The last few days price action looks to have completed a very nice fourth wave in an 5 wave impulse beginning from late August highs. Some of the key factors I would identify are 1) the scale of the moves, the first wave being similar in size and time is not surprising 2) the alternance principle in the retracement waves - 2 versus 4. Typically in a 5 wave set...
If the downward movement continues, a breakout of this support to the 61.8% fib is a possibility, or even go further from here. If a retraction arise, from this Support where we are, or from below (acting as a false breakout of this support), we will look for the last lower lows from structure, around 1.108 or 1.122, however, the 61.8% fib extension from the...
If the AUDNZD is headed to 1:1 then I'll start the move off with this short term trade idea.
Back in July 2014, price broke out of a falling wedge pattern, found resistance at the 1.000 level and following the unpegging of the Swiss Franc, retested the backside of the wedge this January. Since this event market sentiment on the dollar has been incredibly bullish, pushing price through the parity resistance within the last week. It has since been failing...
If you have been short EUR/USD or buying FXE puts, for this last move its time to scale out and take profits. Tomorrow morning we will have a volatile whip lash as the ECB is likely going to announce QE. There have already been reports of leaking news concerning the size and scope of the QE. Bloomberg has even mentioned a delayed start date, March 1st. From...