EUR/USD Bulls Steamroll Over 1.0950 Zone

Dear traders, the EUR/USD broke above the key resistance zone at 1.0950. The breakout and strong bullish impulse invalidated the bearish outlook. What is next for this pair?

4 hour chart

EUR/USD 4 hour chart

The EUR/USD made a close and reverse. The confirmation of the bullish reversal took place after price action was able to break above the channel resistance (dotted red) and long-term trend line (dotted red). Price could now be in a bullish wave C (green). The bearish swing has probably completed a wave C (purple). More upside is likely at the moment.

1 hour chart

EUR/USD 1 hour chart

The EUR/USD break seems to be a wave 3 (orange) pattern. After completing a sideways correction in wave 4 (orange), price broke again to the upside. The next target could be as high as 1.11. Eventually a bearish retracement is expected to take place. If pullback is mild, then more upside is expected.

EUR/USD

Good trading,

Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading)

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USD/JPY Bearish ABC Zigzag Pattern Aims at 61.8% Fib

Dear traders, the USD/JPY made a bearish bounce at the top of the bullish channel. This could confirm the start of the final wave E of a larger triangle pattern.

Weekly chart

USD/JPY Weekly chart

The USD/JPY could be building a bearish ABC zigzag pattern within wave E (purple) of wave B (red). The ABCDE triangle chart pattern (purple) could become invalidated (red x) if price action breaks below the bottom and 100% Fibonacci level.

Daily chart

USD/JPY Daily chart

The USD/JPY is likely to test the support line (blue) of the uptrend channel. A bullish bounce could indicate the end of wave A (pink) and the start of a wave B. A bearish breakout confirms (green check) the move lower towards the Fibonacci support of wave E vs D.

USD/JPY D2 chart

Good trading,

Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading)

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EUR/USD Bear Flag Pattern Retests Critical Fibs at 1.09

Dear traders, the EUR/USD is building a bear flag chart pattern back to the Fibonacci retracement levels of wave 4 vs 3. Will price respect the resistance zone?

4 hour chart

EUR/USD 4 hour chart

The EUR/USD is testing the Fibonacci resistance of wave 4 vs 3. A bearish bounce and breakout confirms (green checks) the end of the wave 4 (dark red) and the start of the wave 5 (dark red). A bullish break above 1.0950-1.10 invalidates (red x) the downtrend. A bearish continuation aims at the Fibonacci targets.

1 hour chart

EUR/USD 1 hour chart

The EUR/USD is showing strong bullish momentum at the moment. Price is likely to move up to the 50% Fib at 1.0920, which is the next key decision zone for a bullish breakout or bearish bounce. Strong momentum above the 61.8% Fib at 1.0950 invalidates (red x) the wave pattern. A bearish bounce and breakout confirms the wave 4 (dark red).

Good trading,

Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading)

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GBP/USD Bullish Impulse Challenges 1.30 Resistance Zone

Dear traders, the GBP/USD made a lower high after showing bullish momentum. Can the Cable make one more rally within the range?

4 hour chart

GBP/USD 4 hour chart

The GBP/USD price action remains choppy. The trend lines indicate the lack of a trend. But the bullish impulse could be labelled as a wave 1 (green) after price action completed a potential bearish wave C (orange). This is invalidated (red x) if price is able to break below the 100% Fib level. A break above the resistance levels (red) could indicate a move up to 1.31 or 1.3150 and the next resistance zone (red).

1 hour chart

GBP/USD 1 hour chart

The GBP/USD is showing a potential bullish impulse as a wave 1 (green). But the wave pattern can also be a wave A for a larger ABC pattern. The key levels remains the bottom at 1.2850 for a bearish breakout and 1.30 resistance for a bullish breakout.

Good trading,

Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading)

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EUR/USD Bullish Pullback in Massive Wave 3 Downtrend

Dear traders, the EUR/USD made a bullish pullback on Friday. But price action was unable to move above 1.0850 due to the massive downtrend.

