EURUSD

The Euro-Pound made a correction last Monday which almost reached our expected target at the former 38.2% weekly Fibonacci level and went inmediately back up for the rest of the week, making new highs near the 127% extension of the previous daily swing high. Friday ended on a small doji after a strong rejection from the highs, and…

USDCAD

Price reached near 0.9680 level in the expected direction for the Loonie, however the three last days of the week there has been a significant rejection from the highs. On weekly charts this pair respected the lower trend line of the descending channel and the week was overall bullish but with a 50% retracement, closing above the round…

USDJPY

The Dollar-Yen retested round number 85.00 as expected but barely reached 10 pips above, falling then to the daily SMA200 at 83.50 where price was contained for most of the week, and breaking lower on Friday, reaching the daily middle line of the Bollinger bands at around 83.00, closing slightly above the round number. The pair moved…

EURCHF

Price bounced from the strong resistance level at 1.3200/50 two weeks ago, and as expected in our previous analysis we went last week back down below 1.2900 even further than our targeted area of 1.2880 (1.2840/45). Today’s market extreme volatility at news time brought the pair much lower and we are presently trading at the 1.2720/50…

EURUSD

The Euro-Dollar rose last week above previous week’s apparent double top and made new highs, bringing the weekly rising wedge to a steeper angle. Against our main expectations of two weeks ago, price indeed broke the monthly bearish trend line and November 2010 highs, rising to 1.4520 level from where it is presently doing a small…

Weekly updates: April 08/12 close.

USDCAD

The Loonie continued falling on March though didn’t reach as low as expected (0.9400), making a new low at 0.9526 and closing higher (0.9586) after a 38.2% retracement on the last 4-hour swing low. Earlier this month we have been seeing a recovery and break above this level, making a spike to the 80%…

Weekly updates: April 08/11 close.

USDJPY

The Dollar-Yen fell through previous month lows in March as expected, reaching the lower trend line of the descending channel and lower Bollinger band, near our 76.40 target, being then strongly rejected, rising back and closing near the former highs, at around 83.50. After a retracement near…

Weekly updates: April 01/05 close.

EURCHF

March candle for this pair went back to December 2010/January 2011 lows and retraced again to the upside, reaching one more time the upper trend line of the falling wedge and closing slightly above the 38.2% Fibonacci retracement level on the November/December 2010 swing low. We maintain our…

Weekly updates: April 01/04 close.

EURUSD

March monthly candle almost reached last November highs for the Euro-Dollar and price is still trading below the bearish trend line. It has since made a new high yesterday at 1.4267 but hasn’t retested yet 1.4280. We seem to be having a double top forming in all three time frames (monthly,…

USDCAD

The Loonie had a bearish week after the strong rejection from level 0.9976 and reached the expected consolidation area at 0.9750/30, correcting back for a retest of the daily SMA34 level on Friday. It has since continued its move to the downside and is presently almost reaching previous early March lows, trading at 0.9695. If the…

USDJPY

The Dollar-Yen performed a tighter consolidation than expected, ending on a weekly inside bar which closed at the broken lower line of the triangle at 81.50, and with a push to the daily middle line of the Bollinger bands on Friday after a series of small dojis throughout the week. This week has seen a strong surge towards the daily…

EURCHF

As we had expected, the Euro-Swiss Franc kept rising and ended at about the same level as the previous week open (1.2950/60) reaching the weekly middle line of the Bollinger bands and closing on Friday above the confluence of the daily SMA34 and SMA100. It has since continued on its bullish move and attained our target at 1.3030…

EURUSD

As expected in our previous forecast, the Euro-Dollar went upside to the 138.2% extension three pips short of the target at 1.4250 earlier last week, bouncing then from the resistance to reach 1.4050 and mostly ranging between 1.4230 and 1.4050/60 for the rest of the week. For the last three days this range has tightened and a retest of…

USDCAD

The Loonie failed to break the daily SMA100 resistance at 0.9975 and headed down to retest the upper line of the recently broken weekly descending channel, also coinciding with our first bearish target alternative at the daily SMA34 (0.9820/00). Price ended on a daily pin bar/doji candle above that moving average, and will have to be…

USDJPY

The Dollar-Yen recovered last Friday all of its fall from the beginning of the week, but was again rejected at key level 82.20/00 and stabilised just above 80.70 (61.8% Fibonacci retracement). We were watching 80.00 as the point of possible bank heavy intervention, but the price went through 350 pips further south on Thursday, and only…

EURCHF

The Euro-CHF broke support as expected, completing the weekly head and shoulders pattern, and reaching previous lows from where price was violently rejected back up to a 61.8% retracement on daily charts, and 50% of the weekly bearish move. I would expect a continuation of the upmove towards the upper trend line of the descending…

EURUSD

The Euro-Dollar almost reached last week’s target level, and it would seem there is a strong enough momentum to break the weekly highs and attain the 161.8% Fibonacci extension. On Daily we can see this pair broke its previous highs, and will probably reach 138.2% extension at 1.4250; second target level would be the round number at…

The following is an update on my previous blog article “ Long-Term USDCHF Wolfe Wave? ”.

After all the tweaking I had to do to end up with a not-much-satisfying monthly set of potential Wolfe Waves for the USDCHF, and especially because being mostly an intraday trader the perspective to have a potential profit target lying ahead 2 to 6 years from now was starting to feel quite…

What is a Wolfe Wave?

From a technical point of view, this is a pattern that occurs naturally and can be found in all financial markets. The whole pattern is composed of five waves that show supply as well as demand and their struggle to get to an equilibrium price. We can see them developing over…

As long as price doesn’t break down the 0.9540 level (strong support at November 2010 lows and near the daily SMA200) we can’t really say that we are into a formal bearish reversal yet. And there is another strong support area at the 161.8% extension level from this week’s swing low, which ranges from 0.9460 to 0.9415 approximatively.

 …