With price unable to drop during yesterdays downward momentum, clearly shows there is some bull left in this pair. I believe the media is being used to spread news of a strong dollar while the big boys go long. This week will close bullish then next week we should look to buy the dips. On the monthly price has already reacted showing an end to the long downtrend....
Price retraced yesterday after bullish usd news to close above 0.978 zone. I expect price to retrace to this levels 0.9705 and 0.9790. This will be dips giving us an opportunity to buy more. Targets are parity 1.0000 zone. Use proper risk management.
Hello Traders, Euro is trading near 161.8% fibo a critical area in which we will be looking to start a pullback higher and to think of long positions.
however in terms of Elliott waves we can still have a missing leg towards a double bottom or a minor new low before any reversal might happen.
is it time? time for what u may ask... TIME TO LONG EU!!!! In 2021, usd has fell to multiyear lows against aud, cad, gbp, & nzd.
Euro, along with ch& jpy, has been lagging TREMENDOUSLY .. & now with the dollar pairs at support across the board and euro showing signs of life in other pairs i truly believe we can see 1.23 again and THE JOURNEY BEGINGS HERE
ENTRY...
Gold Witnessed a fives waves down reaching 1802 Level, and entering a 3 waves pullback at the moment.
at first we take into consideration that the pullback is corrective targeting 1863 unless the chart gave us a bullish momentum and broke the target.
be aware of a counter wave for now to retest 1830 level at which it will be a good entry to go long again.
the pair is finishing an intermediate 5 waves cycle that will label the grand cycle wave 3.
the resistance area is expected to start near 1.2260-1.2290.
a three waves pullback is expected to retrace and retest previous wave 4 near 1.2060.
we will be looking forward to buy the pair again to target new highs finishing wave 5.
Gold is probably going to start a minor pullback to finish a corrective wave 2)
that will be an opportunity to long again, as you may see in the chart above my count is impulsive, as i see gold may reach 1901 in the near term, and if broker 1057 again.
wave 2 can retrace 61.8-76.4 % of wave 1 that means the invalidation level is going to be near 1820's. if my...
Gold retraced nicely from 1750/60 area, and i believe that the last bounce is impulsive as we can see a 5 wave formation momentum.
that means any pullback for gold between 1820-1805 level is an opportunity to long gold. i know that the vaccine news can work against our analysis but with all respect i think that the market already discounted the vaccination...
