The price, after breaking below the downward trend channel, is attempting an upward retest before the impending decline. Following this retest, if the price breaks below the trend channel again to form a head and shoulders pattern, we anticipate the price to descend towards our primary target, which is the 61.8% level of the upward trend.
The dollar index, after breaking the downtrend channel, appears to have encountered resistance around the Fibonacci retracement level of 38.2% before continuing its upward movement. Although the primary direction for the dollar seems upward, prior to this upward movement, there might be a retracement of the upward movement that started from the bottom to either...
We anticipate a decline in Boeing stock, which we believe completed the Elliott 5th wave with 8 weeks of continuous ascent. Initially, we expect a drop to $230, and if this level is breached, we anticipate a decline to $222, corresponding to the 38.2% level.
The price, having completed the Elliott 5th wave in the downtrend, found support in the historical support zone and exhibits an upward bias in the daily chart's candlestick movements. Our initial targets align with levels corresponding to the trend line, but we anticipate the price to break the trend line in the medium term and further ascend. Particularly with...
With the DXY retracement, we might witness a slight decline in the price. Subsequently, our initial targets are the remaining peak of the downtrend and the 38.2% Fibonacci level. Upon breaking these levels, our primary target is the 61.8% level.
In the price, which has begun to break the downward channel upwards, we might observe a minor decline alongside the pre-rise retracement of the DXY. Subsequently, with the data expected during the week, we anticipate a rapid ascent towards the 61.8% level.
We anticipate an upward movement in the price towards the intersection of the classic resistance zone with 23.6% due to the expected retracement in the DXY, followed by a subsequent decline.
We anticipate the price, following the DXY retracement, to complete the 4th corrective wave of the downward trend in the specified selling zone. Subsequently, we expect the 5th wave to sharply conclude on the downside during the week, possibly influenced by upcoming data.
We expect a pullback in the DXY, with the price rising to the Fibonacci levels of 61.8% or 76.4% and then anticipating a decline towards the channel's lower boundary. The fundamental outlook for the DXY and the dollar suggests that the price might break the upward channel and drop towards the 61.8% level.
The DXY has broken the short-term downtrend and found clear upward support from the Fibonacci %61.8 level of the primary uptrend. According to the Elliott Wave theory, the price, having completed the 1st wave of a new uptrend, is now poised to finish a complex ABC correction before the 2nd upward wave. Prior to the uptrend, a retracement towards the range of...
Following the FED announcement, gold has started to decline and is approaching the intersection of the classic support level and the Fibonacci 50% retracement level. The 21-period RSI is in oversold territory on the D1 chart and all lower timeframes. Additionally, it has reached its primary target in the double top formation formed before the decline. In the...
The price, which reached the long-term resistance level, opened lower with a gap at the weekly opening. Additionally, the 21-period RSI on the H1 chart is in the overbought zone, and the price opened with a gap from the resistance zone. This signals that the price could potentially decline towards the support level.
On the D1 chart, we observe a rebound from the key Fibonacci retracement level of 61.8% within the main downtrend. Our initial target to the upside is the 23.6% retracement level. Additionally, on the daily chart, the price is supported by a Morning Star candlestick pattern, signaling an upward movement. Before continuing the ascent, we might witness partial...
In the pair where the main trend is downward, the price has broken above the Fibonacci 23.6% level and has received an upward reaction from the support zone between 38.2% and 23.6%. In medium and long-term trends, after the break of the 23.6% level, we often see a retest movement back to or above the 23.6% level before reaching the 38.2% level. Additionally, on...
With the recent FED announcements and the probability of continued high inflation and high-interest rates, the market sentiment has shifted towards moving away from stocks, gold, and other currencies and into the US dollar. However, the Swiss Franc continues to maintain its safe-haven status, and with its strong financial structure and economy, it is likely to...
In the GBP/CAD pair, which still has a downtrend, we can observe a correction uptrend following a 15-day decline. The price has reached the 23.6% Fibonacci level of the decline zone and the 21-period RSI on the H1 chart has entered the overbought territory. Before expecting further upside, we can anticipate a downward move from the 23.6 resistance level, which...
The Bank of Japan (BoJ), persistently pursuing an excessively loose monetary policy, has been causing historic losses in the Yen for the past 2 years. There is actually a relatively valid reason behind this loose monetary policy, and the BoJ is deliberately causing the depreciation of the Yen. We will soon publish a detailed analysis and article on this...
Last week, the Bank of England (BoE) surprised the markets by keeping interest rates unchanged, contrary to expectations of a rate hike. This decision led to a rapid depreciation of the pound sterling. It appears that this depreciation may continue for some time. We will soon share a detailed situation report on the pound sterling in the Trader News section. The...