Forex Technical Analysis

USDSGD Wolfe Wave Continued

Following on from the previous post looking at the USDSGD 1D chart, the price has now followed the expected path and has traded back into the wedge.

Wolfe Wave analysis of USDSGD

For the past week, we have seen a drop in the value of USDSGD following on from a harmonic pattern.

Weekend Chart Viewing

Look at 3 different charts using multiple forms of technical analysis and indicators.

WTI Wolfe Wave, will we see a sustained reversal

In the past few days, we have seen a reversal in the price and it has traded back towards and through the lower edge of the wedge.

The Bullish Butterfly, continuing our look at AUDUSD

After the brief rally on Friday off the new lows the market has crept back lower today allowing traders to enter this trade at a more favourable price than before.

Are we seeing a Bullish Butterfly in AUSUSD?

The price has retraced 61% since the high back in November 2016 and the latest fall has created a Bullish Butterfly pattern.

Wolfe Wave analysis of USDCAD, continued

The USDCAD rate has continued to climb higher past the initial high of the last wave of the Wolfe pattern. The continued rise has now completed the last leg of a bearish butterfly pattern giving another confirmation that this area could see a reversal.

Wolfe Wave analysis of USDCAD, will we see a reversal?

The USDCAD rate has been rising in value over the past couple of weeks and if we see a reversal now we could be looking for a strong move lower.

Which way will AUDUSD go?

Currently, we have two harmonic patterns fighting, with an orange bullish Gartley and a blue bearish butterfly.

Has the GBPNZD run too far?

We have two bearish Harmonic patterns formed in GBPNZD and an overbought reading on the RSI, are we about to see a reversal?

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