4 hour chart

EUR/USD 4 hour chart

The EUR/USD seems to have completed a minor wave 3 (dark red). Many other wave 3 patterns remain unfinished. Price is expected to continue with the downtrend once price completes its wave 4 (dark red) pullback. Price will probably expand the wave 4 with a new high at the 38.2% Fibonacci retracement level – unless price is able to push below the support zone (blue) immediately. The next target is the 1.0750 support zone where a new wave 4 (orange) could develop.

1 hour chart

EUR/USD 1 hour chart

The EUR/USD could be building an ABC (green) flat correction within wave 4 (dark red). A bearish breakout or bounce (green check) could confirm the downtrend continuation. A break above the 50% Fib makes the wave 4 less likely (red x).

Good trading,

Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading).

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USD/JPY Creates 250 Pip Surge in Bullish Wave 3

Dear traders, the USD/JPY made a massive bullish breakout. The impulsive price action is typical for a wave 3 (green). More bullish swings are likely to follow.

4 hour chart

USD/JPY 4 hour chart

The USD/JPY has strongly moved away from the 21 ema zone as our previous wave analysis expected. Price will probably bounce at the support (green check) for a move higher. The main targets levels are the Fibonacci levels of wave C vs A (pink) and the wave D (purple). Only a deep retracement would invalidate (red x) the bullish outlook.

1 hour chart

USD/JPY 1 hour chart

The USD/JPY has moved up in 5 strong waves (green). This seems to complete a wave 3 (green) pattern. Now price could build a shallow pullback for a wave 4 (green). A breakout or bounce could confirm (green check) the uptrend continuation towards the Fib targets. A break below the 50% Fib invalidates (red x) the wave 4.

Good trading,

Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading)

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GBP/USD Impulsive Bearish Break Aims at 1.2750 Target

Dear traders, the GBP/USD made a critical bearish breakout below the support trend lines (dotted blue). This indicates a strong downtrend continuation.

4 hour chart

GBP/USD 4 hour chart

The GBP/USD was building a bull flag pattern, but the chart pattern failed to break north. The lower low is now confirming a bearish ABC (orange) zigzag pattern instead. The bears are aiming for the 61.8% Fibonacci level of wave 4 vs 3. The 61.8% Fib is the last defense of the bulls for this wave 4 (blue).

1 hour chart

GBP/USD 1 hour chart

The GBP/USD is showing strong bearish momentum. This is typical for a wave 3 (gold). The breakout below 1.29 should send price towards the Fibonacci targets. Multiple wave 3-4-5 patterns can form them, which could send price all the way to 1.2750. A break above 1.2950 is not expected (red x).

Good trading,

Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading).

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EUR/USD Expects Pullback to 1.0850-1.09 & Again Downtrend

Dear traders, the EUR/USD is in a massive bearish price swing. This is probably a wave 3, which indicates that a longer downtrend is expected. Today’s FOMC, however, could cause a pullback.

4 hour chart

EUR/USD 4 hour chart

The EUR/USD could be completing a wave 3 (dark red) pattern near the 1.0750 support zone. A bullish pullback is expected to be slow, choppy, and corrective wave 4 (dark red). An unexpected break above the 61.8% Fib of wave 4 vs 3 invalidates (red x) this wave 4. A bearish trend is aiming for the Fibonacci targets of wave 3 vs 1.

1 hour chart

EUR/USD 1 hour chart

The EUR/USD seems to have completed 5 internal waves within wave 3 (dark red). The extension has lasted long with multiple 5 internal waves. A bearish breakout below the support trend line (blue) could confirm the downtrend continuation. Also a bearish bounce at the 23.6% and 38.2% Fibs is likely.

Good trading,

Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading)

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USD/JPY Bearish Wave 4 Prepares for Uptrend Above 110

Dear traders, the USD/JPY is building a minor and shallow pullback at the previous top. The wave patterns indicate a potential bearish ABC (green) for a strong move higher.

