Archives for February 2019

GBPUSD 14th February, 2019

15 February, 2019 by Nady Laymoud Leave a Comment

GBPUSD continued to score lower lows, reaching and exceeding the cited target before reversing gears, opening the door for the idea that an interim bottom has been registered. Today's main hourly count suggests that the last leg of a countertrend bounce has started, while today's alternate hourly count, consider the possibility that the larger degree downtrend is in full throttle. Have a great weekend! Read More

EURUSD 14th February, 2019

15 February, 2019 by Tamer Elzein Leave a Comment

The euro pushed a bit upwards as expected, but then it stalled in a converging sideways range well before reaching our first target. For the third time this week, I find myself having to adopt an irregular count due to price's forming an irregular pattern. I've noticed a small discrepancy in price between my current data provider and another source. I mention this because the pattern I'm adopting today looks wrong on my chart, but it tracks correctly on the data of that other provider. Just thought I'd give you a heads-up about this.

GBPUSD 13th February, 2019

14 February, 2019 by Nady Laymoud Leave a Comment

Cable traded on up, confirming the alternate count before diving to lower lows. The nature of the decline from yesterday's high appears corrective in nature, opening the door for the idea that the countertrend advance has yet to peak. A post below the main hourly count's confirmation point will imply that lower lows remain in store for the second leg of the corrective bounce. On the other hand, a rally through the alternate hourly count's confirmation point would suggest that the final leg of that bounce has started. Read More

EURUSD 13th February, 2019

14 February, 2019 by Tamer Elzein 2 Comments

The euro moved quite strongly (relative to the preceding rally, at least) toward the downside, dipping below the recently established support at 1.1257. While this decline looks very impulsive, the equally impulsive-looking advance that came right before it forces me to consider both of them as parts of a larger correction. And even though I have to admit I'm not very fond of this count, it seems to me the most reasonable view at this point.

EURUSD 12th February, 2019

13 February, 2019 by Tamer Elzein Leave a Comment

As expected the euro moved toward the upside and has come very close to reaching our first target.

GBPUSD 12th February, 2019

13 February, 2019 by Nady Laymoud Leave a Comment

We continue to look for evidence to support that the corrective advance is behind us and that the larger degree downtrend has resumed. We still want to see further impulsive decline to gain confidence in that bearish outlook in the mid-term. Near-term, it is arguable whether a smaller degree five-wave sequence is complete. A post below the main hourly count's confirmation point will imply that lower lows remain in store. On the other hand, a rally through the alternate hourly count's confirmation point would suggest that a smaller degree correction has commenced. Read More

EURUSD 11th February, 2019

12 February, 2019 by Tamer Elzein Leave a Comment

Yesterday we posted two alternatives for how the euro would likely move, and the market chose the second one. Price moved downwards toward its bearish targets, reached the second target at 1.1270, and exceeded it by 13 pips. The euro has now been in a consistent downtrend for 9 days. It has reached all of its typical and even ambitious targets. It's facing a moderate level of support on the daily chart. It appears to have completed its wave structure on the hourly chart on multiple degrees. Even our friend and member, Mohammed, has contributed his own harmonic wave analysis of the 4-hour chart, and it seems to agree that this round of decline is done.

EURUSD 8th February, 2019

10 February, 2019 by Tamer Elzein 2 Comments

Instead of moving slightly further upwards as expected, the euro drifted downwards (if only for 10 pips) below its previous daily low.

GBPUSD 7th February, 2019

8 February, 2019 by Tamer Elzein Leave a Comment

Good morning. I am back. Many thanks to Tamer for filling in. Cable continued to decline, in line with the idea that the countertrend advance is behind us. We still want to see further impulsive decline to gain confidence in that outlook in the mid-term. Near-term, it is arguable whether a five-wave sequence is complete. A post below the main hourly count's confirmation point will imply that lower lows remain in store. On the other hand, a rally through the alternate hourly count's confirmation point would suggest that a smaller degree correction has commenced. Read More

EURUSD 7th February, 2019

8 February, 2019 by Tamer Elzein Leave a Comment

As expected the euro moved toward the downside, reached our first target at 1.1328, exceeded it by 6 pips. Yesterday's price movement certainly looks like a sideways range, which suggests a correction in what I see as a fourth-wave position. This means that, whatever rally the euro may achieve, it's likely to be against the prevailing trend.

Archives for February 2019

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