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The double three pattern in wave c (green) is either completed or is about to complete as the market is in the last stages of this cycle. The projected target for the green wave c of this correction is at the level of 120.88 (technical support). The alternative count suggests the top for the purple wave 3 is in place already at the level of 124.08, so the current...
Price is approaching our selling area as expected. We remain bearish below 86.08 resistance (Fibonacci retracement, recent swing high resistance, Fibonacci projection), expecting a push down to 85.04 support in the short term. Stochastic (21,5,3) is seeing major resistance at 91%. Sell below 86.08. Set stop loss at 86.44 and take profit at 85.04.
The NZD/USD pair remains bearish below 0.7143 resistance (Fibonacci retracement, horizontal resistance). We expect a drop to at least 0.7045 (Fibonacci retracement, Fibonacci projection, horizontal overlap support). Stochastic (21,5,3) is seeing strong resistance at 95%. Sell below 0.7143. Set stop loss at 0.7178 and take profit at 0.7045.
USD/JPY's fall last week confirmed topping at 118.65. Price actions from there is expected to develop into a corrective pattern. Deeper fall is expected as long as 116.86 resistance holds to 38.2% retracement of 98.97 to 118.65 at 111.13. At this point, we'd expect strong support from there to contain downside and bring rebound. Above 116.86 minor resistance will...
EUR/USD's rebound from 1.0339 extended higher last week. Break of 1.0652 resistance indicates bottoming. Initial bias stays mildly on the upside this week for 1.0872 resistance and possibly above. On the downside, below 1.0453 minor support will turn bias back to the downside for 1.0339 support. Break there will extend the larger down trend towards parity.
In the...