It is very likely that USDHCF ended its correction and prepares for a channel breakout.
It missed to touch the lower channel line and started a rally in an impulsive way.
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EURUSD close to the end of correction
EURUSD approaches the end of wave-c, which means the end of correction is near.
An impulsive downward movement from 1.3260 would confirm this setup. A break above 1.3370 would invalidate it.
USDCHF – heading higher
It looks like that USDCHF soon reaches the end of its double three correction.
The target for the next wave (3) is around 0,9450.
Or if it is a wave-c, the target is 0,9300-,09350.
CHFHUF long term perspectives
CHFHUF seems to be in the end of wave-b of wave-4.
Further pullback is expectable to 225-230 area, then a strong rebound to new highs, far beyond 280 as wave-5 of wave (3) develops.
A break below 220 would invalidate this wavecount and open the possibility of further
strenghtening of HUF.
Gold, S&P500 and inflation
Current P/E ratio of S&P500 is about 14-15.
The following chart shows that the best buying opportunities occur when the ratio is below 10.
The following chart shows some interesting negative correlation between gold price and
US dollar index.
And the last chart shows how inflationary/deflationary periods reflect in the price of gold.
EURUSD start of a new downtrend
A zigzag correction is approaching its end.
The last 5 wave may not be completed, but if price breaks below 1.3275 it can mean the beginning of a new downtrend (wave C or wave 3).
And on H4 :
USDJPY wave 5/(i) finished
Wave (i), then wave a completed. Now in wave b.
Wave c target: 82.25
After the closing bell it looks like a completed retracement, and we are in a 3rd wave.
Confirmation above 83.20.
USDCHF wave (2) complete
After today trading it looks like that CHF completed wave (2) of wave III.
This week wil tell, whether it is a start of wave III, or we are still in wave II.
USDHUF ready for new highs?
It seems that USDHUF completed the correction from 250 highs, back to the broken trendline.
If price breaks above 225, it confirms that we are in wave iii.
If price breaks above 250, usdhuf can reach the 300 territory in wave 3.
