UnknownUnicorn366560

UnknownUnicorn366560 Updated 

The chart above shows our preferred forecast in black. This means that we believe the recent bearish leg is in the 4th wave and about to complete the 5th wave downside. We expect this move to extend to 1.02x. This will be valid ONLY if price is maintained below 1.053. Forex trade setup: Sell Eurusd at 1.04 with stop loss at 1.053. Target 1.025. Alternatively, if...

UnknownUnicorn366560

BEST OF LUCK!!!

UnknownUnicorn366560

The market is trading inside the trading range between the recent top at the level of 1.3598 and intraday support at 1.3474. Moreover, the alternative scenario is indicating that the recent impulsive wave progression was the last swing up in the blue wave alt.(b) and now this longer-term cycle might have been completed as well. Any rally above the intraday...

UnknownUnicorn366560 Updated 

Main Count – Invalidation Point: 1.2571 — 1.2200 – Confirmation Point: 1.2311 – Upwards Targets: 1.2324 — 1.2400 – Wave number: iv pink – Wave structure: Corrective – Wave pattern: Zigzag Alternate Count – Invalidation Point: 1.2311 – Confirmation Point: 1.2200 – Downwards Targets: 1.2185 — 1.2107 – Wave number: v pink – Wave structure: Motive – Wave pattern:...

UnknownUnicorn366560

The market is trading around the weekly pivot resistace at the level of 1.3505. The level of 1.3433 will act as an intraday support now as the market approaches the resistance level. Pay attention to the growing bearish divergence between the price and momentum oscillator. Support/Resistance: 1.3503 - WR1 1.3479 - 78%Fibo 1.3433 - Intraday Support 1.3322 -...

UnknownUnicorn366560

We remain bearish below 1.0268 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to 1.0200 resistance (Fibonacci projection, Fibonacci retracement, horizontal overlap support). Stochastic (21,5,3) is seeing descending resistance pushing price down. Sell below 1.0268. Stop loss at 1.0296. Take profit at 1.0200.

UnknownUnicorn366560

We remain bullish above 1.0418 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 1.0510 once again (Fibonacci retracement, horizontal overlap support). RSI (34) has made a bullish exit signalling a change in the momentum. Buy above 1.0418. Stop loss at 1.0347. Take profit at 1.0510.

UnknownUnicorn366560

Price is now approaching major support at 83.74 (Fibonacci retracement, Fibonacci projection, horizontal support) where we expect a bounce from for price to the 84.92 resistance (horizontal overlap resistance, Fibonacci projection, Fibonacci retracement). Stochastic (21,5,3) is seeing major support above the 14% level. Buy above 83.74. Stop loss at 83.09. Take...

UnknownUnicorn366560

Price continues to drop towards our profit target. We remain bearish below 117.90 resistance (Fibonacci retracement, horizontal swing high resistance, descending resistance) for a drop towards 116.14 support (Fibonacci retracement, Fibonacci projection, horizontal overlap support). RSI (34) is seeing descending resistance holding price down. Sell below 117.90....

UnknownUnicorn366560

Our outlook has not been changed so far. We continue to look for a deeper corrective decline in wave (iv) towards 119.69 before the final rally in wave (v) towards 126.54 is over. In the short term, a break below minor support at 122.01 and more importantly below support at 121.70 will confirm a decline towards 119.69. The alternate count for wave (iv) shows that...

UnknownUnicorn366560

The first impulse of the 1.4654 low was completed at 1.5235 and we are looking for a correction towards 1.4964 from where the next impulse wave will be expected. The next major upside target is seen at 1.5837, but in the longer term, we are looking for much higher levels here. Trading recommendation: We are looking for a buying opportunity at 1.4925 or upon a...

UnknownUnicorn366560

Looking at the weekly time frame of Gold, 1046 was seen as the major support formed on Nov 29, which propelled an aggressive breakout from the bullish wedge. However, a temporary top was formed at 1374 handle on July 10. Price is now seen to be at a very pivotal level which is a confluence of 76.4% Fibonacci retracement of the entire rally from 1046 to 1374 at...

UnknownUnicorn366560 Updated 

Historically, in the past 15 years, gold has not retraced more than 76.4% Fibonacci retracement of a major rally or decline of 25% or more. Similarly, US Dollar vs Japanese Yen (USDJPY) has never retraced more than 76.4% of a major rally or decline of 25% or more. The word ‘’major’’ in this context refers to a move which begins from a multi-year low or high. What...

UnknownUnicorn366560 Updated 

We expect correction upside before the bearish move continues. If the correction to 1.23xx-1.24xx is corrective, we may recommend a sell order. This has not happened yet. The bears are still enjoying this ride which could end at 1.2 unless something drastic happens. We recommend standing aside if not in a bearish position already.

UnknownUnicorn366560 Updated 

he chart above shows a late advancing progression with price trying to complete the last leg of the impulse wave. It seemed the bearish move would start after a resistance at 118.82. What we saw after the resistance is a triangle sideway move. A break above is expected and we thus recommend a bullish trade as written below. Forex trade setup: Buy USDJPY at 118....

UnknownUnicorn366560 Updated 

The market broke out of the trading range and now is trying to test 78% Fibo at the level of 1.3479. The level of 1.3433 will act as an intraday support now as a market approaches the resistance level. Please notice, the growing bearish divergence between the price and momentum oscillator. Support/Resistance: 1.3503 - WR1 1.3479 - 78%Fibo 1.3433 - Intraday Support...

UnknownUnicorn366560 Updated 

Bulls have managed to retrace over 61% of the downswing and it looks like the market is evolving to a more complex and time-consuming corrective pattern like the triangle. The next targets for wave c (purple) of the wave (d) (green) are at the levels of 123.20 or 123.60. Any breakout below the intraday support at the level of 122,79 will lead to the immediate test...

UnknownUnicorn366560 Updated 

The immediate trend in this case is bullish and price will continue this way unless something sudden occurs. A price move to or above $60 in January or February 2017 is expected. An intraday dip (wave (iv) ) may happen at some point to $52-$54, but it seems price’s response to OPEC meeting in Vienna is not ready to wane anytime soon.