WallStreet6's Blog
EUR/USD
EUR/USD on the daily graph has drawn a bullish candle resembling a hammer after appreciating since mid August. The hammer has indicated a change of the trend and the last two days the euro has depreciated. I think this is the beginning of a downward trend and at least next week the main direction will be downward for the euro. Open short positions!
EUR/USD
EUR/USD will most likely close today with a 3rd bullish candle in a row on the daily graph. We have seen some sell off today at the beginning of the trading day. However, the price came back up and will probably close on a rise. I think this points to further appreciation of the euro. I think the price may go above 1.17.
EUR/USD
EUR/USD has appreciated from 1.13 to over 1.16 in a 5 Elliot's wave movement. This was sharp upward movement and after reaching the level of over 1.16 we can expect some retracement/correction in a form of waves A (bearish), B (bullish) and C (bearish). However, I expect the dominating direction in this movement to be bearish and I think we may see some sharp drops as well. My prediction for the ucoming week is Bearish.
USD/PLN
USD/PLN has continued it's depreciation today which has continued fro over a week since it has reached the level of 3.80. This downward movement resembles the 5 Elliot's wave and if so we are currently close to the end of the 3 rd wave. However, I think that we still have some pips ahead in the 3rd wave before we embark on the 4th bullish wave. I think we will still see some downward movement. Bearish in the shortest term.
EUR/USD
EUR/USD has continued it's appreciation today drawing a bullish candle However, the rise wasn't as large as in the 2 previous days. It started the day with a drawdown to around 1.1570 and then rose to 1.1625, but has retreated and is currently trading just below 1.16. As the uptrend has lost momentum today it may indicate that the 3rd wave in the 5 Elliot's wave movement is coming to an end and ahead we may have the 4th bearish wave. I think on Thursday we will see some depreciation. Bearish
NZD/USD
NZD/USD after finding support at 0.6540 last week has been appreciating. After going up above 0.6630 it has retreated to 0.6610 and then has embarked on further uptrend. As we look on the daily graph we see that we may be in the middle of the 3rd wave of the Elliot's 5 wave upward movement. Thus, I think we will see further appreciation and jump on those long positions as there still is quite a lot pips to be made. Bullish
EUR/AUD
EUR/AUD has tested yesterday support at 1.56 and has been appreciating since then to reach level over 1.57 today. This quite a sharp rise today and if we look at the daily graph we see that it's the 3rd bullish candle in a row. I think further appreciation is ahead and we may see levels above 1.58 which we have recently seen, in July. Bullish