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FXA Bearish Cycle From The July 2011 Highs

FXA Bearish Cycle From The July 2011 Highs
Firstly the FXA ETF fund is the Australian dollar tracking fund that has an Inception Date of 06/21/2006. With that said the fund mainly reflects the currency spot price of the AUDUSD forex pair. The data available from the Reserve Bank of Australia at their website suggests the spot price was 1.4875 back in 1973 to 1974 that would translate into an FXA price of around 148.75. It should be obvious that is a long term downtrend. I believe the bearish cycle analysis suggests it can go lower to possibly retest those lows eventually.
Back before the FXA fund inception date, the AUDUSD spot currency price reached what is still the currency low in April 2001 at .4778. From there the currency pair went up in three swings until July 2011 at a high of 1.1080. That translated into the FXA ETF fund price high of 110.99 in July 2011. This is where the monthly Elliott wave analysis begins on the chart below.
The analysis continues below the monthly chart.

Secondly the decline from the aforementioned July 2011 highs at least in this FXA ETF fund does not seem legitimately able to count the whole cycle from there down to the January 2016 lows as a regular impulse by itself as a whole. The cycle lower in the blue wave (a) has been subdivided as an a-b-c in red. The instrument has since then bounced in three swings in what appeared to be a zig zag Elliott wave (b) that ended in January 2018.
The analysis continues below the weekly chart.

Thirdly in conclusion since the wave (b) highs from January 2018 the instrument has declined in a relatively clean & clear 5 wave impulse in wave a to the October 2018 lows. A bounce to the December 2018 highs was technically strong. It suggested it was correcting the cycle from the January 2018 highs. The instrument has since made new lows under the January 2016 lows. That now gives it a bearish sequence again to go along with the obvious down trend.
The equal legs of the larger blue (a) -(b) on the two charts shown above comes in at the 38.70 area. I only drew a proposed decline toward the 61.8 extension area of the (a)-(b) which is at 55.00. I think this area can be seen realistically later in the coming years. The decline should continue lower most immediately while below the July 2019 highs, more importantly while below the December 2018 highs.
Thanks for looking. Feel free to come visit our website. Please check out our services Free for 14 days and see if we can be of help. Kind regards & good luck trading. Lewis Jones of the ElliottWave-Forecast.com Team

Trade War Escalation Put Selling Pressure to S&P 500 (SPX)

Last week, there was anticipation of market volatility as the Fed’s Chairman Jerome Powell was scheduled to speak at Jackson Hole. President Trump and China however stole the show. China introduced fresh retaliatory tariffs on $75 billion of U.S. imports, targeting politically sensitive products. President Trump immediately responded. Trump announced in twitter the existing 25% tariffs on $250 billion Chinese goods will rise to 30% on October 1. In addition, the 10% tariffs on another $300 billion Chinese Goods will rise to 15% instead on September 1.
In a series of Tweet storm, Trump also accused Powell of a bigger enemy than China’s President Xi Jinping and issued an order to American companies to get out of China.

“Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA,” Trump wrote. The move came after the market closed and before Trump departs to G7 summit in France. The National Retail Federation issued a statement on Friday saying that the tariffs approach is not working.
On Sunday at the G7 summit however, President Trump said that he has a second thought on escalating the trade war with China. The G-7 leaders seem to have successfully nudged the President gently to dial down his aggressive stance against China. It remains to be seen if Trump withdraws his threats last Friday, whether fully or partially. In the meantime, one thing for certain is that the market will continue to be uncertain and volatile.
S&P 500 Longer Term View

It remains to be our call that the cycle from 2009 low is mature and S&P 500 should soon pullback in wave (IV) in larger 3 waves at least. As we said in the previous article, a yield curve inversion in the past precedes a recession by about 2 years in time. Therefore, we still can not rule out one last rally in wave (V) later before the biggest pullback happens. The alternate view suggests the rally in S&P 500 is in a 3 waves (a)-(b)-(c) zigzag and in this case the biggest pullback is already due.
S&P 500 closed below 2018 trend line

The bulls tried to hold above the 2018 ascending trend line last week but failed to do it. The Index has now decisively closed below the trend line. If the Index has started to do the wave (IV) pullback as the first chart suggests, then it can potentially go to 2125 – 2470 as the next potential strong support. This is the 23.6 – 38.2 Fibonacci retracement from wave (II) low in 2009 . It also has the support of the ascending trend line and 200 weekly moving average.
Short Term S&P 500 Outlook

