The US Dollar Index 0.02% hourly story is suggesting that the recent rally on Friday may push it higher towards 96.00 levels before finding strong resistance again. There is no certainty of the above though, but a possibility cannot be ruled out. Please note that fibonacci 0.618 resistance is also seen at 96.00 levels and we can expect a bearish reaction if prices...
The EURUSD hourly chart story could be unfolding into potential wave c lower towards 1.1460/70 levels. That is also fibonacci 0.618 support of the entire rally between 1.1300 and 1.1730 levels respectively. The drop from 1.1730 levels could also be labelled as a potential w-x-y -0.20% complex corrective wave structure, not shown here. To simplify, we could assume...
We are presenting the daily chart again after several trading sessions with the most probable wave counts and the RSI oscillator today. The AUDUSD -0.53% pair could be very close to terminating its wave 5 lower from 0.8130 levels. The 38% drop of waves 1 to 3 is seen at 0.7147 levels and prices are seen to be trading at 0.7146 levels at this point in writing....
Gold prices pushed higher towards $1206 levels yesterday, before correcting lower again. The yellow metal is seen to be trading around $1200 levels for now and could be looking to continue higher until prices stay above $1189 levels. We are changing the potential wave counts labelled yesterday with Wave B possibly terminated at $1189 levels. Furthermore, Gold...
The US Dollar Index is seen to be trading around 95.00 levels at this moment in writing, and it could drop lower close to 94.80 levels at least before producing a meaningful correction. With the above scenario in place, one can safely assume that 95.70/75 could be a meaningful top formed and the index could continue lower in 5 waves (Wave C). With a potential...
The EURUSD short term story remains unchanged from what has been discussed recently. The pair is seen to be trading around 1.1628/30 levels at this point of writing and probably looking to push towards at least 1.1660/70 levels before correcting lower again. If the discussed scenario holds well, it would be rather safe to assume that a meaningful bottom could be...
We are bringing the daily chart view after a long time for Dow Jones. Still, the indice is holding its potential A-B-C flat wave structure discussed earlier and prices have also managed to reverse from near about 26200 levels as seen here. A potential evening star candlestick bearish pattern seems to have appeared, indicating a potential reversal, though prices...
Gold is seen to be testing recent swing lows at $1195/95 levels for the third time in the past trading sessions. If the yellow metal manages to break below, we could be seeing lower levels towards $1180/85 levels before the rally could possible resume. Looking at the wave structure, Gold might be still working on a larger degree corrective Wave B, if the above...
The US Dollar has moved swiftly to 95.00 levels, after reversing from 95.70 earlier, and as expected. A probable wave count from here could be that Waves A (terminated at 94.40) and Wave B (terminated at 95.70/75) are complete and that Wave C lower has resumed. Until prices remain below 95.70/75 levels, it is safe to assume that Wave C could be progressing. If...
The EURUSD hourly chart suggests, that a meaningful low could be in place at 1.1530 levels and that a probable direction from here could be on the north side. Please note that the confluence of a previous wave 4 and a nearly 50% retracement at 1.1530 remains a valid point to assume that Wave B could be in place. If the above wave count and structure holds, we...
We would like to bring up the daily chart view for Dow Jones again, just to confirm that a probable reversal could be on cards now after hitting highs at 25888 yesterday. The daily chart has produced a "Pin bar" yesterday, which is an indication of a probable change in trend. Also note that structurally, Dow Jones might have produces an A-B-C flat at 25888 highs...
Gold had push through initial short term resistance around 1199/1200 levels yesterday, before pulling back lower. The yellow metal seems to have broken below a short term support trend line but it could still find support from the current levels around $1189/90. Also note that prices are right at the fibonacci 0.382 support of the rally between $1160 through...
The US Dollar Index bounced off well from the initial support at 94.90/95.00 levels discussed yesterday. It is seen to trading around 95.40 levels at this point of writing and could push intraday towards 95.60/65 levels, before reversing lower again. The hourly chart could be suggesting that wave A of a larger degree is still unfolding and there could be yet...
As the story unfolds, the EURUSD currency pair retraced lower from initial resistance at 1.1620/25 as discussed earlier. The 1H chart view is still suggesting that EURUSD bulls may still have some steam left and prices could push higher through 1.1740/50 levels, which is the termination of previous wave (4). The current short term correction could terminate around...