EURUSD bounced off the 1.1700 mark, close to fibonacci 0.50 of the rally between 1.1610 and 1.1830 respectively. As discussed earlier today, possibility remains for a push towards 1.1850-1.1900 zone in the next few trading sessions. Short trend might turn bullish against 1.1610 but bears are expected to be back again ahead of 1.2010. Remain short, add more...
EURUSD had hit 1.1830 day before yesterday and reversed sharply lower to 1.1730. The currency has either managed to terminate wave ii of 3 or is still unfolding its corrective rally from 1.1610 levels. If the former count is correct, we should see prices dropping below 1.1610 in the near term. Alternately, if bulls are back from 1.1680/90 zone, it could push...
GBPUSD has been working on its counter trend rally and managed to hit fibonacci 0.50 retracement around 1.3070/80 mark. It might have completed minimum requirement for a corrective wave but probabilities remain for another push through 1.3175 before finally reversing lower again. A drop below 1.2850 confirms a top in place. Remain short, add more @ 1.3175, stop @...
US Dollar Index most likely looking to form a bottom around 92.80/90 mark before resuming higher again. High probability wave counts remains that of a flat 3-3-5 structure unfolding since 91.75 lows earlier. If correct, prices stay above the 91.75 mark and could potentially reach up to 96.00 and 98.00 in the weeks to come. Remain long, stop below 91.75, target is...
EURUSD bulls might be poised to push through 1.1850, which is fibonacci 0.618 retracement zone of the entire drop between 1.2010 and 1.1610 respectively. The most probable wave count is as follows: the drop from 1.2010 through 1.1610 was corrective a-b-c. The proposed rally towards 1.1850 also looks corrective a-b-c, with wave c unfolding. Quite possible that...
EURUSD had pushed through 1.1830 handle on Friday. The probability of pushing through 1.1850 remains high, before bears are back in control. Also note that 1.1850 is the fibonacci 0.618 retracement of the drop between 1.2010 and 1.1610 respectively. A bearish turn there could, reverse sharply lower towards 1.1500 and 1.1160 respectively. Remain short for now,...
US Dollar remains a buy on dips candidate until 91.75 holds well. The indice might push higher towards 94.00/20 before reversing lower through 92.90, which is fibonacci 0.618 retracement of the entire rally between 91.75 and 94.75 respectively. Bulls are expected to remain in control until 91.75 is intact. If Wave 3 is extending, prices should stay above 92.70...
EURUSD remains a sell on rally candidate, specifically around the 1.1850/1.1900 handle. Looks like either Wave 3 is in progress and extending or a down gartley is unfolding and could push through 1.1850/1.1900 handle. Either way, EURUSD is bearish until below 1.2010. Remain short, add more @ 1.1850/1.1900, stop @ 1.2010, target @ open. Good luck!
Gold seems to have completed impulse drop between $2075 and $1848. Ideally, a corrective rally should unfold towards $1990 mark, the fibonacci 0.618 retracement of previous drop. If a zigzag is underway, we should see the rally accelerate above $1920 until $1848 remains intact. Flat for now, looking to sell higher @ 1950/90 Good luck!
GBPUSD might be still working on a Wave 2 or B which terminates above 1.3000. A lower degree wave b could be in place at 1.2840/50 yesterday. We are still in a counter trend probably and short rallies remain possible until 1.2675 is intact. Corrective waves might take time to unfold and test a traders' patience. Might be good to sell @ 1.3175 towards the major...
US Dollar Index broadly remains under control of bulls until above 91.75 mark. The index has found support around 93.34, just below fibonacci 0.618 retracement of the rally between 92.70 and 94.75. It could be unfolding as a lower degree wave iii of 3 or Wave 5 within a leading diagonal or still unfolding Wave B within a flat. Either way, 91.75 holds key for bulls...
EURUSD has been offering various counts: 1. Lower degree wave ii of 3 is in place at 1.1800 and that wave iii could resume anytime lower below 1.1600 mark. 2. A leading diagonal underway towards 1.1500 3. Wave B of a 3-3-5 flat structure is underway from 1.2010. We remain prepared to add more around 1.1850 handle but bears are in control until below...
GBPUSD had reversed sharply from 1.3000 handle yesterday, in line with expectations. Believe it or not, it could be too early to presume that GBPUSD is topped out. Potential wave counts suggests it might be carving a Wave 2 before resuming lower again. Further, lower degree Waves a and b might be in place ans Wave c ready to push higher through 1.3175 mark....
US Dollar Index carved a higher low around 93.40 levels yesterday, in line with expectations. If lower degree wave ii is in place, we should see US Dollar Index exceeding 94.75 mark going forward. Alternately, if prices reverse from 94.20, possibility remains for a push lower towards 92.80 before the rally resumes. Either way, expect US Dollar Index to push higher...
EURUSD broadly remains bearish against 1.2010. It remains to be seen whether bears are able to push lower from here or after rallying towards 1.1850 zone. If a zigzag is underway from 1.1610, we will see a push towards 1.1850 before major reversal towards 1.1500 and further. Alternately if Wave ii of 3 is in place at 1.1800/10, EURUSD is about to break below...
GBPUSD has hit fibonacci 0.382 retracement of the entire drop between 1.3500 and 1.2675 respectively. If it has completed a flat, the currency should lower below 1.2675. Another valid count is that it might have carved a lower degree wave a within a zigzag. In that case, we are looking higher towards 1.3200 handle after a slight dip through 1.2880. Remain short,...
US Dollar Index continues to probe its support zone around 93.40/50 levels. The index might have terminated potential Wave 4 in case of a leading diagonal underway OR might be carving lower degree wave ii of 3 around 93.40 mark. Either way, looking higher until above 91.75 mark. Remain long, stop @ 91.75, target is open. Good luck!
EURUSD almost hit the 1.1800 handle yesterday. High probability remains for a bearish resumption from here. A break below 1.1740 would confirm that the next big move is lower from here. Bottom line, EURUSD should hold below 1.2010 mark going forward. Remain short, stop @ 1.2010, target is open. Good luck!