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SPX500 continues to remain vulnerable for a steep bearish reversal until prices stay below 3400 resistance. The larger degree waves are clearly suggesting that Wave (1) and (2) might be in place at 2200 and 3238 (Spot) respectively. If the above counts are correct, SPX500 would stay below 3400 mark and turn lower towards 2200 levels as Wave (3) progresses. We...

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Gold has been drifting sideways since printing highs at $1818 levels. The trading range is extremely narrow between $1815 and $1795 respectively. A break below $1795.00 would accelerate towards $1750, indicating the beginning of a bearish reversal. Alternately, a break above $1815 might attempt another push beyond $1818, which could be the thrust wave, before...

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US Dollar Index might have managed to carve a meaningful bottom around 95.78 mark. A break above 96.70, which is immediate resistance, will confirm a bottom is in place as the index would also break above its immediate resistance/down trend line. The wave structure still looks constructive for bulls as they have managed to hold above 95.70 lows, unlike the EURUSD...

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EURUSD has managed to drop from 1.1450 levels in a corrective manner until now. This leaves room for a further push through 1.1500 levels before resuming lower. Alternately, if EURUSD manages to complete an impulse drop, it would confirm that a meaningful top is in place around 1.1450; we shall update accordingly. The wave structure since 1.0636 lows might be...

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Dow Jones had rallied through 27182 yesterday before reversing lower again. The indice is seen to be trading around 26700/50 levels as we prepare to publish this update. Potential wave counts are indicating that a Dow Jones has now carved a lower degree Wave 2 flat around 27182 yesterday. The earlier drop between 27626 through 24544 was lower degree Wave 1. If the...

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Bitcoin has dropped lower from 9250 highs yesterday and is seen to be trading around 9070 as we prepare to publish this update. The crypto has spent quite a few number of days in consolidation and might be finally preparing for a breakdown towards 6300/6400 zone. A drop below 8850 mark would see an acceleration as bears remain in complete control. The structure...

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GBPUSD had reversed from 1.2670, around 70 pips above the fibonacci 0.618 retracement of the drop between 1.2800 and 1.2250. The currency pair is seen to be trading around 1.2530 as we prepare to publish and might have carved a meaningful top around 1.2670. The wave counts from 1.2800 are indicating that GBPUSD might have carved Wave A and B around 1.2250 and...

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EURUSD is pulling back from 1.1450 levels and is seen to be trading around 1.1385 levels as we prepare to publish. By all means, it could just be a retracement and bulls might prepare to push towards 1.1500 resistance next. Having said that, it is not mandatory for EURO to hit 1.1500 before reversing lower again. The fibonacci retracements for the bullish boundary...

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SPX500 might have surprised quite a few traders as it rallied past 3235 mark in the last 2 trading sessions. Believe it or not, the overall structure continues to remain bearish until prices remain below 3400 resistance. Larger degree Waves (1) and (2) seem to be in place around 2200 and 3235 mark, as the indice is expected to resume lower towards 2200 with Wave...

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Gold has been holding well below $1818 mark and had again reversed from $1815 today. The yellow metal trades below $1805 at this moment and might be looking to push further lower. Please note, a break below $1750 will confirm a potential bearish reversal, which is long due. The larger degree wave structure still remains unchanged with Gold in a corrective phase...

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US Dollar Index is still holding above 95.70 levels, while its counterpart EURUSD is printing higher. This is a divergence scenario and a potential trend reversal as well. Looking into the price action we turn Neutral in the US Dollar Index for the moment, but it is just a matter of time before bulls are back in control. If the drop from 103.00 is unfolding as an...

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EURUSD cleared 1.1420 interim resistance changing the structure. The rally from 1.0636 is here to stay and has completed Waves 1, 2, 3, and 4 with Wave 4 terminating at 1.1167 as marked on the chart here. EURO bulls seem to be poised to move towards 1.1500 resistance before taking a meaningful break. We shall be looking to enter longs on a pullback towards...

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Dow Jones had rallied yesterday through 26647 levels only to find resistance again. The indice seems to have carved a lower degree Wave 2 since 27636 highs on June 09, 2020. It still remains possible for a print above 26800 mark, but probabilities are getting lesser with each day passing. The larger degree wave structure is pretty clear with potential Waves (1)...

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DAX spot chart is shown here, which is closed around 12800 mark. Futures had staged a rally yesterday in the New York session, towards 12870 levels before reversing lower again. It was interesting to see that the indice futures held below critical resistance at 12920 levels, the June 08 highs. The indice had earlier dropped from 13800 through sub 8200 levels...

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GBPUSD might have just entered the last leg within the proposed A-B-C corrective drop against 1.2800 handle. The counts are pretty much clear here. GBPUSD drop between 1.2800 through 1.2250 as Wave A, the subsequent rally towards 1.2670 as Wave B and since Wave C underway since then. Wave B managed to terminate just above the fibonacci 0.618 retracement of Wave A,...

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EURUSD had rallied through 1.1374 yesterday before finding resistance. Structurally, the currency has said to have re-tested the fibonacci 0,786 retracement of the previous drop between 1.1420 through 1.1167 respectively. Potential wave counts still remain as discussed earlier; Wave 1 and 2 potentially in place at 1.1167 and 1.1374. These are not labelled here for...

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Bitcoin continues to remain vulnerable to a corrective drop towards 6300/6400 levels until 10500 resistance remains intact. The crypto has been testing the 9300/50 zone after reversing lower from 9480 levels earlier. Another drop towards 6400 mark would be considered as normal since it is also the fibonacci 0.618 support of the previous rally between 3850 and...

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Gold might be looking to test $1818 resistance again and bulls might be poised to push further. As discussed on Friday, the yellow metal trading near strong resistance, where fibonacci ratios are converging. A potential top cannot be confirmed by any means at this moment, and conservative traders might want to remain flat. We need to see a drop below $1757 support...