Korora

Korora Updated 

The chart above shows a probable end to the a-b-c zigzag correction and price showing some signs of bullish continuation. A dip below 110.82 and 110.20 will lead to more bearish move. A break above 111.7 should be enough to confirm the expected bullish resumption. If price rallies above 111.7 and eventually above 114.5, we can then say we have successfully picked...

Korora Updated 

Australian Dollar Falls No Further On Weaker Leading Indicator Talking Points: 1. Westpac’s Australian leading index weakened in May 2. However, the Aussie Dollar had already been knocked by Moody’s shock China downgrade 3. Bears didn’t ask for any more The Australian Dollar was steady Wednesday despite the release of a key leading indicator...

Korora Updated 

Recently, Gold has been trading upwards. As I expected, the price tested the level of $1,263.75. Anyway, according to the 30M time frame, I found a fake breakout of yesterday's high at the price of $1,262.60, which is a sign that buying today seems risky. There is also a hidden bearish divergence on the moving average oscillator, which is another sign of weakness....

Korora Updated 

EUR/JPY is approaching the major resistance at 125.55 (Fibonacci extension, Elliott wave theory, swing high resistance, bearish divergence) and we expect the price to reverse from that level to at least 124.72 support (Fibonacci retracement, horizontal swing low support). Stochastic (34,5,3) is seeing the major resistance below the 91% level from where we expect...

Korora Updated 

The NZD/USD pair continues to move upwards from the level of 0.6942. Yesterday, the pair rose from the level of 0.6942 (the level of 0.9866 coincides with a ratio of 50% Fibonacci retracement) to a top around 0.7000. Today, the first support level is seen at 0.6942 followed by 0.6913, while daily resistance 1 is seen at 0.7037. According to the previous events,...

Korora Updated 

GBP/USD bulls lost momentum after reaching the resistance zone of 1.3038 and it seems that a consolidation is in place with a possibility to re-test the 200 SMA on H1 chart. However, the overall picture remains modestly bullish, despite the fact there are no new bullish patterns' formations across the board. MACD indicator is turning to the negative territory,...

Korora Updated 

EURUSD has been in non-volatile bullish trend after bouncing off from 1.0850. Today, this pair has shown a good amount of bullish pressure as the Eurogroup's meeting is taking place today among 19 member states of the eurozone. The meeting will co-ordinate their initiatives and decisions for the overall economic health in the eurozone. Currently, the meeting is...

Korora

EURUSD has been in non-volatile bullish trend after bouncing off from 1.0850. Today, this pair has shown a good amount of bullish pressure as the Eurogroup's meeting is taking place today among 19 member states of the eurozone. The meeting will co-ordinate their initiatives and decisions for the overall economic health in the eurozone. Currently, the meeting is...

Korora Updated 

TVC:DXY Price has dropped and reached our profit target perfectly. We prepare to buy above 1.3503 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support, Elliott wave theory) for a push up to 1.3641 resistance (Fibonacci retracement, horizontal overlap resistance). RSI (34) sees strong horizontal support above our 36% level.

Korora Updated 

Price is about to find major resistance below the 83.09 resistance (Fibonacci retracement, horizontal overlap resistance, Elliott wave theory) and we expect a strong drop from this level towards 81.77 support (Fibonacci extension, horizontal swing low support, Elliott wave theory).Stochastic (21,5,3) is seeing major resistance below the 93% where we expect price...

Korora Updated 

Overview: The GBP/USD pair faced strong resistance at the level of 1.2973 because the double top is set around the spot of 1.3047. Consequently, the strong resistance has already been formed at the level of 1.2973 and the pair is likely to trade around the spot of 1.2973 and 1.3047. However, if the pair fails to pass through the level of 1.3047, the market will...

Korora Updated 

Wave summary: The correction in wave B is likely not complete yet and we are looking for one more spike to a new low closer to 122.10 to complete wave B. If this count is correct, then minor resistance at 124.94 ideally should be able to cap the upside for a break below minor support seen at 124.09 and more importantly a break below support at 123.34 confirming...

Korora Updated 

Wave summary: EUR/NZD continues to gain a little, but we are still not seeing the expected acceleration, which is a bit of a concern. That said, we will continue to look for more upside and ideally acceleration higher towards 1.6655 as long as minor support at 1.5987 is able to protect the downside. A break below 1.5987 will delay the expected upside pressure, but...

Korora Updated 

The US dollar index remains strongly bearish, now looking for a consolidation below the 97.00 psychological level. The nearest support lies around 96.90, which should open the doors to test the level of 96.25. This is the preferred scenario, taking into consideration that the 200 SMA on the H1 chart is pointing to the downside. MACD indicator is in the negative...

Korora Updated 

Recently, the GBP/USD pair has been trading upwrads. The price tested the level of 1.3027. I found that price respected a downward diagonal of the expanding wedge. My advice is to watch for potential buying opportunities. I have placed Fibonacci expansion to find a potential upward target. I got Fibonacci expansion 100% at the price of 1.3095. Anyway, the first...

Korora

Recently, Gold has been trading downwards. The price tested the level of $1,246.00. According to the 30M time frame, there is a fake breakout of yesterday's low, which is a sign that sellers lost downward pressure. There is also a hidden bullish divergence on the ROC oscilator, which is another sign of strength. My advice is to watch for buying opportunities. The...

Korora

Price has bounced up from our buying entry perfectly and is on track to our profit target. We prepare to sell below major resistance at 112.08 (Fibonacci retracement, horizontal pullback resistance, Elliott wave theory) for a drop towards 110.50 support (Fibonacci extension, horizontal overlap support). Stochastic (34,5,3) is fast approaching our 93% resistance...

Korora

Price is testing major resistance at 1.4810 (Fibonacci retracement, Fibonacci extension, bearish channel resistance) and we expect a drop from this level to at least 1.4693 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below the 97% level where we expect a drop from. Correlation analysis: We're...