GBPUSD dipped to a smaller degree lower low as anticipated, however, that low failed to reach the cited target before trading on up.
As always, we will wait for the confirmation point to be reached to gain confidence in the bullish outlook.
Shortcuts
EURUSD – December 8th, 2019
As expected the euro moved confidently toward the downside, reached our first target, and came 7 pips short of reaching our second target at 1.1032.
This decline fulfills the ideal requirements of the current corrective move. Whether or not there’s more to it, my stance is to prepare for a strong reversal.
GBPUSD 5th December, 2019
Cable followed the path we anticipated together to a T. It reached the cited second target and exceeded it by 11 pips before reversing gears.
In today’s analysis, we are going to cover whether that pullback, signals the completion of the larger degree uptrend or merely a corrective pullback that would set the stage for a final push higher.
As always, we will wait for the confirmation point to be reached to gain confidence in the bullish outlook.
EURUSD – December 5th, 2019
The euro is still trying to put up a fight, but so far it has literally been an uphill struggle. The main count remains the same.
EURUSD – December 4th, 2019
The euro went through a moderate rally about about 50 pips, only to be fully retraced in a couple of hours.
In a way, all this did was to confirm the main count, albeit with slightly different termination point and targets
EURUSD – December 3rd, 2019
As expected the euro moved toward the downside, reached our first target at 1.1010, and came 3 pips short of reaching our second target at 1.0999.
From there, price rallied for about 85 pips, registering the strongest advance — and the strongest daily move — since the 25th of September.
GBPUSD 29th November, 2019
As we are all aware, Cable has been consolidating in a sideways trade for the past month, adding little to the overall outlook. Today’s analysis suggests that this behavior is about to change. Whether the fourth wave we have been tracking ended as a double zigzag early November or just ended as a triangle, the working assumption continues to favor Sterling over the U.S. Dollar. Therefore, we should expect to see some strength this week.
As always, we will wait for the confirmation point to be reached to gain confidence in the bullish outlook.
EURUSD – December 1st, 2019
As expected the euro moved toward the downside. It reached the first target of the daily chart exactly to the pip, but it seems to have reversed before it reached the first target of the hourly chart.
This potential reversal is still at a very early stage, and we need to see some price confirmation before we can have full confidence that it’s actually begun.
EURUSD – November 28th, 2019
Given the stagnant situation in the euro over the past several days, as well as the duration of the current decline in relation to the preceding rally, I think it’s time to propose a modified count.
This new count is not very different in terms of outlook, but it does expect that a major upward reversal will take place a bit sooner.
GBPUSD 26th November, 2019
Cable remains locked in a sideways consolidation and the lack of a clear five-wave advance keeps the door open for an alternate ongoing wave 4 interpretation.
It is possible that the final fifth wave is unfolding as an ending diagonal, but it is still early to draw these labels.
The alternate ongoing triangle wave 4 scenario is on the table. However, triangle or not, we want to see a rally through the hourly count’s confirmation point to suggest that the larger degree uptrend has resumed.
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