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Elliott Wave View: DJIA Futures (YM_F) Should Extend Higher

Short term Elliott Wave view on Dow Jones Future (YM_F) suggests that rally from March 9, 2019 low is unfolding as a 5 waves impulse Elliott Wave structure. In the chart below, we can see wave (2) ended at 25377. Wave (3) remains in progress and subdivides in 5 waves of lesser degree. Up from 25377, wave 1 ended at 25822, wave 2 ended at 25441, wave 3 ended at 26302, and wave 4 ended at 26140.

Wave 5 of (3) is currently in progress as a 5 waves. Up from 26140, wave (i) ended at 26324 and wave ((ii)) ended at 26196. Near term, while pullback stays above 26140, expect the Index to extend higher to end wave 5 of (3). Index should then do a larger pullback in wave (4) to correct cycle from March 25, 2019 low. Afterwards, as far as pivot at 25377 low stays intact, expect Index to extend higher again in wave (5). We don’t like selling the Index.

1 Hour YM_F Elliott Wave Chart Asia Update

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Elliott Wave View: Further Strength in FTSE

Elliott Wave view on FTSE calls the rally from February 28, 2019 low (7041) as an impulse Elliott Wave structure. An impulse is a 5 waves structure with wave 1, 3, and 5 all subdivide in 5 waves of lesser degree. Up from 7041 low, wave 1 ended at 7370.6 and wave 2 ended at 7146.29. Wave 3 remains in progress and subdivides as 5 waves of lesser degree. Up from 7146.29, wave ((i)) ended at 7222.64, wave ((ii)) pullback ended at 7160.14. Index resumes rally in wave ((iii)) at 7461.39, and wave ((iv)) ended at 7420.41. Short term, Index has scope to extend higher 1 more time in wave ((v)) before ending wave 3.

Afterwards, Index should pullback in wave 4 before the rally resumes in wave 5. Wave 4 should correct wave 3 rally from 7146.29 low and expected to complete at 23.6-38.2 Fibonacci retracement. Once wave 3 is complete, we can then project wave 4 potential area. We don’t like selling the Index and expect buyers to appear to buy dips in 3, 7, or 11 swing as far as pivot at 7146.29 low stays intact.

1 Hour FTSE Elliott Wave Chart Asia Update

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Elliott Wave View: Nikkei Still Missing Wave 5

Short Term Elliott Wave view on Nikkei Futures suggests the pullback to 20704 ended wave (2). The Index then resumed higher in wave (3) which ended at 21985. The internal of wave (3) subdivided as an impulse Elliott Wave structure. Up from 20704, wave 1 ended at 21415, wave 2 ended at 20985, wave 3 ended at 21765, wave 4 ended at 21490, and wave 5 of (3) ended at 21985. We can also see the internal of wave 1, 3, and 5 all subdivide as an impulse (5 waves) of lesser degree. This is an illustration of fractal within Elliott Wave where each wave consists of smaller waves and the pattern repeats indefinitely.

Wave (4) dips appears complete after a 3 waves pullback ended at 21427 – 21583 blue box area. The internal of wave (4) unfolded as a zigzag Elliott Wave structure where wave A ended at 21735, wave B ended at 21835, and wave C ended at 21565. At this stage, Nikkei still needs to break above wave (3) at 21985 to avoid a double correction in wave (4). While dips continue to stay above wave (2) low at 20704, expect Index to extend higher in wave (5).

1 Hour Nikkei (NKD_F) Elliott Wave Chart Asia Update

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Elliott Wave View Favors More Upside in Facebook

Elliott Wave view on Facebook (ticker FB) suggests that the rally from March 19, 2019 low is unfolding as an impulse Elliott Wave structure. In the 1 hour chart below, we can see wave (2) of this impulse ended at $161.99. The rally from there to $179.19 ended wave (3). Internal of wave (3) subdivides as an impulse of lesser degree. Up from $161.99, wave 1 ended at $169.45 and wave 2 pullback ended at $163.33. The stock extended higher in wave 3 to $178, wave 4 ended at $174, and wave 5 of (3) ended at $179.19.

Wave (4) pullback is now in progress to correct cycle from March 25, 2019 low (161.99) in 3, 7, or 11 swing before the stock resumes higher again. While staying below $179.19, the stock has a chance to turn lower in wave (4) as a double correction. If the stock breaks above $179.19 from here, then it can still be part of wave (3) in extended wave 5. We don’t like selling the stock and favor more upside as far as pivot at $161.99 stays intact.