4 hour chart

US Dollar Yen 4 hour chart

The USD/JPY needs to break above the top (red) before a larger bullish trend continuation can be confirmed (green check). The main targets are the Fibonacci targets of wave C vs A. A break below the 50% Fib invalidates (red x) the expected wave 4 (blue) pattern.

1 hour chart

US Dollar Yen 1 hour chart

The USD/JPY is building a lengthy correction, which is typical for a wave 4 (blue). But the consolidation zone seems almost over, if indeed the wave C (green) pattern is complete. One last bearish push could send the USD/JPY lower towards the Fibonacci retracement of wave 4 vs 3 if price breaks below the support line (blue). A break above the resistance zone (red), however, could indicate the start of an uptrend.

Good trading,

Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading).

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EUR/USD Bearish Momentum Confirms Wave 3 & Aims at 1.0750

Dear traders, the EUR/USD is showing a very strong bearish impulse. This momentum is typical for a wave 3 pattern. What are the downside targets?

4 hour chart

euro US Dollar 4 hour chart

The EUR/USD has broken below the critical 1.0880-1.09 support zone. This invalidates the previous analysis which expected a bullish reversal at 1.09. The current momentum and wave 3 is expected to push further in February. A pullback to the 21 ema zone and resistance trend line (red) might occur. But price action is expected to continue towards the 1.0750 support zone.

1 hour chart

euro US Dollar 1 hour chart

The EUR/USD is either building a minor wave 4 (light blue) or a deeper wave 4 (dark red). The shallow wave 4 (light blue) remains likely as long as price stays below the 50% Fibonacci at 1.0855. But a break above this 50% Fib makes a deeper wave 4 (dark red) and larger bear flag more likely. Price could retrace towards 1.09-1.0950 at the 38.2-50% Fibs of wave 4 vs 3. A bearish breakout is aiming for the 200% Fib at 1.0750-25.

Good trading,

Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading)

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USD/JPY Builds ABC Flat Correction Before 110 Resistance

Dear traders, the USD/JPY is building a bearish pullback at the previous top (red), which is a key decision zone for a bullish break or bearish reversal.

4 hour chart

The USD/JPY was unable to break the top and resistance (red) with its first breakout attempt. Price is now retracing back to the Fibonacci levels of wave 4 vs 3. A bearish break below the 50% invalidates (red x) the wave 4 (blue). A bullish break confirms (green check) the move up towards the Fibonacci targets.

1 hour chart

The USD/JPY is building an ABC flat correction (green) within wave 4 (blue). The current wave C (green) is expected to finish at the Fibo levels of wave 4 (blue). A break below the 50% (red x) indicates a different wave count.

Good trading,

Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading)

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GBP/USD Bullish Reversal after Bouncing at 50% Fibonacci Support

Dear traders, the GBP/USD made a higher low, which could confirm the end of the bearish price swing and wave C (orange). Is the Cable ready for a reversal?

4 hour chart

GBP/USD Pound US Dollar Forex

The GBP/USD has been bearish after the break below support (dotted blue). But price action made a bullish bounce at the 50 Fibonacci of wave 4 vs 3. And price also broke above the resistance trend line (dotted red). A break above the channel could confirm (green check) the bullish price swing and reversal.

1 hour chart

GBP/USD Pound US Dollar Forex

The GBP/USD break below the 100% Fib invalidates (red x) the bullish reversal. Price is now building an ascending wedge chart pattern. A bullish break above resistance (red) could confirm (green check) the move up. A key break will also be a push above 1.30.

Good trading,

Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading)

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EUR/USD Bearish Freefall Drops 200 Pips and Reaches 1.09

Dear traders, the EUR/USD is showing massive bearish momentum. The expected downtrend is now unfolding in 5 waves (orange). Can price action even break the bottom of wave 3 (blue) at 1.0881?

