price is now making some small corrections at the 119.10 - 118.80 level. After the Asia session, we can expect an upside move to the 120.000 level. This development can also the start of an impulsive Eliott wave 1 which can end at level 120.000.
since February of 2018, we see a bullish movement of the dollar currency index. we are approaching the level 99.40-99.50 level which has
a history of support and resistance. the bullish move of dxy turned the EURUSD to the new lows. we are at the point where we can expect a reversal.
short term bias: LONG
Year bias: Short
Nov 2016 was the start of a bullish run. since then, the price is testing the lows and the ups of the horizontal movement. we tested the 107.800 range again, tapped it and now jumping to the next resistance: 114.000.
in the upcoming days, we can expect some small retracements. the main bias for the usdjpy is LONG.
at the moment of writing, the BTC is at 10268 and started to show some exhaustion in the hourly candles. the 5 waves of the Eloitt are now completed
and we are now coming in a zone where the correction will play out. it the end of the correction (C) is around the 9100$ level which is also a neckline.
I expect that the new buyers are waiting there to make the next...
moment of writing, AJ is testing the 74.000 zone which is a neckline. from the previous lows, we see a rejection at the 618. I expect
a little more accumulation before going to the next bullish breakout. we can expect this kind of movements in the next week.
like you see, the extension levels are located inside the bullish uptrend. the numbers for the next week...
gold has shown a clear rejection at the .50 level with multiple wicks and is heading to the extension levels of the Fibonacci. 1595 on the spot gold is in the upcoming days achievable. especially when we add the fear for the coronavirus, we can expect the bullish move./
we see multiple wicks at the 1.9220 zones where the price is consolidated. the price is pushed today to the upside, making some serious bullish moves. I expect some retracements but the main bias is bullish till the 1.95 zone. We can see there a shoulder-head-shoulder formation waiting.
we see on the daily fib that the price is rejected at the 618. there is strong support at the 1.07300 level which also is in line with the extension level of the Fibonacci. we can have some sideways movement around that area. after consolidation, we can expect some bullish action.
with a market SSI of 2.2 at the retail-market, and an outlook of 95% long eurusd...
CHFJPY broke today the ascending channel, tested at the 60 min chart. if the daily candle closes like this, we can expect some more downside movement and see the levels 1.10 insight. With the coronavirus in mind, it can push the nikkei225 up and push down the JPY pairs.
with a strong AUD on the mind, we see that this pair tested the 1.0400 level which aligns with the Fibonacci level. we had last night the NZD news. like you know, AUD and NZD are moving similar to each other. I expect (with some retracements), that the price will come back to the targeted zone.
last week, we saw a new start of the waves. today is the 5th wave (impulsive) completed. we are now entering the ABC correction pattern
see also the start of the pattern: GBPUSD bullish wave chart which I posted on 11-2
In my opinion, the first wave of the Eliott is started and retraced at the 618 level of the Fibonacci which is also the start of the second wave. with good numbers of the English Gross Dometic Products (GDP) and the optimism of the Sterlin, we have a chance to see a stronger GBP in the upcoming days.