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Gbp-cad

EURUSD short term rally due towards 1.1650/1.1700 levels?The EURUSD finally dropped as expected and discussed earlier towards 1.1350 levels, to test fibonacci 0.618 support, before bouncing back. It is trading at 1.1380/85 levels at this point in writing, and could be preparing to push higher any time soon. Please note that immediate support could be noted as today's intraday low at 1.1342, followed by 1.1270 and 1.1213 levels, while resistance is at 1.1500 levels going forward. Looking at the higher degree wave counts, it remains intact with (A)-(B)-(C) unfolding as an expanded flat, with Wave (C) in progress at the moment. Ideally, the EURUSD should remain above 1.1213 levels if the above counts should hold to be true, and push higher towards at least 1.1800/20 levels, before reversing lower again. The medium term bullish outlook remains intact 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
2
Gold hits $1280 levels and reverses. Top formed?Gold prices managed to hit above the 100% fibonacci extension of Wave A ($1277), at $1280 levels yesterday. Please note that the lower degree wave counts with Wave C were pointing towards $1270 levels and we have been neutral since then. Also note that we can count 5 waves within Wave C as well, with larger degree fibonacci extension met at $1280 levels. If the above projection holds true, Gold could reverse lower from here and a meaningful top might be in place at $1280 levels. As an alternate though, a consistent push higher could also test up to $1400 levels before reversing. Please note that at this time, the probability of the alternate count is less. Immediate support is seen at $1254 levels and a break below that could be a first confirmation of a probable reversal ahead. We shall remain neutral for now and wait for a bearish reversal and confirmation before initiating short positions. 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:XAUUSD
by FXTM
3
Dow Jones almost terminated Wave iii close to 21800!The Dow Jones plunged over the last 2-3 trading sessions as expected and has almost hit the Wave iii potential target around 21800 levels (the 1.618 extension is pointing towards 21500 levels). The wave structure is looking intact with Waves (1), (2) complete and Wave (3) in progression towards the potential target at 21500 levels as presented on the daily chart here. Immediate resistance is seen at 24000 followed by 24800 levels respectively. It is advisable to remain short for now and look to book profits around 21500 levels as discussed earlier. Maybe a long term bearish reversal has been initiated on the Dow Jones as expected and discussed earlier. Overall, bearish momentum remains but watch out for pullback rallies for opportunities to go short again. 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
Gold prices hit above expected target at $1270 levels!Gold prices exceeded the projected extensions today by pushing above $1270 mark. It is seen to be trading around $1274 levels at this point in time and is expected to find resistance any time soon. Please note that the corrective rally (A-B-C), that had begun from $1160 levels seems to be now complete with Wave C hitting potential targets above $1274 levels. Also note that the higher degree triangle structure (not shown here), also looks to be complete now, with Wave E unfolding into 3 waves A-B-C and terminating around the $1270 plus mark. It is good to remain flat for now, and take all profits on the long positions initialized earlier. We shall be looking to sell on a bearish reversal soon. 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
1
US Dollar Index could face resistance at 97.10/30 levelsThe US Dollar Index is seen to be trading around 96.62 levels at this point in writing and could still push a bit higher towards 97.10/30 levels before reversing lower again. Please note that 97.10/30 levels is fibonacci .618 resistance zone for the recent drop between 97.71 and 96.20 levels respectively. Looking at the recent wave structure, the US Dollar Index is progressing well to unfold as an expanded flat (A)-(B)-(C) correction lower towards 94.00 levels at least. Within the corrective drop, Wave (C) looks to be unfolding potentially into 5 waves now (wave i and ii might be in place already). Immediate resistance is seen through 97.71 levels, while support is just below 96.00 levels respectively. Overall, bearish momentum remains until prices stay below 97.71 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
EURUSD Wave (C) higher into progress towards 1.1800/20With volumes dropping around these times, EURUSD remains more or less unchanged for now and is seen to be trading close to 1.1400 levels. Please note that probability remains for a drop towards 1.1350/60 levels before resuming rally. The lower degree wave counts remain the same with wave iii unfolding since 1.1270 levels. If the above structure holds to be true, we could be witness a rally from ahead of 1.1270 levels towards 1.1700 levels respectively. Immediate price resistance is just above 1.1500, while support is at 1.1270 levels. Overall, medium term bullish sentiment should hold until prices stay above 1.1213 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
1
EURUSD may drop to 1.1360 levels before resuming rallyThe EURUSD raised close to 1.1500 levels last week before pulling back. It is sen to be trading around 1.1385 levels for now and it may drop lower towards 1.1360 levels before resuming its rally. Please note that 1.1350/55 is fibonacci 0.618 support of the rally between 1.1270 through 1.1485 levels respectively. A bullish reaction there would trigger the next rally towards 1.1800 levels going forward.The wave structure remains unchanged, with corrective rally (A)-(B)-(C) unfolding as an expanded flat at a higher degree. At a lower degree, the 3rd of 3rd wave could be preparing to resume from around 1.1350/60 levels. For the above structure to hold good, prices should stay above 1.1270 levels. Overall, EURUSD remains a good candidate to be bought on dips. 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
0.7020 levels need to hold for AUDUSD bulls to stay in controlThe AUDUSD dropped to 0.7030 levels last Friday, before bouncing back. It remain just shy of breaking below 0.7020 levels, defined as interim support and Head of the proposed inverted H&S on the chart here. It is seen to be trading around 0.7060 levels at this point in writing, just in the sell zone of the resistance trendline as seen here. It could still be considered a potential right shoulder being carved out, but prices should remain above 0.7020 levels going forward. The structure might still be considered as Wave 1 (5 waves impulse), followed by Wave 2 (3 waves corrective) which terminated just above 0.7020 levels. Please note that if bulls manage to hold above 0.7020 levels and also break the immediate resistance seen at 0.7150 levels respectively, it could be considered be encouraging for further rally towards 0.7500 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
Gold hits bullish targets at $1266/67. Preparing to drop soon?Gold prices hit $1266 levels last week, hitting the fibonacci 0.618 extension of lower degree waves i through iii as presented on 4H chart view here. Please also note that Wave C, within the corrective rally A-B-C structure might have completed its rally unfolding into 5 waves labelled i to v here. It is quite possible that prices hit $1270 levels before completing the wave counts, but one has to remain cautious on the long side from here on. The upside potential remains limited, while the risk of a bearish reversal is higher. Resistance zone could be seen between $1266 and $1270 levels respectively, while support is at $1232 levels (wave iv termination point). A bearish reversal now, and break below $1232 levels would be the first confirmation that medium term trend has reversed. A safe trading strategy could be to take profits from long positions taken earlier and remain aside. 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:XAUUSDShort
by FXTM
1
US Dollar Index to face strong resistance around 97.20/30The US Dollar Index is seen to be trading around 96.70 levels at this point in writing, and could rally through 97.20/30 levels before resuming lower. Please note that resistance is expected to be strong around above levels since it is also the fibonacci 0.618 of the drop between 97.71 and 96.17 levels respectively. Looking at the wave structure, the US Dollar Index is carving an expanded flat (A)-(B)-(C) lower towards 94.00 levels at least. Furthermore, Waves (A) and (B) are in place already at 93.88 and 97.71 levels respectively; while Wave (C) is unfolding into 5 waves now. At a lower degree, the first wave could be in place at 96.17 and the second wave is expected to terminate around 97.20, before wave three resumes lower. Overall, the US Dollar Index now remains a sell on rallies until prices stay below 97.71 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