SharifAzadeh

SharifAzadeh

The structure of the recent rally doesn't look much promising. I think this is a 4th wave upward correction that eventually will lead to a final 5th-wave decline, testing the March lows and then we will witness a true, authentic Euro rally that will send the DXY all the way down to sub-90 levels.

SharifAzadeh

After rising relentlessly for 5 consecutive days, Dollar bulls faced stiff resistance today. The negative divergence in RSI has been indicative of an impending short term reversal which would push the prices back into the channel and this materialized today. Now the price is sitting on the lower boundary of the channel and a strong support zone. If the bulls...

SharifAzadeh

As it can be seen on chart, a bearish AB=CD has been formed in the upper boundary of the channel. I propose a short position if the 120.4 level is broken, targeting 118.4 and with a stop loss at 121.2. Good luck

SharifAzadeh

As is shown on the chart, the heavy supply witnessed yesterday in a resistance zone caused the formation of a shooting star pattern that points to a healthy correction towards the support area. A 2% decline is favored before the uptrend continues.

SharifAzadeh

As is shown on the chart, the recent upward move is seems to run its course near the top area of the channel. Taking into account the overall picture, this up leg is most probably a 4th wave counter-trend rally that should be ended soon and another leg down during a 5th wave should commence.

SharifAzadeh

As is shown on the chart, there is a clear Inverted AB=CD pattern formed on this chart. Also in the 4-hour time-frame, a ZLR formation is visible. I favor a 5th-wave rally from here to gradually unfold in this week. Good luck