1 Hour Facebook (FB) Elliott Wave Chart Asia Update

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Elliott Wave Structure Suggests XLE Topping Soon
April 11, 2019 By EWFJames (Edit)
XLE Topping Soon
Taking a look at the recent Elliott wave structure in XLE suggests a top may be near. Starting from the 12/24/18 low at $53.25 the energy ETF shows a 5 wave impulse in wave (A) to $66.93 on 2/20/19. From there we count a 3 wave correction to the (B) wave low at $63.31 on 3/8/19. So we see 5 waves up followed by 3 back. This sequence gives a clue for practitioners of Elliott wave on what to expect next. The most likely structure playing out is that of a zigzag. This pattern is characterized by the 5-3-5 structure within its subwaves.
It is the structure from this (B) wave low that we are giving the most attention. The overlapping nature of the price action from $63.31 suggest an ending diagonal wave (C). In an ending diagonal we need 5 overlapping waves before completion. Since we only count 3 waves from the 3/8/19 low the structure has yet to be confirmed.
XLE ZigZag

XLE 4 Hour Bar Chart From December 24, 2018 Low
A Closer Look
Waves 1, 2, and 3 of the ending diagonal are complete and now we look for wave 4 to end above the wave 2 $64.87 low of 3/25/19. Looking at the chart below we look for wave 4 to end with one more push lower above $64.87 before turning higher for wave 5. This will be confirmed by moving above wave 3’s 4/8/19 high, $68.25. Consequently a push below $64.87 before the new high would suggest that the entire cycle from the 12/24/18 lows has ended. Let’s see how this plays out over the coming sessions.

XLE 1 Hour Bar Chart 4/10/2019
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James
Elliottwave-Forecast.com Analytical Team

Gold Miners (GDX) Ready for Breakout
April 10, 2019 By EWFHendra (Edit)
Gold miners as a group is unpopular since it topped in 2011 together with Gold. One well-known Index which represents major Gold Miners is the GDX. The Index topped in 2011 at $67 and declined a massive 81% before forming a low in 2016 at $12.40. None of the ample liquidity from central bank’s money printing moves to the Gold Miners in the past 10 years. The Index remains depressed at low level while major indices, techs, crypto-currencies, cannabis all propel higher in a parabolic move.
Unsurprisingly, Gold Miners remain to be one of the most hated sectors. Sentiment to the sector is still very low, but is it about to turn? In this article, we will take a look at a couple of charts to see if they are ready to move higher.
Overlay Chart of GDX-to-Gold Ratio and GDX

The chart above is an overlay chart of GDX-to-Gold ratio and GDX in logarithmic scale. The upper chart is the GDX-to-Gold ratio while the lower chart is the Gold Miners ETF. We can see a couple of things from the above chart:

1. A positive correlation between the two charts. They share the same oscillation and move together (up and down) in tandem. This suggests when the ratio is going higher, then Gold Miners is also going higher. The opposite is also true when the ratio goes lower, Gold miners also goes lower.
2. GDX-to-Gold ratio (the upper chart) is retesting the bearish trend channel from October 2007 high. A break above this bearish trend line suggests that the Gold Miners Index will outrun Gold to the upside due to rising ratio. A break above the bearish trend line also suggests the Gold Miners should go higher due to the positive correlation.
3. The GDX chart (the lower chart) has already broken the bearish trend line from August 2011. This is the same bearish channel in Gold (XAUUSD / GLD) as well after it topped in 2011. This suggests the Gold Miners is ready to recover and rally more.

Weekly Elliott Wave Chart of GDX-to-Gold Ratio

From the chart above, we can see that since it formed a low on January 18, 2016, the rally in the GDX-to-Gold looks impulsive and ended wave A / 1 on August 2016. After that, the ratio is in a protracted pullback & possibly ended wave B /2 already on September 2018. The ratio has since broken the descending bearish channel suggesting the next leg higher (wave C / 3) has already started. It still needs the confirmation by breaking above wave A/1 high, but the outlook looks constructive and promising.
We can conclude from the above two charts that Gold Miners could soon make a move to the upside, especially if we can see the GDX-to-Gold ratio breaking above the 2007 trend line. For regular Elliott Wave update on GDX, Gold, Silver, or other instrument, you can try our 14 days FREE Trial.

