Gold prices corrected lower since yesterday but support came in close to $1221/22 levels as seen on the 4H chart presented here. Please note that price action keeps the structure intact, and the yellow metal remains well poised to push higher towards $1250/52 levels at least, if not any further. The 4H wave structure remains intact and unchanged as discussed...
The US Dollar Index continues its bearish outlook for now, as presented on the 4H chart here. Looking again into the wave structure, it remains intact with probabilities of a flat A-B-C formation. Wave B most probably terminated at 97.20 levels last week and Wave C cold be underway now, towards 94.70 and 93.80 levels, going forward. Please note that prices should...
The EURUSD continued pushing higher yesterday as expected, printing highs at 1.1500 levels before retracing lower again. We still remain optimistic about the Wave Structure presented on the 4H chart view here. It is indicating that EURUSD could be underway to unfold into a flat A-B-C. If this structure stays, we could see the existing rally continue higher towards...
We had discussed early last week (Oct 29), that Dow Jones is close to completing its 5 wave decline from 26950 levels and a short term corrective rally could be underway any moment. Looking into the price action so far, it seems that the indice has already completed its first wave of the proposed corrective rally at 25600 levels. If the correction is unfolding as...
The hourly chart for EURUSD continues to remain constructive for bulls. Prices bounced off 1.1360 levels yesterday as discussed as potential support and it looks like a corrective drop could be complete from 1.1450 levels. Please also note that 1.1360 is the fibonacci 0.618 support of the rally between 1.1302 through 1.1450 levels earlier (not shown here). Looking...
The EURUSD hourly chart is suggesting that Wave C could be ready to accelerate soon. The currency pair is seen to be trading around 1.1394 levels at this point in time, ready to push through resistance above 1.1620 levels soon. Looking into lower degree wave structure, the rally from 1.1302 through 1.1455 last week may be wave i and the recent drop could be...
EURJPY reversed off its resistance at 129.35 (100% Fibonacci extension x3, 76.4% Fibonacci retracement, horizontal swing high resistance) where it could potentially drop further to its support at 128.50 (50% Fibonacci retracement, horizontal overlap support). Stochastic (55, 5, 3) reversed off its resistance at 94% where a corresponding drop could occur.
Hit a key monthly 61.8% retracement level. With last weeks candle closure and h4 forming a potential double bottom, and h4 divergence signifying a potential reversal, this is a counter trend trade looking to take into the next significant daily/monthly pivotal level and next significant structure.
EURUSD is approaching its support at 1.1433 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.1542 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) is approaching its support at 1.5% where a corresponding...
NZDCHF is approaching its support at 0.6511 (61.8% Fibonacci extension , 38.2% Fibonacci retracement , horizontal overlap support) where it could potentially bounce to its resistance at 0.6619 (38.2% Fibonacci retracement , horizontal swing high resistance). Stochastic (21, 5, 3) is approaching its support at 5% where a corresponding bounce could occur.
NZDCHF is approaching our first support at 0.6501 (Horizontal overlap support, 38.2% fibonacci retracement, 61.8% fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 0.6610 Horizontal swing high resistance, 38.2% fibonacci retracement). Stochastic (21,5,3) is also approaching support and we might see a...
NZDCHF -0.07% has been on our watchlist for a while now and looks to be setting up nicely with the break and close above the key daily support of 0.6500 last week. The 4hr timeframe is printing an uptrend creating the higher highs, higher lows. Typically in a trend the market will re-test areas of structure as it moves higher and as we can see we have a 38.2 fib...
NZDCHF has been on our watchlist for a while now and looks to be setting up nicely with the break and close above the key daily support of 0.6500 last week. The 4hr timeframe is printing an uptrend creating the higher highs, higher lows. Typically in a trend the market will re-test areas of structure as it moves higher and as we can see we have a 38.2 fib sitting...
EURGBP is approaching its resistance at 0.8857 (100% Fibonacci extension , 38.2% & 50% Fibonacci retracement , horizontal pullback resistance) where it could potentially reverse down to its support at 0.8758 (76.4% Fibonacci retracement , horizontal swing low support). Stochastic (21, 5, 3) is approaching its resistance at 89% where a corresponding reversal could...
PS: PLEASE CONFIRM BY YOUR OWN ANALYSIS BEFORE TAKING ANY DECISION ON THIS TRADE
Technical Bias Bullish - Extending upside for the 4th straight session - RSI above 50 and biased higher - Stochs show bullish momentum - Price has broken into daily cloud, tests 23.6% Fib Support levels - 0.6447 (5-DMA), 0.6438 (21-EMA), 0.6371 (Oct 8 low) Resistance levels - 0.6512 (Upper BB), 0.6564 (cloud top), 0.6622 (38.2% Fib) Good to go long on break...
UK100 bounced off its support at at 6873 (61.8% Fibonacci extension, 76.4%, 50% & 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially rise to its resistance at 7236 (50% Fibonacci retracement, horizontal pullback resistance). Stochastic (55, 5, 3) bounced off its support at 2.7%.
USDCAD is approaching its support at 1.2898 (61.8% & 100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.2960 (38.2% Fibonacci retracement, horizontal pullback resistance). Stochastic (55, 5, 3) is approaching its support at 1.7% where a corresponding bounce could occur.