Short Term outlook in S&P 500 (SPX) suggests further downside is likely. The view will get further confirmation if the Index is able to break below August 5 low (2822) next week. Once August 5 low breaks, the next short term minimum target is 2610 – 2736. With weekly close below the trend line from 2018 high, the odd suggests for further downside in coming weeks.
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German Daimler AG Stock Under Serious Pressure, Whats Next?
August 22, 2019 By EWFSanjay (Edit)
Hello fellow traders. In today’s blog, we will have a look at the Daimler AG stock. The stock is listed in the DAX 30 and in the EURO Stoxx 50.
Daimler AG is a German multinational automotive company which has its Headquarter in Stuttgart Germany. Daimler AG is one of the biggest car manufacturers in the world. They are famous for high-quality premium cars. But also they are one of the largest truck manufacturers as well.
In the last couple of weeks, all german car manufacturer are getting hit by the possible tariffs for the U.S. market which President Trump threatens to Europe carmakers.
Therefore, the stock is currently under pressure which can be also seen in the chart below. Let’s have a look at the weekly price action and what to expect for the company.

Daimler AG 08.22.2019 Weekly Chart Analysis


In the chart above you can see that the stock ended the cycle up from its post-financial crises low at its 2015 peak. Below from there, it has been in the progress of correcting that in 3-7 or 11 swings. Recently, Daimler broke below its 2006 low and also broke below its 2019 low. With that said, the stock has a 5 swings incomplete sequence from 2015 peak and also from 2018 peak indicating that more downside should be coming. We can see that it reached the 61.8-76.40 extension area from 2015 peak.
From there it bounced decently and turned lower by making again a new low. Daimler should ideally now see the equal legs from 2015 peak towards 31.45-20.74 area. This area can be used based on Elliott Wave Hedging for a good buy investment opportunity. Summarizing, the stock should see more downside in the next coming weeks and month into 31.45-20.74 area where a bigger reaction higher in favor of the Daimler stock should ideally be taking place.

I hope you liked this kind of different blog and I wish you all good trades. And for all who are interested in learning more about our unique blue box areas and also want to trade profitably in 2019 then sign up for a free 14 days trial you can cancel anytime. Click the link and see you insight

Natural Gas Found Sellers At The Blue Box
August 25, 2019 By EWF Vlada (Edit)
In this technical blog we’re going to take a quick look at the Elliott Wave charts of Natural Gas, published in members area of the website. As our members know, Natural Gas has incomplete bearish sequences in the cycle from the 2.493 (July 10th) peak. Consequently, we advised members to avoid buying the commodity and keep favoring the short side. We expected Natural Gas to keep on finding sellers in the sequences of 3,7,or 11 swings.
In further text we’re going to explain Elliott Wave Forecast and trading strategy.
Natural Gas 4 Hour Elliott Wave Analysis 8.13.2019
Decline from the July 10th peak unfolded as 5 waves structure- wave ((i)) black. Wave ((ii)) ended as Elliott Wave Zig Zag pattern and we got further decline. Break of 07/29 low made the Commodity bearish against the 08/01 peak . That break confirmed wave ((iii)) is already in progress. Cycle from the 2.493 peak is incomplete now, calling for further weakness. We don’t recommend buying the Commodity in proposed bounce and favor the short side.

Natural Gas 1 Hour Elliott Wave Analysis 8.14.2019
Natural Gas is correcting the short term cycle from the 2.334 peak.. As far as the mentioned pivot holds, we expect to see further weakness. Short term recovery looks incomplete at the moment. The price is missing another short term swing up toward 2.192-2.271 ( blue box- selling zone). As the main trend is bearish, we expect the commodity to find sellers at the blue box for a 3 wave pull back at least. As soon as the pull back reaches 50 Fibs against the last connector (x) blue low, we should make our short positions risk free.

Natural Gas 1 Hour Elliott Wave Analysis 8.14.2019
Eventually Natural Gas made proposed leg up and found sellers right at the blue box : 2.192-2.271. Wave (ii) recovery completed at 2.269 high. We got decline which has already reached 50 Fibs against the (x) blue connector. As a result members who took short trades are now enjoying profits with risk free positions. Now, as far as 2.269 pivot holds, we can get more downside as proposed on the chart. However, we need to see break below 08/05 low in order to confirm next leg down is in progress. Until that happens , double in wave ((ii)) might happen per alternative view.
Keep in mind market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Not every chart is Trading Signal. 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.

