Surjeet_Zenawi

Surjeet_Zenawi

With price having consolidated for a fortnight, we expect the impulse to be heavy. Our entry is based on break of trendline and retest as a bullish flag. We are keen to see how it develops against DXY.

Surjeet_Zenawi

We are projecting that this pair is setting up for an impulse a wave (c) or 3. This is further confirmed by the breakout above channel and the reversal at Fib Level. Taking Buy Positions with first Target at the top of (A) or 1

Surjeet_Zenawi

We are waiting for either a breakout above or a bullish flag to join this rally

Surjeet_Zenawi

It is no coincidence that the Dollar Index is stagnating within 5 as investors are looking at the possibility of a weaker Dollar. This calls for aggressive entries on major pairs. Refer to our previous long term analysis.

Surjeet_Zenawi

We hold this view as a long term view for the Cable. An ending diagonal in wave C signified the end of the bearish move and a start of Bullish Impulses, we keep holding long positions. First Target at touch of upper channel, Remember we in major wave 5. Long Term Buy!

Surjeet_Zenawi

It is clear that the dollar is weakening. Traders, let us that this opportunity to buy cheap and hold. We shall sell at the top

Surjeet_Zenawi

Looking at XAUUSD, we can see price bounced off 61.8% fib and is set to fall Traders, we should also acknowledge its correlation with SILVER or XAGUSD which is already falling like a hot meteorite

Surjeet_Zenawi

A reversal is mostly certain if the preceding wave 5 was a diagonal, like in this case. This is high potential move that we can capitalize all the way with short term targets at 61.8% of the previous move.

Surjeet_Zenawi

A beautiful textbook set up in this pair. Price has been rejected by the channel and as it is, that was a correction and the next is an impulse in the opposite direction. Our bearish view is supported by: 1. Weakness in USD as per DXY 2. A potential long term bullish move in EURUSD which is negatively corelated with this pair

Surjeet_Zenawi

In relation to DXY, Euro is gaining strength against USD. In this wave count, we are the very early stages of a long term uptrend as wave 5. If you have any long positions, HOLD. We shall swing them by night.

Surjeet_Zenawi

As discussed earlier, the INDEX was in wave 2 and is now showing that we are starting the bearish wave 3. All this will be in line with the fundamental aspect of the market.

Surjeet_Zenawi

This is an update on the progress of this pair. USD is gaining strength (however short term) and hence we get the opportunity to go short with targets at the lower trendline. This risk is smaller as SL was tight

Surjeet_Zenawi

DXY is the index to look at first before trading any USD pair. Here we are looking at bigger picture and we are just starting major wave 2. Swing Traders will be joining when it ends, however we can capitalize on the short term strength.

Surjeet_Zenawi

An ending diagonal structure is a reversal pattern found in either wave C or 5. In this case it is in wave C. We are shorting wave 5 of the diagonal while being keen on Fibonacci Level and the lower trendline of the diagonal

Surjeet_Zenawi

We have seen price bounce off 61.8% and now a breakout below trendline. We have the second entry and we will keep shorting until we touch the lower trendline.

Surjeet_Zenawi

DXY has since completed a corrective wave and is set to start WAVE 5. This is our opportunity to catch the impulses on USD pairs