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NZD-CHF

Dow could be ready to accelerate towards 23100 levelsThe Dow Jones seems to be working on a lower degree wave ii, within the expected wave (3) of a higher degree as labelled on the chart here. The wave structure remains unchanged with an impulse drop that terminated around 24100 levels, followed by a corrective rally that terminated at 26300 levels earlier, labelled as Waves (1) and (2) respectively. Furthermore, the drop towards 24750 and subsequent rally towards 25500/600 levels could be labelled as waves i and ii respectively. If the above higher and lower degree counts holds to be true, we could witness a sharp reversal lower from sub 25500/600 levels towards 23100 levels, as wave (3) unfolds. Ideally, prices should stay below 26300 levels if the 3rd of 3rd wave is to unfold. 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 long against $1195Gold continues to print higher highs and higher lows since $1195 levels earlier. Please note that the metal had bounced off trend line support and also around fibonacci 0.618 support at $1195/96 levels earlier. Bulls should remain in control till prices stay above $1196 levels and push through $1250/70 levels at least, before deciding further course. Looking at the wave structure, the counter trend rally A-B-C, which began from $1160 levels in August 2018, could be into its last leg with Wave C progressing at the moment. If the above count holds true, bulls would remain in control, holding prices above $1195/96 levels, and push higher towards $1250/70 levels. Please also note that A-B-C corrective rally could be Wave E of a potential triangle unfolding at a larger degree and that prices could reverse sharply lower from $1250/70 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.
FX_IDC:XAUUSDLong
by FXTM
EURUSD seen to be pushing towards 1.1500 for now ?The EURUSD bulls seem to be in control for now and also remain poised to push higher towards 1.1500 levels at least. After having rallied almost 200 pips from last weeks' low, EURUSD is trading above 1.1400 levels for now, very close to the trend line resistance seen on the chart here. Please note, that a push through the resistance line could be encouraging for bulls to target 1.1500 and higher. Looking at the wave structure, we maintain that an ending diagonal might have unfolded as (5) th wave of the impulse drop, that began from 1.2500 levels earlier. If this count holds to be true, we should see prices stay above 1.1172 levels going forward. An aggressive trading strategy could be to remain long from last week against 1.1210 levels and potential target as 1.1500 levels at least. A drop below 1.1172 would void the diagonal structure and indicate that further down side remains in EURUSD. 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
US Dollar Index bearish confirmation is below 95.65/70The US Dollar Index structure remains more or less unchanged from what we had discussed last week. It is seen to be trading around 96.50 levels at this point in writing and is expected to drop lower at least towards 95.65/70 going forward. Looking into the wave structure, we have presented a potential ending diagonal for the (5) th wave of the impulse rally that began from 88.30 levels. If this count should hold true, the US Dollar Index should remain below 98.10/15 levels. An aggressive strategy could be to remain short from last week, against 98.15 levels, with potential targets below 95.65 (break of the first major price support). As an alternate, if 98.10/15 levels break, the diagonal structure would be void and indicate further upside (probabilities remain less for the latter scenario, though) 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:DXY
by FXTM
US Dollar Index drop to accelerate below 96.00 levelsThe US Dollar Index might have formed a meaningful top around 97.70 levels as we have been discussing earlier. Please note that the ending diagonal structure for (5) th wave proposed here would remain valid till the US Dollar Index stays below 98.10/15 levels. Looking at the lower degree waves unfolding since 97.70 levels, a potential 3rd wave (lower degree not shown here), could unfold from 97.00 levels, accelerating the drop below 96.00 levels. Please note that a break below 95.65/70 levels would be encouraging to the bears and also confirm that a meaningful top is in place at 97.70 levels. An aggressive trading strategy could be to remain short against 97.20 levels, while a conservative strategy could be to remain flat and allow break below 95.65/70 levels before selling on rallies. 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:DXY
by FXTM
EURUSD remains bullish above 1.1216 levelsEURUSD potential ending diagonal structure for the (5) wave, discussed earlier remains valid till prices stay above 1.1216 and broadly above 1.1172 levels. Please note that if prices were to drop below 1.1172 levels, the proposed ending diagonal wave structure would turn invalid and further bearishness could continue. Looking into the short term wave structure, the rally from 1.1216 levels seem to have further potential through 1.1500 levels going forward. An aggressive strategy could be to remain long against 1.1216 levels or wait until prices break through 1.1500 levels and then buy 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.