4 hour chart

EUR/USD euro US dollar 4 hour chart

Our EUR/USD wave analysis was expecting a bearish wave 4-5 (green) pattern within a wave C (blue). The bearish breakout indeed confirmed our bearish view. However, the momentum is much stronger than expected. Price could be building a larger bearish wave 3 (rather than a wave C) if it’s able to break below the 100% Fib of wave 2 vs 1 at 1.0881.Also, Ultima EA had massive wins with the +/- 7 shorts on the EUR/USD. The winning streak is sending the account sky high.

1 hour chart

EUR/USD euro US dollar 1 hour chart

The EUR/USD made a pullback pattern after Friday’s NFP event. This has been labelled as wave 1-2 (dark red). Yesterday price was able to break the support line (dotted blue) for a new lower low, again. The bearish impulse remains strong, so the price swing has been labelled as a wave 3 (dark red). The current pullback could be a wave 4 (dark red) as long as price action stays below the 61.8% Fibonacci retracement level of wave 4 vs 3. A bearish breakout could confirm a move lower towards the Fib targets.

Good trading,

Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading)

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USD/JPY Triangle Patterns Indicates Breakout Above 110 Level

Dear traders, the USD/JPY is building a triangle chart pattern in front of the previous top. Although the resistance zone remains dangerous, a bullish breakout is expected.

4 hour chart

USD/JPY 4 hour chart Forex

The USD/JPY breakout above the triangle pattern resistance and the previous top could confirm (green check) the push higher towards the Fibonacci targets of wave C vs A. A break below the support trend line (blue) and the long-term moving averages could invalidate (red x) the wave outlook.

1 hour chart

USD/JPY 1 hour chart Forex

The USD/JPY is building a bearish pullback after building a rising wedge reversal chart pattern. The shallow retracement could confirm a wave 4 (blue) pattern. The bullish breakout (green check) above the resistance (red) could indicate the start of a wave 5 (blue) pattern.

Good trading,

Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading)

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GBP/USD Strong Impulse Triggers Bearish Wave 3 Pattern

Dear traders, the GBP/USD made a second bearish breakout below the support trend line (dotted blue), which confirms the development of a bearish wave C (orange).

4 hour chart

GBP/USD Forex

The GBP/USD bearish continuation within wave C (orange) seems likely after price completed a wave B (orange) correction. The main target is the 50% Fibonacci level of wave 4 (blue) at 1.2850, which is a key bullish bounce or bearish break spot.

1 hour chart

GPB/USD Forex

The GBP/USD completed a bullish ABC (dark red). Price then broke below support (dotted blue). Price is now testing the Fibonacci retracement levels of wave 4 vs 3 (green), which are likely to act as a bearish bounce spot. The wave 4 remains valid as long as price stays below the 61.8% Fib. A bullish break invalidates (red x) this wave outlook. A bearish breakout, pullback, and continuation would confirm (green check) the wave 5 (dark red).

Good trading,

Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading)

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EUR/USD Bearish Impulse And Flag Aims at 1.0940 Target

Dear traders, the EUR/USD broke below the support trend line (dotted blue) and is building on a bearish continuation as our wave analysis expected. What is the main target for the bears?

4 hour chart

The EUR/USD main target is at 1.0940-50 whereas a minor target zone is located around 1.0975. A bearish breakout (orange arrows) could confirm (green check) the wave 5 (green) pattern of a larger wave C (blue) of wave 2 (purple). A bullish reversal candlestick pattern in the target zone could indicate the end of that wave 2 (purple) and a potential new uptrend.

1 hour chart

The EUR/USD is building a small bear flag chart pattern, which is usually a continuation pattern. The strong bearish momentum prior to the flag also indicates that bears are likely to keep control and push price action below the flag. A breakout would confirm (green check) the move towards the Fibonacci targets whereas an unexpected break above the 61.8% Fib and resistance trend line (red) invalidates (red x) the wave 4 (dark red).

Good trading,

Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading)

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Coronavirus Creates Massive False Break with GBP/USD Triangle

Dear traders, the GBP/USD bullish breakout of the triangle chart pattern failed and turned out to be a false breakout. What is the next price swing for the Cable now that the bulls have lost control?

