ew-forecast

ew-forecast

NZDUSD continued sharply to the downside after a recent correction in black wave (iv). That said we see price in black wave (v) which can fall down to 0.6800 projected target, where black wave (v) will equal to black wave (i) measured in pips. www.ew-forecast.com

ew-forecast

Cotton is trading in a correction after a 5 wave structure to the downside. The correction may reach the fibo level of 0.382, at blue wave 4 termination point. That said price may reach higher levels to around 72 - 73. www.ew-forecast.com

ew-forecast

Corn is once again testing an important support region at 344 - 346, from where an impulsive bounce may still follow in days ahead. www.ew-forecast.com

ew-forecast

On the Daily chart we see a correction unfolding in black wave (4), that already reached the fibo. level 0.5 of previous black wave (3). After the correction in black wave (4) is completed, price could turn higher.

ew-forecast

On the Daily chart blue wave (b) seems to be over, because of a sharp reversal to the downside. That said we are now expecting more weakness ahead in blue wave (c).

ew-forecast

On the chart black wave (iii) seems to be finished, because of a pullback to around 0.72-0.725 area, reaching the previous blue wave iv. That said after the correction is completed, we expect more weakness ahead. www.ew-forecast.com

ew-forecast

On the 4h chart, price faced a correction in blue wave (4) and went to around fibo. level of 0.382 of the previous blue wave (3). Then price made a sharp impulsive action to the upside, so we assume that blue wave (4) is finished. That said, price may reach higher levels to around 141.77-142.00. www.ew-forecast.com

ew-forecast

The Head and Shoulder pattern on the EURCAD is completed, because price broke the 'neck' line with a sharp action to the upside. That said we are now expecting more bullish moves ahead. We assume that pair will reach Target level 1 around 1.417. But ideally we will see an extensions up to Target level 2. We see pair in bullish mode as long as the price is...

ew-forecast

On the 4h chart, we see that black correction A-B-C is completed, because of sharp impulsive action to the upside. That said price may reach higher levels. It has already made three waves up, with an extended structure in blue wave (3). After blue wave (3) is finished, the trend may face a correction in blue wave (4), which may move to the area of previous red...

ew-forecast

On the Weekly chart we can see that wave 4 is completed, because of sharp impulsive action to the upward. On the Daily chart red wave i may soon be finished, as trend already made four waves up, with black wave (v) still unfolding. That said, we can expect a temporary bearish retracement in upcoming days. After that correction we will expect another leg higher....

ew-forecast

No change, NZDUSD is still looking lower. We assume that price will reach the fibo. level of 1.618.

ew-forecast

On the Daily chart wave (b) may be in the final stages, as red subwave c is near completion. The price reached the fibo level of 0.618 of previous wave (a). That said pair could now be facing a reversal.

ew-forecast

USDJPY remains clearly bullish on Weekly chart. On the Daily chart we see price turning higher again after a correction pattern in wave 4.

ew-forecast

CORN has been bearish for the last three years as we see on the Weekly chart, but that is likely over as A-B-C correction is currently unfolding. The first wave A has already made 5 waves up, which confirms a new bullish cycle. In wave B we can see a zig-zag pattern, that is near completion. We see some significant Fibonacci support levels around 345 on a Daily...

ew-forecast

We see some major indices in final stages of an extended third wave, that could cause a temporary high on stocks, as we expect a deeper retracement in to a corrective wave four. On some of them we also see a wedge pattern in current late stage of an uptrend. It is called an ending diagonal, that usually causes a sharp reversal that may happen sometime this year....

ew-forecast

GBPAUD has turned bullish after a recent correction at 1.93 and reached current high around 1.995. Pair could now be facing a reversal as blue wave 5 could be in final stages. www.ew-forecast.com

ew-forecast

On the weekly chart of DOW Transportations index we can see that market has been trading bullish since the star of 2012. It has made big three waves up so far with an exetended structure in blue wave 3. So now we expect a pullback in wave 4 to 8300 or possibly even down to 8060– 7680 area, where support is seen at previous wave ((iv)). On the Daily chart we see...

ew-forecast

GBPJPY remains clearly bullish on Weekly chart. On the Daily chart we see price turning higher again after a correction pattern in wave (4).