by FXTM
1
Gold forms interim support around $1196 levelsGold prices rallied post higher lows formed at $1196.00 levels earlier. Please note that the metal found support at a convergence of fibonacci 0.618 and trend line support earlier. Furthermore, the subsequent rally has taken out interim resistance around $1212 levels, keeping bulls in control. The metal could retrace lower from here before resuming its potential rally towards $1250/70 levels, but dips would now remain above $1196.00 levels if the above structure should stay. Structurally, Wave C of the A-B-C counter trend rally, seems to be well in progress and prices are expected to exceed $1250/70 levels until $1196.00 and $1182.5 supports hold. We maintain our medium term bullish outlook against $1196.00 levels 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
Dow Jones remains unchanged. Sell on rallies through 25600The story for Dow Jones remains unchanged for now with bears in control and printing yet another low around 24800 levels yesterday before pulling back. Looking at the wave structure, a potential wave (3) seems to be unfolding since 26300 levels last week. Within the larger wave (3), a lower degree wave 1 could have been complete at 24800 levels and a 3 wave counter trend rally might be unfolding as wave 2 (not labelled here). If the above wave structure holds true, wave 2 potential termination could be through 25600 levels going forward. Bottom line, any intraday rallies should remain well capped below 26300 levels if the above wave counts should remain valid. We maintain our medium term bearish outlook in Dow Jones against 26300 levels with potential targets below 23000. 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
Dow Jones accelerates lower towards 25000.The Dow Jones seem to be in complete control of bears, since it carved a lower top around 26300 levels earlier. Please note that we had discussed this drop around those levels and that the previous rally could just be a bull trap. Looking at the wave structure, it is quite clear that Dow Jones had dropped in an impulse earlier between 26950 and 24100 levels respectively. Furthermore the drop was followed by a 3 wave corrective rally A-B-C towards 26300 levels. If this structure should hold, we would continue lower towards 23500 and further in the coming trading sessions. Also note that any intraday rallies should remain well capped 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 resumes higher. Bullish against $1182.50Finally, Gold bulls seem to be in control after producing a complex corrective drop since $1245 levels earlier. The yellow metal has managed to take out initial resistance at $1212 levels and print a higher high around $1215/16 levels as seen here on the charts. The metal is seen to be trading around $1209 levels at this point in writing and could continue printing higher highs and higher lows going forward. Looking at the wave structure, Wave C within the corrective A-B-C is under progress now, and till prices stay above $1182.50 levels, we could see through $1250/70 levels. We maintain our bullish stance against $1182.50 levels 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
US Dollar Index potential top seen at 97.70The US Dollar Index might have formed a potential top around 97.70 levels earlier and might be looking to resume lower. It is too early to confirm the same at this point in time but a break below 95.65/70 levels would certainly be encouraging for bears, also a confirmation that trend has turned lower. Looking at the wave structure, a potential 5 waves impulse rally could be complete at 97.70 levels and that a 3 wave drop could resume soon. In case prices rally beyond 98.10/15 levels, the above structure would be void. An aggressive trading strategy could be to initiate shorts against 97.70 levels while a conservative strategy could be to remain flat and allow prices to break below 95.65/70. 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:DXY
by FXTM
EURUSD potential bottom seen at 1.1216 ?The 4H chart for EURUSD is suggesting that the pair might have formed a meaningful bottom at 1.1216 levels. It has managed to push through 1.1350 levels and is seen to be trading around 1.1325 levels at this point in writing. It could be too early to confirm a bottom but a push through 1.1500 levels would certainly be encouraging for bulls and also a confirmation that a meaningful bottom is in place. Looking at the wave structure, a potential 5 waves drop might be complete at 1.1216 levels and a 3 wave corrective rally might be in the making. Only a sustainable drop below 1.1172 levels would void the above structure. 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.
by FXTM
US Dollar Index top formed at 97.70 yesterday?The US Dollar Index 4H chart view might be suggesting that 97.70 could be a meaningful top formed yesterday. Please note that the index could have unfolded into 5 waves from 97.70 levels, at a lower degree; and if it holds true, prices would ideally remain below 97.70 levels and push towards 95.70 levels going forward. Immediate price resistance could be seen at 97.70 while support is seen at 95.65 levels respectively. Also kindly note that if the proposed ending diagonal structure within (5) is correct, prices would stay below 98.10/15 levels. An aggressive trading strategy could be to short now, against 97.70 levels, while a more conservative trading strategy could be to remain flat until price break below 95.65 levels respectively. 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:DXY
by FXTM