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NZD-CHF

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
NZDCHF approaching support, potential bounce! NZDCHF is approaching our first support at 0.6501 (Horizontal overlap support, 38.2% fibonacci retracement, 61.8% fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 0.6610 Horizontal swing high resistance, 38.2% fibonacci retracement). Stochastic (21,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
Dow Jones carving an impulse towards 24250/600 ?We bring up the daily chart view for Dow Jones after quite a few trading sessions. At the moment, it looks like the indice might be carving a potential expanded flat A-B-C structure after reversing from 26950 levels last week. If this count holds well, we could see prices dropping towards at least 24600 and possibly 24250 levels going forward. As an alternate count though, the indice might have formed a major top just shy of 27000 levels and might be carving its first impulse wave lower, hinting a much deeper correction going forward. We shall bring up those possibilities as prices unfold. Ideally support should come in around 24250/600 zone 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.
DJ:DJIShort
by FXTM
5
EURUSD potential support seen at 1.1500/20The EURUSD currency pair has traded in a range between 1.1530/40 and 1.1600 levels since last Friday. This sideways action could be a flat being carved out and prices could possibly test 1.1500/20 levels before rallying further. Looking at the wave counts, it is quite clear that EURUSD is into a 3 wave correction since 1.1300 lows formed earlier. Within the 3 waves, it seems to be into the last Wave C, which could potentially rally deep into 1.2000/1.2200 levels going forward. Ideally prices should remain above 1.1432 levels (interim support), for the above wave structure to hold. 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
US Dollar Index potential top in place at 96.16The US Dollar Index managed to print a marginal high at 96.16 levels yesterday before reversing sharply lower. It seems that Wave B (an expanded flat), might have terminated at 96.16 levels yesterday and Wave C lower could now resume towards 93.00, 92.00 and even lower levels respectively. Please also note that the US Dollar Index has taken out initial support at 95.70 levels. We could expect an intraday rally towards 95.80/96/00 levels before bears are back into control. Looking at the wave count, a smaller degree wave i can be presumed lower for now(not labelled here). We maintain our potential medium term bearish outlook 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
5
Gold direction intact towards $1250/70We had discussed yesterday that according to the price action unfolding, we would bring out alternate scenario wave count in Gold. Prices dropped below $1192.50 yesterday, which changes the wave structure but potential bullish scenario could be intact. The yellow metal could be producing a combination while the corrective rally unfolds. A probable wave count presented here could be a W-X-Y in the making, and if prices manage to stay above $1180 levels, we could witness a sharp rally from current levels pushing towards $1250/70 levels. On the flip side, a drop below $1180 would only delay matters for the proposed rally 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
5