harshjapee

harshjapee

EURUSD has carved a series of lower degree Waves i and ii after printing highs at 1.2242 levels. Preferred count suggests EURO is carving a lower degree wave ii within Wave (iii) of Wave 3. If the above structure is correct, prices would stay below 1.2113 and find resistance around 1.2000/30 zone. Alternately count suggests that EURUSD might be retracing the...

harshjapee

Gold's corrective phase continues as Wave B might be in place @ 1858.39 today. If correct, the yellow metal may drop lower from here towards $1800/06 levels as Wave C progresses. That move would complete an A-B-C correction for Wave 3 to proceed higher. Short term bearish towards $1800/10, then bullish

harshjapee

Gold might still be unfolding its corrective wave A-B-C from $1875. Potential Wave B might be underway towards $1853/54 levels, the fibonacci 0.618 retracement of earlier drop as well. If unfolds accordingly, a sharp decline might follow through $1805/10 levels as Wave (C) progresses. Short term bearish towards $1806/10, then bullish.

harshjapee

USDJPY terminated a potential Wave 2 around 103.50 levels yesterday. The triangle count did not work out as projected as bears managed to produce a combination for Wave B within correction. As stated earlier as well, corrective waves usually reveal past price action. If Waves 1 and 2 are now correct, USDJPY bulls are back in control and heading towards 105.00,...

harshjapee

EURUSD potential ending diagonal might be unfolding since 1.2058 lows, Wave 4 termination. If correct, bulls might push through 1.2184 and turn sharply lower again. Alternately, a top might be already in place at 1.2176 yesterday and a lower degree waves 1 and 2 might be completing now. Either way, EURUSD looking lower through 1.2050 at least. Short against...

harshjapee

USDJPY had rallied from 103.18 through 105.65 earlier carving Wave 1 of C. The subsequent drop has been unfolding as a triangle a-b-c-d-e, which terminated potential Wave 2 around 103.90 yesterday. If correct, we might witness a sharp rally towards 107.30 and higher as Wave 3 unfolds. Buy against 103.18, targeting 107.00 and higher

harshjapee

EURUSD most like terminated the 4 th wave around 1.2058 and might be heading towards 1.2200/50 handle to terminate Wave 5. Even a print above 1.2177 would be good for minimum requirement, to terminate the 5th wave. If correct, we can expect a major reversal towards 1.1200 at least. Good to sell on rallies through 1.2200/50

harshjapee

Gold might have completed Wave A and B of the corrective drop towards $1825 and $1850 respectively. If correct, we might witness a sharp decline towards $1800/06 to terminate Wave C and Wave (2) before resuming rally. Good to buy on dips through $1800/06, stop 1750

harshjapee

Gold had dropped lower to $1829 before pulling back, might have completed Wave A of the proposed A-B-C corrective drop towards $1805/10. If correct, the yellow metal might pullback through $1856/60 levels to terminate Wave B before turning lower again to complete Wave C around $1805/10. Buying on dips through $1805/10, against $1760

harshjapee

The rally that had begun since 1.0636 lows in March 2020, seems to be close to completing 5 waves through 1.23 handle. Short term support comes in around 1.2000/10 handle before final thrust to terminate the larger degree impulse wave.Bearish thereafter. Short term Neutral. Bearish from 1.2300 handle.

harshjapee

Gold most likely completed 5 waves at $1875 yesterday, marking an impulse Wave (1). Ideally a 3 wave corrective drop likely to unfold towards at least $1830, and up to $1805/10 levels from here. Thereafter a sharp rally through $1950/65 as Wave (3) unfolds. Short term bearish through $1810/30 levels.

harshjapee

EURUSD has been drifting in a potential sideways range since printing 1.2177 last week. A lower degree Wave iv might be underway towards 1.2000/10 handle, the fibonacci 0.382 of Wave iii; before turning higher again through Wave v of 5. Intraday Inter day short against 1.2177 towards 1.2000/10

harshjapee

Gold might have terminated Wave 1 of 5 of C around $1871/72 today. High probability trade direction looking lower from here back into the $1830's and $1800's. An A-B-C corrective drop likely to resume soon. Intraday/inter day short against $1875, towards $1830 and $1805

harshjapee

GBPUSD might have terminated Wave B of the proposed A-B-C lower, around 1.3440 today. If correct, prices would remain below 1.3482 and head lower towards 1.2200 mark in the next several weeks. Proposed short against 1.3500

harshjapee

US Dollar Index might have either terminated Wave 5 around 91.10 today or could be close to terminating around 90.50/70 mark. If correct, a meaning rally might unfold towards 98.00/50 in the next few weeks. Aggressive long or prepare to go long.

harshjapee

EURUSD might have terminated Wave 5 around 1.2108 or could print around 1.2130. If correct, high probable corrective phase resumes soon, pushing prices towards 1.1200. Another alternate of a decline below 1.0636 also remains over the long term. Remain short or prepare to sell.

harshjapee

Gold had dropped through $1848 lows earlier completing a potential impulse drop. Since then the yellow metal has produced a corrective rally towards $1950/60 levels. The wave structure could be seen as Wave (1) and (2) complete around $1848 and $1950/60 levels. If the above holds, Gold should be resuming its down trend soon from here. Also watch out for a...

harshjapee

US Dollar Index had reversed sharply from 94.30, the November 04, highs and settled at 92.15 today. Possibilities remain both sides but bullish scenario remains intact until 91.75 holds. If a flat is underway from 91.75, US Dollar Index should rally sharply towards 96.00 levels before reversing lower again. A minimum push through 93.50 levels can be expected from...