The EURUSD short term wave structure is getting quite clear as each trading session passes. The pair has inched higher and hit 1.1700 levels yesterday before slight pullback. Going forward, bulls could be expected to remain in control and a safe trading strategy could be to buy on dips. We just want to highlight the alternate wave count/structure, if Wave B is...
The US Dollar Index dropped lower yesterday, testing lows at 94.40 levels, before pulling back again. The index is seen to be trading at 94.51 levels at this moment in writing, and could continue drifting lower. There is no change in the bearish potential we had discussed earlier and that a safe trading strategy cold be to hold/add short positions. The index could...
The short term story for Gold is reflecting similar to EURUSD, and bullish scenario prevails. As we have been discussing earlier, please keep the bigger picture in view which is suggesting that the yellow metal could well be on its way towards $1250/70 levels going forward. For immediate short term, we would like to present an alternate wave count if prices...
The AUDUSD took off resistance yesterday and printed highs at 0.7229 levels before pulling back lower. The structure is looking constructive for bulls to accelerate from here and could be possible that a meaningful low is in place at 0.7098 levels. Looking at the wave counts as well, probably an impulse is now looking complete from 0.8130 levels to 0.7098...
EURUSD hourly chart story still suggesting that Wave B could be still unfolding as a more complex corrective structure. Ideally, there is still room for a drop lower towards 1.1470 levels, until prices stay below 1.1660/70 levels as discussed yesterday. The current consolidation could be unfolding as a flat or a potential triangle within the overall zigzag drop...
The US Dollar Index hourly chart continues to consolidate between 94.40 and 95.60 levels for now. The index is trading around 94.90 levels at this point in writing and could drop to 94.75/80 during intraday, before turning higher again. Please note that structurally, the US Dollar Index would require to break below 94.80 and 94.40 levels to confirm that a...
Gold hourly story has been bullish after printing lows at $1188 levels recently. The yellow metal is seen to be trading around $1205 levels at this point in writing and could be pushing higher towards $1250/70 levels as well. Please note that Gold has bounced off the fibonacci 0.382 support of the earlier rally between $1160 and $1215 levels. It is safe to assume...
Dow Jones daily chart view has been presented here again after few trading sessions. Looking at the wave structure, the indice could be still working on a potential flat A-B-C at least. Please note that Dow has remained almost unchanged since past few trading sessions and could be possible that a potential top is in place at 26150 levels. Also note that a standard...
DAX daily chart view has been brought up again to bring up the larger picture. We have been following this chart since 12500 levels and our initial expectations have been almost met at 11800/900 levels yesterday. Also note that the 3rd of Wave (3) might be into progress, at a lower degree and if this count holds true, we could see prices dropping below 11750...
Gold -0.22% dropped towards $1188 levels yesterday before reversing sharply back towards $1200 handle. The yellow metal is seen to be trading at $1194/95 levels at this point in writing and could be looking to push through higher levels going forward. A simplified wave count has been depicted on the hourly chart indicating the potential termination of Wave B at...
The US Dollar Index hourly chart is suggesting that the index might still be unfolding Wave B (potential remains to either test 95.70 levels or print higher towards 96.00), before resuming its journey lower again. The corrective wave seems to be taking mire time to carve a potential top for Wave B termination and it might be unfolding into a zigzag . Overall, the...
The EURUSD hourly chart continues to take its own time to confirm a potential bottom in place at 1.1526 or lower? Corrective waves are mostly trick and they can have tendencies to produce complex structures. Looking at the most probable wave count depicted here, it seems Wave B is still probably unfolding into a zigzag a-b-c structure. Furthermore, it could be...
The AUDUSD chart might be suggesting that a meaningful low could be in place at 0.7091 levels or it could be very close to forming one soon. The drop from 0.7450 levels (wave 4 termination depicted here), could be complete (5 waves) at yesterdays' lows or may push through 0.6950 levels before reversing higher. A push above 0.7200 levels consistently from current...
The yellow metal is taking a lot of time drifting in a narrow range $1190/95 levels since last few trading sessions. Please note that the metal needs to consistently clear $1208/10 levels to confirm a potential bottom in place at $1189 levels. Looking into the wave structure, Gold -0.15% still remains vulnerable for a potential drop towards $1185 levels before...
The US Dollar Index short term story continues to inspire a potential bearish reversal. We can safely assume that the index has either formed a potential top at 95.70 levels or it could test 96.00 levels before resuming lower again. A consistent push below 94.80 levels could indicate that a meaningful top is in place at 95.70 levels. In either case, it is safe to...
The EURUSD hourly chart is suggesting that the currency remains a potential buy on dips. It remains to be seen whether 1.1526 is able to act as a bottom/support for the next leg up or a more complex correction is unfolding. If the latter scenario unfolds, we could see yet another drop lower in a flash, towards 1.1470 levels before the rally could resume. In either...
The AUDUSD currency pair has slipped below 0.7147 levels on Friday rising probabilities to test below 0.7000 levels but bullish divergence on the RSI still remains. At the moment, it is safe to assume a neutral stand rather than aggressively bullish , and keep a close watch on 0.7200 resistance. A break above that level could warrant a bullish reversal. On the...
Gold 0.02% has come back into the sell zone of its counter trend line discussed on Friday. The metal could be presumed to be just retracing its previous swing between $1189 and $1207 levels for now, but please remain open towards a potential push lower. We have been discussing the probability of Gold 0.02% finding support around $1185 levels before resuming rally...