Technical Analysis and Outlook: The Eurodollar has broken through our Mean Support level of 1.077 and has quickly risen to hover around the Mean Resistance level of 1.084. This momentum is expected to generate further selling pressure, resulting in a decline to the Mean Support level of 1.074. Ultimately, the Eurodollar is expected to reach an Inner Currency Dip...
Technical Analysis and Outlook: In this week's price action, Bitcoin rapidly moved towards a Mean Support level of 66700 and, in the process, established a new Mean Support level of 65600. This new level is being used as a base to ignite the bullish trend further. Currently, the market is experiencing consolidation, with the expectation of moving toward reaching...
Due to the significant rise in gold prices, our primary scenario for Wheaton Precious Metals has been invalidated, and we've recharted the entire course for you. We now believe what we're witnessing could be a potential Wave 5 of Wave (3), meaning we're in the overarching Wave (3). This wave should reach at least 88 Canadian dollars, stretching potentially above...
Good morning! Daily review of EURUSD: After yesterday's corrective movement in the long direction (I remind you that on higher timeframes we continue to be in a short context on the daily timeframe). In the New York session, we witnessed a breakdown of the market structure into a short context. My intraday target is the minimum formed during the Asian session.
The pound, like the euro, has been in a short context since yesterday. The clear priority is to work in the short direction. A local magnet for price is the FVG formed above, from which we would like to see a reaction, with targets set at the Frankfurt minimum.
Just mapped out the AUD/USD on the 15-minute timeframe and spotted an Elliott Wave sequence that's just concluded with an upward trend. We're now in what appears to be a corrective phase. I'm using Fibonacci retracement to gauge where the pullback might end. Curious to see if we'll get a bounce-back or if the trend will extend further. What do you think is next...
Caught a glimpse of the GBP/JPY on the 15-minute chart and we're seeing an interesting situation unfold. After a bullish run, it looks like we've hit a corrective pattern. I've drawn out a possible trajectory for the next move, keeping an eye on the previous resistance turned support. Do you think we'll bounce back from here? Drop your insights and predictions in...
Just analyzed the GBP/USD pair on the 15-minute timeframe and noticed an interesting pattern. After a bullish impulse wave, we seem to be in a corrective phase. I've used the Elliott Wave theory to map out potential moves. The market often repeats these patterns, so it's crucial to pay attention to them. Do you see a rebound happening soon or are we in for more...
Taking a look at the Gold Spot vs. U.S. Dollar on the 15-minute chart, we can see a classic Elliott Wave pattern playing out. After a solid uptrend marked as waves (1) to (3), we've entered a corrective phase. I've applied Fibonacci retracement levels from the peak of wave (3) to forecast potential support zones for waves (a) and (b). Keep an eye on the 0.618...
Here are things you should know: - 14 months of pure sideways consolidation - Clearly defined support and resistance - 6 Week consolidation at the resistance zone makes the resistance weak - Volumes have died out. That usually happens when the price consolidates - Investing in such companies is a matter of trust and confidence in the company and its management....
Just dived into the NASDAQ 100 30-minute chart and it looks like we're wrapping up an Elliott Wave sequence with wave (4) in play. I'm predicting a few potential paths for wave (5), with Fibonacci extensions hinting at where we might see some resistance. Market patterns are always intriguing to track. What's your read on this? Are we heading for a new high or is a...
Zooming into the Dow Jones on the 15-minute chart, we've seen some interesting price action. The market has traced what seems like an Elliott Wave pattern, and we're currently in a corrective phase after a bullish wave. I've plotted potential future moves based on this. Do you reckon the index will rally from this pullback or is there more downside to come? Throw...
Got my eyes on the EUR/JPY 15-minute chart here, where we've seen a nice bullish trend. It looks like we might be entering a corrective phase after the uptrend. Using the Elliott Wave principle, I'm predicting possible paths for the pullback. It's always fascinating to see if the market will follow these patterns. What are your thoughts? Will the Euro find support...
Analyzing USDJPY, I've pinpointed a strategic SHORT opportunity. Technical patterns indicate a bearish shift, with the pair forming a significant top and showing rejection at key resistance levels. A bearish divergence in the RSI and a potential crossover to the downside in the MACD highlight the growing downside momentum. The macroeconomic environment reinforces...
Turning my focus to EURJPY, a compelling SHORT opportunity has emerged. Technical indicators reveal bearish momentum, with the pair showing resistance at a crucial Fibonacci retracement level and forming a bearish engulfing pattern, signaling a potential reversal. The presence of a bearish divergence on the RSI and a downward turn in the MACD further supports the...
In my latest analysis of AUDNZD, I’ve identified a prime opportunity for a SHORT position. The pair is showing clear bearish signals, with a consistent failure to break through key resistance levels, and the formation of a double top pattern on the daily chart, suggesting a reversal is on the horizon. This technical setup is further validated by a bearish...
Delving into AUDCHF, I've spotted a compelling SHORT setup. Technical indicators signal bearish momentum, with the pair failing to surpass key resistance and forming a descending triangle pattern, suggesting a downward breakout is imminent. Accompanied by bearish MACD divergence and an RSI trending below the midpoint, the stage is set for a decline. Economically,...
Examining USDCHF, I've discerned a strong LONG opportunity. Technical indicators show the pair is poised for an upward trajectory, with a breakout above recent resistance levels signaling bullish momentum. This is further supported by a bullish MACD crossover and an RSI moving into positive territory, suggesting increasing buying pressure. The macroeconomic...