USDx, GBP/USD, EUR/USD, USD/JPY & the S&P 500 elliott wave VIDEO

USDx, GBP/USD, EUR/USD, USD/JPY & the S&P 500 elliott wave VIDEO



Gold market update video:



The video's speak for themselves please feel free to leave a comment and some feedback.

Happy Trading
Ahmed Farghaly

S&P Corrective rally over?!



Since the march 2009 lows, we had a textbook 5-3-5 zigzag corrective rally. The C wave of this rally showed divergence with the A wave, With an extreme in bullish sentiment. However it does seem a little tricky due to what seems to be a 3 wave rally (could fit into a 5) for the final push higher in this wave v of C I naturally thought that a running triangle would take place for a 'iv'th wave of this c wave rally. However the final push 'v' took us to a target of 0.618x wave A, and we are testing the upper channell line of supercycle wave 5. Strong case of further declines in this market considering the bigger picture. Every market shows a similar story that would lead to a strong rally in the USD for atleast the next year or so if not alot longer.

Confirmation: Daily Close bellow 0-B trendline

4hr chart


Happy Trading
Ahmed Farghaly

EUR/USD long term and short term elliott wave outlook

It certainly apears that the trend has reversed post a double zigzag rally from the lows in 2010 forming a wave B/X in my preffered count however I do discuss the alternates in the video that will be posted in a few minutes.



Shorter term: It seems like the trend has change post a wave 2/b expanded flat. Shorter term i have 2 counts with regards to the declines last week.
Count A)



COUNT B)


It certainly looks impulsive, here they both have the same probability in my oppinion they both point downward (close bellow 200ema 4hr and weekly close bellow monthly central pivot TERRIBLY BEARISH) so it doesnt get complicated unless you havent entered yet however I would STRONGLY advise you to watch the video that will be posted because it take an indepth look at the global markets as a whole.

Happy Trading
Ahmed Farghaly



NOTE invalidation would be a break above 1.4700

GBP/USD long term and short term update (elliott wave)



On a larger scale i still stick to my analysis which supports a wave 4 triangle in process with the wave terminated at arround 1.6750 and we're currently in a D wave on this wave 4 triangle



Looking at a lower time frame (4hr) it certainly looks like the GBP is heading lower bellow 1.6000 with no problem if this wave count proves accurate. It supports a 1-2-1-2-1-2(complete or in process of) which is teribly bearish for this currency especially after the weekly close bellow the monthly central pivot point and the break of the 200 period EMA on this 4hr chart.

Happy Trading
Ahmed Farghaly



NOTE: INVALIDATION WOULD BE A BREAK ABOVE 1.6470