Finacademy

Finacademy Mar 18, 2021

US Dollar Index managed to drop towards 91.30 yesterday, before finding support again. A potential bottom might be in place or Wave C might still be in progress towards 91.00 and 90.60 levels, before terminating. Either way, the US Dollar Index remain in control of bulls as they are targeting towards 94.50 and higher over the next few weeks. The uptrend will...

Finacademy Mar 18, 2021

Gold managed to rally through $1756 today, in-line with wave counts, before reversing lower again. Also note that the yellow metal hit convergences of trend line resistance , fibonacci 0.382 retracement of the drop between $1876 and $1676 levels respectively. This could be marked as potential Wave 4 termination and if correct, the metal is heading lower towards...

Finacademy Mar 18, 2021

EURUSD seems to have resumed its lower degree wave c rally towards 1.2050/80 mark. Yesterday's post FOMC rally has been in line with expectation and should reach up to 1.2050 at least, before resuming lower again. Please note this is still counter trend and EURUSD is might be just another lower high away from resuming its proposed downtrend towards 1.1600 levels...

Finacademy Mar 17, 2021

Gold might not have produced the required corrective drop towards $1715 levels yesterday but the yellow metal remains poised to push through $1775/80 levels before reversing lower again. It is carving a potential Wave 4 since printing $1965 highs earlier, before turning lower again as Wave 5 progresses. Potential remains for a push through $1800 levels as well,...

Finacademy Mar 17, 2021

EURUSD trades just above 1.1900 mark as we prepare to publish. It had dropped to 1.1882 lows yesterday, carving Wave B of the proposed A-B-C corrective rally towards 1.2050/80 levels. Structurally, EURUSD might be unfolding Wave 3 lower towards 1.1600 in the next several weeks. Bulls might be inclined to unfold a corrective wave (ii) within Wave 3 towards 1.2080...

Finacademy Mar 17, 2021

US Dollar Index might drop towards 91.00 levels in the next 1-2 days before resuming higher again. The structure still remains constructive for bulls a the expected drop would just complete a corrective wave (ii), within Wave 3 rally towards 94.50 levels. The existing wave structure from 89.20 lows might be indicating that Wave 1 and 2 might have terminated around...

Finacademy Mar 16, 2021

US Dollar Index might be preparing to drop towards 91.00 levels before resuming its rally. The index remained in control of bulls since 89.20 lows and managed to carve Wave 1 and 2 higher towards 91.00 and 89.70 levels respectively. If the above holds well, Wave 3 seems to be underway towards 93.00 and 94.50 respectively. A Gartley might be underway towards 91.00...

Finacademy Mar 16, 2021

EURUSD has drifted sideways since last 36 hours but potential remains for a push through 1.2050 at least, before finding resistance again. The currency seems to have either completed its corrective rally at 1.1988 last week or has terminated Wave A of its corrective rally. If the latter turns out to be correct, EURO bulls might extend its rally towards 1.2050/80...

Finacademy Mar 16, 2021

Gold might drop to $1713/15 before pushing higher towards $1775/80 levels. The yellow metal remains poised to rally towards $1775 at least before reversing lower again. The wave structure remains bearish until $1965 holds as Gold might be carving potential Wave 4 since $1676 lows. Trend line resistance is now seen to be passing through $1765, which is close to...

Finacademy Mar 15, 2021

Gold might be preparing to rally through $1770/80 levels before resuming lower again. Intraday support is seen towards $1715 and a bullish bounce there would encourage further push towards $1770, going forward. Alternately, the yellow metal might drift sideways unfolding as a triangle, before terminating Wave 4. Either way, the metal remains a sell on rallies case...

Finacademy Mar 15, 2021

US Dollar Index had bounced off the fibonacci 0.618 retracement of lower degree wave i around 91.35 levels. Still, probabilities remain for another drop towards 91.00 mark, before the index rallies further towards 93.00 and 94.50 levels respectively. Preferred wave counts are presented on chart here but alternate counts remain possible as a triangle or an expanded...

Finacademy Mar 15, 2021

EURUSD counter trend rally might extend through 1.2050/80 before terminating wave ii. Intraday support is seen towards 1.1900 handle and a bullish bounce there would confirm that EURO bulls are poised to push towards 1.2050 mark at least. The wave structure still favors a potential Wave 1 and 2 in place and Wave 3 lower might be in progress towards 1.1600 mark....

Finacademy Mar 12, 2021

EURUSD had rallied through 1.1988 highs overnight before turning lower again. The currency remained shy of hitting 1.2005 mark, the fibonacci 0.618 retracement of the recent drop between 1.2113 and 1.1835 levels respectively. Probabilities remain for a test of 1.2000 handle before reversing lower towards 1.1700 and 1.1600 levels respectively. Also note that EURUSD...

Finacademy Mar 12, 2021

US Dollar Index had dropped through 91.35 levels yesterday, before bouncing back higher again. It seems to have found support at fibonacci 0.618 retracement of its recent rally between 90.62 and 92.50 levels respectively. A push above 91.90 would confirm that a meaningful bottom is in place and carved a lower degree wave ii within Wave (iii). The counts are...

Finacademy Mar 11, 2021

EURUSD has managed to produce a counter trend rally towards 1.1968 today, exceeding by about 20 pips. Also note that the past support zone around 1.1950 would provide resistance here. Furthermore, the currency faces trend line and fibonacci 0.50 levels as potential resistance around 1.1960 mark. A potential Wave iv might have terminated today and if correct,...

Finacademy Mar 11, 2021

US Dollar Index has managed to correct lower as expected but has reached the fibonacci 0.50 around 91.50/55. A bullish turn here could still resume its uptrend and push higher towards 92.50 and 93.50 over the next few trading sessions. Structurally, US Dollar Index seems to be unfolding Wave 3 higher towards 94.50 and 95.50 since printing lows at 89.70 earlier....

Finacademy Mar 11, 2021

Gold has rallied through $1740 mark today, extremely close to the projected $1750/53 mark. Possibility remains for a push through $1750/53 before reversing lower again. The yellow metal is carving Wave 4 it seems, and is expected to resume lower towards $1650 and $1550 levels going forward. It remains to be seen if the metal resumes lower from here or from...

Finacademy Mar 9, 2021

Gold wave structure from $1965 reveals Wave 1, 2 and 3 potential termination around $1802, $1876 and $1676 respectively. If correct, the metal is towards Wave 4 termination around $1750/55, the fibonacci 0.382 retracement of Wave 3 as presented here. The yellow metal might resume lower from there towards $1550 and further. Only a break above $1876 could change the...