


NeverNO
EssentialGBPUSD should bottom around mid '23. Since November '07 GBPUSD has been literally caught in a huge falling wedge that has been dominated by the bearish situation for years. Whether the price continues as I indicated with the 3 paths (blue, red, black) or varies somewhat, it doesn't really matter for the last, deep goal. Apparently even the bulls have become bears...
EURJPY again but in the big picture where I see an ABC formation that can extend over 50 years in total. 2/3 are already done. If this view is confirmed, then the @141.059 price level could act as a strong resistance from which a multi-month pullback can start to form the gray B. Even if - contrary to expectations - there were a direct increase to 144.798, the...
Since the last high on April 20th, NZDJPY has started ABC correction. See tomorrow if wave 4 of the A is over, then you could short for the final wave 5. In June I expect black B which should reach 83,636 and eventually 84,466. Keep an eye on these levels because after that there is a nice falling track to complete the C.
Setup: red ABC correction Weekly: Until the DOW closes above 33080, there is a risk of even bigger losses. Next destinations: 1.31537 2. 30946 If the selling pressure doesn't abate a break of 30,000 can still be expected and in that case 29926 is on the cards. Temporary recovery is to be expected in each case until the stated targets are reached. Condition: no...
Not much needs to be said here, except that don't be surprised if the red c is equal to the red a and it can fall at the same angle. Currently I see the yellow circles as TP. It remains to be seen whether 1,618% of the black (A) will also be achieved (grey circle).
Here is a vision of the Grand Super-Cycle! The chart is self-explanatory. If the price develops as assumed, it should reach 7582.78 by around mid-2023. This should be followed by 5 bullish years... aiming for between 20280 and 22440. That would be a trader's dream!
If we see the close (on a daily basis) below 13086 next week then there are another ~700 points to come. We should wait for the first week of May for a possible rebound. Until then, closest support is in the region between 12420 & 12330. If this zone holds, then it could be ABC = wave 1. If this zone breaks, then there are another 1300-1400 points to the south.
In between again a chart. On March 29, the price dropped to SMA 50 and from there it bounced. As long as SMA 50 serves as support, I anticipate a potential bullish ABC correction. If you see that the Detrended Price Oscillator has risen above the zero line, then the trend is bullish and v.v. Applies to all time windows... watch this so you can orientate yourself...
Here - on the monthly chart - three more possibilities, where I first point to a low in February (March at the latest), where the red A would have ended and if 28950 holds, then after the B, the red C should end in the third quarter, possibly in August. The December 2017 high is the initial support for the blue wave 4, but it can easily reach 19682.59 and 19161.37...