The US Dollar Index short term chart might be indicating a dip lower towards 94.70 levels as short term target. Looking at the medium term wave counts, we still remain optimistic of a possibility of an expanded flat A-B-C as shown on chart here. If price action favors the above count, we could see prices dropping lower towards 93.80 at least and also push further...
The EURUSD pair hourly chart might be indicating that bulls could be targeting 1.1620 resistance as immediate shot term target. Looking at the medium term wave count, we still favor a potential flat structure to unfold, which could push prices at least towards 1.1830 levels if not further. Please note that Wave C, which began from 1.1302 levels last week could...
Gold prices are seen to be taking time to unfold but the structure remains constructive for bulls to push through $1252 levels as highlighted on the hourly chart. The 61.8% fibonacci extension of waves i,ii and iii within Wave C is pointing towards $1252.00 levels, where a bearish reaction could be seen. To remind of the medium term wave structure, Gold is...
We had discussed early last week (Oct 29), that Dow Jones is close to completing its 5 wave decline from 26950 levels and a short term corrective rally could be underway any moment. Looking into the price action so far, it seems that the indice has already completed its first wave of the proposed corrective rally at 25600 levels. If the correction is unfolding as...
There is no change from what was discussed yesterday in the US Dollar Index. A potential lower top could be in place at 96.70 levels for now and prices could reverse quite sharply from here. Looking at the short term wave structure, a lower degree wave i and ii seem to be now in place as labelled on charts. Please note that a complex corrective structure might...
The hourly chart for EURUSD continues to remain constructive for bulls. Prices bounced off 1.1360 levels yesterday as discussed as potential support and it looks like a corrective drop could be complete from 1.1450 levels. Please also note that 1.1360 is the fibonacci 0.618 support of the rally between 1.1302 through 1.1450 levels earlier (not shown here). Looking...
The hourly chart for US Dollar Index is suggesting that the index could have formed a major top at 97.20 levels last week and could be accelerating lower towards 94.70 and further. Looking into lower degree wave counts, wave i and potential wave ii seem to be in place at 96.00 and 96.60 levels respectively. Please note that wave ii could print slightly higher than...
The AUDUSD currency pair has now surpassed out minimum expectation of 0.7200 levels, printing higher at 0.7260 levels before pulling back. It is seen to be trading around 0.7195 levels at this point in writing, and could push higher towards 0.7272 (38% extension level) or 0.7328 (61.8% extension) as projected here. Looking into the short term wave structure, the...
The EURUSD hourly chart is suggesting that Wave C could be ready to accelerate soon. The currency pair is seen to be trading around 1.1394 levels at this point in time, ready to push through resistance above 1.1620 levels soon. Looking into lower degree wave structure, the rally from 1.1302 through 1.1455 last week may be wave i and the recent drop could be...
The compressed view of hourly chart for Gold is suggesting that it could be ready to push through fresh highs at $1250/70 levels. Please note that the yellow metal is possibly into Wave C at this point and furthermore it is into the 5th wave, within Wave C as shown here. Intermediary resistance could be seen at $1244/45 levels but the metal could eventually break...
Finally, the EURUSD price action confirms a potential bottom formation at 1.1302 levels, just shy by 1 pip of the past swing lows. The 4H chart wave structure also looks good with Waves A and B complete and Wave C rally resumes from 1.0302 levels. The EURUSD is seen to be trading around 1.1425 levels for now, and looks to have completed its first impulse wave at a...
Finally, the US Dollar Index reverses from the projected resistance zone between 97.00/20 earlier. Looking into the 4H wave structure, the index is seen to be unfolding into a potential expanded flat labelled as A-B and C lower now. Please note that resistance could be strong around 97.00/20 levels going ahead and Wave A is in place at 93.80, followed by Wave B in...
Gold, medium term structure remains unchanged for now, as the yellow metal raises past $1230 levels yesterday. The yellow metal is seen to be trading around $1232 levels at this point in writing and seems to be already on its way towards $1250/70 levels as discussed earlier. Looking into the 4H wave structure, the metal is into its proposed Wave C rally since the...
The AUDUSD progressing well within Wave C rally as expected and has exceeded the fibonacci 1.618 extension as shown here. Believe it or not, the third wave is the largest and fastest moves within an impulse wave (Wave C here) and it could also be an extended wave at time. In case of AUDUSD and extended third wave could be in the making which could push Wave C to...
The 4H chart view has been presented today, keeping in mind November and December series. The EURUSD reversed yesterday from 1.1302 levels, just 1 pip higher than the previous swing low at 1.0301 levels and this keeps the medium term structure as a standard flat unfolding. Also, we maintain our medium term bullish outlook. Now, let us have a look at the time each...
The US Dollar Index 4H chart view has been presented here to have a larger wave picture lasting for several weeks to follow (8-12). The index most likely topped at 97.20 levels yesterday, terminating Wave B of a potential expanded flat which could be unfolding. It is seen to be trading around 96.80 levels at the moment and Wave C could be on its way lower. If the...
Gold reverses from $1212 levels yesterday, bouncing from around 50% retracement of the rally between $1182.50 and $1245.00 levels respectively. Please note that it is also a convergence of the past resistance turned support zone . Furthermore, with prices reversing above $1208 levels, the yellow metal also keeps the impulse wave structure within Wave C to remain...
The AUDUSD 4H chart view presented here is suggesting that an expanded flat wave structure, discussed earlier remains intact with potential Wave B termination seen at 0.7020 levels. Furthermore, it looks like the Aussie dollar could be unfolding its wave iii of a lower degree at this point in time and potential remains through 0.7200 levels as first target. The...