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Dow drops 400 points. Wave v into play ?Dow Jones story continues to unfold as discussed yesterday as the indice drops around 400 pints from 25800 levels. We again present the probable wave counts for hourly chart which could be suggesting that Dow is unfolding its lower degree wave v at this point in time. If the above counts hold true, we could see prices dropping lower towards 24500 levels at least. Please also note that the next support in line is at 24000 odd levels, and it would not come as a surprise if bears drag prices lower towards the same. Overall, the short term story remains bearish with potential target at 24500 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.
DJ:DJIShort
by FXTM
3
US Dollar Index tops out at 96.00 ?The US Dollar Index popped up by a few points above the resistance zone 95.60/80, and touched 96.00 levels before pulling back. The story still remains constructive for bears, till prices stay below 96.16 levels going forward. Looking into the medium term wave counts, the US Dollar Index could be on its way towards 93.80 and lower levels as Wave C progresses. Also note that short term wave counts are suggesting that a lower degree wave i and ii might already be in place at 94.80 and 96.00 levels respectively. An alternate count could be a re-test of 96.16 levels, before giving in to bears again. Overall, the medium term bearish structure prevails 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
5
EURUSD ready to resume rally 1.1500/30 bounce likely!The EURUSD pair printed 1.1620 level highs yesterday before pulling back sharply. The said currency pair has made intraday lows below 1.1550 today and is seen to be trading around 1.1555 levels at this point in writing. Looking into the short term wave counts, a lower degree impulse wave seems to have completed between 1.1432 and 1.1620 levels. It is being retraced at the moment, and could test 1.1530 or 1.1500 levels before finding support again. The EURUSD is probably working its wave ii (not labelled here), within the 5 waves rally expected to unfold as Wave C progresses. The projected target could be 1.1850 and higher towards 1.21/2200 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
5
EURUSD Wave C in progress towards 1.2The EURUSD hourly chart is suggesting that a meaningful bottom could be in place at 1.1432 level last week and that the currency pair could be now progressing into Wave C higher. Looking at the medium term wave structure, EURUSD has remained in control of bulls since 1.1300 levels earlier. It seems to have completed Waves A and B and Wave C could proceed higher towards 1.2 or even higher in the coming weeks. At this point in time, it is retracing a bit after posting an impressive 180 pips rally in the last two trading sessions. We maintain our bullish bias against 1.1432 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.
Long
by FXTM
7
USDCAD Approaching Resistance, Prepare For A ReversalSell below 1.3097. Stop loss 1.3152. Take profit at 1.2977. Reason for the trading strategy (technically): USDCAD is approaching its resistance at 1.2977(61.8% Fibonacci extension, 61.8% & 50% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.2977 (61.8% Fibonacci retracement, horizontal overlap support). Stochastic (89, 5, 3) is approaching its resistance at 99% where a corresponding reversal is expected.
Short
by theforexarmy
US Dollar Index carving a complex corrective Wave B?The US Dollar Index hourly chart continues to consolidate between 94.40 and 95.60 levels for now. The index is trading around 94.90 levels at this point in writing and could drop to 94.75/80 during intraday, before turning higher again. Please note that structurally, the US Dollar Index would require to break below 94.80 and 94.40 levels to confirm that a meaningful top is in place at 95.70. Looking at the wave count, the US Dollar Index might be still carving out a more complex Wave B than expected earlier. Please do not be surprised if the index produces a snap rally towards 95.70/96.00 one last time before giving in to bears. 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
Dow Jones potential op in place at 26150 levels ?Dow Jones daily chart view has been presented here again after few trading sessions. Looking at the wave structure, the indice could be still working on a potential flat A-B-C at least. Please note that Dow has remained almost unchanged since past few trading sessions and could be possible that a potential top is in place at 26150 levels. Also note that a standard flat structure would remain valid till prices stay below 26600 levels going forward. A safe trading strategy could be to remain short from here, with risk at 26600 levels. If this wave structure holds well, we could see a sharp reversal lower towards 23000 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.
DJ:DJIShort
by FXTM
2