The $h chart view for Gold is suggesting that bulls might still remain in control, even though prices dropped as low as $1200 levels yesterday. Please note that the yellow metal is finding support around fibonacci 0.618 of the rally between $1182.00 through $1245.00 levels respectively. Furthermore, the counter trend support trend line is also seen to be passing...
The Dow Jones reversed sharply yesterday and was almost 600 points lower at close (25389 levels. This drop did not come as a surprise to us and was anticipated last Thursday. 08 November, when prices reversed from sub 26300 levels, followed by an evening star reversal pattern on Friday. Looking and the wave structure, we maintain our bearish outlook as last week...
The daily chart view for US Dollar Index has been presented here with alternate wave counts since 88.30 through 97.70 levels respectively. It could be possible that 3rd of 3rd wave was an extension and that brings us to a possible wave (3) termination at 97.00 levels. Wave (4) potential termination point was 93.80 followed by wave (5), which probably ended into an...
The EURUSD pair dropped below 1.1300 levels yesterday and print fresh lows around 1.1216 levels before recovering. The currency pair is seen to be trading around 1.1240 levels at this point in writing and needs to break above 1.1500 from here to regain the bullish momentum. Looking into the daily chart wave structure, we have considered an extended 3rd of 3rd wave...
The US Dollar Index is seen to be threatening to break above 97.20 levels at this point in writing. Please note that a break above 97.20 could trigger bullish potential to higher levels but we shall remain neutral in that case. Until prices stay below 97.20 levels, it is favored to drop lower towards 94.70 levels at least. Intermediary price resistance is seen at...
The EURUSD comes further close to 1.1300 levels for now and is seen to be trading around 1.1311 levels at this point in writing. Most traders would want to turn bearish but we still remain long until prices stay broadly above 1.1300 levels going forward. A break below 1.1300 levels could trigger a potential sell off but we would remain flat and would wait for...
Gold prices dropped lower than expected and formed fresh higher lows at $1206 levels on Friday. The structure from $1245 levels until now, looks to be corrective and could be retracing its earlier rally between $1182.5 through $1245 levels respectively. Please also note that prices could find support here, since it is a convergence point of fibonacci 0.618...
The Dow Jones closed lower on Friday, around 26000 levels, after carving a potential lower top around 26300 levels earlier. Please also note that, prices reversed lower forming an evening star ( bearish ) candlestick pattern between fibonacci 0.618 and 0.786 resistance levels. Looking into the medium term wave structure, it looks like a 5 down (impulse), followed...
The Dow Jones turned lower from around 26300 levels yesterday. It is too early to confirm a bearish reversal on the daily chart but potential remains for the same. At the same time, please also note that Wave C equals Wave A at 26500 levels, hence an upside through those levels cannot be ruled out. The wave structure is representing an impulse drop from 26950...
Gold prices have remained subdued for now by dropping towards $1218 levels at this moment of writing. Believe it or not, the structure still remains bullish till prices stay above $1212.00, going forward. At the same time, please also note that a drop below $1208 could indicate that a meaningful top is in place at $1245 levels and that the metal is looking lower...
The US Dollar Index has rallied past 96.70 levels, above our expectations and has print highs at 96.93 levels for now. Please note that the US Dollar Index has carved a potential lower high below 97.20 levels and could possibly reverse from here. We shall remain open to any alternate scenarios according to price action but the index maintains its bearish structure...
The EURUSD has reversed sharply from 1.1500 highs. Ideally, prices were expected to remain above 1.1350 levels to keep its medium term bullish structure intact but the markets as usual springs up surprises and alternate wave counts come into picture. At this moment in time, the EURUSD is seen to be trading around 1.1331 levels, and might threaten our proposed...
The Dow Jones continues to print higher highs for now, as Wave C progresses within A-B-C corrective rally, as discussed earlier. Please note that wave C would be equal to wave A around 26500 levels and also the fibonacci 0.786 resistance is seen through 26350 levels, indicating a pretty close convergence. We are now changing our stand fro neutral/bullish to...
Gold prices corrected lower since yesterday but support came in close to $1221/22 levels as seen on the 4H chart presented here. Please note that price action keeps the structure intact, and the yellow metal remains well poised to push higher towards $1250/52 levels at least, if not any further. The 4H wave structure remains intact and unchanged as discussed...
The US Dollar Index continues its bearish outlook for now, as presented on the 4H chart here. Looking again into the wave structure, it remains intact with probabilities of a flat A-B-C formation. Wave B most probably terminated at 97.20 levels last week and Wave C cold be underway now, towards 94.70 and 93.80 levels, going forward. Please note that prices should...
The EURUSD continued pushing higher yesterday as expected, printing highs at 1.1500 levels before retracing lower again. We still remain optimistic about the Wave Structure presented on the 4H chart view here. It is indicating that EURUSD could be underway to unfold into a flat A-B-C. If this structure stays, we could see the existing rally continue higher towards...
The hourly chart presented here is indicating that Dow Jones could be into wave C rally of the projected A-B-C corrective rally that began from 24100 levels, on October 29, 2018. Believe it or not, the corrective rally has unfolded and is progressing pretty as projected earlier and resistance might be strong around the 25800/26000 levels going forward. It would be...
We have brought up a 4H wave structure of Gold again, to have a medium term outlook. Please note that since printing lows at $1160 levels, the yellow metal has unfolded into an A-B-C corrective rally, and is within the last leg of potential Wave C termination around $1250 levels (fibonacci 1.271 extension of Wave A). Furthermore, if prices were to attain fibonacci...