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CHFJPY Range Box Effect

CHF/JPY has been moving slowly from one range box to another one and right now we're at the point of just breaking out of the current narrow range box that has been established between 123.40 top of the range and 121.20 bottom of the range. A break below this level should open up the range towards next big target of 120.00 which is a big psychological number and at the same time around this level we had our last swing low point back in March 2015.

Major Levels to watch:

[list][/list]…
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Daytrader21 29 11月

Update 2: As expected we broke below the big psychological figure 120.00 which for the time being can act as resistance and more downside should be followed. Next level of support came at 118.00 from where we should expect a bounce

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Daytrader21 14 12月

Update 3: Even though we broke higher and we're back inside the range the price structure looks corrective and we should see a retest of the big psychological number 120.00. Resistance stands at 123.00 while the first level of support for this week stands at 121.80, we need a daily close below this level for further downside

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Daytrader21 20 12月

Update 4: We broke to the downside current support level at 122.50 and managed to close below it, which will warn us for more downside. There is not much support to the downside until we hit the big psychological number 120.00 and the bearish trend still looks intact.

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Daytrader21 27 12月

Update 5: As expected we continue to push lower and close below the 122.50 support level. Next support level is the big round number 120.00 which needs to be broken in order to see more downside pressure coming in the market. Now the first level of resistance has become the previous support level at 122.50

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Update 6: As expected we continued to break down however we weren't able to break below the key psychological number 120.00. We're still almost 100 pips away from my target and the fact the we didn't close below this figure we may take a pause or even get a bounce from here.

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Silver Poised for Another Major Low

Silver bearish trend that started in 2011 is still well mature and running without any clear sights that it may end any time soon and in this regard we should expect for the trend to remain in place and resume to the downside. This bearish cycle has lasted almost 4 years and based on my experience we need to have a final "flush" at the lows before the bottom may be considered in place in this regard I'm still expecting one final leg to the downside in order to consider completed this cycle.
M
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Daytrader21 22 11月

Update 1: Silver seems poised to make a false breakout in the short-term time frame below 13.90 and even lower but eventually a reaction higher should happen in the coming weeks. We're still trading within a very narrow range between 14.50 resistance and 14.00 support level.

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Daytrader21 29 11月

Update 2: We did broke below 13.90 but it was a false breakout and right now we're still back inside the range we need a break and a daily close on each side in order to have more confirmation on which side it want to go. I favor a break of current resistance at 14.40 and a retest of the big psychological number 15.00

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Daytrader21 14 12月

Update 3: We already hit our target but we had a strong sell of from there and now we made new lows below 13.90. We're still moving inside a tight consolidation and there is scope for more range activity around the 14.00 big round number since we're still during the holiday period in which we have a strong seasonal pattern.

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Daytrader21 20 12月

Update 4: Silver is still moving inside a range between 14.60 resistance level and 13.60 support level. Right now we can see another test of the upper limit of this current range. We have to keep in mind that during this time of the year the market will move less.

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Daytrader21 27 12月

Update 5: The momentum from these final two weeks of trading has pushed back up the price to my target and as per my expectation we should see Silver trading between 14.50 resistance levels and 14.20 support level. Current trading environment and taking in consideration the seasonal pattern we should see further ranging conditions

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EUR/GBP Elliott Wave Analysis

Since beginning of 2013 when EUR/GBP has made the final swing high at 0.8800 level we have been trading in a steady way to the downside. Based on Elliott Wave we can count 4 waves of major degree and currently we are in the stage of developing wave IV. Usually based on Elliott Wave principles wave IV can take shape of big consolidation zone, a pause in the trend before the last and final low and the cycle to be completed. Right now wave IV is developing between the 0.7000 big round number and th…
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Daytrader21 22 11月

Update 1: We're close to break below the big psychological number 0.7000, once we get the breakout we have our confirmation that the bearish momentum is in charge and we should expect further lows. to the upside the first level of resistance stands at 0.7050.

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Daytrader21 29 11月

Update 1: We're still trading above the big psychological number 0.7000 which is acting as strong support however wave a of B looks complete and it may be the case we're developing a flat in wave B which means that we can break the lows from here without the need to retest  the 0.7250 level.

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EUR/USD Towards Parity

Lets wait and see if we can get this thing move towards parity. I know it's a long way down the road but at least we should expect EUR/USD move back down and we have a basic framework from where to start. First level of support comes at 1.0800 where price may see a pause before continuing back down.
The ultimate target that EUR/USD can reach this month can be 1.0500 big psychological number we should wait and see first how the economic data is because the NFP figures can give us more clues into …
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USD/JPY TP Hit

Finally, I've managed to pull-out another profitable trade. I don't know how many of you are aware of the fact that USD/JPY is basically unchanged since beginning of the year as the opening price of 2015 is 119.80. Basically for the entire part of 2015 USD/JPY has moved back and forth around the big psychological number 120.00. The reason behind this trade was that ultimately we're going to see a retest again of the big round number 120.00 and since the short term trend was up I decided to take …
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USD/CAD Cycle has ended

Based on the Elliott wave analysis the 5 wave cycle in USD/CAD has completed and we're in the process of correcting the entire cycle started from 2012 low. Wave V of the bigger cycle has been completed at around the round number 1.3400. Right now we're in the process of developing wave A of an ABC correction pattern that will take place over the next few months.
Major Levels to watch:

[list][/list]…
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Daytrader21 25 10月

Update 1: Unfortunately this pair has retrace way too much from the 1.2800 levels and it may be the case we're running out of time to reach 1.2500 in which case we may assume my forecast is wrong.

