ABC
ABC has scored analyst upgrades heading into JulyFinally, coronavirus vaccines and treatments should serve as a tailwind for the health care industry as a whole. Hardy is projecting mid-single-digit earnings growth over the long term, including 9% earnings per share growth in fiscal 2020. CFRA has a "strong-buy" rating and a $109 price target for ABC stock.
GBP/USD (GBPUSD) will bears attack for more price reduction ? GBP/USD (GBPUSD) has ended impulse wave sequence A from last swing low 1.22526 to 1.25287 and started correcting it as expected previously. It completed the a wave down of B as abc correction. Wave b is under progress and may take more time to complete in 10 min time frame. Thereafter c wave will start to fall again to complete the whole B wave. The invalidation level of 1.25287 will be stops for sell trade and probable target of B wave correction will be 1.23892 - 1.23757 zone. Keep eye on internal b wave to end to get in to.
GBPUSD BuysGU showed powerful signs of reversal at 1.22560 area. Double Bottom with higher low (78.55% success rate) followed by a huge bullish move confirmed a trend reversal. Then, waiting for An ABC higher high and higher low to further confirm a start of an uptrend. Now looking for buys on a break and retest with fibonnaci confluence and EMA confluence as well. Top down analysis confluence from the Daily, 4hr and 2hr confirms this move as well. High Probability setup with good Risk Management.
Dax could correct to the upside some moreAfter a channel break out there could be a continuation of a bigger corrective move to the upside in the German index
THE 💤 SLEEPING GIANT IS AWAKING For 60 days straight Bitcoin didn’t really have moved.
IT IS SHOW TIME
EURCAD wsell setupI'm expecting EURCAD to make another push down on higher time frames, but I am anticipating a flat or diagonal structure here, so I am selling but just looking to break that low that I marked.
EURGBP - Completing Correction Wave CFX:EURGBP is currently completing the correction wave C as shown.
Bitcoin (BTCUSD - Bitfinex) - WXY wave patternBitcoin (BTCUSD - Bitfinex) has completed impulse five wave sequence from bottom shown in 60 min chart. Now it is correcting it WXY down cycle and moving up in X wave, which is about to over and will start moving down in Y wave.
Dow Jones Industrial Average (DJI - NYSE) - ABC wave patternDow Jones Industrial Average (DJI - NYSE) is in ABC zigzag move from last low dated 24 March. It is moving up in 5th wave of C wave in ABC pattern (or 3rd wave as impulse). In weekly time frame it is in 5th wave up as impulse cycle, which means in 2 hour time frame, it must be impulse or diagonal structure in up direction.
EUR/USD (EURUSD) - Updated Elliott wave countEUR/USD (EURUSD) has completed 5th wave of A wave of ABC cycle of Y wave as shown in chart. Now wave B correction down is in progress, which aligned with DXY. After that one more wave C up will proceed further to complete the cycle.
US Dollar Index (DXY) - Updated Elliott wave countUS Dollar Index (DXY) has completed 3rd wave of C wave in ABC sequence of Y wave in WXY wave and now correcting up in 4th wave of C. As mentioned previously that price moving down in WXY complex correction, where W & X already over and Y wave is divided in ABC flat wave, where A & B were three wave movement and C impulse is running down.
GBP/USD (GBPUSD) - Updated Elliott wave countGBP/USD (GBPUSD) has completed 3rd of C wave. Now it is in 4th wave correction. Alternately one more high is possible to complete the 3rd wave as the slope is very steep. Will see how chart moves.
Tencent Holdings Ltd (700 - HK) - ABC wave patternTencent Holdings Ltd (700 - HK) is in ABC zigzag wave pattern and moving up in C wave up. It is in 1st wave of C, which is about to end soon and 2nd will correct it down. Watch the invalidation level closely. In weekly time frame it is a very strong stock of HSI and in the 3rd wave of 5th wave impulse, which is further subdividing as extended wave.
USD/CAD (USDCAD) - Updated Elliott wave countUSD/CAD (USDCAD) has completed 3rd wave of C wave down as ABC sequence of Y wave. Now it is correcting in 4th wave up. From triangle X wave, Y wave down is moving in simplex ABC zigzag, where C ware is extended.
EUR/USD (EURUSD) - Updated Elliott wave countEUR/USD (EURUSD) in 5th wave correction of A wave of ABC cycle of Y wave as shown in chart. Now wave B correction down in progress, which aligned with DXY. From major low made on 23rd April, price is moving up in (W)(X)(Y) wave up, where (W) and (X) were over and (Y) moving up in further WXY. Currently Y wave subdivided in ABC, where B is finally in progress, after that one more wave upC will proceed to wave Y completion.
AUD/USD (AUDUSD) - Impulse wave upAUD/USD (AUDUSD) is about complete 5th of 3rd wave impulse as shown in 60 min chart. It is the part of C wave as ABC zigzag pattern from major bottom. The divergence is showing the move now need to correct before further resumption.
GBP/USD (GBPUSD) - Updated Elliott wave countGBP/USD (GBPUSD) is in internal 4th wave correction of extended 5th of 3rd of C wave. Reading this is quite confusing but follow the chart to understand, what I am going to say is in final wave of 3rd wave up.
Bank of America Corp (BAC - NYSE) - ABC wave patternBank of America Corp (BAC - NYSE) is in B wave, which starts from today upside against A five wave down as correction. After that C wave will be next down cycle. In weekly time frame it’s completed ABC wave cycle from 2009 low and now it is in correction. It is a weaker banking stock of NYSE, which is under-performing SPX. It is not confirmed that corrective WXY wave up is over. So wait for confirmation to trade bigger C wave cycle down.
GBP/USD (GBPUSD) - Updated Elliott wave countGBP/USD (GBPUSD) is now in 5th internal of 3rd wave up of C wave. The invalidation level is now 2nd wave low to retain the count valid. It is extending in smaller waves, so sometimes its hard to pinpoint exact waves to connect the whole cycle.
USD/CAD (USDCAD) - Updated Elliott wave countUSD/CAD (USDCAD) is in A of Y wave down as ABC zigzag. Wave (Y) is subdividing in WXY where W wave was completed in ABC zigzag move after triangle completion. X wave was flat correction and now Y is in ABC wave sequence.
US Dollar Index (DXY) - Updated Elliott wave countUS Dollar Index (DXY) is in internal 5th of 3rd of C down of Y wave of major (Y) wave down. What I am talking is more difficult to understand, but watch the chart carefully. After that 4th wave correction flat or triangle expected as 2nd was sharp.
