There is not much change in the structure from what was presented yesterday. EURUSD trades at 1.1365 levels at this point in time, ideally expected to stay above 1.1310 at least. As discussed earlier, a higher degree Wave (C) is looking to unfold into 5 waves in case of an expanded flat or 3 waves in case of a triangle. In either case, we expect prices to rally at...
Gold had rallied through $1244 after our discussions yesterday, remaining shy of $1246/50 levels. The metal trades at $1239/40 levels at this point in time and it would be a surprise to drop towards $1232 levels, before pushing higher again. Please note that the upside remains intact for now, but a slight pullback maybe due before the bulls are back in control. A...
Gold had rallied through $1244 after our discussions yesterday, remaining shy of $1246/50 levels. The metal trades at $1239/40 levels at this point in time and it would be a surprise to drop towards $1232 levels, before pushing higher again. Please note that the upside remains intact for now, but a slight pullback maybe due before the bulls are back in control. A...
Dow Jones dropped all the way to its interim support at 24100 levels yesterday before pulling back sharply, managing to close near 25000 levels. Looking at the wave structure, a lower degree wave i can be labelled at 24100/200 lows, and wave ii could be unfolding now; as highlighted on the daily chart presented here. Please note that fibonacci 0.618 resistance of...
The US Dollar Index is seen to be trading around 96.65 levels at this point in writing and it might have carved a lower high at 97.20 levels now. After testing 97.20 twice earlier, it has turned lower towards 95.00 levels at least. Please note that a break below 96.00 would confirm and accelerate push further and would be more encouraging for bears to stay in...
The EURUSD is seen to be trading around 1.1390/95 levels at this point in writing after having tested 1.1310 levels yesterday. Immediate interim resistance is seen at 1.1420 levels, followed by 1.1473 respectively. A push through these would be considered encouraging for the bulls to remain in control further. The medium term and higher degree wave structure...
Gold might be unfolding into its last wave at a lower degree at this point, and prices might be hitting $1246/50 anytime soon. The metal is trading around $1241 levels at this point in time and looks like its into a sideways movement at a lower degree before it bursts higher to $1246/50 levels. Looking into the wave structure though, Gold is still working on a...
The Dow Jones might have terminated Wave (2) just short of 26300 levels yesterday, as expected and discussed earlier. It reversed sharply giving in almost 800 points after that and it could be possible that Wave (3) lower might have begun already. Looking at the structure now, the Dow has unfolded into 5 waves from 26950 through 24100 levels respectively, labelled...
Gold has retraced lower from yesterday's highs and is seen to be trading around $1234 levels at this point in writing. The metal is like to find support ahead of $1228/29 levels and it should proceed towards $1246/50 levels. Looking at the short term wave structure, Wave C is unfolding since $1182.50 levels and further it could be into its lower degree wave iii or...
The Dow Jones has reversed sharply after testing 26000 levels recently, in line with the discussions held since last several trading sessions. Looking at the higher degree wave counts, it is becoming clear that after having produced Wave (1) impulse between 26950 and 24100 levels, the indice might have carved a 3-3-5 running flat corrective structure labelled as...
Corrective structures are trick at times and they take their own time to unfold and reveal possibilities. The US Dollar Index has been the same since last two months after having produced an impulse rally between 88.30 and 97.00 levels earlier. The corrective drop in 3 waves is taking time to unfold itself as an expanded flat or a triangle. Since last several...
The EURUSD pair seems to be bound in a range between 1.1500 and 1.1300 levels since last several trading sessions. The higher degree wave structure still remains constructive for bulls with a potential rally towards 1.1650 or 1.1800/20 levels. After printing an impulse wave lower from 1.2550 through 1.1300 levels, we are expecting a 3 wave corrective rally to...
The US Dollar Index structure remains unchanged for now and it is seen to be pushing lower towards 95.00 levels and further. It is trading at the day's low at 96.39 levels and a push below 96.00 levels could confirm and accelerate further, the bearish structure discussed earlier. Please note that prices should stay below 97.54/70 levels for the bears to stay in...
The EURUSD remains unchanged from what was discussed earlier and seems to be on track towards 1.1650 levels at least, until prices stay above 1.1213 levels. It is seen to be trading around 1.1420 levels at this point in writing and should continue pushing higher towards the above targets. Please note that a push above 1.1500 levels would confirm and accelerate...
Gold is seen to be trading around $1238/39 levels at this moment in writing, pretty close to hitting the first soft target at $1246 levels at least. The wave structure remains intact with Wave C progressing well towards $1250/70 levels respectively. Please note that Gold has taken out its first resistance at $1236 levels and could retrace lower a bit before...
The Dow Jones Industrial average rose up to 26000 levels yesterday, before reversing lower. The indice is seen to be trading at 25830 levels at this point in writing (spot) and it might have topped out yesterday. Looking into the wave structure, Wave (2) of higher degree is being worked out as a potential flat or triangle. We had discussed earlier that if prices...
The Dow Jones managed to push through its immediate price resistance at 25500 levels on Friday. It is seen to be trading around 25520 levels (spot), and could be ready for a pullback towards 24800/900 levels going forward. Looking at a higher degree wave structure, after having produced a 5 wave drop from 26950 towards 24100 levels, the Dow is unfolding into a...
Gold is seen to be trading around $1231 levels for now, after carving a higher low at $1216 levels earlier. The metal looks to be pushing towards $1246 mark as highlighted on the 4H chart presented here, in the short term. Looking at a higher degree wave structure, Gold looks to be producing a corrective rally A-B-C since printing lows at $1160 levels earlier....