Get started

NZD-CHF

Gold bounces from convergence, looking higher nowThe $h chart view for Gold is suggesting that bulls might still remain in control, even though prices dropped as low as $1200 levels yesterday. Please note that the yellow metal is finding support around fibonacci 0.618 of the rally between $1182.00 through $1245.00 levels respectively. Furthermore, the counter trend support trend line is also seen to be passing close through the price lows. In terms of price action, an engulfing bullish candlestick pattern is also produced as seen here. Looking into the wave structure and the above convergence points, we could see prices rallying from current price levels through $1250 and further. It should be noted that the above scenario remains valid till prices remain above $1182.50 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.
FX_IDC:XAUUSDLong
by FXTM
Dow Jones resumes wave (3) with potential below 23000!The Dow Jones reversed sharply yesterday and was almost 600 points lower at close (25389 levels. This drop did not come as a surprise to us and was anticipated last Thursday. 08 November, when prices reversed from sub 26300 levels, followed by an evening star reversal pattern on Friday. Looking and the wave structure, we maintain our bearish outlook as last week and continue to favor bears in complete control as price action unfolds. Immediate price resistance is seen at 26300 levels now, followed by 26950 respectively. A safe trading strategy could be to hold short positions and look to add further on intraday rallies, with risk/stop reduced to 26400 levels, and potential targets at 23000 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
2
US Dollar hits 97.70. Potential bull trap?The daily chart view for US Dollar Index has been presented here with alternate wave counts since 88.30 through 97.70 levels respectively. It could be possible that 3rd of 3rd wave was an extension and that brings us to a possible wave (3) termination at 97.00 levels. Wave (4) potential termination point was 93.80 followed by wave (5), which probably ended into an ending diagonal structure, unfolding into 5 waves, labelled here. If the above wave structure holds to be true, prices should remain below 98.18 levels going forward. Furthermore, prices should break below 95.65 levels to confirm a top in place. We remain neutral for now and await for a bearish reversal signal from current levels to turn bearish 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.
TVC:DXY
by FXTM
2
EURUSD breaks 1.1300. Could be a bear trap?The EURUSD pair dropped below 1.1300 levels yesterday and print fresh lows around 1.1216 levels before recovering. The currency pair is seen to be trading around 1.1240 levels at this point in writing and needs to break above 1.1500 from here to regain the bullish momentum. Looking into the daily chart wave structure, we have considered an extended 3rd of 3rd wave and presented the counts here. In this case, wave (4) potentially terminated at 1.1820 levels and the (5) th wave potentially unfolded into an ending diagonal , subdividing into 5 waves. If the above representation of counts holds, prices should stay above 1.1172 levels, and produce a bullish reversal. We remain neutral for now and shall await a bullish reversal before changing stance 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.
by FXTM
1
US Dollar Index trades close to break out point at 97.20The US Dollar Index is seen to be threatening to break above 97.20 levels at this point in writing. Please note that a break above 97.20 could trigger bullish potential to higher levels but we shall remain neutral in that case. Until prices stay below 97.20 levels, it is favored to drop lower towards 94.70 levels at least. Intermediary price resistance is seen at 97.20 levels for now, while price support is at 94.80 levels respectively. A breakout on either side is expected soon, clearing further direction of the US Dollar Index. Structurally, after a 5 wave impulse rally from 88.30 through 97.20 levels , a 3 wave corrective drop is expected lower towards 93.80 at least. 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 trades close to a turning point around 1.1300The EURUSD comes further close to 1.1300 levels for now and is seen to be trading around 1.1311 levels at this point in writing. Most traders would want to turn bearish but we still remain long until prices stay broadly above 1.1300 levels going forward. A break below 1.1300 levels could trigger a potential sell off but we would remain flat and would wait for potential bullish reversal signals. until prices trade above 1.1300 levels, potential remains for a push through immediate resistance at 1.1620 levels going forward. Interim price support is seen at 1.1300 levels while strong price resistance is seen at 1.1620 levels respectively. Structurally, if a flat is unfolding, potential remains up to 1.1850 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.
Long
by FXTM
Gold completes correction around $1206 ?Gold prices dropped lower than expected and formed fresh higher lows at $1206 levels on Friday. The structure from $1245 levels until now, looks to be corrective and could be retracing its earlier rally between $1182.5 through $1245 levels respectively. Please also note that prices could find support here, since it is a convergence point of fibonacci 0.618 support, past resistance turned potential support around $1206/08 levels as seen on chart presented. A bullish reversal here could trigger prices pushing higher again towards $1250 levels and higher. On the alternate side, a break below the counter trend support trend line , could target $1182.00 levels. A safe trading strategy could be to hold longs with stop below $1182.00 and potential target around $1250.00 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.
