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Aud-chf

Gold remains bullish above $1212 levelsGold prices have remained subdued for now by dropping towards $1218 levels at this moment of writing. Believe it or not, the structure still remains bullish till prices stay above $1212.00, going forward. At the same time, please also note that a drop below $1208 could indicate that a meaningful top is in place at $1245 levels and that the metal is looking lower again. Until the above event occurs, we shall remain optimistic about the counter trend rally that began from $1160 levels, to unfold into an A-B-C and terminate Wave C towards $1250/70 levels, going forward. Overall, we maintain our bullish outlook till prices stay above $1212 and broadly above $1208 levels. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
FX_IDC:XAUUSDLong
by FXTM
AUDCHF approaching resistance, potential drop!AUDCHF is approaching our first resistance at 0.7315 (horizontal pullback resistance, 61.8%, 76.4% Fibonacci retracement) where a strong drop might occur pushing price down to our major support at 0.7217 (horizontal pullback support, 61.8% Fibonacci extension, 23.6% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
Gold remains subdued but potential push to $1250 possibleWe have brought up a 4H wave structure of Gold again, to have a medium term outlook. Please note that since printing lows at $1160 levels, the yellow metal has unfolded into an A-B-C corrective rally, and is within the last leg of potential Wave C termination around $1250 levels (fibonacci 1.271 extension of Wave A). Furthermore, if prices were to attain fibonacci 1.618 extension , we could see $1268/70 levels going forward. Intermediary price support is now seen around $1212 levels and prices are ideally expected to stay above that. As an alternate, a drop below $1208 levels could indicate that a meaningful top is in place at $1245 and we might have to change our stance. Overall, bullish potential remains till $1212 is intact. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
FX_IDC:XAUUSDLong
by FXTM
US Dollar Index bears targeting 94.70 at least ?The US Dollar Index short term chart might be indicating a dip lower towards 94.70 levels as short term target. Looking at the medium term wave counts, we still remain optimistic of a possibility of an expanded flat A-B-C as shown on chart here. If price action favors the above count, we could see prices dropping lower towards 93.80 at least and also push further towards 92.50 going forward. The short term wave structure is indicating that a lower top may be in place at 96.70 levels and ideally prices should stay lower. It could be a safe trading strategy to remain short with potential risk/stop above 97.20 and soft target around 94.70 levels for now. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXYShort
by FXTM
US Dollar Index lower top seems to be in place at 96.70There is no change from what was discussed yesterday in the US Dollar Index. A potential lower top could be in place at 96.70 levels for now and prices could reverse quite sharply from here. Looking at the short term wave structure, a lower degree wave i and ii seem to be now in place as labelled on charts. Please note that a complex corrective structure might still push prices above 96.70 levels, but ideally should remain capped below 97.20 levels. The waves are taking time to unfold but if the above structure holds true, we could see prices dropping lower sharply towards 94.70 levels as wave iii unfolds. Overall, we remain bearish until prices stay below 97.20 levels, going forward. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXYShort
by FXTM
Long AUD/CHF break above 110-EMAAussie buoyed after robust trade balance data released earlier today. The antipodean also helped by Chinese Caixin Manufacturing PMI data that managed to hold above the 50.0 critical level. Asians stocks are solidly bid Thursday as China's leadership signaled that further stimulus is being planned to counter the economic slowdown. Technical studies are bullish. The pair has shown a break above daily cloud and we see scope for further upside. The pair is now testing 110-EMA at 0.7178, break above to see upside till 61.8% Fib at 0.7312. Support levels - 0.7145 (38.2% Fib), 0.7095 (55-EMA) Resistance levels - 0.7178 (110-EMA), 0.7229 (50% Fib), 0.7312 (61.8% Fib) Stay long on breakout above 110W SMA, target 0.7230/ 0.7310
Long
by FxWirePro
Dow Jones interim bottom forms at 24430 levels ?Dow Jones Industrial Average might have completed an impulse (5 Waves) drop from 26950 highs through 24430 lows. We had presented on Friday that a meaningful bottom might be in place around 24500 levels but the indice dropped lower towards 24430/40 levels before pulling back sharply. Looking at the wave structure, a potential Wave (1) or (A), could be complete at 24430/40 levels and a corrective rally could be more probable now. Please also note that the subsequent should be corrective and that a much deeper drop is expected in Dow Jones, once the correction is over. Potential termination of the corrective rally could be close to 25,800 levels, before the drop resumes. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
DJ:DJI
by FXTM
1
US Dollar Index top in place at 96.85 ?The US Dollar Index had rallied through 96.85 levels on Friday threatening a break above 97.00 levels but bears seems to have taken control from just a few points below critical resistance at 97.00 levels. The index dropped to 96.30 levels around Friday close and could be preparing to target 96.20 levels, which is initial price support. Please also note that a lower degree impulse wave could be complete now or just below 96.20 levels. Subsequent rallies through 95.50/60 levels could be seen as fresh opportunities to go short again. Over structure still remains constructive for bears, with a probable standard flat unfolding as A-B-C. A potential target for Wave C could be below 93.80 levels and it could also drop further towards 92.00 levels. We maintain our medium term bearish outlook for now. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXYShort
by FXTM
1
EURUSD bottom in place at 1.1330/40 ?The EURUSD pair had dropped to 1.1340 levels on Friday before reversing sharply above 1.1400 levels by close. This could be the first sign of a meaningful bottom in place around 1.1340 levels. It is seen to be trading close to 1.1400 at this point and could be preparing to push towards 1.1433 levels to break the initial price resistance on hourly chart view. Looking into the wave structure, seems like a standard flat A-B-C could be in the making now, with potential Wave A and B in place at 1.1833 and 1.1340 levels respectively. We maintain our medium term bullish outlook for now, with potential price targets above 1.1850 levels. Please note that ideally EURUSD should stay above 1.1300 levels. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
Long
by FXTM
3