dscharalampidis

dscharalampidis Updated 

XAG feel strongly in the last few days and it seems that it has now completed an ABC pattern. The decline looks aggressive and it could be an impulse to the downside, but I choose to label it as ABC because the internal waves suggest that wave B is a triangle and therefore it cannot be a wave 2. That said, I expect silver to rally significantly in the following...

dscharalampidis

I can count 5 waves down from the July 2024 highs. That means I expect the pair to bounce at current levels in a corrective fashion, towards the 150 level. BUY at 142.500 SL at 140.750 TP at 150.00 (to be adjusted)

dscharalampidis Updated 

After a low has been established in Aug 05, EUR/JPY jumped sharply and it has been trading sideways within the range of 163.80 - 160.40 since Aug 15. The positive swap is nice during such periods. Looking at stock market bullishness it's hard to believe that another major JPY rally will occur soon. Therefore, I am look at technical patterns for long entry. As the...

dscharalampidis Updated 

The stock market seems to be in full risk-on mode. I believe the NIKKEI will continue it's advance towards the next level of resistance at 39,000. Although the stops have to be placed at some distance, I still believe it's worth the risk as the momentum seems very strong. BUY at 37,650 (market order) SL at 35,770 TP at 39,000

dscharalampidis Updated 

GBPJPY seems to be stuck at support at 188.300. The preceding move seems to be a leading diagonal, likely forming a wave 1 or A in a larger time frame. That said, I am looking for another rally, either a wave 3 or wave C towards the 196.000 level. BUY at 190.200 (market order) SL at 188.300 (~ -200 pips) TP at 196.000 (~ +600 pips)

dscharalampidis Updated 

After yesterday's rally on US retail sales reading, USDJPY retreated from the highs but is now facing support. I believe the pair will bounce and continue its rally, even if it's just for a larger correction. BUY at 147.85 (at market) SL at 146 (-185 pips) TP at 151.85 (+400 pips)

dscharalampidis

After yesterday's rally on US retail sales reading, USDJPY retreated from the highs but is now facing support. I believe the pair will bounce and continue it's rally, even if it's just for a larger correction. BUY at 146.85 (at market) SL at 146 (-85 pips) TP at 151.85 (+400 pips)

dscharalampidis Updated 

NIKKEI dropped 12% yesterday only to recover 10% today. It seems that the Japanese bull showed some teeth at the lows yesterday and they are ready for a counter attack. I see an important resistance at 37,250, while a drop below the psychological support of 33,000 would like cause an extension of losses. BUY at market (33, 750) SL at 33,000 (750 points) TP at...

dscharalampidis Updated 

XXXJPY pairs have seen some relief rally during the last few days and while the momentum seems to have turned bullish again in the stock market, we cannot ignore the fact that XXXJPY pairs are now struggling in terms of momentum basically moving sideways since August 5. My primary scenario suggests that the preceding decline is incomplete and we need one more...

dscharalampidis Updated 

GBPUSD declined recently after its price action formed what seems to be a triangle. Based on the broader trend, which in my opinion remains up. I expect the pair to initially retrace the recent decline towards 1.28. Stops at today's low 1.2670. BUY at market (1.2710) SL at 1.2670 (40 pips) TP at 1.2780 (60 pips) At 1.2780, I want to reconsider my entries. So...

dscharalampidis Updated 

Although the larger picture suggests lower prices, in very short term, GBP/USD shows signs of bullishness that might drive the pair towards the 1.2875 area. BUY at 1.2845 SL at 1.2800 TP at 1.2880

dscharalampidis Updated 

The pair has fallen from 199.45 to 186.80 since Jun 30. After the open it spiked lower but the move was quickly reversed. I expect the pair to correct higher in a sharp way. BUY at 187.25 (market order) SL at 186.80 (45 pips to today's low) TP 190.20 (275 pips to the first major resistance)

dscharalampidis Updated 

Although the larger picture suggests lower prices, in very short term, GBP/USD shows signs of bullishness that might drive the pair towards the 1.2875 area. BUY at 1.2845 SL at 1.2800 TP at 1.2880

dscharalampidis Updated 

Today's failed rally and reversal invalidated my previous scenario. My alternative scenario is now in play with USD/JPY showing signs of weakness. SELL at 152.75 (virtually market order) SL at 154.85 TP 150.60

dscharalampidis Updated 

The pair stabilized last week and on Friday a modest bounce pushed prices towards the 154 area after hitting a low at around 152.10. It is unclear whether the decline is complete, but it seems that the rally that started last Friday will continue even if only for the very short term. BUY at 154.004 SL at 152.109 TP at 155.754

dscharalampidis Updated 

As long as prices remain below 1.0890, the momentum remains bearish and prices are likely to slide towards the closest support at around 1.0830. A drop below 1.0850 will likely trigger further losses. SELL at 1.0850 SL at 1.0890 TP at 1.0830

dscharalampidis

I examine the long-term support and resistance zones in combination with news headlines. So far, we've seen headlines about JPY reaching 90s levels, but we are not far from stronger headlines such as 80s and 70s. Using a contrarian's approach, and considering that retail traders continue to be overly short USDJPY, I believe it will continue to rise towards...

dscharalampidis Updated 

BoJ intervention area 160. Retail traders are less short the pair then a month ago. Elliott wave patterns suggest a decline even if it's temporary (orange waves). We just had a decline just before invalidation of the orange scenario.