Cardano found its bottom support last night at 563 sats. Since, it has made a jump back into the 700s and has formed a bullish pennant, with price being squeezed between 640 and 720. RSI has also found good support at 45.
We are currently waiting for a crossover of the 55 EMA and should expect a breakout above the 720 resistance line soon.
AUDUSD did not move much recently, so our view remains unchanged; we still see pair making a corrective set-back in wave B which is now trading into some interesting Fib. Support zone with sub-wave c, here at 0.7579 area. We think bounce may occur from here, but keep in mind that wave C leg may occur only if price crosses above 0.7620, which would be a...
EURUSD has turned up in the last two weeks; it broke above the channel resistance line that normally confirms a previously completed move; in our case that was finished a-b-c decline from September high. As such, it seems that wave four on a daily time frame came to an end about we talked a lot in the past which means that more gains may follow now within higher...
Good evening traders!
Hope everybody had a good weekend; now let's start with quick peek of AUDJPY.
AUDJPY is displaying a nice bearish reaction away from 89.07 region where red wave (2) had ended. We are now tracking wave (3) that must by the end of its run unfold five minor waves. On that note we are currently observing minor wave 3 of (3) that can search for...
Good day traders! Hope everybody is doing great. Let's dig in.
On the intra-day chart of EURUSD, we see price unfolding a strong bullish movement, which suggest an impulse to be in progress. We can see waves 1 and 2 completed, so current strong rally can be wave 3, that may see limited upside near the Fibonacci ratio of 61.8. That said, once wave 3 unfolds a new...
Daily chart of EURUSD shows us a five-wave bullish impulse in the making. Current three-wave decline can be corrective wave 4, with temporary support coming in at Fibonacci ratio of 38.2 and the upper channel base line. If price breaks below this region, then our alternate, bearish count would be in play and we would expect more weakness.
Disclosure: Please be...
