FOREX PRO WEEKLY July 28-01 August, 2014

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Market Insight

Dollar index
Pushing up..still think will exceed 81,84 peak before retrace..maybe at ADP or GDP..




eurusd
looks like 1,3380 before retrace..
picture in previous post about eurusd


gbpusd
I like checking others analysis to check mine...changed my count a bit, looks much better...2 targets at 1,6917




usdjpy
this one is strange..pushing and pushing..probably we are in 5th...but possible also pullback to 101,9 before last push up...well, I think we are topping and will not break above 102,25

 

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usdjpy update

had to reevalute it...or we are in D3 or in Flat, so, we could be in last leg or we make swing down and last leg up...103 is untoucheble...here, with w high 102,78 could also be E of CT zone...I do not like it too much becaus eof monthly but weekly is acceptable..

 

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usdjpy update

..loking at dollar index i expect one more push up especially on usdjpy not so much on others..

usdjpy..if price comes above 102,786 high, then i think correction is ended as D3 and we will go below 100,747..if stays below and retraces then we might get 5 waves c of cF..

we will see, I expect before FOMC or exactly at FOMC..



eurusd, gbpusd and usdcad have hit targets already, audusd is just above as usdjpy just below, nzdusd is relatively calm just below target...gold is suspicious, could be ZZ on H4 and we are headed down or 2 of an impulse to up side...

 

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Market Insight update

- dollar index hit target; projected is slightly higher



- usdjpy could or not, I think not and it will come up again as an impulse, PRZ a tick above up to 103,024..




- all the others have hit was to hit was

- audusd is turn to downside, I read it as such so has not target below but up again to finish short pattern..


God luck with fastfingers at FOMC!

 

[Venelin]

A modest try to do some EW analysing in cable 1h chart:
View attachment 16153
Time for longs?

 

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A modest try to do some EW analysing in cable 1h chart:
View attachment 16153
Time for longs?

yes, I think it is...but cable is more dangerous than usdjpy where risk is under control...

 

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gbpusd insight

price should not touch channel or HH is likely in place...about 50-60 pips stop..usdjpy only 25-30

 

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gold update

this one makes me thinking!

above 1303 I treat it long...

 

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usdjpy insight

well, my jaws fell off to the floor yesterday...

Lenght in time was suspicious, weekly high swing was expected although not wellcome but Monthly swing ruined my count totaly...

I am not exactly bullish but must expect more up after some retrace..main questions are:
- are we in Flat as wave y (pink) where we could expect shorter retrace, probably spike above current high first (we are currently hidding behindyesterdays candle so its High and Low are important), and move which really could challenge 114,11 peak but target ought to be 50% at 103,09, so just W&R..estimated time more than a week fastest
- are we in wave b as Flat and from 100,81 low we are buliding ED wave cF..in this case we should get retrace below 101,78 as 4ED and into 5ED IF move would not be too fast&short on weekly and accepted as DZZ and as 3ED..

So, lets see if we get W&R of current high today/tomorrow and then how NFP will impact to price action...



Here is the 3rd option...it goes with pink one nicely..we are in 2ED Flat corrective and 104,11 should remain intact...

 

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eurusd insight

Yes, GDP was fantastic...

Agree, Sive, PA is not showing signs of reversal or bigger retrace...usdjpy shows up potential so eurusd might go lower, but I think not a lot...

I reevaluted my count...fact is we are in PRZ, fact is we are in Flat wave b zone above 1,3304 but I still think we will make ED..262 expension of c=a is at 1,3323, 162 expansion 5=1 is at 1,3344 and there comes 100% channel expansion of ab around 1,3320..there either could be c or 3...There, at 1,3320, I expect reversal and then depends if we go above 1,3548 or not, that could fortell with high probability if we are in an impulse due South or in some other pattern which could drive as higher, sooner or later...my target, based on assumption of Diverging ED, is above 1,3575 and above red upper channel line...above 1,3650 would tell that we are in Flat and we are to attack 50% at 1,3747...

ATM we could start swinging and forming ED 5th...above 1,3443 before we make expected low could mean we bottomed c or 3 but will not tell if we are in an impulse or in expected ZZ ...