Category: Forecasts

Gold forecast as of 10/19/2009

Gold –  Elliott shows yet again that the “Zig-Zag”(ZZ) up is not done and is in the process of 3rd wave in the  range of  984.70 – 1086.46 between  September 14th and December 24th.

Market needs to move below 1020.00 to have any confidence of calling the end of the up move.

GOLD5_091019_Blog

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

British Pound forecast as of 10/19/2009

GBPUSD –Elliott shows that market finished “Zig-Zag” (ZZ) 2nd wave and is in the process of  ZZ 3rd wave in the range of 1.7036 – 1.9617 between December 1st and May 11th .

Market move below recent lows means that ZZ 2nd wave is not complete after all.

GBPUSD5_091019_Blog

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Euro forecast as of 10/19/2009

EURUSD – Market continued to move up, so Elliott is still showing  “Double Zig-Zag” (DZ) 3rd wave in the range of 1.5496 – 1.5909 between September 2nd and October 26th .

Market has quite a bit more to go to reach DZ likely price range but is very much in the “Zig-Zag” 3rd wave likely time and price area. Market move below 1.4500 will mean the up move is over for a while and new longer-term wave down has started.

EURUSD5_091019_Blog

Double Zig-Zag is a three wave pattern, where 1st and 3nd wave is Zig-Zag and the 2nd wave is corrective in nature.

Crude Oil forecast as of 10/13/2009

QMX9 – Market moved a little bit above the recent trading range. This might mean that finally the “Zig-Zag” (ZZ) 3rd wave in the range of 73.29 – 102.46 between August 10th and October 6th will be finished.

QMContinues_091013_Blog

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Gold forecast as of 10/13/2009

Gold –  Market continuous move up has changed the forecast slightly and Elliott shows yet again that the “Zig-Zag”(ZZ) up is not done and is in the process of 3rd wave in the  range of  984.70 – 1086.46 between  September 14th and December 24th.

Market needs to move below 1020.00 to have any confidence of calling the end of the up move.

GOLD5_091013_Blog

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

British Pound forecast as of 10/13/2009

GBPUSD –Elliott shows again that market is in the process of  “Zig-Zag” (ZZ) 2nd wave in the range of 1.5059 – 1.6298 between September 11th and December 30th .

Market is in the likely time and price area; hence the move could be over anytime. At the same time, there are quit a bit of room to move both price and time wise, so nothing is set in stone.

GBPUSD5_091013_Blog

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Euro forecast as of 10/13/2009

EURUSD – Market continued to move up, so Elliott is still showing  “Double Zig-Zag” (DZ) 3rd wave in the range of 1.5496 – 1.5909 between September 2nd and October 26th .

Market has quite a bit more to go to reach DZ likely price range but is very much in the “Zig-Zag” 3rd wave likely time and price area. Market move below 1.4000 will mean the up move is over for a while and new longer-term wave down has started.

EURUSD5_091013_Blog

Double Zig-Zag is a three wave pattern, where 1st and 3nd wave is Zig-Zag and the 2nd wave is corrective in nature.

Crude Oil forecast as of 10/06/2009

QMX9 – Market is still in range and Elliott is still showing that market is in the process of “Zig-Zag” (ZZ) 3rd wave in the range of 73.29 – 102.46 between August 10th and October 6th.

This range trading has been going on unusually long for oil market, so be ready for breakout any time.

QMContinues_090929_Blog

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Gold forecast as of 10/06/2009

Gold –  Like mentioned last week, market making new highs will not necessarily change the forecast and so it appears to be – Elliott shows that “Zig-Zag”(ZZ) up is finished and move down has started. Based on current chart, market is in the process of “Double Zig-Zag” (DZ)  2nd wave in the  range of  918.53 – 982.57 between  November 3rd and February 26th.

Market can move as high as 1092.00 without invalidating this pattern. If market does not start moving down before October 26th, tho, we might be dealing with different combination altogether.

GOLD5_091006_Blog

Double Zig-Zag is a three wave pattern, where 1st and 3nd wave is Zig-Zag and the 2nd wave is corrective in nature.

British Pound forecast as of 10/06/2009

GBPUSD – With slight difference, Elliott shows now that market is in the process of  “Double Zig-Zag” (DZ) 2nd wave in the range of 1.4804 – 1.6160 between September 21th and January 14th .

Market has touched the likely time and price area; hence the move could be over anytime. At the same time, there are quit a bit of room to move both price and time wise, so nothing is set in stone. If the market does brake the recent low that it has tried in last several weeks, it is more likely that it will continue lower.

GBPUSD5_091006_Blog

Double Zig-Zag is a three wave pattern, where 1st and 3nd wave is Zig-Zag and the 2nd wave is corrective in nature.

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