Sony Corporation (NYSE: SNE) Impulsive Structure Since 2012
April 10, 2019 By Ayoub Ben Rejeb (Edit)
Sony Corporation (NYSE: SNE) is a Japanese multinational conglomerate corporation. The Company has a diversified business primarily focused on the Electronics, Games, Entertainment and Financial Services.
In this article, we’ll be looking at the technical Elliott Wave structure of the stock since late 2012 after a significant drop in Yen value which helped the Japanese stock market to start a recovery.
SNE have been rallying in the recent 7 years with an impulsive Elliott waves structure and the incomplete bullish sequence is still suggesting further upside for the stock as long as 2016 pivot at $19.9 holds. We use our proprietary pivot system to tell us when a cycle has ended & when we need to switch to a different degree, therefore Sony can still aim higher for $65 – $73 area before another correction takes place.
Sony SNE Weekly Chart

Since October 2018, the stock corrected lower in a classical 3 waves zigzag structure and reached the extreme blue box area $42.6 – $39.8 which is a High-frequency area where markets are likely to end cycles and make a turn. Up from there, SNE started bouncing higher ending the cycle from the peak and initially resuming the main daily bullish trend or doing a 3 waves bounce at least.
Sony SNE 4H Chart

Recap:
Sony impulsive structure since 2012 will remain intact as long as pivot at 2016 low $19.9 holds and short term support stands at March 2019 low $41.9. Consequently, the stock can see a recovery back toward $51 – $53 to clarify the short term structure then it can attempt to break 2018 peak.

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Filed Under: Stock Market

Elliott Wave Analysis: USDSEK Rallying From Blue Box Area
April 10, 2019 By EWFEverardo (Edit)
Welcome traders, today we will look at a couple of USDSEK pair charts.The following analysis will show how profitable and efficient it can be to trade with our philosophy and basic Elliott Wave analysis.
First of all, we start on March 19 2019 with a 4-hr chart presented to our members. At the time, we maintained a bullish perspective due to our Elliott Wave analysis. Moreover, an incomplete bullish sequence to the upside (green bullish stamp). The top shown below labeled as wave ‘A’, serves as a resistance after finishing a 5 wave move. From there, according to Elliott Wave theory, we expect a pullback. Due to the straight down pullback, followed by 2 bounces failing to break wave ‘((A))’, it led us to believe 3 swing pullback was developing. More specifically, a ((w))-((x))-((y)) double Elliott Wave zigzag structure forming for wave ‘B’.
Under our methodology, our members are encourage to take action with a confirmed ‘right side of the market’. This is the meaning of the green ‘RightSide’ arrow. So, we let the market shows itself and we adapt our count to make sense of the price action. When wave ((x)) is confirmed, a 1:1 minimum target and a 1:1.618 extreme target is derived. These targets are combined to provide a high probability area for a reversal (this are is illustrated as a blue box). To add to this, a crucial rule in our methodology is a sequence must finish as a complete 3,7 or 11 swing move. So, based on this, our members are fully encouraged to take long position in this particular case.
USDSEK 3.19.2019 4-Hr Chart Elliott Wave Analysis

Below you can see an updated chart of the instrument from April 7th. Notice how the pair reacted off of the blue box target area and resumes the upside. Our members took a long trade from 9.117 in Live Trading Room and now has a risk free trade with stop at break even. At this stage however, the pair is no longer at extreme area so we don’t recommend opening a new position. Pair now needs to break above wave (1) to avoid a double correction. Trading is always about taking a chance. But, what can be better than taking a chance with probabilities on your side. With a mapped entry, an invalidation level set up, the right side, sequences, add up to great trading opportunities. Waiting for the right signals proved to be successful and we got the proposed reaction as expected.
USDSEK 4.7.2019 4-Hr Chart Elliott Wave Analysis

