In my view, the eurusd should fall without any contradiction soon. Very near the resistance zone, and the sentiment measurements show extreme euro bull(up to 80% euro bulls) which makes me very cautious. But on the other hand, the falling from the middle of June is a corrective 3-wave pattern ending with a diagonal in a parallel channel which is about to break...
After the coronavirus shock, the GBP has made its upward correction. The structure is clear, three-wave Zigzag. The C wave was weaker then the wave A. Rising channel's middle zone was strong resistance, this sign supports the pound bearish view also. So waiting for the breakdown the channel up to 1.20 - 1.21 where the next support lies. It would be lucky if...
I said in the related idea "finding the bottom in the green support zone and then the coming break out upward", so the gold found its support in the green zone. Now Wait for the breakout and rising continuously. Next target lay at 1765 but I expect to trade above 1800. Let's see the momentum. I would not like to see gold below 1670, but not I can say that the...
The key zone is around 10 - 11.000. This is what I called as a bull trap in the related idea and the situation is absolutely the same. So I expect one more upside movement to the trap zone, what's more, I would like to see even a failed breakout, and then after a huge reversal. Before this, the falling channel should break upward and then open the space for...
As I was expecting an island retest in the related idea, now here it is. In the bearish view, the rising correction objective is at 3200. So bull come back after a Flat correction A-B-C sideways movement. In the bullish view, the rising trend should trade above 3235 and reach 3400 or go to a new high. Below 3074 the bull will be failed in this round and further...
Oil reaches the upper line of the channel with an impulse wave. The structure seems ready so I expect to see a downward reversal again as well in the related Getting weaker idea. The decline could be huge from here. I would not like the oil to trade above 40$!! then new high would come around 41 - 43$
Very bad news for the Spanish market, an island reversal(in the red circle) remain valid then the further decline will come and continuing pressure should lead the price near 6400. In this bearish view, I expect to see today gap remain open!
Weak correction, just only 0.5 Fibonacci level. Performed well below SP500(blue line). With this momentum, the next support zone will be at 120 near the COVID low.
On the weekly chart shows the trend is down and the horizontal support zone is backtested. In the daily chart shows that this backtest was in corrective style with choppy waves in a flat rising channel. On the 4H chart there is an impulse decline and break out of the channel not to mentioned that there was a breakout back also. So backtest of the backtest is...
I was fairly bearish in the related ideas(Head and shoulders and the opening optimism), and I can say that nothing has changed in my longer-term view, but the Friday closing and the complete five-wave impulsive structure(Elliott wave) not to mentioned the bullish divergence in the MACD(TimeFrame 15M) will create three-waves upward correction. This correction...
Although the falling channel has not broken yet. I expect to see finding the bottom in the green support zone and then the coming break out upward. Gold must not go below 1670! Waiting for bottoming and after an upward pressure
In the 'coming bedtime for GBP' - related idea, I have expected an upside pressure which is here. 'Near the resistance' - idea, I forecasted a stop in the rising. EURGBP has been moving sideways from that time and the q. is what's next. Although it trades above wave B with five-wave impulse, but the structure seems complete, that's why I expect to see a declining...
In the Head and Shoulders related idea I visualized my trading so I am not an independent analyst at the moment. A rising correction is ongoing at the moment in a Zigzag pattern. I would like to see it will get stuck around the .382 Fibonacci level and the next round will be down. Trading above 3140 will weaken but not eliminate my forecast. So today's opening...
'Dive in the deep' related idea I expected to see a huge falling. It has happened. Now here is the first momentum of a correction. Maybe a good Elliott Zigzag. The Fibonacci support zone should work well and I would like to see a clear correction pattern. Waiting for these signs
A reversal pattern has been built on the top of the S&P500 chart after an impulse wave rise. Now a breaking out is on the way and it should go down forward beside that not to allowed moving above right shoulders. We are very close to Fed decision so maybe the breaking out is too risky but the rising correction will create the next higher probability...
The gold is consolidating on the upper line of the channel in a sideways movement. Maybe a Flat correction is underway. So I expect the next movement will be up above the previous high 1764 beside that not to trade below the middle line of the channel. The ideal target of this falling correction is around 1710 - 1720. After a clear correction pattern and breaking...
In the Getting weaker related idea I visualized my trading so I am not an independent analyst at the moment. A rising correction is ongoing at the moment in a Zigzag pattern. I would like to see it will get stuck around the .382 Fibonacci level and the next round will be down. The fifth round target could be around 30 - 32 besides that not trade above 37.80....
Over the top, there had been an impulse falling and a Zigzag correction(maybe this is lower high). Let see a strong momentum downward which go through easily the rising channel. I would not like to see oil on a new high! There is a risky trading plan and more conservative after the channel breaking. Let see the next move. Disclaimer We reserve the right to make...