It seems that XAUUSD is making an ABCDE correction for its previous bearish trend. As these recent trend-like movements are slightly overlapped, It rises the possibility for these movements to be an ABCDE correction. The price target should be reached within 4 months and after that, it's high probable that XAUUSD begins a new bearish trend. It's worth mentioning...
Cable fell to 1.2080 two weeks back where pair found a support and from there turned up in impulsive fashion. It looks like a nice reversal spike that sent bullish price move in play. We are now looking up towards the 1.2600 area, after wave (4) pullback which can be looking for a base at 1.2350-1.12400 support area.
Hello mates , Here we are in a correction of the previous impulse XA , we will be looking to buy near a break the previous bottoms , confirming that with a flag , maybe near the 61.8% of the previous impulse . Also it is forming a Bullish Bat Pattern , if we reach that area before we see a confirmation of an uptrend , we should watch that too. Do not buy too...
NZDUSD can be very interesting this week, in case of USD strength. Hourly charts shows a potential contra-trend move up from 0.7034 that can stop near 0.7350 this week. However, a five wave decline back to 0.7200 will be needed before we will be able to call end of a recovery.
USDJPY found a support at 102.50 from where we are now observing a new recovery, but a minor one as part of a bearish impulse. We are tracking wave four which will normally retrace for a 38.2% back to the area of a former wave four. This interesting zone comes in around 103.50, so we would not be surprised if a new sell-off will occur from there in sessions ahead....
Yesterday's close <2,100 is a confirmation of the negative trend which has been forming Most technical indicators have now turned negative for the S&P 500 50MA is getting dangerously close to a negative "death cross" formation with MA100 We are approaching oversold levels but not yet dramatically so Next few weeks provide just enough uncertainty (elections, Fed)...
Changed my idea for this pair now. Can still be bought in the short-run, but it's best to wait for confirmation @0.91483 because it's due for correction based on higher timeframe chart analysis. 1W: 1D:
I love to share this trade, if it breaks the line that i made i wait for a correction then i buy for a long trend bullish.
So there's a reasonable expectation for the EURUSD to correct after the huge rise seen these days. There are several old zones (suports and resistances) that could work, yet the H4 could prove evidence otherwise. Fundamental factors do in fact point to EURUSD not getting back to the pre-draghi levels in my opinion, but it rather depends on the NFP data tomorrow...
As XAGUSD begun to correct its previous bearish trend and completed waves A and B as expected, now it's going to reach the End-Of-Wave C price target area and probably complete its major correction. After reaching that area, it is highly probable that XAGUSD begins a new bearish trend.
A retracement to support levels will be very healthy and will allow some of the TA indicators to come down from overbought levels. Target in the range of $680-$695.
I believe this pair still has some room to play until it comes near the shorting area.
USDJPY dropped sharply yesterday, well bellow a channel support connected from September low which suggests that market completed a five wave rally up in black wave (c) of C-circled. Decline is also very aggressive, so we believe it's part of a bigger three wave drop that can continue even to 101-102 area for wave D-circled based on an Elliott Wave triangle ...
It seems that USDCAD is going to reach at the probable end of major correction of its previous bullish trend. Weekly Stoch. is over-bought and daily Stoch. has made a bearish reversal. After reaching this area, it is highly probable for USDCAD to begin a new bull trend.
Hey traders, lot's of sideways movement on most of the pairs this week. I like a long position at support if this Gartley pattern completes. TP level is set at 618CD with SL below X. If price powers through the SL, I want to be short toward long term missed pivots below. Happy trading!
Hey traders! Pretty choppy week on the currency front, and I like trading harmonic patterns like this one during sideways price action. I have an entry at the top of the PRZ with target at .618CD. Trendline may add resistance below the SL, and it is important to watch PA near the lower TL should price reach that level. More updates to come, cheers!
USDCHF is in sharp rise for the last couple of weeks with increasing bullish momentum since market found support at 0.9640 so it appears that strong bullish trend is in progress now. In fact, we can count five waves up from 0.9640 which is a structure of an uptrend, so we can expect more upside after any three wave of retracement. Recently market fell sharply from...
the minor correction has completed expect an impulse to the downside if price breaks below trendline other wise one more retest of the trend line highs then an impulse down