The US Dollar Index had print highs at 97.28 levels before pulling back and is now seen to be trading around 97.13 levels. Looking at the lower degree wave counts, the US Dollar seems to have waves i and ii in place at 96.00 and 97.28 levels respectively. Please note that wave ii terminated at the fibonacci 0.618 resistance level of wave i and if this holds, we...
AUDNZD is approaching its resistance at 1.0703 (100% Fibonacci extension, 61.8%, 23.6% & 32.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 1.0652 (horizontal swing low support). Stochastic (89, 5, 3) is approaching its resistance at 93% where a corresponding reversal could occur.
Gold is seen to e trading around $1227 levels at this point in writing and could probably continue pushing higher from current price or drop towards $1212, before resuming rally. Looking at the short term wave structure, waves i and ii might be in place or wave ii could terminate around 1212 levels as labelled here. If the above structure holds to be true, we...
AUDJPY is approaching its resistance at 82.24 (61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 81.48 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support). Stochastic (21, 5, 3) is approaching its resistance at 94% where a corresponding reversal could occur.
CADJPY is approaching its resistance at 85.68 (61.8% Fibonacci extension, 61.8% & 23.6% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 85.32 (61.8% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
USDJPY is approaching its resistance at 113.25 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 112.87 (61.8% Fibonacci retracement, horizontal overlap support). Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
EURCHF is approaching our first resistance at 1.1360 (38.2% Fibonacci retracement, 61.8%, 100% Fibonacci extension, horizontal overlap resistance) where a strong drop might occur pushing price down to our major support at 1.1332 (horizontal swing low support, 100% Fibonacci extension, 50% Fibonacci retracement). Stochastic (55,5,3) is also approaching resistance...
CADJPY reversed off its resistance at 85.50 (100% Fibonacci extension, 50% & 38.2% Fibonacci retracement, horizontal overlap resistance) where it could potentially drop further to its support at 84.99 (61.8% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) reversed off its resistance at 97% where a corresponding drop could occur.
The counter trend rally that began from $1160 levels in Gold is probably progressing in Wave C since forming lows at $1195/96 levels. On the 4H chart presented today, we have changed the counts to fit the most probable outcome, most like a combination could be in the making. Initial 3 wave rally seems to be a probable zigzag between $1160 and $1245, labelled as A....
We have presented an alternate scenario for Dow Jones on the daily chart here. The medium term bearish outlook remains intact for now but the indice could surprise many a traders by producing a 3-3-5 flat corrective wave structure, which could re-test 26300 levels. Please note that the above count is a probability and should not be taken as opportunity to build...
The daily chart for US Dollar Index has been presented here with most probable wave counts, and also to have a re-look at the bigger picture. Please note that the US Dollar Index had produced an impulse rally between 88.30 through 97.00 levels respectively as labelled here. The subsequent drop towards 93.80 levels is seen to have unfolded into 3 waves hence could...
The Tidal Shift Strategy has just sold EURCHF at 1.1306. The system recommends entering this trade at any price between 1.1293 and 1.1319. The signal was issued because our Speculative Sentiment Index has hit its most extreme positive level for the past 145 trading hours at 1.34469, which suggests that the EURCHF could be trending downwards.The 14-period Average...
EURCHF is approaching its support at 1.1357 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.1394 (50% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) is approaching its support at 4.7% where a corresponding bounce could occur.
PRZ lies on a Support/Resistance zone that has be respected multiple times in the past. PA started the week with a little jump into the opposite direction, but its coming up as I type... Numbers look like this: Entry: 1.14408 SL: 1.1475 TP1: 1.13994 (.386AD 1.21 RR) TP2: 1.13738 (.618AD 1.96 RR) Good Luck!
Hi there. Price is forming a continuation pattern to the downside. Wait for the price to form a continuation pattern on a lower time frame and watch strong price action for sell.
GBPUSD bounced nicely off its support at 1.2705 (100% Fibonacci extension, horizontal swing low support) where it could potentially bounce to its resistance at 1.2839 (38.2% Fibonacci retracement, horizontal pullback resistance). Stochastic (55, 5, 3) is bounced off its support at 2.7% where a corresponding rise could occur.
The Trend Follower Strategy has just bought EURCHF at 1.13739. The system recommends entering this trade at any price between 1.13639 and 1.13838. The signal was issued because our Speculative Sentiment Index is extremely positive, with a value of -1.53813. This suggests that the EURCHF could be trending upwards.The 14-period Average True Range on a daily chart is...
The 4H chart for Dow Jones seems to have completed its first leg down (wave 1), within wave(3), that began from around 26300 levels earlier. The indice has already dropped more than 1000 points since last week and could be producing a pullback rally, before resuming its drop. Looking at the wave structure again, the Dow Jones had dropped lower, unfolding into 5...