miroslava.micunkova's blog

miroslava.micunkova's picture

The lagging EURZAR is now about to catch up to USDZAR rally

USDZAR & EURZAR have both experienced a multi-year rally which started in early 2011 and peaked in January 2014. Their performance started to diverge by mid 2014 when USDZAR completed a short (23.6%) correction of the 6.549-11.388 advance and headed higher anew.

miroslava.micunkova's picture

Is EURGBP still looking into unfavourable future?

EURGBP has been moving in a 6 years+ bear channel after hitting an all-time traded high at .9801 in 2008. Two major counter-trend movements developed in 2010-2011 and 2012-2013 leaving two consecutive lower tops at .9083 & .8769.

miroslava.micunkova's picture

EURAUD preparing foundations for lasting strength?

Looking at EURAUD over the past decade, an important floor was established around the 1.5480-1.5550 area. Above mentioned support was first lost in February 2010, approximately halfway through the decline from the 2.1099 all-time traded high.

miroslava.micunkova's picture

USDCAD is checking out the Eve’s round bottom

USDCAD underwent a multi-year decline from the early 2002 till late 2007 before bottoming out at .9061. Recovery from there reached 1.3063 in March 2009 before submitting into a further weakness.

miroslava.micunkova's picture

Is there a silver lining for a tarnished Silver?

Silver remains primarily bearish, with the price action having been contained within bearish channels for several years. A major bearish distribution pattern which took a shape of a horizontal triangle, developed throughout 2013-2014. Break-down below the 18.263-18.650 base in November last year signalled a completion, prompting losses to a 5 year low at 14.536 on 28 November.

miroslava.micunkova's picture

Ten year uptrend-line in EURUSD gave way. Long-term targets point at parity and lower

EURUSD saw an all-time traded high at 1.6039 in July 2008 ahead of a major slump which retraced close to 50% of the 2001-2008 advance. Since then, EURUSD has produced a series of wide swings forming a sequence of lower tops throughout 2009-20014.

miroslava.micunkova's picture

Will Copper follow the same fate as Oil & Gold?

Copper saw a major rally back in 2009 - 2011 when the all time high was traded at 4.6495. Following correction retraced 50% swiftly, afterwards the price action settled in a multi-year horizontal channel.

miroslava.micunkova's picture

Is EMEA too weak to face the Dollar destructive strength? USDTRL Elliott Wave Analysis

USDTRL has been moving in a major bull-channel since August 2008, separated by the periods of lengthy sideways corrections. The latest rally started back in February 2013 and peaked in January 2014 at 2.3890. The following correction is still under way today.

In mid September we published a blog suggesting further weakness of GBPUSD amid a major zigzag* correction. As the intervening wave B had not been clearly completed at the time, our initial estimated target area was 1.5700-1.5800. Please see the blog here.

miroslava.micunkova's picture

USD is predicted a bright future. Which rally did not run away yet? USDCHF Elliott Wave Analysis

For a past decade USDCHF has been moving in a major downtrend hitting an all-time traded low at .7071 in August 2011. Rally from there reached .9969 in July 2012 before the price action settled in a 2 years + sideways trading range.

Retracing close to 50% of the August 2011-July 2012 advance, a major correction was finished at .8701 in March 2014, setting up an initial leg up to .9738 in early November. A bearish “doji” candle signalled a weakness, leading to a setback that is still under way today.