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Gbp-cad

US Dollar Index hits 97.10 levels. Look lower from here!The US Dollar Index has managed to raise through 97.10 levels, as expect ed and discussed earlier. Believe it or not, the minimum expectations of price action looks to be complete, and the US Dollar Index could resume its drop any time now. Also note that 97.10 is fibonacci 0.618 resistance of the entire drop between 97.71 and 96.20 levels earlier. A bearish reversal here remains probable and bears could be back in control after temporary setback. Looking into the higher degree wave counts, the US Dollar Index is unfolding its corrective drop (A)-(B)-(C) as an expanded flat; with Wave (C) in progress since 97.71 levels. If the above structure holds true, we could see a rapid drop towards 95.00 and 94.00 levels as Wave (C) progresses further. The medium term bearish outlook remains 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 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