FX_IDC:XAUUSDLong
by FXTM
1
Dow Jones lower top formed at 26300 levels ?The Dow Jones closed lower on Friday, around 26000 levels, after carving a potential lower top around 26300 levels earlier. Please also note that, prices reversed lower forming an evening star ( bearish ) candlestick pattern between fibonacci 0.618 and 0.786 resistance levels. Looking into the medium term wave structure, it looks like a 5 down (impulse), followed by 3 up (corrective A-B-C) until now. If this wave structure holds to be true, we could see an impulse drop unfolding into 5 waves, towards 23000 levels at least and further. Intermediary resistance is now seen around 26300 levels, followed by strong resistance at 26950 levels. We maintain our medium term bearish outlook for Dow Jones, against 26950 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
2
Dow Jones seems to be topped out at 26300 levels ?The Dow Jones turned lower from around 26300 levels yesterday. It is too early to confirm a bearish reversal on the daily chart but potential remains for the same. At the same time, please also note that Wave C equals Wave A at 26500 levels, hence an upside through those levels cannot be ruled out. The wave structure is representing an impulse drop from 26950 through 24100 levels, followed by a potential zigzag corrective wave A-B-C until now. If this structure should hold, we could see prices dropping lower sharply through 22500 levels at least. Overall, we maintain a bearish outlook from around 26300/500 levels in the Dow Jones. 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
EURUSD needs to hold 1.1300/02 support to keep upside intactThe EURUSD has reversed sharply from 1.1500 highs. Ideally, prices were expected to remain above 1.1350 levels to keep its medium term bullish structure intact but the markets as usual springs up surprises and alternate wave counts come into picture. At this moment in time, the EURUSD is seen to be trading around 1.1331 levels, and might threaten our proposed bullish outlook if breaks below 1.1300 levels. The most probable wave count until prices stay above 1.1301 levels remain an A-B-C flat, where wave C might be unfolding into an ending diagonal of a flat. Bottom line is that 1.1300/01 should hold for now. We shall turn neutral if prices break lower and watch for further price action to take further 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
Gold bulls find support ahead of $1220Gold prices corrected lower since yesterday but support came in close to $1221/22 levels as seen on the 4H chart presented here. Please note that price action keeps the structure intact, and the yellow metal remains well poised to push higher towards $1250/52 levels at least, if not any further. The 4H wave structure remains intact and unchanged as discussed earlier; with potential Wave C underway (into its last leg). The medium term outlook for Gold remains bullish until prices stay above $1212 levels. A safe trading strategy could be to hold long positions taken earlier, and/or add/take fresh longs now with risk below $1212 and potential target towards $1250 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.
FX_IDC:XAUUSDLong
by FXTM
1
US Dollar Index Wave C in progress. 94.70 in sightThe US Dollar Index continues its bearish outlook for now, as presented on the 4H chart here. Looking again into the wave structure, it remains intact with probabilities of a flat A-B-C formation. Wave B most probably terminated at 97.20 levels last week and Wave C cold be underway now, towards 94.70 and 93.80 levels, going forward. Please note that prices should stay below 96.70 levels, for the above structure to remain intact. Looks like a 3rd of 3rd wave could resume lower any moment and push prices towards 94.70 levels, before producing a pullback. We could see a pretty swift drop, till prices stay below 96.70 from here on. Overall, we maintain our bearish outlook in the medium term. 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 rally on track towards 1.1620 at leastThe EURUSD continued pushing higher yesterday as expected, printing highs at 1.1500 levels before retracing lower again. We still remain optimistic about the Wave Structure presented on the 4H chart view here. It is indicating that EURUSD could be underway to unfold into a flat A-B-C. If this structure stays, we could see the existing rally continue higher towards 1.1620 as initial target and further towards 1.1830 levels as well. Please also note that any intraday corrective drops should stay above 1.1350 levels going forward. It could still be too early to predict, but possibility remains above 1.1850 levels, till EURUSD stays above 1.1301 levels, in a broader sense. Overall bullish scenario 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
4
Dow Jones bearish reaction expected around 25500/850We had discussed early last week (Oct 29), that Dow Jones is close to completing its 5 wave decline from 26950 levels and a short term corrective rally could be underway any moment. Looking into the price action so far, it seems that the indice has already completed its first wave of the proposed corrective rally at 25600 levels. If the correction is unfolding as a zigzag , we could see another high possibly towards 25870 levels, which is also fibonacci 0.618 resistance as shown here. Please also note that the previous termination of wave 4 was seen around 25800 levels, making it a strong convergence for a bearish reaction. As discussed earlier, Dow Jones could be preparing for a much deeper correction, going forward. We are changing our stance to bearish again from 25500/800 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
1
EURUSD bounces off 1.1360 levels. Potential low in place ?The hourly chart for EURUSD continues to remain constructive for bulls. Prices bounced off 1.1360 levels yesterday as discussed as potential support and it looks like a corrective drop could be complete from 1.1450 levels. Please also note that 1.1360 is the fibonacci 0.618 support of the rally between 1.1302 through 1.1450 levels earlier (not shown here). Looking at the short term wave structure, a lower degree wave i and ii seem to be now in place with wave ii termination at 1.1360 levels. A push above 1.1450 levels would confirm the above scenario and a bottom in place. Alternatively, a drop below 1.1360 could be possible to complete a complex corrective structure, before the rally resumes. Overall, EURUSD bulls remain in control till prices stay above 1.1300 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 Wave C to accelerate: 1.1620/30 in sight ?The EURUSD hourly chart is suggesting that Wave C could be ready to accelerate soon. The currency pair is seen to be trading around 1.1394 levels at this point in time, ready to push through resistance above 1.1620 levels soon. Looking into lower degree wave structure, the rally from 1.1302 through 1.1455 last week may be wave i and the recent drop could be labelled as wave ii. Please note that prices dropped through 50% retracement of wave i until now, and it could drop towards 61.8% fibonacci retracement as well. If the above wave counts hold true, prices should ideally remain above 1.1302 and wave iii should hit at least 1.1620/30 levels as projected here. We maintain our medium term bullish outlook. 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