The EURUSD is seen to be trading around 1.1360 levels at this point in writing after having carved a higher low at 1.1305, on Friday. Ideally, it should remain above 1.1213 levels going forward, to keep the medium term bullish structure intact. At a higher degree wave count, EURUSD seems to be unfolding into an (A)-(B)-(C) correction since mid August 2018, after...
The US Dollar Index reversed from 97.20 highs on Friday and is now seen to be trading around 96.85 levels. It is quite possible that the index has carved yet another lower high at 97.20. A push below 96.00 is now required to accelerate further lower. Also, 97.70 should remain intact for the medium term bearish structure to hold good. Looking again towards the wave...
The US Dollar Index is seen to be unfolding into a lower degree wave iii lower towards 95.00 levels. It has print a low at 96.60 levels and is seen to be trading at 96.71 levels at this point in writing. Looking into the wave structure, it remains quite clear that a higher degree Wave (C) is unfolding since 97.70 levels earlier and within that a lower degree wave...
The EURUSD pushed higher towards 1.1400 levels yesterday before pulling back lower. After rallying from 1.1267 through 1.1401 levels, the pair is consolidating lower now and is seen to be trading at 1.1377 levels at this point in writing. Looking into the short term wave counts now, a lower degree wave iii could be unfolding into 5 waves and push towards 1.1650...
Gold prices are seen to be trading around $1223/24 levels at this point in writing, after having print interim highs at $1228 levels yesterday. Looking into the wave counts, it seems that the metal could be preparing for a brief dip towards $1218/19 levels before making a move forward towards $1250/70 levels as projected earlier. Please also note that the metal...
The Dow Jones almost hit the first soft target at 25480 levels yesterday before pulling back lower again. It is quite possible that we see a brief pullback lower before the rally continues. Please note that it was close to taking out the resistance at 25500 levels as discussed earlier. Looking into the wave structure from here, the indice is expected to pullback...
Finally we could see the EURUSD terminating its lower degree Wave ii yesterday at 1.1267 levels, closer to our projected one! It is seen to be trading around 1.1390 levels at this moment of writing and we could see it pushing further higher in acceleration. Looking into the wave counts, we have a lower degree wave i (terminated at 1.1472) and wave ii (terminated...
The US Dollar Index finally tests 97.51 levels as expected yesterday, and carves a lower high at 97.54 levels. It is seen to be trading around 96.65 levels at this point in time, and could be looking to continue lower in acceleration towards 95.00 and 94.00 levels respectively. Please note that the index has produced an engulfing bearish candlestick pattern on the...
Gold forms a bottom at $1211 levels and reverses sharply! The metal is seen to be trading around $1226 levels at this point in time and should be looking to push through immediate resistance at $1232 and further. Looking at the wave structure, Gold is seen to be unfolding into its Wave C higher towards $1250/70 levels. Furthermore, within the Wave C, the metal...
The Dow Jones pushes above 24800 levels, confirming that 25500/600 could be the next resistance to be taken out! We discussed the probability for the indice to reverse sharply higher if 24100 levels hold, last week and a safe strategy could be to take profits on the shorts taken earlier, awaiting for opportunities to sell higher again. Now, we see Dow trading...
The US Dollar Index pushed higher above our expectations to terminate potential wave ii rally as presented here on the daily chart . The index is seen to be trading around 97.44 levels at this point in time expected to carve a lower top below 97.70 going forward. Looking into the wave structure, after producing an impulse rally between 88.30 and 97.00 levels...
The EURUSD dropped lower than what was expected as a potential wave ii termination point, around 1.1320 levels. It trades close to 1.1290 at this point in writing and is expected to find support around 1.1275/80 levels as fibonacci 0.786 support passes through. Looking into the wave structure, wave i and ii counts still remain valid as presented on the daily chart...
Gold prices have dropped lower towards $1212 levels for now, and this was a probability discussed yesterday. Please note that $1212 is also the 50% retracement of the rally between $1195/96 and $1245/46 respectively. Looking into the lower degree wave counts, it still remains possible for the metal to drop towards fibonacci 0.618 support at $1209/10 levels before...
The Dow Jones spot closed around 24750 yesterday. If prices manage to rally past 24800 consistently, Dow could be heading towards 25400/500 levels soon. Looking at the medium term wave structure, after having unfolded into 5 waves drop between 26950 and 24100 levels earlier, it is quite possible that wave (2) is in place around the 26300 levels. Alternately, wave...
The Dow Jones reversed sharply from its last week close at 24285 levels after opening higher yesterday. The spot closed at 24638 levels, having potential to push through 26000 levels as well. Please note that a rise above 24800 levels would be considered to be encouraging to bulls and open doors to take out strong resistance at 25500 levels going forward. Looking...
Gold prices did drop lower as discussed earlier, but seems to have found support early at $1220 levels. Please note that structurally the metal could still drop lower towards $1217 and up to $1210 levels as well, before turning higher again. At a higher degree, Gold is into an A-B-C corrective rally since lows at $1160 levels earlier, and is further progressing...
The US Dollar Index had print highs at 97.28 levels before pulling back and is now seen to be trading around 97.13 levels. Looking at the lower degree wave counts, the US Dollar seems to have waves i and ii in place at 96.00 and 97.28 levels respectively. Please note that wave ii terminated at the fibonacci 0.618 resistance level of wave i and if this holds, we...
EURUSD print a lower low at 1.1305 levels today before pulling back, and is at 1.1320/25 levels at this point in writing. We discussed probability of EURUSD dropping to 1.1312 levels before resuming rally and if this is the case, it could be safe to assume that the lower degree wave ii (highlighted on the chart presented here), terminated at 1.1305 levels. Looking...