4 hour chart

The GBP/USD made a picture perfect ABCDE triangle chart pattern and price action moved almost exactly as our wave patterns expected. The ABCDE were completed and a strong push up seemed to confirm the bullish wave 1. With more than 10 correct analyses in row though, 1 incorrect is I guess a question of time. The breakout turned out to be a false one and price has been falling quickly instead. It seems that Coronavirus is pushing the USD up. That means that the GBP/USD could now be building a complex WXY (green) correction instead. The bearish breakout below the support trend line (dotted blue) could indicate a decline towards the Fibonacci levels of wave 4 vs 3.

1 hour chart

The GBP/USD seems to be building a bearish 5 wave pattern (dark red). Price could still be pushing lower within the wave 5 or eventually build a bullish ABC correction within wave B (orange). Price is expected to turn back down without breaking the top and 100% Fib because that would invalidate (red x) the ABC zigzag.

EUR/USD Builds Wave 4 Pullback Towards 50% Fib at 1.11

Dear traders, the EUR/USD made a deep bullish retracement towards the 50% Fibonacci level, which could be part of the wave 4 (green) as expected last week. Will the EUR/USD make a bounce?

4 hour chart


The EUR/USD must bounce at the 50% Fib and 1.11 resistance spot to confirm the wave 4 (green) pattern because a push above 1.1125 invalidates (red x) it. A confirmation (green check) is the bounce and breakout below the support trend line (blue). The main target zone is the 1.0950-75 support levels.

1 hour chart

The EUR/USD seems to have completed a bullish ABC (orange) pattern in wave 4 (green). But price will need to show a lower low and lower high to confirm a bearish reversal. Another high could still be a wave 5 of wave C (orange) as long as price stays below 1.1125. A break below the 21 ema zone could be a first confirmation (green check) of a bearish reversal whereas a break below the support line (blue) could finalize it (green check).

Good trading,
Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading)
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USD/JPY Bullish Reversal After Hitting 61.8% Golden Ratio

Dear traders, the USD/JPY made a bullish bounce at the 61.8% Fibonacci retracement level, which could complete an ABC (blue) pattern of the wave 2 (purple) retracement.

4 hour chart

The USD/JPY needs to break above the resistance trend line (red) to confirm the end of the wave 2 (purple). A push above the resistance trend line could also confirm the start of a potential wave 3 (purple) pattern towards the Fibonacci targets of wave C vs A. A break below the 100% Fibonacci level of wave 2 vs 1 invalidates (red x) the current wave 1-2 pattern.

1 hour chart

The USD/JPY bear flag indeed turned out to be wave 4 (green) pattern. The bounce at the resistance (red) and break below support (dotted blue) confirmed the expected wave 4-5 (green) pattern. The bullish bounce now suggests a potential wave 1-2 (blue) reversal pattern as long as price action stays above the bottom of wave 1 (blue) otherwise it would become invalidated (red x).

Good trading,
Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading)

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GBP/USD Lengthy Triangle Pattern Awaiting Major Break Soon

The GBP/USD is completing a triangle pattern, which can break in both directions (green checks). The main decision will be made once price is able to break above resistance (red) or below support (blue).

4 hour chart

The GBP/USD could be in a bullish triangle. In that case price could have just completed the final wave E (green) pattern. This scenario is confirmed as long as price action stays above the support (blue) and if price action can break above the resistance line (red). The triangle could also be bearish. In that case, a push up could be a wave E (dark red) and price action is expected to push below the support (orange arrows).

1 hour chart

The GBP/USD could be building a bullish ABC (pink) if the triangle pattern is bearish or a 123 (green) of the triangle is bullish. A bullish triangle becomes more likely if strong impulsive price action can break above the 61.8% and 161.8% Fibs. A strong bearish bounce, however, and breakout could indicate a bearish triangle and downtrend.

Good trading,

Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading)

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