Marc_Forex

Marc_Forex

H4 Timeframe is creating an ascending triangle pattern. This pair might go past the resistance until it hits the daily and weekly trendline at 1.128 area, before it goes down again to create a lower low.

Marc_Forex

Potential bullish butterfly - point D might touch 1.112 before going up.

Marc_Forex

TP1 - Point B TP2 - Point C TP3 - Point A

Marc_Forex

TP1 - Point B TP2 - Point C TP3 - Point A

Marc_Forex

USDCHF is in a long bearish diagonal W timeframe. Currently it suggests further downside to the 0.986 area 4H TF. From there it could start to go up and break the 1.01 strong resistance, or go down further to touch the support trendline at 0.965 area. The question is whether the Daily pattern is an ascending triangle or a bearish diagonal. If it is an ascending...

Marc_Forex

AUDUSD has broken through the Daily bearish downtrend (a weekly downtrend, although, is still intact). On the 4H timeframe, it is forming a bearish diagonal, which may push it upwards to 0.738 area. RSI divergence however suggests it will test the previously resistance-now-turned-support trendline.

Marc_Forex

More likely scenario is it will reach scenario 1 first, before it goes down big. Looking for a clear breakout from a smaller downtrend.

Marc_Forex

DXY is projected to go up, having touched a support trendline. Expect USD currency pairs to correlate.

Marc_Forex

We are still in a major correction from the uptrend leading to 1.47. Currently (daily chart), we are on Wave C of a Running Flat correction (3-3-5 formation) Wave C looks to be an expanding diagonal, which means that: - Wave 4 can enter the territory of Wave 1. - Wave 5 can go beyond Wave 3. Wave 5 may reach the region of 1.27 which runs along a support...

Marc_Forex

We are in wave 5 of an uptrend that started in March 2018 - an expanding diagonal with 5 subwaves. Wave c of the expanding diagonal coincides with wave D of the bearish gartley that is forming - which might reach 113.5 area. When it reaches resistance at 113.5 area, it will go down to form the fourth wave, which might reach 111.9.

Marc_Forex

We are in a corrective structure (ABC) - wave ((2)) - from the high of 1.25 - wave ((1)) There is a support trendline from the lowest point of Oct 2000, which was touched again at the start of wave ((1)), which I also believe we will touch again at 1.06 at the end of wave ((2)) early next year. - We are now at wave B of the corrective structure, which is a flat...

Marc_Forex Updated 

Each wave to the upside is smaller than the previous wave. RSI divergence is showing in the 4H timeframe. Enter on break below trend line.

Marc_Forex

Place short order after completion of CD leg. Resistance at point D corresponds to previous support last Oct 3. TPs are point C and A.

Marc_Forex

A break below the 1.1530 resistance will expose it to 1.1330. Close above 1.1653 invalidates the analysis.