ExclusiveMarkets

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Dow Jones might have terminated Wave (2) at 27636, on June 09, 2020. The drop towards 24544 was an impulse, labelled as Wave 1 on the chart. The expected corrective rally is taking shape and should print above 26793 to complete Wave 2. Please note, the indice should ideally stay below 27636 highs to keep the above wave structure intact. If the above short term...

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DAX has surprised many traders as the indice rallied almost 1000 points from 11600 through 12600. High probability remains for a sharp reversal from here, until 12920 holds. The short term wave counts are as follows: The drop from 12920 through 11600 was in 5 waves, hence labelled as lower degree Wave 1 on the chart. The subsequent rally is corrective and has...

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GBPUSD had reversed from 1.2335 levels yesterday and also managed to take out interim resistance at 1.2450. High probability remains for a push towards 1.2900 and 1.3200 resistance ahead. Ideally, prices should stay above 1.2335 from here on and bulls must be poised to take out resistance at 1.3200. A long term bullish reversal would be confirmed thereafter. The...

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EURUSD breaks above initial resistance at 1.1250/60 yesterday and confirms a meaningful bottom in place at 1.1167 handle. The currency should be heading towards 1.1500 resistance in the next few trading sessions. Bottom line: prices should hold above 1.1167 lows. The short term wave counts are as follows: Wave 3 has been unfolding since 1.0775 lows. The sub waves...

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Bitcoin corrective drop is looking incomplete from 10500 highs. The crypto might be preparing to unfold as a flat (3-3-5) structure towards 6300/6400 before resuming higher again. We might see another push towards 9500/9700 before Bitcoin could reverse sharply towards the above support zone. Also note that fibonacci 0.618 retracement of the rally between 3850 and...

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Gold weekly chart continues to construct a bearish story, until $1765 remains intact. The multi-year corrective phase that had begun in 2011 since $1920 highs is about to enter its last Wave (C), as bears prepare to take control back. A break below $1660 would confirm trend reversal against $1765, going forward. If the above larger degree wave structure holds...

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US Dollar Index remained just a few points shy of 97.80, to terminate sub wave iv within Wave 3. The index reversed from 97.72 highs and is on its way towards 94.65, as wave v of 3 unfolds. The early drop from 103.00 through 98.27 was an impulse, Wave 1 on the chart; followed by a triangle Wave 2 termination around 100.56. Since then, Wave 3 has been underway. The...

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EURUSD had dropped further by a few more pips to 1.1167 last Friday, before turning bullish again. The currency pair might be on its way towards 1.1500 as wave v of 3 progresses. Immediate price resistance is 1.1250/60 and a break would be constructive for bulls. Structurally, EURUSD remains bullish until prices stay above 1.0775 (Wave 2 termination), and broadly...

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SPX500 has produced an Engulfing Bearish candle stick pattern after hitting highs at 3230 on June 09, 2020. It should be noted that the indices has reversed from a convergence of fibonacci 0.786 retracement of earlier drop between 3400 and 2200 and the support turned resistance trend line as seen on the chart. Ideally, prices should now stay below the 3230 handle....

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Gold continues to carve a lower degree Wave 2, since $1670 lows earlier. The yellow metal should ideally print one more high above $1745, before reversing sharply lower, as Wave 3 unfolds. We continue to present the weekly chart for a bigger picture but the short term counts are as follows: The drop from $1765 through $1670 seems to be a leading diagonal...

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US Dollar Index fell short of hitting 97.80 levels, which is fibonacci 0.382 retracement of wave iii. It seems to have terminated around 97.58 and turned lower again. The price action is diverging since EURUSD has managed to drop towards 1.1185 before bouncing back. This add to further probability for a continued drop towards 94.65 and further. Either way, US...

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EURUSD hits fibonacci 0.382 retracement of wave iii marked on the chart here at 1.1185 handle. The currency has bounced off and is trading around 1.1212 as we write the article. At times, the instrument behaves so much in tandem with the proposed Wave Guidelines that it is hard to believe. The 4th wave usually terminates around fibonacci 0.382 of Wave 3, we just...

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Dow Jones might have carved a meaningful lower high around 27600/700 levels over the last week. The sharp reversal thereafter has broken its counter trend line, confirming a reversal lower against 27700. The subsequent rally is just a retracement of earlier drop between 27700 and 24544 and has managed to reach fibonacci 0.618 retracement levels. Furthermore, also...

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Brent Crude short term probable wave counts could be as follows: The drop between $43.40 and $36.99 is in 3 waves, Wave a on the chart. The subsequent rally towards $41.64 is also 3 waves until now, Wave b on the chart. If the above counts hold well and Brent remains below $43.40, a potential flat corrective wave structure(3-3-5) could be in the making....

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GBPUSD has been in a religious uptrend since 1.1414 lows. The currency pair has carved Waves 1, 2, 3, and 4 respectively as labelled on the chart here. After having terminated Wave 4 around fibonacci 0.382 retracement of Wave 3 at 1.2100 handle, GBPUSD has been unfolding Wave 5 higher towards 1.2900 and 1.3200 respectively. With Wave 5, GBPUSD has managed to...

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EURUSD had print a shallow low at 1.1207 yesterday, before pulling back. The currency has either managed to carve wave iv around 1.1207 or is close to terminating around 1.1180/1.1200 levels respectively. Either way, bulls are looking poised to resume higher towards 1.1500 going forward. Structurally, EURUSD seems to have carved Wave 1 from 1.0636 through 1.1150;...

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SPX500 has carved a neat lower high around 3230 levels over the last week. By the end of the week it has presented an Engulfing Bearish candlestick pattern, indicating a high probable bearish reversal on the way. Two major theories confirm the bearish structure as well. 1. According to The Elliot Wave Principle SPX500 has carved a classic 5-3 pattern since 3400...

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Gold continues to trade within a tight range between $1710 and $1730 since the past few trading sessions. The short term wave counts are as follows: the drop from $1765 through $1694 could be the first impulse lower, wave 1 (not labelled). A potential expanded flat could be in the making as wave 2 (not labelled), which could terminate around $1745/46 levels....