To continue the story from yesterday, Dow Jones Industrial Average dropped lower as a probability discussed, towards 24530 levels. Looking into the wave structure now, a potential impulse wave labelled as waves i through v, seems to be complete. Please note that the underlying instrument has unfolded its last wave into an ending diagonal . A push above 25307 from...
NZDJPY is approaching its support at 72.40 (61.8% Fibonacci extension, 78.6% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 74.22 (61.8% Fibonacci retracement, horizontal swing high resistance). Stochastic (89, 5, 3) is approaching its support at 2.3% where a corresponding bounce could occur.
NZDUSD is testing its support at 0.6491 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.6541 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (89, 5, 3) is approaching its support at 2.1% where a corresponding bounce could occur.
Based on 1hr/4rh exhaustion. Don't have time to draw all the trend line in now. But it looks like a good drop coming in. This could have been a retest of the high to continue the long term down trend , maybe a 0.5% to 1% decline on the cards. But put a stop above high so its a trade you wont lose much on. We can always reenter later on.
XAUUSD is testing its resistance at 1236.82 (61.80% & 100% Fibonacci extension , 38.2% Fibonacci retracement , horizontal overlap resistance) where it could potentially reverse down to its support at 1215.95 (61.80% Fibonacci extension , 38.2% Fibonacci retracement , horizontal overlap support). Stochastic (55, 5, 3) is approaching its resistance at 95% and there...
NZDJPY bounced nicely off its support at 72.76 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 73.35 (100% Fibonacci extension , 38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (89, 5, 3) is bounced off its support at 4.4% and there may be bullish...
AUDCAD is approaching our first resistance at 0.9224 (horizontal pullback resistance, 23.6% Fibonacci retracement, 100% fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 0.91667 (horizontal swing low support, 76.4% Fibonacci retracement, 100% Fibonacci extension). Ichimoku cloud is also showing signs of...
AUDCAD is approaching our first support at 0.9277 (horizontal swing low support, 61.8% Fibonacci retracement, 100% Fibonacci extension, short term ascending channel) where a strong bounce might occur above this level pushing price up to our major resistance at 0.9352 (horizontal swing high resistance, 61.8% Fibonacci extension). RSI (55) is approaching support...
The US Dollar Index uptrend channel has broken out testing low at 12096 levels and continue up to 12262 levels before pulling back to 12169 levels. The long-term still remains constructive for bull, till price stay below 12096 levels going forward. Looking into the medium-term correction wave, the US Dollar Index could be on its way towards 12096 levels as Wave C...
GBPUSD is approaching its support at 1.3004 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.3085 (38.2% Fibonacci retracement, horizontal pullback resistance). Stochastic (55, 5, 3) is approaching its support at 2.2% where a corresponding bounce could occur.
Fakey (Hikkake) pattern with Bearish engulfing inside bar. Usually, such patterns exhibit a rapid move once mother candle is broken in the opposite direction.
We are presenting a short term (hourly chart) wave counts today, after having seen the daily charts earlier. Please note that Dow has broken below its immediate line of support on the hourly view, and it has also taken out initial support at 25000 levels before pulling back. The indice is seen to be trading around 25700 levels at this point in time and is expected...
The Tidal Shift Strategy has just sold EURCHF at 1.14436. The system recommends entering this trade at any price between 1.14314 and 1.14559. The signal was issued because our Speculative Sentiment Index has hit its most extreme positive level for the past 145 trading hours at 1.18832, which suggests that the EURCHF could be trending downwards.The 14-period...
The short term story continues to unfold as projected earlier. The US Dollar Index is seen to have reached its resistance zone around 95.60/80 levels at this point in writing. Please note, that this level could be the termination point of a lower degree wave ii (not plotted here), and a bearish resumption remains high probability from 95.60/80. Also note that the...
USDCHF is testing resistance at 0.9955 (78.6% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse to its support at 0.9862 (100% Fibonacci extension, 23.6% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 98.6% where a corresponding reversal could occur.
The Breakout Opportunities system has just bought USDCHF at 0.99006. The system recommends entering this trade at any price between 0.98901 and 0.9913. The signal was issued because the USDCHF has broken its 24-hour high while our Speculative Sentiment Index was at -1.23466, suggesting that the USDCHF may have further to rise. A stop loss has been set at the...
The US Dollar Index has made intraday highs at 95.26 levels and is seen to be trading around 95.19 levels at this point in writing. Looking into the medium term wave structure, the US Dollar Index seems on its way to accelerate Wave C lower towards 93.80 levels at least. Please also note that interim resistance should remain intact at 96.16 levels for the above...