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YOU IGNORED US NOW FACE THE CONSEQUENCES we witnessed the equity market correction in previous months where analysts were fearful of coming next financial crisis as we saw in 2008 or even bigger than that but our study suggests that despite the equity market correction investors and long-term traders aren't interested in the precious metal sector because they aren't afraid of a bear equity market. The non- fear factor can be seen in the financial market stress index published by the St Louis Federal Reserve and the CBOE Volatility Index ($VIX), also known as the fear gauge-as of now we are seeing the USD Dollar index has jumped to its highest level since June 2017 which is making immense pressure on both gold and silver and our short-term analysis suggest that once yellow metal will broke below $1190 level(our take profit) more selling pressure will start from this point-we as a gold and silver analyst are focusing more on the U.S. dollar, positioning analysis and global macro data these are the factors that could affect gold and silver prices in the long term-some other important factors which are making pressure on P.Ms are WTI crude oil significant decline along with weak CNY and rising yields- Please note-Russia and Saudi are about to cut their oil export and we believe at this moment of time investors should monitor any outcoming global macro data very carefully Our previous comment 1-we believe after the US mid-term election when the dust will be settled, the recent news events and relatively strong earning data will push the US stock market and economy to upside in a significant manner 2-If US-CHINA Trade war will be eased through the losing the policy by trump in the near future, we expect the equity market to surge 5-10% over a few weeks or even in few days on that news alone, hence a significant downfall in the precious metals sector. 3-we strongly believe experienced money managers and strategic professional trader should tight their seat belts and should start taking trades in gold 0.18% -0.31% and silver -0.21% 0.00% as we are expecting a sharp move as the price could move in a very aggressive manner soon-However we are very bearish for the mid and long-term in the precious metals sector.
FX:XAUUSDShort
by GoldSilverAnalyst
2
LET'S MAKE IT VERY SIMPLESometimes it feels like this consolidation period in gold and silver is not going to over for months but trust me we have seen this kind of range bound movement in precious metal sector numerous times and then we witness an explosive breakout or breakdown in both of the precious metals? but there is no denying that we are in the middle of the boring times but we are expecting it to end very soon but the question is will this time we'll see an explosive breakout or breakdown in PMs? However, Every analyst have their own idea about the same market while most of the analyst are either neutral or significantly bullish for the current market condition in precious metals sector but for us market is saying only one thing- Don’t get tricked by a false move we witnessed gold to drop below $1214 level on Oct 31 which we believe was caused by the fund selling to take some profits for client statement purposes to recover some losses in the stock market- Gold price tested 1227.00 level without managing to break it, waiting to surpass this level to reinforce the expectations of continuing the decline towards our main waited target at 1208.40, to keep our bearish trend scenario valid for today USDX has also formed inverse head and shoulder pattern about which we informed you already-The breakout is already confirmed by numbers of daily closing candles and there are numerous sign pinpointing to the upcoming US dollar rally which is negatively correlated to the PMs sector but what's interesting is even the good economic numbers on Friday which helped to strengthen the dollar, didn't push gold and silver prices above,The market is likely to quiet ahead of the U.S midterm election and people are waiting to see how it's going to play out after tomorrow however opinion polls show strong chances that the democratic may win this midterm election by which we can expect a pressure in dollar and a slight move higher PM sector However we believe once this matter of election between Democrats and Republican will over this inverse correlation be back to normal which will help drive gold and silver prices to fall in a significant manner- patience will reward us please note- Hedge funds and money managers raised their net short position in gold to a three-week high in the week ended Oct. 30, according to U.S. Commodity Futures Trading Commission data.
