis for XAUUSD ( GOLD ) This is an update to my detailed analysis on this pair. 4Hr market structure confirms the bearish triangle formation with price action breakdown below $1920 Based on Elliot Wave Analysis we can identify current price action in the 4th corrective wave, where we will be anticipating and move lower to complete the 5th wave of the cycle. My overall bias is still SHORT and to see price action hitting $1800.00
I've labeled the areas based on what I will be anticipating. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry. Like and Comment your thoughts . All feedbacks are welcome. If you are new to FOREX trading, here are the definition for words you may seen mentioned above. Price Action: Change in the price value of a traded instrument whether Forex, Commodities or Indices. Market Structure: This is classified as any group of candlesticks placed together with the use of Support, Resistance and Trendlines . once grouped they would provide a pattern to indicate a possible movement in price action. Support: Areas in the market where price tends to reverse after a sell off (lower price action) Resistance: Areas in the market where price tends stop, pause or reverse after bull run (higher price action) Uptrend: price action in the market creating a series of high highs and higher lows. Downtrend: price action creating a series of lower lows and lower highs

Long: Taking a position to buy the base currency Short: Taking a position to sell the base currency.
FOREXCOM:XAUUSDShort
by wavefxacademy
2
XAUUSD Trade Analysis by WAVE FX Academy (GOLD)Hi Traders, here is my analysis for XAUUSD (GOLD) Technical Analysis: Monthly Timeframe: Strong Uptrend market for gold, in fact we’ve seen price hitting all time highs in the process. Based on Elliot Waves Principles, we have completed the 3rd wave of that super cycle and we should start to see some correction in the market (consolidation) which is also clear based on the market structure in the last 2 months. Analysis of the RSI is also providing confluence of a heavily over bought market. therefore I wouldn’t be surprise to see the market revisit the $1800s or even lower. Weekly Timeframe: A clearer representation of the market structure can be seen here where price has seem to have found some support around $1950.00. Therefore this will be the area of interest to pay close attention to for any close below in the coming weeks. Daily Timeframe: A closer look on the daily timeframe has put together in context a lot of what we identified on the higher timeframes. We are seeing a bearish triangle formation completed, which also provides additional confluence to an imminent bearish market. This current market structure in addition to price action from the monthly and weekly would make a short trade the direction with least resistance. My overall bias is still SHORT and to see price action hitting $1800.00
I've labeled the areas based on what I will be anticipating. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry. Like and Comment your thoughts . All feedbacks are welcome. If you are new to FOREX trading, here are the definition for words you may seen mentioned above. Price Action: Change in the price value of a traded instrument whether Forex, Commodities or Indices. Market Structure: This is classified as any group of candlesticks placed together with the use of Support, Resistance and Trendlines. once grouped they would provide a pattern to indicate a possible movement in price action. Support: Areas in the market where price tends to reverse after a sell off (lower price action) Resistance: Areas in the market where price tends stop, pause or reverse after bull run (higher price action) Uptrend: price action in the market creating a series of high highs and higher lows. Downtrend: price action creating a series of lower lows and lower highs

Long: Taking a position to buy the base currency Short: Taking a position to sell the base currency.
FOREXCOM:XAUUSDShort
by wavefxacademy
EURCAD Trade Analysis by Wave FX Academy (LONG to hit 1.62)Hi Traders, here is my analysis for EURCAD Technical Analysis: Monthly Timeframe: We are at a very interesting resistance with where each rejection of this level say price action falling to around 1.50 or below. We are expecting the same to take place here. Assessing the market structure over the past six (6) month we are seeing where we are above an key level in the market with candlestick patterns creating a breakout ond retest to the upside, giving indication that we may see price hit the top of the Key monthly structure. Weekly Timeframe: From a weekly perspective we’re seeing where the market has created a string bullish pinbar candle which would give confluence to the monthly analysis of a potential move to the upside. Daily Timeframe: A closer look on the daily timeframe also provides confirmation to our bullish forecast with the market potentially starting is 5th wave based on Elliot Waves Analysis. Ideally we’d want to see price action closing firmly above the resistance structure at $1.5700 then we can start looking for entires to hit around 1.6200 My overall bias is LONG and to see price action hitting $1.6250.00
I've labeled the areas based on what I will be anticipating. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry. Like and Comment your thoughts . All feedbacks are welcome. If you are new to FOREX trading, here are the definition for words you may seen mentioned above. Price Action: Change in the price value of a traded instrument whether Forex, Commodities or Indices. Market Structure: This is classified as any group of candlesticks placed together with the use of Support, Resistance and Trendlines. once grouped they would provide a pattern to indicate a possible movement in price action. Support: Areas in the market where price tends to reverse after a sell off (lower price action) Resistance: Areas in the market where price tends stop, pause or reverse after bull run (higher price action) Uptrend: price action in the market creating a series of high highs and higher lows. Downtrend: price action creating a series of lower lows and lower highs