*Note : The market is dynamic and our view is bound to change after date posted.
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GBPJPY : Will Pair Continue Lower?
April 10, 2019 By EWF Aidan (Edit)
GBPJPY Technical Analysis April 10/2019
GBPJPY : Bearish market patterns can be seen on the GBPJPY 4 hour chart. In the chart below a blue bearish Head and Shoulders pattern is visible and price has already broken below the Neck Line which can be signalling for more possible downside in the coming trading sessions. As long as the right shoulder of the H&S pattern remains intact it is highly possible that GBPJPY will continue lower. A break above the high of the right shoulder will invalidate the blue bearish pattern. If price stays below the high of the right shoulder and pushes lower traders will then need to watch for the break below the orange descending triangle pattern. A break below the orange triangle pattern will confirm that sellers are in control and price will continue lower and hit the targets below. Another added confirmation will be if price respects the light blue 50 moving average before the sell entry breakout. Price respecting the moving average before the sell breakout entry will signal that possible trend to the downside is still going on which started from the March 14/2019 high. If looking to trade GBPJPY traders will need to watch if price stays below the April 9/2019 high and SELL on the break below the April 9/2019 low (green sell entry). If this happens then stops should be placed at the high of the right shoulder (April 9/2019 high). If price breaks above top of right shoulder before the green SELL break entry then the sell trade setup is cancelled. There is UK news release coming later today at 4:30am EST so trade safe and only SELL GBPJPY if the patterns stay intact.
GBPJPY 4 Hour Chart 4.10.2019

Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on Twitter for updates and questions> @AidanFX or chat me on Skype > EWF Aidan Chan
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Silver Elliott Wave View: Bearish Sequence and Invalidation
April 9, 2019 By Daud Bhatti (Edit)
Silver has been bouncing since making a marginal new low on April 4, 2019. We publish a free Chart Of The Day from visitors of our websites every day from Monday – Friday. We showed Silver 1 Hour Elliott wave count in 3.29.2019 Chart Of The Day and forecast was for another low to complete 5 waves decline from $15.63 peak followed by a bounce and lower again. Below chart is from 3.29.2019 that we presented as Chart Of The Day.
Silver 1 Hour Elliott Wave Count – 3.29.2019

Wave ((iv)) bounce failed as expected and it resulted in a new low to $14.88 on April 4, 2019. This low was below wave ((iii)) low $14.95 and hence it met the minimum requirements for a 5 waves decline from $15.63 peak. According to Elliott Wave Theory, after a 5 waves impulsive decline, a 3 waves correction should take place. Now, let’s take a look at the latest 1 Hour chart of Silver from the members area.
Silver 1 Hour Elliott Wave Count – 4.9.2019
Chart below shows the expected 3 waves corrective bounce is taken the form of a Zigzag Elliott wave structure. A zigzag is a 5-3-5 structure labelled ABC, both waves A and C are 5 waves (impulse or diagonal) and wave B could be any corrective structure. In the current wave ((ii)) bounce, wave (a) ended at $15.17, wave (b) ended at $15.04 and wave (c) has entered the blue box reaching the minimum target at $15.33. It can still make another high within the blue box but should ideally hold below $15.52 and then resume the decline in wave ((iii)) or make a larger 3 waves pull back at least to correct the cycle from $14.88 low. Invalidation level for this Elliott wave count is at $15.63 and as far as that level is holding, expect Silver to resume the decline in wave ((iii)) of C.

Palladium ( $PA_F) Forecasting The Path
April 10, 2019 By EWF Vlada (Edit)
Hello fellow traders. In this technical blog we’re going to take a quick look at the charts of Palladium Futures published in members area of the website. As of right now Palladium is giving us nice reaction from the Weekly Blue Box area. We’re calling August 2018 cycle completed at 1577 peak and now getting deeper pull back. The price is showing incomplete swings sequences in the cycle from the 1577.07 peak suggesting further separation lower . Break of 03/28 low has opened possibility for further extension downside. Consequently the commodity is now targeting 1137.8 area. In further text we’re going to explain the Elliott Wave structure and forecast.
Palladium Elliott Wave Weekly Chart 1.17.2019
In the yearly forecast, we were looking for a August 2018 cycle to end in blue box (1503 – 1664 as noted on the chart) and a reaction lower to take place. We were looking fora larger pull back that will correct the cycle from the 816.01 low at least. As our members know, Blue Boxes are no enemy areas , giving us 85% chance to get a reaction.
Eventually Palladium reached proposed blue box in weekly chart and August 2018 cycle ended at 1577.07 high.

Now,let’s take a loot at the short term price structures.
Palladium Elliott Wave 1 Hour Chart 4.4.2019
The price ended short term cycle from the 1577.07 peak as 5 waves structure, labeled as wave ((A)) black. We ended clear 3 waves bounce against the 1577.07 high, hence short term recovery can be counted completed as ((B)) black. Now we need to see break below wave ((A)) – 03/28 low to get confirmation next leg down ((C)) is in progress.

