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Aud-chf

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
US Dollar Index resistance seen at 96.60The US Dollar Index has managed to break above 96.16 levels yesterday, printing fresh intraday highs at 96.54 levels before pulling back. Believe it or not, the medium term structure still looks constructive and encouraging for bears to take control, until prices stay below 97.00 levels going forward. Looking into the wave counts, a probable wave A terminated at 93.80 and wave B is being carved out around 96.50/60 levels at this point in time. Immediate price support is seen at 95.40 levels and a break lower would confirm a meaningful to top in place. Also note that prices stay around the fibonacci 0.786 resistance zone at this time and could see a bearish reaction. 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
EURUSD medium term structure remains intact !In spite of the fact that EURUSD dropped below 1.1432 interim support yesterday, the medium term wave structure looks constructive for the bulls to take over. Please note that we would focus on 1.1300 levels to hold in the next few trading sessions and watch out for a lower degree rally (5 waves) to confirm a bullish stance, against support at 1.1300 levels. Looking into the counts, the most probable could be an a-b-c A and a-b-c B wave, probably complete. Furthermore the fibonacci 0.786 support zone is just seen passing through the price action at the moment. Immediate price resistance is at 1.1620 for now and conservative strategy would be to allow break above that before buying dips. Ideally, a lower degree impulse could be a better entry point. 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
1
Dow Jones Wave (1) lower complete ?The Dow Jones Industrial Average dropped by almost 2% yesterday, towards 24800 levels, before pulling back sharply. It is seen to be trading around 25200 levels at this point in writing and might have possibly terminated its impulse drop (5 waves) from 26930/50 levels. As an alternate count, wave v could be unfolding as a diagonal, and terminate below 24800 levels before producing a meaningful corrective rally. Please note that is prices manage to push above 25600 levels, which is immediate price resistance, it could confirm that a meaningful bottom is in place around 24800 levels. Overall, the bearish impulse is either complete at 24800 levels, or is very close to completing and hence we are changing our stand from bearish to neutral 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.
DJ:DJI
by FXTM
1
Gold progresses in Wave C. Potential target $1250/70Gold took off its rally after finding support at $1216 levels earlier and drifting sideways/consolidation. The yellow metal reached close ($1240) to our first projected soft target at $1250 levels yesterday. Looking into the wave structure, as Wave C progresses, it looks to be the last leg at the moment and one can expect yet another high before a meaningful retracement or pullback. Immediate price support is at $1220.00 levels for now, with the yellow metal trading at $1231/32 levels at this point in writing. We can expect $1250 levels, until the $1220 support holds well. It is advisable to book profits around $1250 levels if reached and we shall look into probable scenarios later. 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 remains a bit vulnerable holding 96.16 for nowThe US Dollar Index has tested 96.16 levels again yesterday before pulling back. It could be forming a potential wedge and might push above 96.16, towards 96.50/60 levels before turning bearish again. However a failure to break above 96.16 levels, could trigger a huge sell off from current levels towards Wave C lower (93.80). Immediate price support is seen at 95.50 levels for now and a break lower would be a minimum requirement to confirm bearish momentum. Overall, we still maintain a medium term bearish outlook until prices stay below 96.16 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.
TVC:DXYShort
by FXTM
EURUSD Wave C still being carved out. 1.1432 levels criticalThe EURUSD short term story seem to be suggesting that a triangle could be unfolding as Wave 2, within proposed Wave C rally towards 1.1850 and higher. This looks like the most probable count for now and if this should hold, we could see wave e termination of triangle any moment now before prices break above the 1.1500 levels again. Please also note that prices would not break below 1.1439 or 1.1432 levels for the triangle structure to remain intact. On the alternate side, a break below 1.1432 levels could see a drop towards 1.1350 levels before it hits a fibonacci support again. Overall, bullish structure remains intact till prices stay above 1.1432 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.
Long
by FXTM
EURUSD bulls still hold above 1.1432 levelsThe EURUSD bulls struggle to hold gains repeatedly for now around the 1.1600 mark, but are still holding above 1.1432 levels, critical support. This price action is keeping the structure intact for now and we would still maintain medium term bullish stance until prices remain above 1.1432 levels. A probable wave count after Wave B termination at 1.1432 levels earlier could be indicating that a iii of 3rd wave within the probable 5 wave structure for Wave C could be unfolding. If the above wave counts hold true, we could see prices rallying sharply towards 1.1620 and higher levels. On the alternate side, a break below 1.1432 would invalidate or delay the proposed rally. 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
1
DAX could drop towards 10200 levels, medium termDAX is seen to have formed an interim resistance at 11800/50 levels at this point in writing, and till prices remain below that, one could expect 11300/50 levels soon. Please note that DAX had dropped below its intermediary trend line support earlier, and in the past two trading sessions have tested its past support around 11800/50 levels as well. The immediate result could be a drop towards 11300/50 levels since it is seen at the 100% fibonacci extension support of the primary drop between 13600 and 11800 levels respectively. We would suggest initial soft target as 11300/50 levels, before a meaningful retracement could take place. 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.
XETR:DAXShort
by FXTM
1
Gold consolidation continues, $1213/16 still possibleGold prices are producing a complex corrective wave structure, it seems. A short term wave count can be labelled as such: The rally between $1181.5 through $1232 levels, can be labelled as 1 (since it moved into 5 lower degree waves). The drop since then, looks to be corrective till now and cold be producing a 3-3-5, flat wave structure, which has been labelled as A and B, until now. If the above wave counts and structure holds well, we could witness a drop towards $1213/16 levels, (which is also past resistance turned support), before the rally resumes. On the flip side, a push above $1232 levels, would trigger another rally towards $1250/70 levels at least. 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