JayanVarsani

JayanVarsani

Daily price action has failed to close above the 61.8% fibonacci level for the second time now A double top of sort has formed at this level Given this scenario, it may be likely that we may correct first before pushing back up to the next level Correction target will be ~ $1825 due to its confluence with the 200DMA and 61.8% fibonacci retracement of the...

JayanVarsani

The crypto market has undergone a vast surge in prices with no clear indication of its limit However, Ethereum has clearly been respecting an ascending wedge on the higher timeframe As a result, price with respect to the wedge will be observed and, upon break, a downside target has been identified, namely the 61.8 fibonacci Calling the tops and bottoms are...

JayanVarsani

EUR/GBP has been playing the 4H 200MA for several weeks now and has again reached this support History suggests a long position should be opened due to previous patterns with respect to the indicator Long position opened, targeting the 61.8% fibonacci via a tight stop

JayanVarsani

After an explosive move upwards in the recent weeks, EUR/GBP has retraced and been sold off consequently. It has now reached the 61.8% fibonacci retracement level which is a key zone price tends to reverse at. Furthermore, at this level, RSI has printed bullish divergence on the hourly timeframe. There is therefore sufficient reason to open a long position...

JayanVarsani

Gold reversed from its local top at ~$1875 after hitting the multi-week down-trend line from its all-time high After reversing, price has retraced its downside move and reached the fibonacci 61.8% level This fibonacci level coincides with the downtrend line also, which serves as proven resistance Bearish RSI divergence has been printed on the hourly chart and...

JayanVarsani Updated 

EURUSD, over the last 2 weeks, has consolidated in this area with no real indication of BUY or SELL momentum. This suggests we may consolidate even further over the next few weeks. Since we have yet again reached this level, this could be a low risk area to short, with acknowledgement of a breach and upside breakout. As a result, a short position will be...

JayanVarsani Updated 

EUR/GBP has pushed upwards and retraced considerably after being sold off for the past few months. A strong sell signal has formed via the RSI divergence. RSI has been printing lower highs with price printing marginally higher highs, thus showing waning strength. Stochastic is strongly overbought and crossing over as further confirmation. Macro 0.618...

JayanVarsani

Price has historically found great struggle in surpassing the 1.34-1.35 level over the past 2 years with very profound rejections from this level. Price has topped twice in the last few months as GBPUSD tried to, yet again, breach this level. Current movements suggest that it may be struggling again given wicky price action, pinbars & hammers and other...

JayanVarsani

Descending channel has been observed over the past few weeks with EUR/USD. There is high chance this is consolidation behaviour and the channel could break out to the upside. There is chance for a breakout at the current level as price has reached the top channel however I believe there could be 1 more leg down to the bottom channel and 4H 100MA. Short...

JayanVarsani

Dollar Index has taken a large hit due to the massive level of inflation experienced this year due to monetary covid response. 23.6% of all US dollars in circulation have been printed in the last year alone. Since DXY has crashed and sold off deeply, a sharp reversal may be imminent. At the minimum there could be a sharp move up and whether it sustains and...

JayanVarsani

Gold has begun printing bearish RSI divergence on the 1H timeframe which is a strong indication of imminent downside movement. Sell position opened and awaiting selling pressure with a downside target of the 0.618 fibonacci retracement at $1800-$1810.

JayanVarsani

Gold has been respecting the descending channel for some time now and we have approached the top of the channel. Gold could either reverse back down and consolidate before breaking out upwards or potentially power straight through. As a result, a short position is placed with a tight stop should gold push through and breakout of the channel.

JayanVarsani

Gold eventually gave way last week after consolidating for the past month. RSI divergence is a very strong and reliable indicator and it is showing on the 4H chart. Due to this, I believe we have bottomed locally and I see us moving higher and retracing some of last weeks move as a result.

JayanVarsani

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JayanVarsani

The US Dollar Index (DXY) is behaving very similarly to the 2018 reversal pattern. If price follows this fractal, as it has done to a very close degree, there is potential for an explosive upside move which will disrupt the financial markets namely Major FX pairs, global stock markets, commodities and the cryptocurrency markets.

JayanVarsani Updated 

BTC/USD is mimicking the price action of the last capitulation we had which took us down to sub $4000. I am not insinuating that the fractal will play out exactly to similar depths, but price from a movement/behaviour perspective could very well follow suit, albeit to a lesser magnitude. Fractal looking very healthy and will be observed to continue until...

JayanVarsani

Aston Martin has been on a steep and vigorous decline since its IPO. Could Aston Martin turn things around from here and start reversing from current prices? Aston Martin has recently announced involvement in F1 with Racing Point rebranded as Aston Martin. This could help in turning things around. Billionaire Lawrence Stroll has clear intentions to do so and has...

JayanVarsani

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