Palladium Elliott Wave 1 Hour Chart 4.5.2019
The price has broken 03/28 low. Consequently , the commodity is now showing lower low sequences down from the 1577.07 peak. Palladium became bearish against the 1413.84 pivot. Seems like we are ending 5 waves down from the mentioned peak most likely. Consequently we are calling for further weakness. We expect short term bounce to correct the cycle from the 1413.84 high before further decline takes place. Proposed bounce should ideally reach 50-61.8 % Fibonacci Retracement area.

Palladium Elliott Wave 1 Hour Chart 4.10.2019
Finally we got proposed bounce. The price is correcting the cycle from the 1413.6 high, when recovery is labeled as ABC red Zig Zag Pattern. As of right now we can still be in C red that can be unfolding as ending diagonal. As far as the price stays above bottom wedge line, we can get another short term high in wave ((v)) of C . We don’t recommend buying Palladium and favor the short side against the 1413.61 peak. Alternatively if 1413.61 pivot gives up, we can be doing Irregular Flat against the 1577.07 peak toward 1402-1469 area.
Keep in mind market is very dynamic and proposed view could have ended in the mean time. You can check most recent updates in the Membersip Area of the Website . Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.

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Elliott Wave View: Silver Extending Lower

Short term Elliott Wave view on Silver (XAGUSD) suggests that the decline from February 21, 2019 ($16.21) is incomplete. Structure of the decline from $16.21 is unfolding as a zigzag Elliott Wave structure. Wave B of this zigzag structure ended at $15.63. Wave C lower has started and should subdivide in 5 waves. Down from $15.63, wave ((i)) ended at $14.88 and wave ((ii)) ended at $15.34. The internal of wave ((i)) subdivides as 5 waves of lesser degree. Wave (i) of ((i)) ended at $15.35 and bounce to $15.58 ended wave (ii) of ((i)). The metal then turned lower in wave (iii) of ((i)) and ended at $14.95. Wave (iv) of ((i)) ended at $15.16 and wave (v) of ((i)) ended at $14.88.

Bounce in wave ((ii)) unfolded as a zigzag Elliott Wave structure in lesser degree. Wave (a) of ((ii)) ended at $15.8, wave (b) of ((ii)) ended at $15.08, and wave (c) of ((ii)) ended at $15.34. Silver has since resumed lower and broken below wave ((i)) at $14.88, suggesting the next leg lower has started. We don’t like buying the bounce and expect bounce should find sellers in 3, 7, or 11 swing as far as pivot at $15.63 stays intact.

1 Hour Silver (XAGUSD) Elliott Wave Chart Asia Update

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USDMXN Is Holding Down the USDX from Rallying
April 11, 2019 By EWFEric (Edit)
In today’s blog, we will have a look between the relationship of the Dollar Index and the Mexican Peso. The USDMXN has been trading in the same direction as the Dollar Index and both have peaked in January 2017. As you can see in the following chart below.

Dollar Index vs USDMXN 04/11/2019 Weekly Chart


The USDMXN developed a 5 waves decline from the January 2017 peak. Accordingly, to the Elliott Wave Theory, that means that the sellers are in control. Because after the 3 waves pullback, there should be more downside to completed an ABC pattern. Which is an Elliott Wave Zig Zag structure as the internals has been unfolding as a 5-3-5. The chart below illustrates the Theory.



Now let’s have a look at the USDMXN in the daily chart. Below you can see the Elliott Wave Theory labels presenting the ABC idea.

USDMXN 04/11/2019 Daily Elliott Wave Chart


The Mexican Peso clearly unfolded as an impulsive structure from its January 2017 peak. And it ended the 5 waves impulsive structure in the red wave a. Then it did a 3 waves correction higher in red wave b. But it was expected that sellers should take over at our blue box extreme area. Which came at around 20.406-20.988 area. From there it reacted nicely to the downside and created another 5 waves lower.
The Peso has topped at the 12/2018 peak. Which is the same peak in the Dollar Index. Below from there, it opened another leg lower breaking the 1./2019 low. Creating 2 degrees of bearish sequences with the target of 18.13-17.53 area first and then 16.37. In the video below we explained the idea.

