Usdchf is looking to hit the extensionlevels -27 and mayby more. The rejection of the 618 gave a major selloff this pair. It smashed right trough the .90000 level. Considering this violent break of a key support shows us that the bears are in control.
XRP tested the 0.1750 zone multiple times with some spikes and is now building in a parallel channel to hit the 0.2250. after that level, we will see if it will break or bounce.
We see a classic ABCDE formation where the price is rejected by the resistance. In the upcoming days we can expect more bearish bias.
with a bullish bias of GA & EA in mind, we can expect some weakness in the Aussie. price is having some difficulties to break the 0.63400 level which is the 618 of the Fibonacci. in the next 24 hours we could expect more bearish AUD.
a parallel descending channel is going to the direction of 1.95 which is support for this pair. we will watch tomorrow how it will react.
we are watching Euro Australian dollar moving sideways and building support. however, we know from the past that a wick kan test the levels below 1.70. In my opinion, we can have some nice longs in the upcoming days. but first, I want to see how it will react when it touches the 1.70 zone again.
we see a classic fib rejection and an inverted shoulder - head - shoulder. we will watch when the price reaches the first resistance 23275
with a Major rejection at the 786 level of the fib, we saw a nice bearish movement to the first -27 level. we have some room of 100 pips to hit the $20.00 region which aligns with the -618 level. from that level, we can expect some sideways movement and a bullish push. especially now when Trump made a deal with the OPEC for a production cut, and China who is...
at this moment of writing, gold is made to the 3rd extension level of the Fibonacci. after a small retracement, I expect to hit the 1555 level in the upcoming hours.
with a completed wave and a rejection at the 618 level, we expect that the price can make new higher highs. especially with the fact in mind that Russia started the conversation with the Saudis to stop the price war in the OIL. on the other hand, China recovering from the Covid-19. this can be a double impulse for a bullish oil.
pound- Yen has a rejection of the fib level 786 and we expect a natural retracement to hit the -27 level of this ABCD trade. Our tp area is in the 137.000 zones. it is a range of 230 pips. we will monitor this trade. used RR: 1:5
the us30 had a messy week with 4000 points of drop. a few minutes ago the WHO announced their Corona-virus plan and Wallstreet was not amused. we see that the earnings of yesterday almost have vanished. despite the news, we see that the POC (most trades price level) is rising. it is still early, but with a cut in the payroll taxes of trump can push the us30 in a...
We highlighted this zone earlier this week. the price will probably bounce from this level. we will watch the $42 level closely.
gold is currently of writing in a triangle and rejected the 786 level of the fib. the bulls pushing this metal to break it and hit the extension level we will watch this metal closely
The first targetpoint hit with a nice bearish candle
dax is gaining power after the last horror week. we see a rejection of the fib level the forming of a pinbar. also, we see a clear rejection at the green highlighted area which is an important neckline. that level has multiple support and resistance zones. price has the potential to develop upside in the upcoming 3 days.
USDCHF is at the 0.95 support level and is currently holding it. the candles touched the descending trendline and made a small pullback. the expectation is that die positive US numbers will push the dollar up. we can see an upside movement till the 0.98 zones.
eurnzd rejected at an important level (1.78) and is almost ended with a nice bearish candle. with a recovering AJ/AU, we can expect a bearish euraud and eurnzd. the reversal of the US30 shows us the sign that the market is reversing from the last horrifying week.