Joseph_Rofael

Joseph_Rofael

Starting from March 2021, there has been a notable uptrend movement in the stock prices, breaking the price level of 84.7 and reaching a peak of 111.2 in September 2022. Following this, a correction occurred, forming a double bottom pattern within the range of 94.4 in March 2023, and now the prices have returned to the previous range of 111.2. At present, we are...

Joseph_Rofael

Following a significant upward movement that commenced on January 24, 2024, with a breakthrough of the price at 44.6, the stock prices have reached previous levels, averaging at a price of 55. This suggests that the stock prices will encounter historical resistance levels within the range of 55 to 61. Consequently, a correction down to 49.7 may be...

Joseph_Rofael

Based on the analysis provided, it suggests that there is an uptrend in the price of Ethereum starting from October 22, 2023, after breaking the price level of $1745. Several technical indicators are mentioned to support this interpretation: 1-Price Breakout: The price breaking above $1745 is seen as a bullish signal, indicating a potential change in...

Joseph_Rofael

In the short term, gold prices have been observed to fluctuate within a range of $1970 to $2000 per ounce. This range aligns with the levels of the 61% and 78% Fibonacci retracement, respectively, relative to the previous downtrend wave. The fact that gold prices are currently trading within this range indicates uncertainty regarding the market's...

Joseph_Rofael

After reaching the previous target that we mentioned before in the previous analysis. We now can say that we are watching a small correction in the short term, and after that the prices could move lower reaching the range of 0.6. It seams like it is to long but could be achieved. On the other hand, if the price moved above 0.66, we could retune back to the sideway...

Joseph_Rofael

the DXY is now stay steady at the range of 105 after forming a new signal of a weakness in the downtrend that is formed from 10th November 2022 when it breaks the range of 109.5, reaching almost 99.5 at 14th of July 2023. After that we saw that it is started to move in an uptrend channel reaching historical resistance range around 107 and 108, but now we are...

Joseph_Rofael

the Commercial International Bank (COMI) is leading the EGX 30 with weight of 26.21% to a historical high points that was not been reached before. We can see from the chart that still having a potential rally after breaking the level of 58. However, the volumes is low and the rally to the uptrend is not as sharp as before. It is moving in an uptrend channel, not...

Joseph_Rofael Updated 

After covering almost 61.8% of the Fib retracement ratio, it is now facing a historical horizontal resistance line around 23.3. In fact, if it breaks through that price, it could reach $24.6, which is the same as a 78.6% Fibonacci retracement ratio. On the other hand, silver could reach on the other side a price of 22.3, which is around 38.2% Fib retracement...

Joseph_Rofael

This new move on EURUSD is adding a new strength to the uptrend after the last correction. It is not that clear till now, but it could indicate the near future moves. the following prices in the uptrend will be (1.092). While on the other side will be in average of (1.082). Please note that we could face a low in the liquidity in the EUR that will affect the pair...

Joseph_Rofael

Now we see that the AUDUSD moving in a channel, respecting it's borders, but we still do not know yet the real direction will be after this correction movement reaching the 23.6 % Fibo retracement. If we need to continue with the elliott wave count, the correction wave (A) diagonal should break above wave (4), that condition did not happened yet, but we are...

Joseph_Rofael

after the last move in the previous days, there is a good chance to take a long position to the next levels at range of ($80) as a long term trading opportunity. However, in case that the prices did not hold on in the next weeks and fallen to the average of ( 67.5) it could be a fake double bottom, and we will see that the WTI will start to move in a side...

Joseph_Rofael

Now we see that the GBPUSD is in narrow range between (1.22) and (1.235). adding to that the formation of a small rising wedge, and a small volatility in the market. UK inflation is likely to fall in the near future according to the BoE Governor Bailey from yesterday, but it will still high too after that small fall. the next move could be bullish reaching the...

Joseph_Rofael

After that great move in a short period of time, the Bitcoin price is facing a historical resistance area between the prices of $28100 and $31100. We know that is a big range, as Bitcoin is one of the more risky pairs to trade in, but at the same time, it is achieving a high return. Anyway, we will hold our old purchase order, waiting to see if it will break out...

Joseph_Rofael

After the last signal in 10/03/2023 to start selling the pair of USDJPY, we will face in near future a historical support area around prices (127.63) and ( 126.55). In that case we should take care of our selling possession. till now we do not have any indication that we will change our position. in case that will happened, the price mostly will need to reach...

Joseph_Rofael Updated 

According to the new movements , adding to it the historical data and price action. we could see a new movements in the same direction between 32 and 38 for the USDEGP chart, at 2.618 fib retracement ratio. we could see a correction in near future at 21.5 USDEGP at the first and second quarters. we will face a new demand for the USD at the beginning of the...