WYNN Resorts Ltd. stock soaring Higher, Can It Continue?
April 10, 2019 By EWFSanjay (Edit)
Hello fellow traders. In today’s blog, we will have a look at the recent price action of the WYNN Resorts Ltd. stock. The stock is listed in the Nasdaq 100 and the S&P500.
WYNN Resorts Ltd. is an American company which is based on the Las Vegas Strip in Nevada. It is an operator of high-end hotels and casinos. It was founded in 2002 from billionaire Steve Wynn. An American real estate businessman who is known to be involved in American luxury casino and hotel industry.
In the last couple of days there where some rumors going on about a possible Company takeover. WYNN Resorts has been planning to buy Crown Resorts. Which is Australia’s largest entertainment and gaming group. Crown Resorts has a market capitalization of over $8.7 billion.
Due to the possible takeover, the WYNN Resorts and the Crown Resort stocks have been soaring higher in the last couple of days. Which you can see below.

WYNN Resorts Ltd. vs Crown Resorts


Now let’s have a look at the technical perspective and the possible upside targets mainly in the WYNN Resorts stock.

WYNN Resorts Ltd. 04.10.2019 Daily Chart Analysis


In the chart above you can see that the stock clearly ended the cycle from June 2018 peak at its December 2018 low ($89.98). Above from there, it managed to break the descending trendline and that was the first indication of a bigger bounce in process. Last week it managed to break the 02/25/19 peak ($133.49) making it a higher high sequence. Now with the recent break higher. The cycle from 12/25/18 low is now incomplete. Which means it should ideally see the equal legs extreme area from 12/25 low. Which comes towards $157.39-$167.61 areas. Where sellers can be waiting again for a 3 waves reaction at least.
With the possible takeover of Crown Resorts. WYNN notched over 30%. Making it bullish against 03/27/19 low ($112.93). As long as it stays above that low. It should be supported in the sequences of 3-7 or 11 swings, targeting the $157.39+ areas. This can coincide with the latest bullish fundamental news about the Company as well. Helping the stock for further recoveries.

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Elliott Wave View: S&P 500 Futures Eyeing New All-Time High

Short term Elliott Wave view on S&P 500 Futures (ES_F) suggests that the rally from March 9, 2019 low (2726.50) is unfolding as a 5 waves impulse Elliott Wave structure. The Index is now within wave (3) which subdivides in 5 waves of lesser degree. In the chart below, we can see wave 3 of (3) ended at 2899.5 and wave 4 of (3) pullback ended at 2877.61.

Short term, expect the Index to extend higher towards 2918.54 – 2924.12 to end wave 5 of (3). Subdivision of wave 5 is unfolding as a 5 waves impulse of lesser degree. Up from 2877.61, wave ((i)) ended at 2900 and wave ((ii)) pullback ended at 2885.25. Rally to 2914.75 ended wave ((iii)), and wave ((iv)) ended at 2900.50. Wave ((v)) of 5 is in progress towards 2918.54 – 2924.12. Afterwards, Index should end wave (3) and pullback in wave (4) to correct cycle from March 25, 2019 low before the rally resumes. The pullback in wave (4) is expected to stay above March 25, 2019 low (2790.25) for further upside. We don’t like selling the Index.

1 Hour S&P 500 Futures (ES_F) Elliott Wave Chart Asia Update

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EURJPY On The Path To Fresh 2019 Highs
April 17, 2019 By EWFJames (Edit)
EURJPY Targets 2019 Highs
The EURJPY has been on bullish footing as of late. Since the 123.64 low of 3/27/2019 the Forex pair is up nearly 300 pips as of this printing. The current Elliott Wave structure from the cycle low of 1/3/2019 supports this near term bullish thesis, but we see it overall as corrective. We are charting prices to push above a key pivot at the 127.50 high of 3/1/2019 soon.
The Current Elliott Wave Structure for EURJPY
From the 118.66 low of 1/3/2019, we are labeling ((W)), EURJPY moved higher in 3 waves to the 127.50 high of 3/1/2019. We are labeling that high a one lesser degree, wave (W). Afterwards another 3 waves is on the chart to the 123.64 low of 3/27/2019, wave (X). From there we look higher for another 3 wave affair for wave (Y) to finish the wave ((X)) above 127.50. Ideally this next wave reaches equality in length for (W)=(Y). If so, this projection places the target for the Forex pair at 132.50.
This structure we are projecting from the 118.66 low is an Elliott wave double-three correction that labels as a “w-x-y”. This structure is also known by its distinctive 3-3-3 pattern as one denotes by a count of the subwaves within the internals of the overall correction.