Long: Taking a position to buy the base currency Short: Taking a position to sell the base currency.
Long
by wavefxacademy
BTCUSD Trade Analysis by WAVE FX AcademyHi Traders, here is my analysis for BTCUSD(Bitcoin) Technical Analysis: Monthly Timeframe: Price action is currently in a strong Resistance Level, where the market turned heavily bearish the last time reached these highs and the situation appears to be the same today. The overall market has been in a corrective state and looks like a potential triangle formation in the process of forming, I will be watching this closely to see how it plays out. Weekly Timeframe: From a weekly perspective we’re seeing where the market has broke above it’s resistance structure followed by a retest of the previous resistance now acting as market support. Based on the higher timeframe showing we are also in a strong resistance zone on the monthly, I would need to see price closing below weekly support to provide confirmation short. Daily Timeframe: A closer look on the daily timeframe has put in context a lot of what was identified on the higher timeframes. We are seeing a bearish market sentiments where the market broke below daily support, with a retest of that previous support (now resistance) which also coincides with the 50% fibonacci retracement. This current market structure in addition to price action from the monthly and weekly would make a short trade the direction with least resistance. My overall bias is still SHORT and to see price action hitting $7500.00
I've labeled the areas based on what I will be anticipating. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry. Like and Comment your thoughts . All feedbacks are welcome. If you are new to FOREX trading, here are the definition for words you may seen mentioned above. Price Action: Change in the price value of a traded instrument whether Forex, Commodities or Indices. Market Structure: This is classified as any group of candlesticks placed together with the use of Support, Resistance and Trendlines. once grouped they would provide a pattern to indicate a possible movement in price action. Support: Areas in the market where price tends to reverse after a sell off (lower price action) Resistance: Areas in the market where price tends stop, pause or reverse after bull run (higher price action) Uptrend: price action in the market creating a series of high highs and higher lows. Downtrend: price action creating a series of lower lows and lower highs

Long: Taking a position to buy the base currency Short: Taking a position to sell the base currency.
FOREXCOM:BTCUSDShort
by wavefxacademy
GBPUSD ANALYSIS by WAVE FX Academy (UPDATE)Market has broken channel to the upside, and we’re also seeing rejection of the 38.2 Fibonacci level coming from the recent bearish impulse. Given this scenario, should we see price action finding its way below 1.2800 we could see a bearish market continuation down to 1.2500. With the US Dollar index still showing signs of weakness, I will still be Long the Pound, however, I’d be cautious of the approach until I can see some form of rejection from the Daily support, then I’d start looking for an entry Long. My overall bias is still LONG and to see price action hitting $1.3400 
I've labeled the areas based on what I will be anticipating. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry. Like and Comment your thoughts . All feedbacks are welcome. If you are new to FOREX trading, here are the definition for words you may seen mentioned above. Price Action: Change in the price value of a traded instrument whether Forex, Commodities or Indices. Market Structure: This is classified as any group of candlesticks placed together with the use of Support, Resistance and Trendlines. once grouped they would provide a pattern to indicate a possible movement in price action. Support: Areas in the market where price tends to reverse after a sell off (lower price action) Resistance: Areas in the market where price tends stop, pause or reverse after bull run (higher price action) Uptrend: price action in the market creating a series of high highs and higher lows. Downtrend: price action creating a series of lower lows and lower highs

Long: Taking a position to buy the base currency Short: Taking a position to sell the base currency.
Long
by wavefxacademy
CADJPY Trade Analysis by WAVE FX Academy (SHORT)Hi Traders, here is my analysis for CADJPY Technical Analysis: Monthly Timeframe: Strong Downtrend market is active on monthly with price action forming a downtrend channel , with price rejecting a key resistance level . Ideally we should be expecting this trend to continue. Weekly Timeframe: Downtrend market structure also clear on the weekly timeframe , with recent price action in a retracement move. With the price failing to break $81.60, we are likely to see the market revisit the lows of $75.00. Ideally we’d want to see price action back beneath the weekly market structure acting as support to current price action. Daily Timeframe: A steady uptrend is clear on the daily timeframe , however, we are seeing where the market broke down below daily support and hovering around the trendline support. based on this market structure and what was clear on the monthly and weekly, I would be anticipating price action to continue lower. Personally I would want to see the price breaking that trend line with a well conditioned close to start looking for entries short. My overall bias is still SHORT and to see price action hitting $75.00
I've labeled the areas based on what I will be anticipating. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry. Like and Comment your thoughts . All feedbacks are welcome. If you are new to FOREX trading, here are the definition for words you may seen mentioned above. Price Action: Change in the price value of a traded instrument whether Forex, Commodities or Indices. Market Structure: This is classified as any group of candlesticks placed together with the use of Support, Resistance and Trendlines . once grouped they would provide a pattern to indicate a possible movement in price action. Support: Areas in the market where price tends to reverse after a sell off (lower price action) Resistance: Areas in the market where price tends stop, pause or reverse after bull run (higher price action) Uptrend: price action in the market creating a series of high highs and higher lows. Downtrend: price action creating a series of lower lows and lower highs