Elliott Wave Forecast
We cover 78 instruments in total, but not every chart is trading recommendation. We present Official Trading Recommendations in Live Trading Room. If not a member yet, Sign Up for Free 14 days Trial now and get access to new trading opportunities. Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy.
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Elliott Wave View: Copper Expected to Turn Lower Soon

Short Term Elliott Wave structure in Copper suggests the rally to $2.64 ended wave (2). The metal has since resumed lower in wave (3). The internal of the move lower is unfolding as an impulse Elliott Wave structure. Down from 2.64, wave ((i)) ended at $2.578, wave ((ii)) ended at $2.626, wave ((iii)) ended at $2.547, wave ((iv)) ended at $2.575, and wave ((v)) ended at $2.49. This move lower from August 14 high (2.642) to 2.49 completed wave 1 in the higher degree.

Wave 2 bounce is currently in progress to correct the cycle from August 14 high. The internal of the rally is proposed to be unfolding as a double three Elliott Wave structure. Up from $2.49, wave ((w)) ended at $2.549 and wave ((x)) ended at $2.528. Wave ((y)) of 2 is expected to reach the blue box area of 2.586 – 2.623. From this area, Copper should then resume lower or pullback in 3 waves at least. We don’t like buying the metal. Expect the metal to find sellers and extend lower soon or at least pullback in 3 waves as far as pivot at 2.642 high stays intact.

Copper 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Buying Elliott Wave Dips In 10 Year T-Note Futures

In this technical blog, we are going to take a look at the past performance of 10 Year T-Note Futures ticker symbol: $ZN_F 1-Hour Elliott wave Charts that we presented to our members. In which, the rally from October 2018 low showed a higher high sequence in an impulse structure with the right side up called for more upside to take place. Therefore, our members knew that buying the dips into the direction of the right side tag remained the preferred path. We will explain the Elliott wave structure & buying opportunity our members took below:
$ZN_F 10 Year T-Note Futures 1 Hour Elliott Wave Chart

Above is the 1 Hour Elliott Wave Chart from 8/23 Asia update, in which the pair ended the cycle degree wave III at $131.11 high. Down from there, the pair made a cycle degree wave IV pullback. The internals of that pullback unfolded as double three structure where wave ((W)) ended as lesser degree zigzag structure at $130.09 low. Up from there, wave ((X)) bounce ended at $130.30 high. Wave ((Y)) unfolded as another lesser degree zigzag structure where wave (A) ended at $130.10 low. Wave (B) bounce ended at $130.25 high and wave (C) was expected to reach towards blue box at $129.28-$129.08 100%-161.8% Fibonacci extension area of ((W))-((X)). Then from there, pair was expected to provide buying opportunity to our members into the direction of right side tag looking for new highs or for minimum 3 wave reaction higher at least.
$ZN_F 10 Year T-Note Futures 1 Hour Elliott Wave Chart
https://elliottwave-forecast.com/wp-...g-1024x512.jpg
$ZN_F 10 Year T-Note Futures 1 Hour Elliott Wave Chart from 8/24 Weekend update, in which instrument managed to reach blue box at $129.28-$129.08 area and rallied higher. Allowed our members to create risk-free position shortly after taking the position at the blue box area.
Keep in mind that the market is dynamic and the view could change in the meantime. Success in trading requires proper risk and money management as well as an understanding of Elliott Wave theory, cycle analysis, and correlation. We have developed a very good trading strategy that defines the entry. Stop loss and take profit levels with high accuracy and allows you to take a risk-free position, shortly after taking it by protecting your wallet. If you want to learn all about it and become a professional trader. Then join our service by taking a Free Trial.

Why Oil Will be Supported Over The Long-Term In To $100
August 28, 2019 By EWFSanjay (Edit)
On Tuesday, August the 27, 2019 we at Elliott Wave Forecast hosted a Free Seminar. The topic of the seminar is Oil (CL_F). We analyze the outlook of the instrument in the Grand-Super cycle and Super-cycle degree.
We explain which technical tools we use to forecast the Market. The seminar analyzes why Oil will find support over the long-term and why it should hit $100 level in the future. We also look at the Wisdom Tree Continuous Commodity Index Fund (GCC), CHK and XOM. We explained why they are supporting the view to determine the next big swing higher. The seminar also covers why Oil could have a major low in place at $38.93, although near term, it still can see another leg lower. After the leg lower, it has the possibility to enter a period of strength.
Watch the Free Webinar recording below and get a sneak peek on our work. Check to see how we determine the next potential big move in Oil to the upside.
Why Oil Will be Supported Over The Long-Term In To $100 8.27.2019 Video