EURJPY Current Elliott Wave View
Confirmation
We will not see confirmation of this analysis until we push above the 127.50 high. So, in the near term while price action remains above 123.64 we hold on to the view that EURJPY pushes toward its measured target. Will EURJPY reach 132.50? How will we know when and where to buy to catch some of this move? Want more in depth analysis of this Forex pair? Check our a FREE 2-week Trial Subscription of our Group 1 Services to receive full access to all updates.

Trade Safe Out There
James

NIKKEI ( $NKD_F ) Incomplete Bullish Sequences Calling The Rally
April 16, 2019 By EWF Vlada (Edit)
Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of NIKKEI . As our members know, NIKKEI has had incomplete bullish sequences in the cycle from the December 26th 2018 low. The Elliott wave structure had been calling for further strength targeting 22213 + area. Consequently, we advise members to avoid selling NIKKEI , favoring the long side in short term. In further text we’re going to explain the Elliott wave structure and the forecast.
NIKKEI 4 Hour Elliott Wave Analysis 4.10.2019
As we can see on the chart below , NIKKEI is showing incomplete sequences in the cycle from the December’s low. Current structure is suggesting we’re doing 7th swing from the 12.26. low. At the moment, futures is still missing the equal legs area, marked as a blue box ( 22213 -23475). Proposed December’s cycle is unfolding as Elliott Wave Double Three Pattern , labeled as WXY red. We are currently doing ((C)) black of Y red which is 7th swing. We don’t recommend selling the index at this stage and favor the long side against the 20656 low.

Now, let’s look at the short term price structure.
NIKKEI 1 Hour Elliott Wave Analysis 4.10.2019
NIKKEI has given us wave (4) Blue pull back, that has unfolded as ABC red Elliott Wave ZIG ZAG Pattern. The Index is bullish against the 20704 low and we favor the long side. Short term pull back has reached blue box area at : 21583-21427 ( buyers zone). As the pull back is showing enough number of swings from the peak, we are calling it completed at 21567 low. We are already getting reaction from there, however need to see further separation from the current low. As our members know, Blue Boxes are no enemy areas , giving us 85% chance to get a bounce. The main trend is bullish and we expect to see reaction in 3 waves up from the blue box at least. As soon as the bounce reaches 50 fibs against the B red high, buyers should make long positions risk free and let the profit run.

NIKKEI 1 Hour Elliott Wave Analysis 4.16.2019
Buyers appeared right at the blue box when Elliott Wave ZIG ZAG completed at 21567 low. We got expected rally and break of 04/08 peak. As a result members who took long trades are now enjoying profits in risk free positions. The price is now ending short term cycle from the 21567 low as 5 waves structure and we could see 3 waves pull back soon. We should keep in mind that minimum target is already reached at 22213 . However proposed extension higher in NIKKEI is possible due to correlation with some European Indexes , like FTSE and IBEX that are still showing incomplete sequences in Equivalent cycles
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Low New Zealand Inflation Rate Increases Chance of a Rate Cut
April 17, 2019 By EWFHendra (Edit)
New Zealand CPI (Consumer Price Index) only grew by 0.1% in the three months to March with annual increase of 1.5%. This is well below the 0.3% rate expected by the market. The RBNZ (Reserve Bank of New Zealand) annual inflation target is between 1%-3%. The latest result falls at the lower end of the range. This has raised speculation that the RBNZ may cut official interest rate as early as next month.

Last month, the RBNZ gave an explicit easing bias to suggest that it’s likely to cut overnight cash rate (OCR) again. The central bank said: “Given the weaker global economic outlook and reduced momentum in domestic spending, the more likely direction of our next OCR move is down.” Today’s data further supports the view that the central bank could cut the COR as early as May. The New Zealand Dollar fell by one full US cent immediately before the release.
The combination of strong Chinese data beating expectations and weak New Zealand CPI also gave AUDNZD a strong push higher.
AUDNZD Daily Elliott Wave Chart

