ExclusiveMarkets

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EURUSD might have formed a meaningful bottom last week around 1.0760/70 levels. We had presented the counts re-adjusted last week for Wave 2, which potentially unfolded as a triangle. Kindly note that corrective waves tend to reveal themselves after they are behind the price action and hence they are trick to be identified at times. If the above counts are...

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Gold weekly chart remains unchanged from what was presented and discussed last week. The yellow metal has been consolidating within a contracting triangle (not seen here) since $1747 highs. The drop between $1747 and $1661 could be seen as a lower degree Wave 1, while Wave 2 is unfolding as a contracting triangle. If the lower degree counts are correct, Gold...

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Bitcoin bulls continue to remain in control over the past several weeks, after printing lows at 3850 handle. It is becoming exceedingly evident that Bitcoin larger degree wave structure remains bullish against 3100 lows since December 2018. If an impulse wave is underway since 3850 levels, we should witness another high towards 10500 handle, before Bitcoin...

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We again present the Dow Jones potential wave counts for short term after the indice carved a lower high at 24897 last Friday, April 30, 2020. We favor a Wave (2) termination at 24897, though it fell short by a couple hundred points from our projection around 25200 handle. In case of price action inching higher to 25200 levels, we shall re-adjust the counts. The...

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SPX500 seems to be ready for a swift reversal lower after carving lower high at 2954 levels on Friday, April 30, 2020. We have presented the weekly chart again for having the bigger picture in mind, which is indicating a potential Head and Shoulder pattern unfolding since 3400 levels. The Right Shoulder seems to be in place now at 2954 handle, and bears are poised...

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US Dollar Index might have unfolded Wave 2 as a triangle structure, which might have terminated around 100.47 levels yesterday. A drop below 99.00 would confirm that a meaningful top is finally in place at 100.47, Wave 2 on the chart here. Alternately, a push above 102.00 would threaten to test 103.00 and void the bearish structure. At the moment, we would favor a...

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EURUSD had dropped to 1.0766 yesterday before reversing sharply. It reached 1.0854 rallying over 90 pips and is seen to be trading around 1.0836 as we write this article. We have labelled an alternate scenario, that of an expanding triangle for Wave 2 termination. If the above structure holds well, Wave e of the triangle might have completed yesterday, Wave 2 on...

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Dow Jones was expected to push towards 25000/200 levels, before reversing lower. The indice managed to print 24897 last Thursday, just shy of the fibonacci 0.618 retracement at 25150 handle. The drop has still not broken below immediate support around 22900 handle but we would favor a potential bearish reversal in place. Immediate price resistance is at 27100/200...

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Brent Crude is moving higher as expected, terminating Wave 3 at $32.24 handle before pulling back. The commodity is seen to be trading just below $30.00 for now and is expected to carve/terminate Wave 4 towards $25.00/27.00 handle, before resuming higher again. The wave structure has been pretty clear since $16.00 lows in April 2020. It remains just one wave away...

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Bitcoin had print close to 9500 last week, taking out resistance at 9220 levels as expected. Since then, the crypto has been consolidating and is expected to produce a flat structure before rallying towards 10500 resistance. It is trading close to 9250 levels as we write this article and do not be surprised if bears manage to drag lower towards 8400/8500 levels to...

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EURUSD has dropped a few pips lower that the expected range around 1.0800/30. It has dropped to 1.0782 lows, almost testing the backside of broken resistance line. Ideally it should provide support and EURUSD bulls should be back any moment. A push above 1.0900 handle would be considered encouraging to bulls to continue further. On the flip side a drop below...

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We have again presented the weekly wave structure and would continue to do for a while. There is no change in the larger degree wave structure which is pointing lower towards $1046 levels, until $1747 resistance is in place. The yellow metal has been carving a larger degree zigzag corrective drop from $1920 levels in 2011. After carving an impulse Wave (A) towards...

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SPX500 has reversed sharply as expected, after hitting resistance zone around 2900/30 levels last week. This was a much awaited reversal an it came after hitting 2954, just above the defined zone. Unlike its counterpart, the Dow Jones, which remained shy of hitting 25000/200 resistance, the SPX500 has now fulfilled all criteria for a bearish resumption. The...

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US Dollar Index has now reached close to 100.00 mark defined yesterday for a potential bearish resumption. We still favor a triangle count for Wave 2, which could be into its last leg (wave e, not labelled here) and terminate close to 100.00 levels. Earlier, the drop between 103.00 and 98.27 was an impulse. Wave 1 on the chart here. If the above counts hold well,...

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EURUSD continues to correct as it prints low at 1.0816 levels today. It is still within the expected range discussed yesterday @ 1.0800/30 levels. We still consider the rally between 1.0636 and 1.1150 to be Wave 1, while Wave 2 potential at 1.0730 levels. It is quite possible that Wave 2 is still unfolding and can produce a more complex structure. All said and...

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Dow Jones has reversed sharply from 24897 highs last week, as expected. The indice remained shy by just over 100 points to test 25000 levels, the range was 25000/200 levels as discussed earlier. Dow Futures are trading close to 23920 levels for now and a break below 22900 would confirm that the trend has revered. Having said that, be prepared to sell more if...

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Brent Crude is just a few cents away to hitting 29/30 resistance and potential Wave 3 termination. The commodity has been moving in line with expectations until now and if the counts are correct, we should see a drop towards 25 levels as Wave 4 prepares to unfold. As a general guideline, 4th waves tend to drift around fibonacci 0.382 retracement of the 3rd wave,...

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GBPUSD has remained broadly in control of bulls since 1.1414 lows on March 19, 2020. It remains close to completing the first impulse wave of one larger degree, that begun from 1.1414 levels. At we write this article, GBPUSD trades around 1.2470 levels, after finding interim support at 1.2400 earlier. Also note that Waves 1, 2, and 3 seem to be already on place as...