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GBP/CHF Elliott Wave Analysis

AfterSNB decided to drop the 1.2000 EUR/CHF floor the price action on CHF crosses has been distorted, however, we can still find a way to guide us through the current mess by simple using support and resistance level and the box trading ranges (see Figure 1). GBP/CHF as being a cross pair has a lot of tendency to consolidate and we can find more often it's moving inside this range boxes. Usually if we have this type of boxes on the left side of the chart, we can see how by s…
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Daytrader21 25 10月

Update 1: Since the market wasn't able to close above the big psychological number 1.5000 there is reason to believe it will act as resistance and next week we can expect a pullback. First level of support comes at 1.4850 from where the market can bounce

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Update 2: It seems that wave B has extended more than I was expecting but we can call it completed at 1.5350. Right now wave C is developing and we should see a break below the big psychological figure 1.5000. The next big level of support comes at 1.4600 where current sell-off should stop and wave C can be called completed.

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Daytrader21 15 11月

Update 3: If GBP/CHF doesn't start selling off right from the beginning of next week than I may be wrong on this trade. We need to break below 1.5150 in order to be able to see more downside and a possible reversal.

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Cable Seasonality Pattern Points Lower

Cable is showing a strong seasonal pattern to go lower during the month of November. We can see that during the previous two months GBP/USD has been moving in the same line with the seasonal pattern and this may be a strong case to assume that it will continue to do so in the next month.Don't forget, never use this information alone but instead use the technical tools to confirm this ideas or not, so we're going to look at technicals as well.

Important levels to watch:

[l…
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Update 3: As expected the strong seasonality pattern that we saw in cable has played out quite well. Even thought after recent sell-off we have hit our target there is still scope to break below current support level which is the big psychological number 1.5000. A break below this level will bring us to 1.4880 from where we should expect a strong rally and correct the entire sell off.

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Daytrader21 15 11月

Update 4: there is scope for more upside until 1.5320 where we have a big pivot level from where we should expect to see a reversal. To the downside the most notable support area is around 1.5200 and only a daily close below this level should signal more downside.

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Daytrader21 22 11月

Update 5: Cable has been following his seasonal pattern very well over the past month and we should expect more downside to come.First level of resistance is at 1.5330 while support stands at last week low 1.5150

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Daytrader21 29 11月

Update 6: As expected we have challenged again the big psychological figure 1.5000 but we haven't managed to get a weekly close below it. This week we should expect to act as support level. For this coming week first level of resistance comes at 1.5110 only 24 pips above my initial forecast of just 1.5086. If the big figure holds there is a high probability that my level to be hit on the 1st of December

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Update 6 : This has proven to be a pretty good forecast with only 9 pips deviation from my initial forecast of 1.5086. As expected the fact that we couldn't close below the big psychological figure 1.5000 on a weekly basis has made this bounce possible. First we hit resistance at 1.5125 from where the sell off started and we close the 11:00-12:00 candle at 1.50772. This prediction was on target the whole day and definitely it could have been much better.

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EUR/GBP Elliott Wave Analysis

Since beginning of 2013 when EUR/GBP has made the final swing high at 0.8800 level we have been trading in a steady way to the downside. Based on Elliott Wave we can count 4 waves of major degree and currently we are in the stage of developing wave IV. Usually based on Elliott Wave principles wave IV can take shape of big consolidation zone, a pause in the trend before the last and final low and the cycle to be completed. Right now wave IV is developing between the 0.7000 big round number and th…
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Update 1: Even though we had quite a strong rally above previous swing high at 0.7400 we should see a fade back as the structure of current up leg looks very thin and we need to fill in the gap. First level of support is at 0.7220 a break and a close below it should see further downside.

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AUD/CAD Elliott Wave Count

Based on the Elliott Wave analysis AUD/CAD is headed much more lower (see Figure 1). We're in a very complex corrective pattern which suggest lower price in the weeks and months ahead.Right now we're forming a double zig-zag pattern of lesser degree which is based on the wave X connector of higher degree which should end near the 50 fib retracement at around the 0.8000 big round number.
Major Levels to watch:
[list][/list]…
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Update 5: Right now we have retested the resistance level at 0.9380 but we have gone up until the round number 0.9400 and beyond, however if we can't get a daily close above this level we can turn back and retest support level at 0.9320.

WallStreet6 avatar

Great forecast! One day to go and less than 100 pips away. It can still get closer! Too bad the Aussie came back above 0.70. I was also anticipating further depreciation of the Aussie.

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Update 6: As expected we close below the round number 0.9400 as well as below key resistance level 0.9380. Currently we're trading only 16 pips away from my target and tomorrow trading range looks straight forward as we have resistance at 0.9380 which I'm expect to be retested and from there to be heading down towards support level of 0.9320. My forecast price is right in the middle at 0.9344

WallStreet6 avatar

This is really close to your target. You should make a nice win with this one. Good Luck!

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Joe_Vulcan 15 10月

Elliot waves are the most accurate forecast tools. Can't live without them.

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