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NZD-CHF

EURUSD carved a lower degree wave ii around 1.1330 ?The EURUSD dropped yesterday towards 1.1327 levels before closing the week at 1.1335 levels. Please note that potential remains for a drop towards 1.1312/15 levels, before resuming rally. Looking into the short term wave counts, it seems that a lower degree waves i and ii might be in place with wave i terminating around 1.1470/75, while wave ii at 1.1327 levels respectively. If the above counts hold true, we could see EURUSD rally up to 1.1650 and further as waves iii, iv and v unfold, within the larger Wave C and highlighted here on the daily chart view. An an alternate, Wave C could unfold into 3 waves as well turning the probability of a triangle. Overall, we maintain our bullish outlook for EURUSD 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
5
EURUSD stays bullish against 1.1213 for nowWe have preferred not to change the time frame or potential wave counts for EURUSD, that we had discussed yesterday. The single currency is seen to be trading above 1.1400 levels again at point in writing, looking poised to continue its rally above 1.1500 levels in the short term and towards 1.1800/20 levels in the medium term. After having produced an impulse drop from 1.2500 through 1.1300 levels respectively, the EURUSD could be producing a 3 wave corrective rally (A)-(B)-(C), unfolding as a potential expanded flat until now. If the above count holds to be true, we could witness an extended rally towards 1.1800 or higher levels as Wave (C) unfolds into 5 waves. A safe trading strategy therefore could be to remain long or initiate fresh longs around 1.1350 levels against 1.1213; with potential targets above 1.1800 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
4
EURUSD needs to clear 1.1500 to confirm further upsideA daily chart for EURUSD has been presented today to have a re-look at the potential wave counts since last several weeks. Please note that EURUSD had dropped earlier between 1.2500 through 1.1300 levels respectively. It probably unfolded into an impulse, 5 waves as labelled here. The most likelihood after an impulse drop was a 3 wave corrective rally. With the kind of price action EURUSD has produced since last several weeks, a zigzag or flat is ruled out for now. It leaves us with either an expanded flat or triangle. Going with the first option for now, EURUSD could be setting up towards 1.1800 levels at least. Also note that a break above 1.1500 levels would instill further confidence on the proposed bullish setup. 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 close to taking out 1.15 levelsThe EURUSD advance continues as expected and it looks that the bulls are close to taking out the first major price resistance at 1.1500 levels. Nothing much changes on the chart presented here except the fact that prices can be seen breaking above the immediate trend line resistance. The EURUSD is now trading around 1.1456 levels and remains just shy of taking out 1.1500 levels. Looking into the wave structure, the ending diagonal presented count remain intact for now with previous wave 4 expected to be taken out. Please note that prices need to stay above 1.1172 levels for this count to remain valid. An aggressive trading strategy could be to remain long with stop below 1.1213 levels and potential targets above 1.1500. The risk reward ratio would not allow taking long positions at this price so one can wait for a corrective pullback before initiating fresh 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.
Long
by FXTM
2
US Dollar Index testing support around 96.15 levelsThe 4H chart presented for US Dollar Index is indicating that unlike its counterpart ( EURUSD), the index is seen to be testing immediate support trend line around 96.10/15 levels. Please note that probabilities could remain high for a continued drop towards 95.65 levels before producing a meaningful retracement/pullback. Looking into the wave structure, US Dollar Index keeps the ending diagonal scenario intact for now. Furthermore, once the previous wave iv is taken out at 95.65 levels, it would be confirmed that a meaningful top is in place at 97.70 levels. The index is seen to be trading around 96.20 levels at this point in writing and bears could be inclined to push through initial price support at 95.65 soon. Any intraday pullbacks should ideally stay below 96.80/85 levels for the potential impulse wave structure to remain intact. Overall bearish scenario prevails until prices stay below 97.70. 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 wave ii of (3) in progress towards 25500/600Yesterday's drop towards 24900 levels might not be the beginning of wave iii yet, and there could be a surprise rally in store. We have added lower degree waves a-b-c, potentially unfolding as wave ii of a higher degree, which could still terminate around 25500/600 levels before wave iii of (3) begins is descent lower. Please note that counter trends might be trick to trade and hence avoid getting into a potential bull trap, if Dow manages to produce a sharp rally from current levels. A safe trading strategy could be to initiate short positions around 25500/600 levels, with stop above 26300 and potential targets at 24000, 23100 levels respectively. The medium term outlook for Dow Jones remains bearish until prices ideally stay below 26300 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
Gold remains on track towards $1250/70 levelsGold remains bullish above $1195/96 levels, with immediate price resistance seen towards $1235 levels. Bulls could be looking to push through $1235/36 levels, before producing a meaningful retracement lower. Please note that the metal should remain above immediate price support at $1195/96 levels going forward and a safe trading strategy could be to buy on dips with stop loss at 1195 levels and potential take profit at $1250/70 levels respectively. Looking at the wave structure, Gold remains into a corrective rally A-B-C with waves A and B already in place at $1210 and $1180 levels respectively. Wave C could be unfolding into an a-b-c or a diagonal towards $1250/70 levels going forward. Overall, medium term bullish structure 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.
FX_IDC:XAUUSDLong
by FXTM
1