Daniel_Kostecki

Daniel_Kostecki

In our previous analysis, we’ve mentioned the potential head and shoulders pattern which has been created on the German index DAX. It seems that the neckline in this pattern has been broken and the index has dropped to the lowest level since the third week of December 2020. Thus, the mild bearish scenario seems to be completed, but the more aggressive bearish...

Daniel_Kostecki

The EUR/USD exchange rate has been creating each movement according to the Elliott wave theory. Everything started in March when the dollar appreciation ended. Since then the euro has been strengthening and has created the potential Elliott wave structure known as an impulse wave which consists of 5 waves. It seems that the wave 5 has ended and currently the...

Daniel_Kostecki

The USD/CHF currency pair has been consolidating for a while and the market seems to be trying to create a potential right shoulder in an inverted head and shoulders pattern. The potential neckline is drawn through the recent tops at 0,8919. If it is broken we may assume that the USD/CHF could rise towards the key trendline drawn through the tops. However, if the...

Daniel_Kostecki

The price of bitcoin could end the possible correction which was equal to 31 percent from the record high. From the technical point of the price drawn a potential ABC pattern as a simple correction. Wave C was almost equal to the 100 percent of wave A which could be typical for ABC pattern. What is more at the possible end of wave C we could spot a larger volume...

Daniel_Kostecki

The lower limit, mentioned in our previous analysis, triangle pattern has been broken. After that, the price dropped sharply. The textbook target for the triangle breakout might be set by the height of the pattern and could be located at 25188 USD. However, we may find other potential support levels. Two of them could be set by the Fibonacci expansions. The first...

Daniel_Kostecki

The German index DAX has been forming a potential head and shoulders pattern with possible right shoulder forming right now. Looking at the chart we could spot the nearest potential resistance at 13985 USD. This is the area where the right shoulder may end. If it happens we could expect a downward movement. The first confirmation for the head and shoulders...

Daniel_Kostecki

The price of silver may have ended a potential correction and may start a new upward movement. From the technical point of view, the recent drop in price has consisted of five waves known from the Elliott wave theory. What is more, the fifth wave may also end the larger pattern labeled as ABC. This could be a huge running correction with wave C equals to wave A....

Daniel_Kostecki

The price of BTC has been creating a potential symmetrical triangle pattern. The lines drawn through the tops and bottoms are the nearest potential support and resistance areas. Currently, it seems that the price is between these lines so we could wait for a potential breakout. In theory, the potential targets could be located at 49000 USD or at 25188 USD...

Daniel_Kostecki

The key resistance line seems to be broken at the ETH/USD chart. We’re talking about the horizontal line at 1147 USD where the recent tops has been located. In our previous analysis we have described an inverted head and shoulders pattern. What is more, the market has also created a potential bullish harmonic pattern labeled as XABCD. The current upward movement,...

Daniel_Kostecki

The price of bitcoin, after the recent correction, seemed to create a short-term harmonic pattern. In theory, it is a bullish structure and it looks like a Gartley harmonic pattern. It is labeled as XABCD where waves ABCD could be also interpreted as a simple ABC correction. However, the key resistance at 36342 USD has to be broken to confirm the whole structure....

Daniel_Kostecki

The ETH/USD has plunged recently below 1000 USD. However, the bulls appeared on this market and even with huge volume and downward pressure they were able to lift the market. As a consequence, the price surged to the first potential resistance at 1147 USD and once again seems to be falling. From the technical point of view current downward movement may be...

Daniel_Kostecki

The USD has strengthened against the euro in recent days. As a consequence, the EUR/USD exchange rate dropped from 1,2340 to 1,2140. However, it seems that this could be only the beginning of a larger corrective movement. If the potential support at 1,2128 is broken the market may fall to the lower limit within the key trend channel. What is more, the next...

Daniel_Kostecki

The USD/PLN exchange rate has bounced back after the previous strong zloty appreciation. It seems that it has ended thanks to currency intervention by the central bank of Poland. However, it seems that also the market was oversold so the larger correction may appear soon. Currently, we may observe the first upward movement as the new impulse wave. After that the...

Daniel_Kostecki

The price of bitcoin has been surging for a few months so we have to look at the logarithmic price chart. As we can see the price has been creating an upward trend channel since 2014. The recent tops and bottoms end near the limits of the channel. Because recently the price also bounced from the line drawn through the bottoms, we may expect another rally to the...

Daniel_Kostecki

Looking at the chart of the euro futures contracts we may spot a possible Elliott Wave Pattern labeled as 1 to 5. It is a potential impulse wave that may soon come to an end. The theoretical resistance for wave 5 is set by 161,8 Fibonacci expansion of wave 1 placed at the end of wave 4. If this area is defended the market may retrace back as potential wave A in a...

Daniel_Kostecki

In our previous analysis about the gold market, we have mentioned a potential ABC simple corrective pattern that has been created within a downward channel. It seems that the C wave has ended at the lower limit within the channel so the first potential target for the bulls has been set at the line drawn through the tops. However, it has been broken today. It...

Daniel_Kostecki

The price of XRP was recently pumped and dumped. After a rise from 0,25 USD to almost 0,80 USD we observed a plunge back to 0,30 USD. What is interesting, the correction that has been observed in recent days consists of three waves labeled as ABC. So we could talk about a simple corrective movement with wave C that seems to be created thanks to the lawsuit against...

Daniel_Kostecki

In our previous analysis, we have mentioned that the price of gold may have finished the whole correction labeled as ABC. The C wave has ended at the lower limit within the main downward channel. Thus, the first potential resistance and the target for the bulls has been set by an upper limit of the mentioned channel. Recently the price of gold has reached it...