Long: Taking a position to buy the base currency Short: Taking a position to sell the base currency.
Short
by wavefxacademy
GBPJPY Trade Analysis by Wave FX Academy (DETAILED)Hi Traders, here is my analysis for GBPJPY Monthly Downtrend (market created double bottom and currently pushing higher. Weekly downtrend ( market within a corrective WXY pattern. We have completed X and looking to complete the Y wave lower. Target yearly lows.) Daily Market is also in a downtrend, though we’ve been seeing the pound on a rally since mid June. Should price close above 140.00 it would confirm an active counter trend on the daily chart and i'd be looking for continued longs. Ideally i would be anticipating the bears too re take control as the market structure is possibly forming a bearish triangle. I've labeled the areas based on what I will be anticipating. Like and Comment your thoughts . All feedbacks are welcomed. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry.
Short
by wavefxacademy
1
EURUSD TRADE ANALYSIS by WAVE FX AcademyHi Traders, here is my analysis for EURUSD Technical Analysis: Monthly Timeframe: Strong Downtrend market is still evident on the monthly Timeframe with price action consolidating beneath a strong resistance level as well. Though Price has broke out and close above the trendline resistance, I would be very cautious with opening Long position from these highs given the price level on the monthly. Weekly Timeframe: Analysis on the Weekly is is showing where the market has broken out of its downtrend market environment and has also complete a possible 3rd wave of a new bullish run emerging in the market for the euros. If the 3rd wave is indeed complete, then we should be expecting the fourth wave corrective based on Elliot wave analysis, which would provide confluence of a retracement given that the market structure on the Monthly is showing price at key resistance. Daily Timeframe: Clear market consolidation evident from a daily perspective and based on current market structure, we can see the market break to either side. Given my analysis of the weekly and monthly I would definitely want to see the market breakdown lower before I look towards buying. On the short term i would bee looking at a short position should the conditions favours it. My overall bias is still LONG and to see price action hitting 1.2500
I've labeled the areas based on what I will be anticipating. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry. Like and Comment your thoughts . All feedbacks are welcome. If you are new to FOREX trading, here are the definition for words you may seen mentioned above. Price Action: Change in the price value of a traded instrument whether Forex, Commodities or Indices. Market Structure: This is classified as any group of candlesticks placed together with the use of Support, Resistance and Trendlines. once grouped they would provide a pattern to indicate a possible movement in price action. Support: Areas in the market where price tends to reverse after a sell off (lower price action) Resistance: Areas in the market where price tends stop, pause or reverse after bull run (higher price action) Uptrend: price action in the market creating a series of high highs and higher lows. Downtrend: price action creating a series of lower lows and lower highs

Long: Taking a position to buy the base currency Short: Taking a position to sell the base currency.
Long
by wavefxacademy
EURGBP TRADE ANALYSIS by WAVE FX AcademyTrading View Analysis Template Hi Traders, here is my analysis for EURGBP Technical Analysis: Monthly Timeframe: Market has been consolidating for the past 4 years, holding the lows of 0.8300 and highs of 0.9300 as string support and resistance respectively. The current market structure shows where this consolidation may be the wave 2 correction, with a possibility of price breaking that 0.93 barrier very soon. Weekly Timeframe: Analysis on the Weekly is also providing confluence to the monthly market structure. We are seeing where the market is potentially starting the wave 3 bull run of the subway extension. We can expect a retrenchment to take place around the 0.93 monthly resistance, which would provide a good opportunity to buy. I will be monitoring the price action to see if we indeed get the breakout, otherwise, i would anticipate a retracement into the 0.9150 to 0.9100 zone Daily Timeframe: Strong bullish price action on the daily shows where market found price acceptance 3 month highs, which will now act a strong support to the market structure. We should anticipate further continuation to the upside. This strong bullish pressure will definitely encourage more buyers into the market, however, I would personally wait for some form of retracement or a strong rejection off the 0.9100 support zone before I start buying. My overall bias LONG and to see price action hitting 0.9500
I've labeled the areas based on what I will be anticipating. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry. Like and Comment your thoughts . All feedbacks are welcome. If you are new to FOREX trading, here are the definition for words you may seen mentioned above. Price Action: Change in the price value of a traded instrument whether Forex, Commodities or Indices. Market Structure: This is classified as any group of candlesticks placed together with the use of Support, Resistance and Trendlines . once grouped they would provide a pattern to indicate a possible movement in price action. Support: Areas in the market where price tends to reverse after a sell off (lower price action) Resistance: Areas in the market where price tends stop, pause or reverse after bull run (higher price action) Uptrend: price action in the market creating a series of high highs and higher lows. Downtrend: price action creating a series of lower lows and lower highs

