Silver does not support the idea of expanding diagonal in wave c of (b) since it has already moved too far and there is no room for such a possibility. Thus, I simply adjusted the labels to factor in steep drop from last week as part of wave .
Preferred direction: SELL Comment: A busy week for the Japanese yen, which so far closes the USDJPY pair in the red zone at the end of the week. Earlier, we were just counting on a fall, trading ideas that were fully worked out in a plus. At the moment, the instrument is trying to re-test the level of 138.667 as part of the medium-term movement. The...
My take is that the price is moving within the scenario outlined a week ago. This week I watch the market to complete the structure before engaging in any trades or considering alternatives.
Gold Price Analysis: Testing Support Levels Amidst Consolidation and Breakout Attempts Technical analysis reveals a retracement in gold, testing key support zones and indicating a healthy consolidation phase before an expected continuation of the uptrend. Gold, FX Empire Gold Forecast Video for 19.06.23 by Bruce Powers Gold rises to a three-day high of 1,986...
TVC:DXY is popping again. Thought it was dead as many were calling. 2nd time, May was last time, we've called a pop while others stated it was going lower. Anyway, can the US #dollar REGAIN that MAJOR SUPPORT? = Blue line. The Greenback, historically, has come back from breaking major support BUT more often than not it doesn't do well afterwards. Red Arrows...
Today's news: NZD CPI q/q Is: 1.1% Expected: 0.9% Was: 1.2% GBP CPI y/y Is: 7.9% Expected: 8.2% Was: 8.7% USD Housing Starts Is: 1.43M Expected: 1.48M Was: 1.56M Another negative figure which encourages the FED to raise interest rates. Nevertheless; the U.S. dollar rebounded on Wednesday after inflation in the U.K. cooled more than economists had expected in...
Preferred direction: Neutral Comment: For this currency pair, the best option would be to stay aside from selling. Buying is allowed with minimal risk, as a small movement against sellers is expected in the near future. In addition, the price is close to the daily resistance 1.11861, so far it is too early to say that the buyer has consolidated above this...
Preferred direction: BUY Comment: The buyer retains the initiative and the previous trading idea for gold in force. We are considering longs, it is best to do this from next week. There is a possibility that at first the sellers will try to approach the level of 1938.915, which is unlikely to succeed, but there will probably still be movement in that...
Dollar index show rise in currencies like swiss franc. Every bull run in gold and silver has been linked with a rise in swiss franc since they used to have large gold holding. If dollar persists lower and sticky inflation and sticky rates, does that mean that the market is pricing in more debt and money printing? Is the break out in swiss franc marking a green...
GOLD completing signs of RE-accumulation, Currently in the Last Point of Supply. Now looking for signs of strength likely with in the next couple Weeks/Months ***Another Textbook Wyckoff Study case we've seen in a while.*** *** THIS IS A WEEKLY CHART *** Could take months to fully playout , PLEASE YOLO YOUR LIVE SAVINGS *at your own risk* - NOT FINANCIAL ADVICE
Just like with gold the chances are that we are in a rising wedge which is ending diagonal in wave c. Very speculative at this point though.
Given the low timeframe waves the chances are we are in a scenario with ABC flat where C is an ending diagonal
Since the end of February, and more accurately mid-March, the volatility on Natural Gas has all but disappeared. This is a good thing if you're bullish, because it's both consolidation and indicates accumulation. It's also a good thing from a sentiment/narrative perspective because everyone has all but forgotten trying to gamble on BOIL. Moreover, it's strange...
Preferred direction: BUY Comment: Gold reached the levels of stop losses of sellers and on impulse the price broke through the level of 1938.915, as we expected. On this, the buying potential has not ended and the medium-term target is located at the resistance of 1981.680. Thank you for like and share your views!
Preferred direction: Neutral Comment: The long-awaited level of 1.30000 has been reached and now most likely we should expect a stop from the buyers. A downward correction is also in question. It takes some time to watch the price. The formation of a balance is now most likely. Thank you for like and share your views!
In the previous week's update, I highlighted enough certainty to go long because of the ending diagonal (C) of in the chart below. We spent the entire week creating the opening move, which I've labelled wave A or (1) below. There is no preferred structure at this moment, and the complexity of the scenarios should remain on the chart. However, I can somewhat...
Long ago we mentioned that #FederalReserve had decision to make. They either chose the Economy or the Markets. They CANNOT do both. It's obvious, plus they keep repeating, with rate hikes where their mindset is. Media states that Wall St thinks that #interestrate will be cut. BUT Looking @ short term rates, they look primed to go...