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Canopy Growth Corporation – Investment Opportunity Around the Corner
August 27, 2019 By Ayoub Ben Rejeb (Edit)
The world’s largest medical cannabis producer by market cap, Canopy Growth (NYSE : CGC) reported earning two weeks ago. While revenue surged by nearly 250% year over year to 90.5 million Canadian dollars, it was down 59% from the previous quarter and more than 20 million Canadian dollars below the average analyst estimate which raised some concerns.
The company managed to sell a total of 10,549 kilograms of product, compared to 9,362 in Q4 and harvested 40,960 kilos, up 323% from the year-ago period’s 9,685 kilo. The harvest was bigger than the 34,000 kilos that management had projected and it should translate to higher sales in the coming quarters.
Analyst are still optimist about Canopy growth expectation as the company is set to launch a variety of products, including cannabis-infused beverages, edibles, and vapes which is expected to find good demand in US and worldwide.
Canopy Growth Expectations


The technical picture for Canopy is clear in the weekly chart using Elliott Wave Theory to identify the current structure taking place :
Since IPO, CGC rallied higher 1600% in an impulsive 5 waves advance before ending that cycle last year at October peak $59.25 . Down from there, the stock started a classical 3 waves zigzag structure which remain in progress after breaking December 2018 low and aiming for the equal legs area $18.74 – $10.72 which is expected to find buyers at least for a 3 waves bounce from there.
Only a break above 2018 peak will confirm the start of a new bullish cycle higher so until that happens, the stock can remain trapped in a sideways range after bouncing from the blue box area or even do a double correction lower at a later stage.
Canopy Growth CGC Weekly Chart 08.26.2019

The blue boxes in our charts are the High-frequency areas where the market is likely to end cycles and make a turn. Consequently, CGC will provide a long term investment opportunity based on the technical extreme area provided in the above chart and also based on the optimistic expectation about the company which is looking to keep expanding.

Get more insights about Cannabis Stocks by trying out our services 14 days and learning how to trade our blue boxes using the 3, 7 or 11 swings sequence. You will get access to our 78 instruments updated in 4 different time frames, Live Trading & Analysis Session done by our Expert Analysts every day, 24-hour chat room support and much more.

$USDJPY Forecasting The Decline After Running Flat Pattern
August 27, 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 USDJPY published in members area of the website. As our members know, USDJPY has incomplete bearish sequences in the cycle from the 04/24 peak. That makes the pair bearish against the 109.33 high. Consequently, we advised members to avoid buying the pair and keep favoring the short side.
Recently the pair made Running Flat against the mentioned peak. Before we take a look at the real market example of Running Flat, let’s explain the pattern in a few words.
Elliott Wave Running Flat Pattern
Elliott Wave Expanded Flat is a 3 wave corrective pattern which can be seen in the market nowadays. Inner subdivision is labeled as A,B,C , with inner 3,3,5 structure. Waves A and B have forms of corrective structures like zigzag, flat, double three or triple three. Third wave C is always 5 waves structure, either motive impulse or ending diagonal pattern. It’s important to notice that in Running Flat Pattern wave B completes below the start point of wave A, and wave C ends below the ending point of wave A. These kind of movements make the Running Flats. Running FLATS Patterns are also tricky to trade.
At the graphic below, we can see what Running Flat structure looks like.

Now let’s see what Elliott Wave Running Flat looks like in real market example.
USDJPY Elliott Wave 1 Hour Chart 8.13.2019
At the chart below we can see classic example of Elliott Wave Flat Pattern in forming. We got 3 waves up in wave (a) blue and then another 3 waves down in (b) which broke starting point of wave (a). Currently we are getting strong rally with impulsive structure in (c) leg up. At this stage we don’t know yet is the pattern going to end up as Expanded or Running Flat, as the price can easily broke ending point of wave (a).
You can learn more about Elliott Wave FLAT Patterns at our Free Elliott Wave Educational Web Page.

USDJPY Elliott Wave 1 Hour Chart 8.14.2019
Current view suggests recovery against the 109.29 peak is completed at 106.98 high as wave ((b)) black. As wave (c) of Flat ended below ending point of wave (a), wave ((b)) is counted completed as Running Flat structure. As far as the price stays below that level we expect further weakness in the pair. Now we need to see break below (b) blue low to confirm next leg down is in progress.

USDJPY Elliott Wave 1 Hour Chart 8.23.2019
Currently USDJPY is doing short term recovery against the 106.98 peak, which also can be unfolding as Flat Structure. We got 3 waves up in a red, then 3 waves down in b red, currently still forming c red as 5 waves structure. If c red completes below a red high that would be another running flat. Anyway, as far as the price stays below 106.98 peak we expect further weakness in the pair.

