EU shows willingness to decline further. Recall that now W1 can be seen within the framework of the consolidation of the rectangle. At the same time, growth is possible and within the framework of the current uptrend. If there is a decline, then I suggest to such a model of the five-wave Elliott with the action of the Fib levels.
The forecast on UJ. We can see that now the wave 5 and is likely to further decline to the level of 61.8. At the same time, now the price stops at the support level of 109,319. Thus, the second scenario could also be as a rebound from this level and rise to 110,605.
If I opened a buy position, my take profit would stand at 110,605. stop loss below 109,319. If I had opened a Sell position, then take profit - 61.8 Fib level, stop loss - 109,830.
This is an example of how I would analyze the market at the moment.
The forecast on GBP / USD. Now comes the formation of wave 3, in this case, it is possible to further the formation of waves 4 and 5 (In this case, the wave 5 will reach 23.6), but possibly rebound from the lower border of the trend and increase resistance to 38.2
watching this thread, i hope i can learn something from your journal
Hi DenForex,
I see that you are trading big positions. I suppose it is in full lots? Is there no problem with filling your orders at the price you want?
Forecast GPB / USD. We see an opportunity to touch and test the level of 1.44700. It is also possible the continuation of formation of a wave 5, given that the ox 4 is completed.
Prediction E / U. There is a version of events, as I wrote earlier, this movement within the rectangle. This means that we can expect the fall and the formation of Elliott waves.
But, according to the upward trend, the price is now touched the lower border. This means that growth is possible, according to the trend (blue line)
good thread
was a bad minus with a stop loss. I expect USD / JPY fall to the support level of 105,836. Today, things are better. I used the NFP and earned the expectation that the price will rebound from the support level of the lower border of the trend.
Forecast on USD / JPY. Now there is no apparent answer, which will move the price. She is on the verge of supporting 106,480, below which it is hardly going right now. therefore, likely to rebound from this line. But as we know, the level may have a width, so this rebound may occur, both now and in a couple of days. Therefore, there are two versions of events. Keep in mind that the price is now at 23.6 Fib, is the level of a possible turn up. You can also see the possibility of formation of 4 and 5 and only after that, to achieve the level of resistance of 105,830.
What about GU We see that the correction is over, after the formation of 5-wave and the end of wave 1 and possibly 2.
At the same time, you can now expect growth within wave 3 - 4 - 5 to the resistance level of 1.47200. Thereafter - forming correction.
You can assume that the price will rebound from 1.46140 within the figure’s head and shoulders.
EUR / USD. We can see that the price at the level of 50 fib. Further developments will depend on how this will affect the price level. Perhaps the formation of waves up 2-3-4-5, and possibly re-testing the lower border of the trend down to 1.11400
US Federal Reserve signaled that the rise in interest rates June 15, 2016 is likely, if the state of the economy will continue to improve.
But let’s look at technical analysis:
My predictions about the EUR / USD and his fall was pretty accurate.
But now we can assume that only formed a four wave. The fifth wave will begin in the near future. Expected completion of wave 5 - a support level 1.11421
But if the dollar will weaken and succumb to the movement upward trend, which many traders expect, we can expect growth of figure head and shoulders.
My thoughts on the EUR / USD. After a sharp fall of the price correction is required to follow. Or, according to descending trend will decline to 1.11421, which is a signal point on the buy, or right now, according to the wave theory, will turn, if wave 5 is complete. Also, if there is a breakdown of the level of 1.11421, the next target is 1.1100
As I said on the EUR / USD, the level of support has been achieved (1.11421). Price bounced off him and went up, in accordance with the corrective movement descending trend. At the same time, it seems that this is only just the first wave of upward movement.
I believe that growth is possible in accordance of the bullish trend. According to the wave theory correction in the area 61.8 Fibo, further growth and completion in 50 Fibo resistance. But, for example, I will not trade until I know 100%. Too dangerous. Because the possible continuation of the descending trend to the level 1.1100
