EURUSD trades around 1.0873 at this point in writing and bulls remain poised to push through 1.1090 to terminate lower degree Wave iii, as discussed yesterday. A break above 1.0888 would confirm and add further confirmation. The medium term wave structure still indicates that EURUSD might have completed its corrective drop A-B-C around 1.0768, terminating...
We present EURUSD 1H chart today with lower degree wave counts and projected targets. After terminating potential Wave 2 around 1.0768 levels, EURUSD has managed to produce a lower degree impulse rally towards 1.0927 levels yesterday. Please note Wave 3 might be underway since 1.0768 levels and the recent rally could be labelled as wave i. The subsequent drop to...
Dow Jones has dropped from 29600 through 18200 levels until now and might have terminated Waves 1, 2, and 3 around 25000, 27000 and 18200 respectively. Another probability is that Wave 3 is extending and might have completed Wave (i) around 18200 wile Wave (ii) is expected to terminate close to 23700 respectively. Either way, a bearish reversal is expected from...
WTI Crude monthly chart has been presented on a log scale with potential wave counts. The rally between 10.65 low on December 01, 1998 and 147.27 high (July 2008) was an impulse, labelled as Wave (1). The subsequent drop A-B-C has been corrective and might have terminated at 19.29 levels, labelled as Wave (2). Also note prices bouncing from close to the channel...
GBPUSD might have carved a meaningful low at 1.1414 on March 19, 2020. The wave structure since then indicated a potential impulse rally in progress, and probably into Wave 5 at this point in writing. Wave 4 might have terminated at 1.2163 levels early this week and Wave 5 seems to be underway, targeting 1.2900 levels at least. Immediate price resistance is seen...
Gold might have carved a meaningful top at $1703 levels on March 09, 2020. The corrective rally that had begun since $1046 lows in December 2015, seems to have finally terminated at $1703 levels, and the yellow metal might be heading lower for several weeks and months to follow. Bottom line is that prices should remain below $1703 resistance. The recent structure...
Bitcoin daily structure presented here is indicating that a larger degree impulse Wave (1) completed at 138000 levels, after forming lows at 3122 lows in December 2018. The subsequent drop proved to be a combination and might have terminated at 3850 as Wave (2). Ideally Bitcoin should stay above 3122 to keep the bullish structure intact. Also note that the recent...
The US Dollar Index might have carved a meaningful top at 103.00 levels on March 19, 2020. Looking at the wave structure since then, the index has managed to carve Waves 1 and 2 at 98.27 and 100.90 levels respectively. This could be the beginning of a 5 waves drop at one higher degree, which could drag prices lower below 94.65 at least. Wave 2 has managed to...
US Dollar Index had earlier rallied to 103.00 levels and might have carved a potential top. Bears continued to remain in control since then and they have managed to produce Wave 1 lower towards 98.27. Furthermore, the impulse drop has been retraced up to fibonacci 50% of the earlier drop, around 100.91 levels respectively. The US Dollar Index is breaking below its...
EURUSD seems to have carved a meaningful bottom @ 1.0636. The rally towards 1.1150 could be Wave 1, which was followed by a corrective drop, terminating around 1.0760/70 yesterday. Wave 2 has found support just around the fibonacci 0.618 retracement of Wave 1 and produced an engulfing bullish pattern. The above wave structure should be constructive for bulls,...