USDJPY Elliott Wave 1 Hour Chart 8.27.2019
Last short term high at 107 held nicely and we got decline as expected. Short term wave ((ii)) recovery also ended as running flat as wave (c) completed below ending point of wave (a). Now as far as the price stays below wave (ii) blue high, and more importantly 107.01 pivot holds, we can be doing next leg down within incomplete cycle. Otherwise break above (ii) blue peak can make 107.012 more vulnerable.
Keep in mind market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Not every chart is Trading Signal. 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.

Elliott Wave Forecast
We cover 78 instruments in total, but not every chart is trading recommendation. We present Official Trading Recommendations in Live Trading Room. If not a member yet, Sign Up for Free 14 days Trial now and get access to new trading opportunities. Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy.
Welcome to Elliott Wave Forecast !

Elliott Wave View: Gold Likely Still Has More Upside

Short Term Elliott Wave structure in Gold suggests the rally to $1528 on August 16 ended wave 1. The precious metal then pullback to $1492 which ended wave 2. The internal subdivision of wave 2 unfolded as a double three Elliott Wave structure. Down from 1492, wave ((w)) ended at $1492.9 as a zigzag. The bounce to $1508.76 ended wave ((x)) and the next leg lower to $1492.16 ended wave ((y)) of 2 with subdivision also as another zigzag.

The metal has since resumed higher in wave 3. The internal of wave 3 is unfolding as an impulse Elliott Wave structure. Up from 1492.16, wave ((1)) ended at $1555.33 and wave ((ii)) ended at $1524.80. Near term, while above $1524.80, and more importantly above $1492.16, expect Gold to extend higher. The precious metal still needs to break above wave ((i)) at $1555.33 to confirm that the next leg higher has already started and avoid a double correction. Possible target to the upside is 1.618 fibonacci extension from August 2018 low towards 1568 area. We don’t like selling Gold and expect the precious metal to continue supported as far as pivot at $1492.16 low stays intact.

Gold 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Elliott Wave View: EURJPY Remains Under Pressure

EURJPY shows an impulsive Elliott Wave structure from July 1, 2019 high (123.36). On the chart below, wave ((iii)) of that impulse ended at 116.5 and wave ((iv)) bounce ended at 118.2. The internal of wave (iv) unfolded as a zigzag structure. Wave (a) ended at 117.77, wave (b) ended at 117.18, and wave (c) of ((iv)) ended at 118.19. Pair has resumed lower in wave ((v)) with the internal unfolding as an impulse Elliott Wave structure of lesser degree.

Down from 118.2, wave i ended at 117.05, wave ii bounce ended at 117.94, wave iii ended at 116.35, and wave iv bounce ended at 116.7. Wave v is expected to end soon and pair should complete wave (i) of ((v)) in higher degree. Pair should then bounce in wave (ii) to correct cycle from August 26 high (118.2) before the decline resumes. We don’t like buying the proposed bounce and expect bounce to fail in 3, 7, or 11 swing as far as pivot at 118.2 high stays intact.

EURJPY 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Buying Elliott Wave Dips In 10 Year T-Note Futures
August 28, 2019 By Hassan Sheikh (Edit)
In this technical blog, we are going to take a look at the past performance of 10 Year T-Note Futures ticker symbol: $ZN_F 1-Hour Elliott wave Charts that we presented to our members. In which, the rally from October 2018 low showed a higher high sequence in an impulse structure with the right side up called for more upside to take place. Therefore, our members knew that buying the dips into the direction of the right side tag remained the preferred path. We will explain the Elliott wave structure & buying opportunity our members took below:
$ZN_F 10 Year T-Note Futures 1 Hour Elliott Wave Chart

Above is the 1 Hour Elliott Wave Chart from 8/23 Asia update, in which the pair ended the cycle degree wave III at $131.11 high. Down from there, the pair made a cycle degree wave IV pullback. The internals of that pullback unfolded as double three structure where wave ((W)) ended as lesser degree zigzag structure at $130.09 low. Up from there, wave ((X)) bounce ended at $130.30 high. Wave ((Y)) unfolded as another lesser degree zigzag structure where wave (A) ended at $130.10 low. Wave (B) bounce ended at $130.25 high and wave (C) was expected to reach towards blue box at $129.28-$129.08 100%-161.8% Fibonacci extension area of ((W))-((X)). Then from there, pair was expected to provide buying opportunity to our members into the direction of right side tag looking for new highs or for minimum 3 wave reaction higher at least.
$ZN_F 10 Year T-Note Futures 1 Hour Elliott Wave Chart

$ZN_F 10 Year T-Note Futures 1 Hour Elliott Wave Chart from 8/24 Weekend update, in which instrument managed to reach blue box at $129.28-$129.08 area and rallied higher. Allowed our members to create risk-free position shortly after taking the position at the blue box area.
Keep in mind that the market is dynamic and the view could change in the meantime. Success in trading requires proper risk and money management as well as an understanding of Elliott Wave theory, cycle analysis, and correlation. We have developed a very good trading strategy that defines the entry. Stop loss and take profit levels with high accuracy and allows you to take a risk-free position, shortly after taking it by protecting your wallet. If you want to learn all about it and become a professional trader. Then join our service by taking a Free Trial.