AUDNZD shows an incomplete bullish sequence from 1.3.2019 low favoring more upside. The rally looks to be unfolding as a zigzag Elliott Wave structure. Pair can continue to extend higher within wave (C) towards 1.092 – 1.108 which is 100% – 123.6% Fibonacci extension of wave (A). Pullback should now hold above wave (B) at 1.0276 in 3, 7, or 11 swing for further upside. Technical outlook of AUDNZD therefore also supports a weak New Zealand Dollar.
AUDNZD 4 Hour Elliott Wave Chart

The 4 hour chart above shows the internal of wave (C) of the zigzag from 1.3.2019 low. The internal subdivides as a 5 waves impulse Elliott Wave structure. Up from wave (B) low at 1.0273, wave 1 ended at 1.0338 and wave 2 ended at 1.03. Wave 3 rally is in progress and also subdivides in 5 waves of lesser degree. Expect pair to continue to find support in the dips in 3, 7, or 11 swing as far as pullback stays above 1.027 low.
Conclusion
A soft CPI data increases the chance of a rate cut by RBNZ next month. The central bank has given the hint of further easing last month and today’s data may seal the deal. From technical side, Elliott Wave view in AUDNZD supports further upside in the pair while above 1.027. This technical outlook aligns with the fundamental view that New Zealand may weaken due to expected OCR cut.
Keep in mind that market is dynamic and the view may have changed since the writing time of the article. For the latest technical update in AUDNZD and other instrument, feel free to take the 14 days FREE trial.

Intel Corporation (INTC) Bullish Structure Favors More Upside
April 17, 2019 By Ayoub Ben Rejeb (Edit)
Intel Corporation (NASDAQ: INTC) is second largest and second highest valued chipmakers in the world. It designs and manufactures microprocessors and platform solutions for the global personal computer and data center markets.
Looking at the company’s Fundamental situation, its return on Total Capital is 23.43 and its Return on Invested Capital has reached 20.60%. Its Return on Equity is 29.33, and its Return on Assets is 16.76. Intel’s year on year earnings growth rate has been positive over the past 5 years and its 1-year earnings growth exceeds its 5-year average (118.2% vs 8.3%).

All the above metrics suggest that Intel is well organized in using the earned money to generate more returns which is reflected on its stock performance as it remains one of investor’s favorite.
Based on Elliott Wave Theory, INTC is rallying in an impulsive waves structure since 2008 low and cycle is extending higher within the strongest 3rd wave. As presented on the Monthly chart, the stock is looking for the target area at $61.24 – $67.05 to end wave III followed by a pullback in wave IV then again the stock will resume the move higher.
INTC Elliott Wave Monthly Chart

Consequently, the mid-term focus will be on the current cycle from October 2018 and December 2018 lows. INTC is already showing 5 waves up from $43.35 low and reached the minimum target area $59 – $63. Short term buyers needs to be careful at this stage as 3 waves pullback can be seen due to take profit.
A correction in wave (4) is expected to find buyers in 3, 7 or 11 swings as long as the pivot at December 2018 low remains intact for the stock to continue the rally higher as a 5 waves structure from October 2018 low.
INTC Elliott Wave 4H Chart

In conclusion, Intel Technical and Fundamental picture is strong in both sides and the stock is aiming for further gains in the future. Therefore Investors are advised to watch INTC closely for buying opportunity during the next Daily pullback.
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Elliott Wave View: Further Correction in Gold Expected

After forming a high on February 20, 2019 at $1346.75, Gold has continued to correct lower. The structure of the pullback from February 20 high appears incomplete. This suggests further downside is possible. The decline is unfolding as a zigzag Elliott Wave structure where the yellow metal is currently within wave C. In a zigzag, typically wave C is equal in length to wave A. A 100% – 123.6% Fibonacci extension in wave C can see the metal reaching $1242.31 – $1258.04 before finding support.

The internal of wave C subdivides as an impulse where wave ((ii)) ended at $1310.60 as the chart below shows. The yellow metal then extends lower within wave ((iii)) of C which also subdivides as an impulse of lesser degree. Down from $1310.6, wave (i) ended at $1289.4 and wave (ii) ended at $1295.80. Expect wave (iii) to end soon and the yellow metal to bounce in wave (iv) to correct the decline from $1295.92 before the metal extends lower again. We do not like buying Gold in the shorter cycle and still favor more downside as far as pivot at $1295.92 remains intact.

1 Hour Gold Elliott Wave Chart Asia Update

Attached Image (click to enlarge)