Ash_C

Ash_C Updated 

A while back, this pair completed a bearish harmonic after hitting my monthly resistance trendline. It came down to the support zone at the .382 fib and now we can see that GBPAUD has retested my monthly trendline, and once again rejected it. The last weekly candle closed very bearish, making a weekly double top. After the wick fills over the last two days it...

Ash_C Updated 

There was a lot of speculation that the dollar ( DXY ) would be weak. This past Tuesday, Trump couldn't reach any positive progress in the US - Sino trade talks, because Trump said that agreement on the “Phase 1” deal announced last month “could happen soon.” But he warned he was ready to raise tariffs on Chinese imports “very substantially” if that were to fail....

Ash_C Updated 

Gold has entered into a major weekly support zone. The last daily candle closed bullish and a higher daily price was made to confirm the bullish harmonic. I entered buy positions at 1556.00 with an initial stop loss at 1448.00. TP1: 1487.50 TP2: 1515.00 TP3: 1535.00 SL: 1448.00

Ash_C Updated 

With trade war tensions constantly looming and poor economic conditions in Australia, the RBA rate statement news could push AUD to retest the support zone at 73.30

Ash_C

After breaking through the short term resistance at 1510, as expected it came back down to turn the resistance into support. The hourly candle closed bullish after retesting the new support at 1510. In the coming week, I'm expecting gold to test 1600. Gold since April/May has had a very strong bullish momentum, taking advantage of the dollar's weakness. With...

Ash_C Updated 

The Euro has not been in good shape for some time now. A set of bearish harmonics has formed on both the daily and the four hour chart. After the down momentum started, it reached the 382 fib and just as expected, it rejected the 236 fib on the retest. Now the euro being very weak, we can expect to continue the downward momentum to the 618 fib and TP would be 1.6030

Ash_C

TP1: 108.30 TP2: 108.10 TP3: 107.20 With the expectations of a rate cut to the US dollar, a bearish harmonic, and a double top rejection at the 382 fib on a daily pattern, the momentum downward on UJ almost looks inevitable.

Ash_C

Before the move up, there may be a short down to use the .236 fib as support. Afterwards, the move up should complete a head and shoulders on the D point of a bullish butterfly harmonic. Take Profit 1 is between the 0.5 fib and the B point of the labeled harmonic. There is also the possibility of UJ going higher up eventually to retest the weekly resistance on...

Ash_C

A possible strengthening of DXY, a bullish bat harmonic, and the obvious double bottom suggests that there might be a possibility for a buy opportunity on USDJPY.

Ash_C

With JXY expected to get stronger and ZXY expected to get weaker at the same time, it makes perfect sense why this harmonic would be satisfied with a downward move to the take profit at 71.28(0.5 fib). Furthermore, there is a potential double top forming at 72.28.

Ash_C

This chart is being posted a week late but entries should have been placed on the retest down to $0.36 after it broke above the head and shoulders. The first target take profit is at the B point of the bullish bat pattern indicated on the chart which falls around $1.00.

Ash_C

With the rumors of PM Theresa May's resignation becoming a reality last week, the future of the pound is looking a little brighter. GPB/USD has reached a level of weekly support and should be retracing back up. My target is 1.2960.

Ash_C Updated 

After reaching my target this morning a 1266, gold should bounce back up in its range and test the upper bounds of that range. Take profit 1 is at 1288 and take profit 2 is at 1294.

Ash_C Updated 

Although, I believe that CADJPY will be gaining strength long term, I think that it should be retesting the region between 82.70 and 82.50 which falls on the 0.618 fib. Aftrerwards, you should expect to buy in at that same zone for a potential completion of a weekly head and shoulders going up. The zone would be the tip on the right shoulder.

Ash_C

Ethereum might have started to build strong upwards momentum. In the coming days and weeks, I expect it to reach the .236 fib and that would be the first take profit zone. It could potentially go even higher, so keep an eye out in the coming weeks.

Ash_C

With the Fed's potentially cutting rates and being more dovish with the rate hikes, DXY could fall sharply which would result in a gold rally. Target take profit is 1295.00

Ash_C Updated 

Take profit #1 falls at the .5 fib and take profit #2 falls on the .618

Ash_C

Gold retested a key level at 1280 last week and closed at 1298. It completed the pattern and should move back up above 1300 this week. I believe a strong momentum upwards should bring the price to the first take profit zone at 1320 which falls on the .618 fib. The second take profit is 1340, near the last high. If the strong upward momentum continues and the...