Swedish Krona and Singapore Dollar Cycles Support DXY
August 28, 2019 By Daud Bhatti (Edit)
US Dollar has been rallying strongly against Swedish Krona and Singapore Dollar for the past couple of months and have broken above significant peaks so in this blog, we would take a look at the cycles and sequences in USDSEK and USDSGD and present the next targets and also talk about what this means for US Dollar Index.
USDSEK (Swedish Krona) Cycle and Sequence from 1.31.2018
Chart below shows pair has recently broken above May 2019 peak and now showing incomplete bullish sequence from 1.31.2018 low against 9.21.2018 low and also from 9.21.2018 low against 6.25.2019 low. As far as dips hold above 6.25.2019 low, expect the rally to continue towards target area between 10.1694 – 10.5047 highlighted with a blue box.

USDSGD Bullish Sequence Since 1.25.2018 Low
USDSGD recently broke above 10.9.2018 peak which is labelled a/I in the chart below and break of this peak creates an incomplete bullish sequence from 1.25.2018 low against 1.31.2019 low. As dips hold above 7.1.2019 low and more importantly above 1.31.2019 low, expect the pair to continue higher and eventually reach target area between 1.4312 – 1.4518 which is highlighted with a blue box on the chart below.

USDSEK overlay with US Dollar Index
Chart below shows US Dollar Index overlaid with USDSEK and we can see USDX low in 2018 is similar 1.31.2018 low in USDSEK and 9.21.2018 low is the same in both USDSEK and USDX. Therefore, we can conclude that USDX would remain supported until USDSEK doesn’t reach 10.16 – 10.50 area and USDSGD doesn’t reach 1.43 – 1.45 area. Our strategy remains to keep looking for buying opportunities in the dips in 3, 7 or 11 swings and we don’t like the selling.

Gold Broke to New All-Time High Against Most Major Currencies
September 2, 2019 By EWFHendra (Edit)
Great Year for Precious Metals
Year 2019 certainly has been a good year for the Gold bulls. The metal accelerated its rally after President Trump announced 10% tariffs on the remaining $300 billion of Chinese imports. China then let the Yuan weaken and rise above 7 against the U.S. dollar for the first time in more than a decade. Currently, Gold’s price is either near or at all-time high in most currencies except the U.S. dollar. Below, we can see the chart of Gold breaking to new all-time high against major currencies.

The chart below from Bloomberg shows the performance of world currencies against the U.S dollar. Precious metals get included as they do have the function similar to currencies. Central banks around the world also have them as a reserve. As the chart below shows, the top 4 best performing currencies against U.S dollar is all precious metals.

The top performing ETF in August is also related to the precious metals as the chart below shows. With bond yields going negative, many investors who want to reduce risk go to alternative instrument including commodities.
https://elliottwave-forecast.com/wp-...9/Best-ETF.png
Gold to Silver Ratio Breaking Down

Overlay of Gold-to-Silver ratio chart together with Gold and chart above show an inverse correlation. We can see a period from 10.2008 to 4.2011 where the ratio went lower while the price of both precious metals rallied. We can also see a period from 4.2011 to end of 2015 when the ratio rose and the price of Gold and Silver both went lower. The ratio has recently started to turn lower again after forming a multi year high around mid 90s. The average of this ratio in the past 3 decades is around 60, and the natural earth ratio is currently 9. It means that for every 1 ounce of Gold mined from the earth, we can find 9 ounce of silver.

The ratio just last week decisively broke down and closed below the ascending trend line from April 2011. This suggests that more downside should be expected in coming months / years. With the ratio breaking down, and Gold breaking to new all time high against most world currencies, expect the precious metals to be the start performer in the months and years ahead.
For further update in Gold, forex, commodity, or stock market you can try our 14 days FREE trial.

UUP Bullish Cycles from May 2011 lows
September 3, 2019 By EWF Lewis (Edit)
UUP Bullish Cycles from May 2011 lows
Firstly the dollar tracking ETF fund UUP inception date was 2/20/2007. Interestingly the dollar index has a low in March 2008. The UUP ETF fund shows a low in May 2011. The dollar index did make a pullback cycle low in May 2011 however it was well above the March 2008 lows. The bullish cycle up from the May 2011 lows in UUP is the focus of this analysis where it begins on the weekly chart. It should see some further upside before any larger size pullbacks relative to the longer term cycles.
The analysis continues below the UUP weekly chart.


