The United States dollar is a Federal Reserve Note and is the official currency of the United States and its overseas territories. Many countries use it as their de facto currency, while others use it as their official currency. The US dollar is the world’s most dominate reserve currency and is used in most international transactions. It is flat money which means that its value is derived from government regulation or law.
USDJPY is testing its support at 112.191 (100% Fibonacci extension, 23.6% & 38.2% Fibonacci retracement and horizontal overlap support) where it could potentially bounce to its resistance at 113.494 (61.8% Fibonacci retracement). Stochastic (55, 5, 3) is approaching its support at 2.32% where a corresponding bounce could occur.
Price is moving to 5.6889 it's Key level which stopped pullback down. Only big players can stop such move. That's why I think in the future they will protect that level.
Near 5.6889 Technically we can open a Long position with low risk.
Goal will be: 6.64 and 6.82
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XAUUSD is approaching our first support at 1211.39 (horizontal pullback support 23.6% Fibonacci retracement, 61.8% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 1238.09 (horizontal pullback resistance, 38.2% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure in and ...
AUDUSD reversed off its resistance at 0.7144(61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where it could potentially drop further to its support at 0.7081 (61.8% Fibonacci retracement, horizontal overlap support). Stochastic (55, 5, 3) reversed off near its resistance at 98% where a corresponding drop could occur.
XRPUSD is approaching our first support at 0.3757 (horizontal overlap support, 76.4% Fibonacci retracement) and breakout might occur below this level pushing price down to our major support at 0.2718 (horizontal swing low support, 100% Fibonacci extension).
RSI (89) is also seeing a bearish exit and we might see a corresponding drop in price.
Trading CFDs on ...
GBPAUD is approaching its support at 1.8393(100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.8519 (38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) is approaching its support at 7% where a corresponding bounce could occur.
EURCAD is approaching its support at 1.5010 (50% & 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.5129 (horizontal swing high resistance). Stochastic (21, 5, 3) is approaching its support at 1.7% where a corresponding bounce could occur.
The EURUSD hourly chart is suggesting that a meaningful bottom could be in place at 1.1432 level last week and that the currency pair could be now progressing into Wave C higher. Looking at the medium term wave structure, EURUSD has remained in control of bulls since 1.1300 levels earlier. It seems to have completed Waves A and B and Wave C could proceed higher ...
NZDUSD is approaching our first resistance at 0.6543 (horizontal overlap resistance, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 0.6429 (horizontal swing low support).
Ichimoku cloud is also showing signs of bearish pressure and stochastic (34,5,3) is also ...
ETHUSD is approaching our first resistance at 203.43 (horizontal overlap resistance, 23.6% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 167.99 (horizontal swing low support).
Stochastic (21,5,3) is also approaching resistance and we might see a corresponding drop in price.
Trading CFDs on margin ...
Gold seems to be progressing swiftly towards $1250/70 levels for now. Let us have a re-look of the story unfolded until now. The yellow metal has been projected to be within a 3 wave counter trend rally since the lows formed at $1160 levels earlier. Within the above medium term bullish wave structure, Wave A and a complex corrective Wave B terminated at $1216 and ...
The AUDUSD pair remains bullish for the medium term and bulls could be poised to push higher towards at least 0.7370 levels, going forward. Looking at the overall wave structure, the AUDUSD might be producing an expanded flat correction after having completed a 5 waves impulse drop at 0.7085 levels earlier. A probable wave count has been depicted here, which could ...
The US Dollar Index could be well on track towards 92.00 levels going forward, as Wave C progresses. It is safe to assume that Wave B terminated at 96.16 levels last week and ideally prices should remain below that. Looking at the overall wave structure as depicted here on the hourly chart as well, the US Dollar Index seems to have completed Waves A and B. If this ...
Wait for the price to hit the bottom of the pattern and watch strong price action for buy. Long term investment is buying not selling.
Don’t take a trade if you don’t see clearly when big guys are in.
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Seems like we have a completed expanding flat structure.
As long as price remains below 96.16, we are expecting the dollar to continue weakening towards 93.59.
*Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk ...
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