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AUDJPY - NeutralAUDJPY currency pair appears to be locked in an indecisive range between 79.606 & 77.753 cluster zones. Our outlook is neutral at the moment but might provide opportunities for range traders. Current price action warrants further observation in candle behavior as a daily close that completely engulfs previous day's candle (reverse hanging man) or a daily close near its terminus, might open up opportunities to the bottom of the range at 77.753 cluster zone. However on the upside, a daily close above 79.606 cluster resistance zone should provide a healthy target focus on 82.272 over several weeks of bullish strength. Happy Trading!! www.trading-equity.com www.facebook.com
by magbrr
AUDUSD LongThe AUDUSD is tracing out what appears to be the finishing stages of a downward move. Downward momentum appears to be finishing and our bias is largely bullish for the pair. However current downward move could still stretch to as low as 0.70191/0.70137 cluster zone. At this zone we expect to see strong buy orders enter the market if not before. However, the bullish case shall be completely enforced if downward sloping blue dotted trend line as shown is penetrated at daily close. On daily close above downward trending blue dotted line, next target will open up in the 0.76690/0.76031 resistance zone. Happy Trading!! www.trading-equity.com www.facebook.com
Long
by magbrr
SQM: Long term potential gains are astronomical...I think $SQM presents investors with massive reward to risk ratios here. Downside is minimal, whereas potential upside is huge. Prices can climb up to $281, in case of a quarterly uptrend, and eventually reach prices as high as $1841.65 over time, whilst paying a hefty dividend as well. Electric vehicles are a huge source of ever growing demand for lithium, and $SQM is in a prime position to benefit from this trend. There's also the possibility of funds starting to accumulate shares, as new players enter the electric car battery metals ETF market. Best of luck, Ivan Labrie.
NYSE:SQMLong
by IvanLabrie
1
IYR Elliott Wave Analysis: Pullback can Provide Buying ChanceHello Traders, In this Elliott Wave Analysis, we will have a look at the Real Estate ETF (IYR). IYR ended the cycle from 03/23/18 (72.71) low at the peak of 07/06/18 (82.20) in blue wave (3). Below from there, the ETF ended the correction from 07/06/18 (82.20) peak in blue wave (4) at 79.23 low. Up from there, it broke already to new highs, confirming that the next extension higher has started. Near-term IYR ended the correction from 07/06/18 (82.20) peak in blue wave (4) at 79.23 low. The internals of blue wave (4) unfolded as Elliott Wave double correction which ended red wave W at 07/18/18 low (79.76), red wave X pullback at 07/19/18 peak (81.26) and red wave Y of blue wave (4) at 07/25/18 (79.23). Up from there, the ETF ended the cycle from 07/25/18 low in red wave A at 08/06/18 (82.50) peak. The internals of that move unfolded as a leading diagonal where it ended black wave ((i)) at 07/26/18 low (81.01), black wave ((ii)) pullback at 07/30/18 low (79.24), black wave ((iii)) at 07/31/18 peak (81.51), black wave ((iv)) at 08/01/18 low (80.15) and finally black wave ((v)) of red wave A at 08/06/18 peak (82.50). The ETF is currently in the progress of correcting the cycle from 07/25/18 low (79.23) in 3-7 or 11 swings in red wave B. Near-term focus remains towards 81.03-80.81, which is 100%-123.6% Fibonacci extension area of black wave ((w))-((x)) to end red wave B pullback. Afterwards, the ETF is expected to find buyers for red wave B higher ideally or should do a 3 waves reaction higher at least. We don’t like selling it into a proposed pullback as the right side remains to the upside.
AMEX:IYRLong
by Elliottwave-Forecast