Scenario 1 : Initial weakness towards 0.73 followed by subsequent rally towards Feb'2021 high of 0.8020 Scenario 2 : Break below 0.7160 and continue to extend weakness towards 0.6760
Scenario 1 : A prolonged consolidation till Mid-Aug'22 followed by subsequent rally Scenario 2 : A short-term consolidation unfolding within a flat structure followed by subsequent weakness towards 25500
NZDCAD is trading sideways within a zone of 0.8630 to 0.8735 since the past couple of weeks. Planning to sell around the upper end of he consolidation zone
Expecting USDCAD to resume its prevailing downtrend after completion of the ongoing corrective structure. Lets see how the corrective structure unfolds.
EURUSD pair is likely to extend further weakness towards USD 1.07 ahead of any significant recovery in the forthcoming months.
Dollar Index is gradually inching higher making overlapping structure. Looking at the ongoing structure and its reversal from the 98.34(25th Apr'19 high) there are 2 possible counts. In the preferred scenario(Red Line), prices are likely to find support around 96.50 on further weakness and witness a sharp reversal towards 98.66 ahead of any significant fall. The...
The pair is unfolding within a downside impulsive wave and is presently in its Wave 5 which is likely to hold above 1.1120 on further weakness ahead of a significant recovery towards 1.20 in the coming 3 to 5 months and turn weak towards 1.06 in the subsequent months.
The pair is likely to consolidate within 1.1820 to 1.2030 initially in the coming week ahead of extending lower towards 1.1650 and then turn higher in the subsequent months
The pair is likely to extend gains towards 1.6580 by holding above 1.56 in the coming weeks ahead of turning down for long term. An early fall below 1.56 shall negate the immediate upside potential and turn the sentiments mixed for medium term.
The pair is likely to extend gains towards 1.1250 by holding above 1.0720 in the coming weeks. 1.1250 is a crucial resistance level to watch out for as a sustained breach above the same shall pave the way for the resumption a new bullish trend for long term.
The pair is likely to extend gains towards 90.00 and above in the long term. In the medium term, prices are likely to extend gains towards 87.60 by holding above 80.50 ahead of a pullback and then continue to extend gains towards 90.00 and above in the subsequent months.
The pair is trading within a bigger sideways corrective structure since July'13 which is likely to continued in the coming weeks. 0.9370 is a crucial support level to watch out for as a sustained breach below the same shall prompt further weakness in the long term.(Red Line projection) If the support of 0.9370 holds then another upside pullback towards 1.03 is...
Gold prices have turned down sharply holding below 1365 and traded mixed within 1335 to 1315 during its last trading week.Going ahead, further mixed price action within 1342 to 1312 are likely to be seen ahead of turning further weak towards 1300/1290 ahead of resuming the underlying bullish trend in the coming weeks.
The pair has bounced back sharply holding above support of 1.2520 during its prior week and are seen consolidating. Going ahead, further consolidation within 1.27 to 1.2930 are likely to be seen ahead of extending gains towards 1.31 and above in the coming weeks.
The pair is unfolding within a flat corrective structure and is in its last leg. Going ahead, on further weakness prices are likely to hold above 1.36 and turn higher towards 1.47 in the coming months ahead of turning down for long term.
The pair traded on a weak note since past 2 trading weeks as was projected in my previous update. Going ahead, prices are likely to resume its bullish trend towards 1.28 in the coming months. Note that, an early fall below below 1.1960 shall negate the above mentioned bullish scenario and prompt further weakness towards 1.1550 hence has to be carefully watched.
The pair is extending gains making higher highs and higher lows thereby keeping the positive trend intact. Going ahead, on further extension of gains prices are likely to hold below 1.2080 and turn weak in the coming week.
The pair bounced back sharply holding above the lower trend line support of the bigger consolidation range and are extending higher. Going ahead, prices are likely to extend further gains towards 1.0780 ahead of any significant pullback in the coming week.