About meAn active trader and a professional capital market technical analyst doing analysis in Currency, Commodity and Indices since past 6 years. I also provide trading strategies and manage portfolios of clients.
Dollar Index is gradually inching higher making overlapping structure. Looking at the ongoing structure and its reversal from the 98.34(25th Apr'19 high) there are 2 possible counts.
In the preferred scenario(Red Line), prices are likely to find support around 96.50 on further weakness and witness a sharp reversal towards 98.66 ahead of any significant fall.
The pair is unfolding within a downside impulsive wave and is presently in its Wave 5 which is likely to hold above 1.1120 on further weakness ahead of a significant recovery towards 1.20 in the coming 3 to 5 months and turn weak towards 1.06 in the subsequent months.
The pair is likely to extend gains towards 1.6580 by holding above 1.56 in the coming weeks ahead of turning down for long term. An early fall below 1.56 shall negate the immediate upside potential and turn the sentiments mixed for medium term.
The pair is likely to extend gains towards 1.1250 by holding above 1.0720 in the coming weeks. 1.1250 is a crucial resistance level to watch out for as a sustained breach above the same shall pave the way for the resumption a new bullish trend for long term.
The pair is likely to extend gains towards 90.00 and above in the long term. In the medium term, prices are likely to extend gains towards 87.60 by holding above 80.50 ahead of a pullback and then continue to extend gains towards 90.00 and above in the subsequent months.
The pair is trading within a bigger sideways corrective structure since July'13 which is likely to continued in the coming weeks. 0.9370 is a crucial support level to watch out for as a sustained breach below the same shall prompt further weakness in the long term.(Red Line projection)
If the support of 0.9370 holds then another upside pullback towards 1.03 is...
Gold prices have turned down sharply holding below 1365 and traded mixed within 1335 to 1315 during its last trading week.Going ahead, further mixed price action within 1342 to 1312 are likely to be seen ahead of turning further weak towards 1300/1290 ahead of resuming the underlying bullish trend in the coming weeks.
The pair has bounced back sharply holding above support of 1.2520 during its prior week and are seen consolidating. Going ahead, further consolidation within 1.27 to 1.2930 are likely to be seen ahead of extending gains towards 1.31 and above in the coming weeks.
The pair is unfolding within a flat corrective structure and is in its last leg. Going ahead, on further weakness prices are likely to hold above 1.36 and turn higher towards 1.47 in the coming months ahead of turning down for long term.
The pair traded on a weak note since past 2 trading weeks as was projected in my previous update. Going ahead, prices are likely to resume its bullish trend towards 1.28 in the coming months.
Note that, an early fall below below 1.1960 shall negate the above mentioned bullish scenario and prompt further weakness towards 1.1550 hence has to be carefully watched.
The pair is extending gains making higher highs and higher lows thereby keeping the positive trend intact. Going ahead, on further extension of gains prices are likely to hold below 1.2080 and turn weak in the coming week.
The pair bounced back sharply holding above the lower trend line support of the bigger consolidation range and are extending higher. Going ahead, prices are likely to extend further gains towards 1.0780 ahead of any significant pullback in the coming week.
The pair continued to extend higher as was projected in my previous update. Presently prices are unfolding within a corrective pullback which is likely to find support around 82.00 on further weakness and inch higher towards 84.50 in the coming weeks
The pair continued to extend lower making lower lows and lower highs thereby keeping the weak trend intact. However, in short term prices are likely to attempt for a recovery towards 0.9856 ahead of turning weak for medium term.
The pair bounced back sharply after trading weak as was projected in my previous update. Going ahead, prices are likely to gradually recover towards 1.42 ahead of turning weak. Overall the mixed sentiment remains intact.
The pair traded weak as was projected in my previous update. Going ahead, prices are likely to gradually recover towards 1.2380 ahead of turning weak towards 1.2090/70 and then turn higher for medium term.