Long: Taking a position to buy the base currency Short: Taking a position to sell the base currency.
Long
by wavefxacademy
EURNZD Analysis by Wave FX Academy (DETAILED MULTI-TIMEFRAME)Hi Traders, here is my analysis for EURNZD Technical Analysis: Market has been gradually progressing higher over the past couple of years. Recent Price Action from a monthly perspective shows we’ve broken above a strong resistance zone at $1.77 now also acting as strong support. It's a strong possibility to see price action in the $1.86 region based on the current market structure. Looking at the weekly timeframe, we are seeing a well conditioned uptrend with price making consistent higher highs and higher lows With price currently testing the 38.2% level from the recent selloff, we may see some rejection here before price continues higher. A closer look at the market structure patterns on the daily timeframe, shows where we have broken out of the down channel and also closed firmly above the downtrend anchor indicating continuation to the upside. With all 3 timeframes (M, W, D) indicating bullish strength, and the major banks adding more long positions on the Euro while closing out massive shorts, in comparison to the all around reduction on both Long and Short positions for the Kiwi, it wouldn't be a surprise to see price action hitting the target of $1.8600 or even higher. I've labeled the areas based on what I will be anticipating. Like and Comment your thoughts . All feedbacks are welcomed. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry.
Long
by wavefxacademy
1
EURCAD Trade Analysis by WAVE FX Academy Hi Traders, here is my analysis for the EURCAD On Daily Timeframe we are seeing where the market have broken out of its 3 month consolidation, with a strong bullish impulse to the upside, hitting March’s highs in the process. Price action also corrected to 61.8% of the impulsive from the breakout. This is also corresponding with the trend channel acting as linear support and resistance. Analysing the COT data; The major banks have closed our shorts for the Euro, while adding more to their Long position on the perspective of the CAD we are seeing where they have closed out Longs and added more shorts. Using this along with Technical Analysis, It would be no surprise to see EURCAD hitting $1.60 I've labeled the areas based on what I will be anticipating. Like and Comment your thoughts . All feedbacks are welcomed. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry.
Long
by wavefxacademy
USD (Dollar Index) Analysis by Wave FX Academy (UPDATE)Trading View Guide: Hi Traders, here is my analysis for the US Dollar (DXY). In my earlier post on the weekly analysis you would identify where we are in what appears to be the corrective 4th wave of the super cycle for the dollar, and I was anticipating a further movement lower to complete the cycle. Observing the daily timeframe we can see where price has formed a downtrend channel and has created 3 primary waves based on the Elliot Wave Principles. My expectation is to see the market test the daily 38.2 fib (from the start of this down channel). From here we can observe how the market reacts. Will we get another push to the downside to complete the full cycle thus creating wave 5? Will the dollar pick up strength and continue on a strong Rally? Only time will tell, however, for now, I am still holding a short bias on the dollar, with a SHORT TERM Long into that 38.2 Fib. I've labeled the areas based on what I will be anticipating. Like and Comment your thoughts . All feedbacks are welcomed. Add this to your watchlist and see how it unfolds.
TVC:DXYShort
by wavefxacademy
4
EURUSD Forex Trade Analysis by WAVE FX Academy (UPDATE)Hi Traders, here is my analysis for EURUSD We should start to see some strength coming in the dollar as the market starts to rally from its 6week sell off. The market however is still showing signs of maintaining its uptrend from a 4Hr perspective as price as continuously respect its trend support and retesting the weekly highs. This is due to the Euro still heavily bid. I will be expecting a slight moving back to the upside based on the market structure, however, I will be looking for signs from price action to take advantage of any selling opportunities. I've labeled the areas based on what I will be anticipating. Like and Comment your thoughts . All feedbacks are welcomed. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry.
Short
by wavefxacademy
2