Secondly the bullish cycle up from the May 2011 lows in UUP appears to be advancing higher with some overlap in the cycles. This is as per would any diagonal. However price has marginally got above the January 2017 highs giving the dollar representative instrument a bullish sequence. From the May 2011 lows the dollar instrument appears to have at least 4 swings in place to the January 2018 lows. From there according to the momentum indicators used here it ended a cycle up at the August 2018 highs in a 5th swing. The reason of that being the relatively short in price percentage or time pullback into the September 2018 lows. That was strong enough to suggest it was 6th swing correcting the cycle up from the January 2018 lows.
The analysis continues below the UUP daily chart.


Thirdly and in conclusion, the swing and Elliott Wave count suggests further upside in the dollar. The dollar is bullish while near term dips lower show they will remain above the January 2019 lows, more ideally the June 25th lows. It can see further strength higher toward the 28.26-29.28 area before a significant turn back lower. Thanks for looking. Feel free to come visit our website. Please check out our services Free for 14 days and see if we can be of help.
Kind regards & good luck trading. Lewis Jones of the ElliottWave-Forecast.com Team

GOLD ( $XAUUSD ) Buying The Dips At The Blue Box

Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of GOLD ( $XAUUSD ), published in members area of the website.Break of August 13th peak made cycle from the 08/01 low( 1399.56) incomplete to the upside. Consequently GOLD is bullish against the 1492.49 low in first degree and against 1479.3 low in second degree. We advised members to avoid selling GOLD and keep buying the dips in the sequences of 3,7,or 11 swings whenever opportunity presented itself. In further text we’re going to explain Elliott wave Forecast and trading strategy.
GOLD 1 Hour Elliott Wave Analysis 8.26.2019
As the main trend is bullish we expect Commodity to find buyers in 3,7,11 swings for further rally or 3 waves bounce alternatively. GOLD has given us short term pull back -labeled as wave ((ii)) black. The price reached equal legs area 1526.78-1516.08 ( buying zone). At this stage we are calling pull back completed and would like to see further separation higher. As our members know Blue Boxes are no enemy areas , giving us 85% chance to get a bounce.

GOLD 1 Hour Elliott Wave Analysis 8.28.2019
Current short term low 1524.88 held nicely and we got further separation higher. The price has made decent bounce. As a result members are now enjoying profits in risk free positions. We would like to see break of 08/26 peak to confirm next leg up is in progress. Until proposed break happens double cannot be ruled out. If not already long and risk free, we don’t recommend buying the dips against the 1524.88 short term low. Strategy is waiting for break above 08/26 – wave((ii)) peak, before buying short term dips again or alternatively if buying the dips at the extremes against the 1492.16 low if 1524.88 gets broken.

GOLD 1 Hour Elliott Wave Analysis 8.30.2019
The commodity took alternative path. 1524.88 low got broken and we are still correcting the short term cycle from the 1518.31 low. As of right now pull back looks incomplete, missing another leg down toward 1518.31-1498.58 ( buyers area). We don’t recommend selling GOLD at this stage and favor the long side – buying the dips at the blue box area if it gets reached.

GOLD 1 Hour Elliott Wave Analysis 9.2.2019
GOLD made leg down and the price reached (a)-(b) equal legs area at 1518.2. Buyers appeared right at the blue box and the price is already showing reaction from there.The bounce has already reached 50 fibs against the (b) blue high. So members who took long positions from the blue box should be already risk free.
It’s crucial to fully understand our official trading strategy: how to trade equal legs and sequences in 3,7,11 swings. Combined with Trend Trading it gives you very powerful system that makes you protect your account and makes you profit. If not already familiar with this strategy, all you have to do is to sign up for 14 days Free Trial and watch our Free Educational Video in membership area. If still having some questions after watching it, feel free to let us know and we will help. You can ask questions in 24 Hour Chat Room and in Live Analysis Sessions.
Keep in mind that market is dynamic and presented view could have changed in the mean time. 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. You can check most recent charts in the membership area of the site.

Elliott Wave Forecast
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Elliott Wave View: How High Can Silver Go?

Since forming the low on November 2018 at $13.9, Silver has rallied 40% to current price of $19.4. The move higher from $13.9 low took the form of a 5 waves impulsive Elliott Wave structure. On the 1 hour chart below, we can see wave (4) pullback ended at $16.92. The metal has since resumed higher in wave (5) with subdivision as another impulse in lesser degree. Up from $16.92, wave 1 ended at $18.65 and wave 2 ended at $18.02.

