Looking for market to reject Resistance Level in channel to complete Corrective Wave B. Should we see the rejection we may see the next corrective move to the down side to complete Corrective Wave C. Previous analysis of EURJPY did a similar corrective manner. While it took over 18 days to complete EURJPY eventually completed its corrective pattern please see...
We see market completing several corrective patterns in the down channel. We may very well see a push to the down side after morning formed a reversal pattern (evening star pattern) at key resistance level.
Waiting to see if DXY will reject from the resistance level in the Elliott Wave Pattern. Previous analysis went extremely well. Looking forward to the continuation of the bearish sentiment of the dollar
After completing Waves 1,2,and 3 we now see market forming Wave 4 in the corrective pattern. Once corrective pattern E is confirmed we may see a strong bullish sentiment to target 2110 or higher. This will then complete Wave 5 in the Elliott Wave analysis.
Looking for market to continue to the upside to key target 145.200 which is the monthly resistance level. For long trade looking for market to continue bullish momentum to 194.500 after confirming Wave E in corrective pattern on the monthly timeframe
Waiting for market to reject from resistance level to confirm Wave D. Once Wave D is confirm then Wave E is also confirmed with a Fibonacci Retracement from Wave D then we may see a bullish market to target 1.22000. Therefore we may have a short sell from Wave D to Wave E then a buy from Wave E to target 1.22000 or higher to complete the 5th Wave in the Wave...
We see market forming an Impulse on the monthly timeframe from December 2014 to November 2016. Market now completing Correction from November 2016 to August 2020. It failed to break monthly rejection level closing at Fibonacci Retracement confirming Wave E in the ABCDE corrective pattern. We may see bearish market to target 51.000.
We see market completing waves 1, 2, 3. Two possible things may occur for this coming week:
1. Market may very produce a corrective pattern (ABC, ABCDE) and push to the upside
2. Market may very well be finished with Wave 4 and is now looking to complete Wave 5 by pushing to the upside.
Overall the next target is...