The US Dollar Index 4H chart view might be suggesting that 97.70 could be a meaningful top formed yesterday. Please note that the index could have unfolded into 5 waves from 97.70 levels, at a lower degree; and if it holds true, prices would ideally remain below 97.70 levels and push towards 95.70 levels going forward. Immediate price resistance could be seen at...
The 4H chart for EURUSD has been displayed here to have a lower degree wave count. As discussed yesterday, if the proposed ending diagonal count for (5) th wave holds to be true, prices should ideally stay above 1.1172 levels going forward. Please also note that a lower degree wave count (1H) might have unfolded into an impulse from 1.1216 levels. If this holds to...
EURJPY bounced nicely off its support at 127.49 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 129.80 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) is bounced off its support at 3.7% where a corresponding...
The $h chart view for Gold is suggesting that bulls might still remain in control, even though prices dropped as low as $1200 levels yesterday. Please note that the yellow metal is finding support around fibonacci 0.618 of the rally between $1182.00 through $1245.00 levels respectively. Furthermore, the counter trend support trend line is also seen to be passing...
The Dow Jones reversed sharply yesterday and was almost 600 points lower at close (25389 levels. This drop did not come as a surprise to us and was anticipated last Thursday. 08 November, when prices reversed from sub 26300 levels, followed by an evening star reversal pattern on Friday. Looking and the wave structure, we maintain our bearish outlook as last week...
The daily chart view for US Dollar Index has been presented here with alternate wave counts since 88.30 through 97.70 levels respectively. It could be possible that 3rd of 3rd wave was an extension and that brings us to a possible wave (3) termination at 97.00 levels. Wave (4) potential termination point was 93.80 followed by wave (5), which probably ended into an...
The EURUSD pair dropped below 1.1300 levels yesterday and print fresh lows around 1.1216 levels before recovering. The currency pair is seen to be trading around 1.1240 levels at this point in writing and needs to break above 1.1500 from here to regain the bullish momentum. Looking into the daily chart wave structure, we have considered an extended 3rd of 3rd wave...
The US Dollar Index is seen to be threatening to break above 97.20 levels at this point in writing. Please note that a break above 97.20 could trigger bullish potential to higher levels but we shall remain neutral in that case. Until prices stay below 97.20 levels, it is favored to drop lower towards 94.70 levels at least. Intermediary price resistance is seen at...
The EURUSD comes further close to 1.1300 levels for now and is seen to be trading around 1.1311 levels at this point in writing. Most traders would want to turn bearish but we still remain long until prices stay broadly above 1.1300 levels going forward. A break below 1.1300 levels could trigger a potential sell off but we would remain flat and would wait for...
Gold prices dropped lower than expected and formed fresh higher lows at $1206 levels on Friday. The structure from $1245 levels until now, looks to be corrective and could be retracing its earlier rally between $1182.5 through $1245 levels respectively. Please also note that prices could find support here, since it is a convergence point of fibonacci 0.618...
The Dow Jones closed lower on Friday, around 26000 levels, after carving a potential lower top around 26300 levels earlier. Please also note that, prices reversed lower forming an evening star ( bearish ) candlestick pattern between fibonacci 0.618 and 0.786 resistance levels. Looking into the medium term wave structure, it looks like a 5 down (impulse), followed...
EURJPY reversed off its resistance at 130.00 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it could potentially drop further to its support at 127.88 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support). Stochastic (89, 5, 3) reversed off its resistance at 99% where a corresponding...
XAUUSD is approaching its support at 1207.06 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1219.99 (38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (89, 5, 3) is approaching its support at 5.2% where a corresponding bounce could occur.
we are in a corrective cycle possible range then buy or a higher low then buy
The Dow Jones turned lower from around 26300 levels yesterday. It is too early to confirm a bearish reversal on the daily chart but potential remains for the same. At the same time, please also note that Wave C equals Wave A at 26500 levels, hence an upside through those levels cannot be ruled out. The wave structure is representing an impulse drop from 26950...
The EURUSD has reversed sharply from 1.1500 highs. Ideally, prices were expected to remain above 1.1350 levels to keep its medium term bullish structure intact but the markets as usual springs up surprises and alternate wave counts come into picture. At this moment in time, the EURUSD is seen to be trading around 1.1331 levels, and might threaten our proposed...
XAUUSD is approaching its support at 1220 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1226 (38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (89, 5, 3) is approaching its support at 5% where a corresponding bounce could occur.
EURUSD is approaching its support at 1.1358 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.1406 (38.2% Fibonacci retracement, horizontal pullback resistance). Stochastic (89, 5, 3) is approaching its support at 3% where a corresponding bounce could occur.