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Silver Broken Trendline

Silver bearish trend may have ended once we broke the trendline that connects the 2011 highs and all the intermediate highs of this bearish trend. This bearish cycle has lasted almost 4 years and based on my experience any new major trend starts with a trendline breakout of previous trend. We already broke to the upside of the trendline that connects the highs of this bearish trend at beginning of the year(see Figure 1), and not only that but we had a successful retest of th…
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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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GBP/CHF Range Boxing

After SNB 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 sim…
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EURCAD Elliott Wave Analysis

Based on the Elliott Wave count we can tell that EUR/CAD is at the beginning of resuming its long term downtrend. On a weekly chart we can discern an WXY pattern which can be subdivided into wxy patterns of smaller degree. Right now we're testing an historical level 1.4500 which has provided good resistance in the last few years.
Major Levels to watch:
  • 1.4500 Big round number and psychological number, Resistance level;
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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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AUD/CAD Elliott Wave Analysis

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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NZD/CAD Summer Rally

NZD/CAD has the tendencies to rally during summer periods(see Figure 1) or at least to make a pause in the trend and stay inside a range. We can see that right from the first few days of Jun the market is starting to rally and more often it puts in place a major swing low. The seasonality are a strong tool to use but they never must be used alone and in combination with other technical tools, because the seasonality it only gives us the tendencies of what we should expect the marke…
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Kiwi COT Extreme

NZD/USD has broken key support after support level and it seems now that the bearish trend is already oversold. We can't rule ot another retest of the big round number 0.6500 before going up again. The COT report is already warning us that a reversal or at least a bounce should happen because during this last leg down the commercials have become net buyers and they have been accumulating a lot of contracts as the COT report has been moving to extreme levels again (see Figure 1[/
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CAD/CHF Range Boxing

We can see that for the most part cross pairs like CAD/CHF have the tendencies to move in consolidation box, which i call range box effect. Right now we're moving inside one of those range zone between 0.7500 round number and psychological number which is also the bottom of the current box and 0.7700 resistance and top of the box.
Major Levels to watch:
  • 0.7500 Big round number and psychological number and also support level.
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CHF/SGD Summer Consolidation

We can see that for the most part cross pairs like CHF/SGD have the tendencies to move in consolidation box, which i call range box effect. Right now we're moving inside one of those range zone between 1.4000 round number and psychological number which is also the bottom of the current box and 1.4600 resistance and top of the box.
Major Levels to watch:
  • 1.4000 Big round number and psychological number and also support level.
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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 just breaking out of the current range box with the range between 127.00 support level and 130.00 resistance zone(see Figure 1). Since we broke and manage to get a weekly close above this resistance level we may assume that we're heading higher where another range box should be established.
Major Levels to watch:
[list][/list]…
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AUD/CHF Inside Down Channel

On the daily chart we can see that since the SNB black swan event the market has been moving inside a downward channel (see Figure 1)which can also be a diagonal, and based on the Elliott Wave we should see a 5 wave move inside the channel before the market to decide on it's direction. Currently we're in the stage of developing the 3rd wave but first we'll need to hit the lower limit of this channel at around the big round number and psychological number 0.6800 where a bounc…
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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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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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AUD/CAD Elliott Wave Analysis.

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 prices 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:
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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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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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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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AUD/CHF Inside DownChannel

On the daily chart we can see that since the SNB black swan event the market has been moving inside a downward channel (see Figure 1) which can also be a diagonal, and based on the Elliott Wave we should see a 5 wave move inside the channel before the market to decide on it's direction. Currently we're in the stage of developing the 4rd wave but first we'll need to hit the upward limit of this channel at around the big round number 0.7300 where a bounce lower should occur.
[…
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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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