Sunday, January 29, 2017

AUDNZD - Got "X-ed" again


The "bully" AUD/NZD made some progress but it surely wasn't what I hoped for. I still believe the larger pattern suggests this pair will go up, the question is "when". 

As it turns out that latest move up is most likely another X-wave. So I assume we are now going down in a Z-wave but this pair shouldn't trade under 1.0237 (invalidation).

Also note that EUR/NZD seems to be in the late stages of an ending diagonal. I would make sense that both pairs will turn roughly at the same time.

AUD/NZD daily chart:


AUD/NZD: 60min chart:



EUR/NZD daily chart:




Sunday, January 8, 2017

AUD/NZD Update

The big move still has to come but at least it moves in the right direction. An alternative scenario would be that this up movement is a B-wave of a flat and then we should see a last leg down later on to complete wave 2.

60 min chart:

Daily chart:


Dollar Index Update

The Dollar index (DXY) seems to have completed wave 4 in an "expanded flat". So I assume it's now in the process of developing a minor wave 1 (of larger wave 5). 

An alternative scenario would be that it is now in the process of making an X-wave and wave 4 turns out to become a "double three". Either way, this picture suggests a decent rally is coming and ultimately we will see new highs.


USD/CAD Ready For a Last Leg Up

The way I see it we're in the last part of a triple three on this pair. It looks that wave B was complete last Friday (see 5min chart, impulsive move up). So this should be the last leg up before it collapses.

This scenario corresponds nicely with the Dollar index which has to make one move up as well. It seems a great trade to me if it plays out this way.