FX:XAUUSDShort
by GoldSilverAnalyst
USDX approaching resistance, potential drop! USDX is approaching our first resistance at 96.14 (horizontal swing high resistance, 61.8% Fibonacci extension, 76.4% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our first support at 95.06 (horizontal swing low support, 50% Fibonacci retracement, 100% Fibonacci extension). Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
TVC:DXYShort
by FlowState
US Dollar Index could terminate at 95.50/96.00 levels.The US Dollar Index was seen accelerating into its final corrective leg, within the expanded flat and has made an interim high close to 95.40 levels on Friday. Looking into the wave structure, the index could find resistance around 95.50 or it could push through 96.00 levels before resuming lower again. The expanded flat structure could be a traders nightmare if not identified at the right time. We have now changed our trading strategy from neutral to short, until prices remain below 97.00 levels going further. Please note that the medium term wave structure remains unchanged and the US Dollar Index could drop towards 91.50 levels, going forward. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXY
by FXTM
2
US Dollar Index clears line of resistanceThe US Dollar Index has broken above its line of immediate resistance depicted on hourly chart here. The index is seen to be trading around 94.50 levels at this point in writing and could be targeting 94.80/95.00 resistance zone immediately. Structurally, the US Dollar Index could be well under its way to carve an expanded flat a-b-c (not highlighted here), eventually forming Wave B of a larger degree. If the above count holds well, we could see Wave B termination point towards 95.70 or 96.00 levels going forward. Please note that the medium term structure still remains bearish , but a short term rally could complete Wave B. We remain neutral for now. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXY
by FXTM
USDX approaching resistance, potential drop!USDX is approaching our first resistance at 94.37 (horizontal overlap resistance, 50% Fibonacci retracement, 100% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 94.00 (horizontal swing low support, 76.4% Fibonacci retracement). Stochastic (55,5,3) is approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYShort
by Tickmill
US Dollar Index could produce a surprise rally towards 95.70 ?The US Dollar Index has tested lows at 93.80 twice now without much success and is back higher, trading around 94.30/40 levels at this point in writing. Please note that a short term resistance line is passing just through the price and a break here could push the index higher towards initial resistance at 94.80 levels. Looking at the wave structure, medium term bearish outlook still remain intact, but the US Dollar Index could produce a rally towards 95.50/96.00 levels before reversing lower again. We have changed our stand from bearish to neutral for now and would be looking for intraday rallies through 95.50 levels at least, to initiate probable shorts. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXY
by FXTM
1
US Dollar Index at potential support around 93.70/94.00 ?The US Dollar Index broke lower from its consolidation, dropping to fresh lows at 93.83 levels. Please be aware of a potential bear trap around 93.70 and 94.00 levels since the entire region is fibonacci 0.382 support of the previous rally between 88.00 through 97.00 levels respectively. Looking at the wave structure, it could still remain probable for the index to carve out an expanded flat as wave B. If the count holds, we would not be surprised to witness a rally towards 95.50/96.00 levels going forward. At the moment, we are changing our stand from bearish to neutral. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXY
by FXTM
US Dollar Index Wave B as Expanded Flat ?The US Dollar Index is also consolidating within the rectangle region highlighted on chart here. Looking at the wave structure, Wave B could be still unfolding as an expanded flat a-b-c, before Wave C decline could resume. If this count holds true, we could witness a sharp rally towards 95.70 or probably 96.00 levels as Wave B termination point. Also note that a break above 95.00 levels would instill further confidence for the above count. As an alternate though, a break below 94.00/20 consistently, would be further bearish for the US Dollar Index. Overall bearish structure remains intact towards potential 91.50 and 92.00 levels going forward. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXYShort
by FXTM
US Dollar Index could test 95.70 levels again ?The US Dollar Index short term picture could still remain encouraging to bulls if prices stay above 94.40 levels. The index is probably carving an expanded flat corrective wave structure as potential Wave B. If this structure holds well, we could see prices rally back towards 95.70 levels at least or even push through 96.00 mark. The rally on Friday from 94.38 lows through 95.00 could retrace lower before resuming again. Overall the medium term wave structure (several weeks), could remain bearish towards 92.00 and 91.50 levels respectively. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXYShort
by FXTM
USDX approaching resistance, potential drop! USDX is approaching our first resistance at 94.91 (horizontal overlap resistance, 23.6% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 94.40 (horizontal swing low support, 78.6% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYShort
by Tickmill
3
US Dollar Index potential top could be at 96.00 ?The US Dollar Index hourly chart is suggesting that the index might still be unfolding Wave B (potential remains to either test 95.70 levels or print higher towards 96.00), before resuming its journey lower again. The corrective wave seems to be taking mire time to carve a potential top for Wave B termination and it might be unfolding into a zigzag . Overall, the structure is looking bearish and it is just a matter of time when wave C could resume lower; from 95.70 or 96.00 levels again. Please note that 94.80 remains the line in sand for bulls to stay in control for now. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXYShort
by FXTM
US Dollar Index remains vulnerable around 95.70/96.00 levelsThe US Dollar Index 0.02% hourly story is suggesting that the recent rally on Friday may push it higher towards 96.00 levels before finding strong resistance again. There is no certainty of the above though, but a possibility cannot be ruled out. Please note that fibonacci 0.618 resistance is also seen at 96.00 levels and we can expect a bearish reaction if prices manage to reach there. Overall, the US Dollar Index 0.02% remains a chart to be probably sold upon intraday rallies through 95.0/96.00 levels. Yet another round of sell off could be on its way towards 92.00 levels. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXYShort
by FXTM
Dow Still Need To Break 25600 Levels To Confirm A Potential TopWe are bringing the daily chart view after a long time for Dow Jones. Still, the indice is holding its potential A-B-C flat wave structure discussed earlier and prices have also managed to reverse from near about 26200 levels as seen here. A potential evening star candlestick bearish pattern seems to have appeared, indicating a potential reversal, though prices still need to break below 25600 levels (immediate support on the daily chart view), before we could confirm the above scenario. We shall be watching the wave structure for the next couple trading sessions and how the price action confirms. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
DJ:DJIShort
by FXTM
3
EURUSD bounces sharply past 1.1650 levels. Wave C begins?The EURUSD hourly chart suggests, that a meaningful low could be in place at 1.1530 levels and that a probable direction from here could be on the north side. Please note that the confluence of a previous wave 4 and a nearly 50% retracement at 1.1530 remains a valid point to assume that Wave B could be in place. If the above wave count and structure holds, we could witness higher highs from here. As an alternate count, please be prepared for a potential drop towards 1.1450/70 levels before Wave C picks up. We shall bring up this scenario again if price patterns support. Overall EURUSD remains a candidate to remain long. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
Long
by FXTM
GBPJPY Testing Resistance, Prepare For ReversalGBPJPY is testing its resistance where we could potentially to see a reversal. GBPJPY is testing its resistance at 145.61 (61.8%, 100% Fibonacci extension, 38.2% & 76.4% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 142.08 (61.8% Fibonacci extension, horizontal overlap support) could occur. Stochastic (55, 5, 3) has reversed off its resistance at 97% where a corresponding drop could occur.
Short
by ICmarkets
US Dollar Index short term view of Wave A.The US Dollar Index bounced off well from the initial support at 94.90/95.00 levels discussed yesterday. It is seen to trading around 95.40 levels at this point of writing and could push intraday towards 95.60/65 levels, before reversing lower again. The hourly chart could be suggesting that wave A of a larger degree is still unfolding and there could be yet another low towards 94.20 levels, which was termination of previous wave (4) as highlighted here. Also note that wave A might be unfolding into an impulse suggesting a deeper correction possible in the US Dollar Index later. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXYShort
by FXTM
EURUSD 1H chart confirming Wave A progress..?As the story unfolds, the EURUSD currency pair retraced lower from initial resistance at 1.1620/25 as discussed earlier. The 1H chart view is still suggesting that EURUSD bulls may still have some steam left and prices could push higher through 1.1740/50 levels, which is the termination of previous wave (4). The current short term correction could terminate around 1.1520/30 levels, before the pair could resume its last leg rally. Please note that wave A of the potential A-B-C correction discussed earlier, might be unfolding as an impulse. If this structure holds well, we could witness a corrective wave B followed by yet another impulse wave C in the coming days/weeks. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
Long
by FXTM