The EURUSD bulls struggle to hold gains repeatedly for now around the 1.1600 mark, but are still holding above 1.1432 levels, critical support. This price action is keeping the structure intact for now and we would still maintain medium term bullish stance until prices remain above 1.1432 levels. A probable wave count after Wave B termination at 1.1432 levels...
AUDCHF is approaching its support at 0.7029 (61.8% & 100% Fibonacci extension , 61.8% Fibonacci retracement , horizontal swing low support) where it could potentially bounce to its resistance at 0.7061 (38.2% Fibonacci retracement , horizontal pullback resistance). Stochastic (55, 5, 3) is approaching its support at 3.1% where a corresponding bounce could occur.
DAX is seen to have formed an interim resistance at 11800/50 levels at this point in writing, and till prices remain below that, one could expect 11300/50 levels soon. Please note that DAX had dropped below its intermediary trend line support earlier, and in the past two trading sessions have tested its past support around 11800/50 levels as well. The immediate...
Gold prices are producing a complex corrective wave structure, it seems. A short term wave count can be labelled as such: The rally between $1181.5 through $1232 levels, can be labelled as 1 (since it moved into 5 lower degree waves). The drop since then, looks to be corrective till now and cold be producing a 3-3-5, flat wave structure, which has been labelled as...
The US Dollar Index bulls threatened to push above 96.16 levels Friday, but failed and reversed from 96.09/10 levels dropping towards 95.60 levels around close. With US Dollar Index trading at 95.67 levels at this point in writing, we expect another push towards 95.50 levels, which would take out initial support on the hourly chart. Please note that the US Dollar...
XAUUSD is approaching its resistance at 1236.70 (61.80% & 100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 1214.68 (61.80% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support). Stochastic (55, 5, 3) is approaching its resistance at 95% where a...
Dow Jones story continues to unfold as discussed yesterday as the indice drops around 400 pints from 25800 levels. We again present the probable wave counts for hourly chart which could be suggesting that Dow is unfolding its lower degree wave v at this point in time. If the above counts hold true, we could see prices dropping lower towards 24500 levels at least....
The US Dollar Index popped up by a few points above the resistance zone 95.60/80, and touched 96.00 levels before pulling back. The story still remains constructive for bears, till prices stay below 96.16 levels going forward. Looking into the medium term wave counts, the US Dollar Index could be on its way towards 93.80 and lower levels as Wave C progresses. Also...
The price is rising on a solid 1D Channel Up (RSI = 57.372, Highs/Lows = 0.0025, B/BP = 0.0073) on limited overbought activity as AUDCHF aims for the 0.72414 - 0.72658 1D Resistance zone. That should be an ideal technical Higher High so we are long with TP = 0.72300. Be aware of the 1W Lower High trend line (blue dots).
Stoxx50 reversed off its resistance at 3281 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where it could potentially fall to its support at 3196 (horizontal swing low support). Ichimoku cloud shows signs of bearish pressure that contributes to our bearish bias.
A bullish signal on the AUD-CHF Daily chart, with the target in the area 0.7340/0.7375 and stop loss at 0.6955/0.6960. As often happens with this pattern, it's possible a pullback on the blue trendline.
The EURUSD pair printed 1.1620 level highs yesterday before pulling back sharply. The said currency pair has made intraday lows below 1.1550 today and is seen to be trading around 1.1555 levels at this point in writing. Looking into the short term wave counts, a lower degree impulse wave seems to have completed between 1.1432 and 1.1620 levels. It is being...
GBPNZD is testing its support at 1.9990 (100% Fibonacci extension , 50% Fibonacci retracement , horizontal overlap support) where it could potentially bounce to its resistance at 2.0193 (100% Fibonacci extension, 50% Fibonacci retracement and horizontal pullback resistance). Stochastic (55, 5, 3) is approaching its support at 5.8% where a corresponding bounce could occur.
EURCAD is approaching its support at 1.4943 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.5026 (50% Fibonacci retracement, horizontal pullback resistance). Stochastic (55, 5, 3) is approaching its support at 1.3% where a corresponding bounce could occur.
The EURUSD hourly chart is suggesting that a meaningful bottom could be in place at 1.1432 level last week and that the currency pair could be now progressing into Wave C higher. Looking at the medium term wave structure, EURUSD has remained in control of bulls since 1.1300 levels earlier. It seems to have completed Waves A and B and Wave C could proceed higher...
EURCAD is approaching its support at 1.5010 (50% & 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.5129 (horizontal swing high resistance). Stochastic (21, 5, 3) is approaching its support at 1.7% where a corresponding bounce could occur.
Fake breakout Now bullish momentum and 1:5 RR %
EURUSD is testing its resistance at 1.1622 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback resistance) where it could potentially reverse down to its support at 1.1556 (38.2% Fibonacci retracement, horizontal swing low support). Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.