FOREX PRO WEEKLY July 07-11, 2014

[minimax]

gbpusd

I think Cable is ready for last jump above current highs, Daily low swing could be in place..

I believe I was wrong with my lust assumption this was motive wave..it SHOULD NOT be but should be ZZ and we are in impulsive wave c with extended 5th..projected target zone is between 1,7244 and 1,73..above 1,7330 is not impossible but would surprise me and could trigger veryvery fast pullback to stay in channel..

..for this count price must not go below 1,70617 peak of 1st of bigger 5th..

 

[minimax]

eurusd

i decided to remove simpliest count - Running Flat because current congestion lowered probability for it but in case of sudden move up it could stay in play..

Option as Diverging ED has VERY low probability because of lack of space for 4ED, double bottom?..

In my opinion most probable are Converging ED and T3...hehe, and we will not know what will unfold except if current leg goes below 1,3511...

If I compare moves with gbpusd...well eurusd could wait in sideways Cable establishes 3ED and then they go down and later up together..sounds reasonable...

 

[minimax]

gold

I find gold naughty..
very possible Running symmetrical triangle as wave b of 1ED...
1st projected target of an impulse is at 1357,66..



ps
we might just topping D and we are to bottom E soon, not below C @1307,15

ps2
hmmm, Sive, just checked your gold daily analysis and I am not so sure about down...looking at Daily swings I think i/ii/iii/iv are very likely in place and very probably wave v (5th) will unfold as ED...
question is if we are already in 3ED (my 2nd, right option) or just in 3ED of wave c or we would get somemore up&downs in triangle correction of wave b and then start into 1ED..

I think if we go above 1324,71, wave a high, there are more chances we will proceed into new HH, very probable 3ED with target zone 1340..

 

[minimax]

nzdusd

Kiwi upgraded, more fuel 4 upside!

 

[minimax]

Calendar

Hello

Sive, I agree..most of pairs are ´in between´ zones except nzdusd which, for my opinion, has established top of wave a recently..
..we have FOMC minutes and Draghi speech later, again...we might get some volatility and short term trends if FED will give some hints..euro could behave different after Draghi...
..very possible we might get position levels before these events, like you expect on gbpusd and I on nzdusd...from where moves toward targets could start..

Good trading!

 

[kaslanci]

Hi Sive,

Please see below gbp/usd 4hr time frame. Isn`t it bearish stop grabber ? If yes for invalidation of this pattern; is it enough price just pierce the high of grabber candle (like below) or do we have to see price closed over the high of grabber candle.

Thanks.

 

[Sive Morten]

Hi Sive,

Please see below gbp/usd 4hr time frame. Isn`t it bearish stop grabber ? If yes for invalidation of this pattern; is it enough price just pierce the high of grabber candle (like below) or do we have to see price closed over the high of grabber candle.

Thanks.

Yes, it was, but at least theoretically it was erased by next candle, since its high stands above grabber's top. Sometimes it is not enough (close above the top is needed), but if you see that top of the grabber was cleared, it is not safe to rely on it. Better to skip it.

 

[Lolly Tripathy]

EurUsd
Bull Vs Bear
bull


bear

 

[minimax]

gbpusd

I think black iv (4th) is already in place but I am preparing for one more push down in case this could be Flat..I think we could spike below 1,70845, current LL in this congestion where daily swing low could find place..but we should not touch 1,70617, top of 1st of 5th bigger..

 

[minimax]

gold

hehe, what a haste!

I think this is Converging ED, 3rd wave.. current daily target to down side is 1317,69..and to stay in channel!