Near term, while dips stay above $18.02, Silver should continue to see more upside. We don’t like selling Silver and expect buyers to appear to buy the dips in 3, 7, or 11 swing. This view is valid as far as pivot at $18.02 low stays intact in the first degree. Possible target to the upside is 2.618% Fibonacci extension from Nov 2018 low which comes at $20.2 – $20.3 area. This is likely going to end only wave ((3)) in higher degree from Nov 2018 low, so it won’t end the entire rally yet. After it reaches the target of $20.2 – $20.3, Silver has chance to do a larger pullback to around $18 – $19 in wave ((4)) before another leg higher to end 5 waves up from November 2018 low.

Silver 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Elliott Wave View: IYR New All-Time-High in Sight

IYR is the ticker symbol for U.S. Real Estate ETF. Since the financial crash in 2009, the instrument is steadily rising and currently only $1 from breaking the 2007 all-time high. In the short term chart below, we can see the rally is unfolding as an 5 waves impulsive Elliott Wave structure. The impulsive rally started from August 16, 2019 low where wave ((i)) ended at 92.66 and wave ((ii)) ended at 90.75. Wave ((iii)) is in progress and unfolding as another impulse Elliott Wave structure in lesser degree.

A 100% Fibonacci extension measurement from August 6 gives us a possible short term target of 96.45 – 97.8. This can be a possible short term target to the upside. Near term, while pullback stays above 90.76, expect the instrument to extend higher. We do not like selling the instrument. Dips should find buyers in 3, 7, or 11 swing as far as pivot at 90.76 low stays intact. In the larger degree, if IYR makes all-time high by breaking above 2007 high (95), that should create a bullish sequence and open further upside in the larger degree.

IYR 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Elliott Wave View: Impulsive Rally in Amazon (AMZN)

Short term Elliott Wave view in Amazon (AMZN) suggests that the rally from August 6, 2019 (1743.51) low is unfolding as a 5 waves impulsive Elliott Wave structure. We label the pullback to 1743.51 as wave (B). The stock is currently in wave (C) higher which should subdivide in 5 waves. Up from wave (B), wave 1 ended at 1800.01 with subdivision as another impulse of lesser degree. Wave 2 pullback ended at 1754.90 as a zigzag Elliott Wave structure.

The stock then resumes higher again and we can see an extension within wave 3. In Elliott Wave Theory, wave 3 typically is the strongest and longest wave, often at least 161.8% of wave 1. The move higher has now reached 161.8% Fibonacci extension of wave 1, thus wave 3 is nearing complete. Another leg higher can’t be ruled out before ending wave 3 but regardless, wave 4 pullback is expected to happen sooner or later. Afterwards, Amazon should rally 1 more leg higher in wave 5 before ending wave (C) from August 6 low. Potential target to the upside is 100% of (A)-(B)-(C) from August 6, 2019 low which comes at 1859 – 1930.

AMZN 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

EQT Corporation (NYSE: EQT) – Ending a Corrective Decline

EQT Corporation is one of the largest natural gas exploration and pipeline companies in United State. The Energy giant has more than 130 years of experience and it continues to be a leader in the use of advanced horizontal drilling technology . It’s also an integrated energy company with emphasis on natural gas exploration, production, gathering, and transmission.
EQT stock movement is heavily correlated with Oil ( CL_F ) and Natural Gas ( NG_F ), as we’ll see in the coming chart that all 3 instrument are sharing the same cycle with same peaks in 2008 , 2014 and 2016. The only difference this time, is that EQT is adding another swing lower while the majority of Energy sector remains sideways waiting for it and other similar stocks to reach their targets before everything bounce higher at the same time.
EQT vs CL_F vs NG_F

If we count the swings starting from ATH in 2014 peak ( swings are different from Elliott wave count ), we notice that EQT is doing a larger 3 swing move lower (blue) that unfolds into 7 swings structure (purple) which has a target at equal legs area $8.68 – $0.41 area and expected to turn higher from there and produce at least a 3 waves bounce. The 7 swings count creates an Elliott Wave structure called Double Three which can be labeled in this case as (W) (X) (Y).
We can also notice that both cycle from 2014 peak and 2016 peak has a similar internal structure also divided into larger 3 swings (red) with internal 7 swings (black). Consequently, the entire decline taking place is considered as a correction which indicates that the stock will be looking for a reversal to take place after that cycle ends.
EQT Corporation Swings Count

EQT Corporation Elliott Wave Count

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