harshjapee

harshjapee

GBPUSD is working on potential Wave 2 corrective wave, which could reach 1.3175 mark to terminate. Note that it is also fibonacci 0.618 retracement of Wave 1 as highlighted on the chart view. If the above structure is correct, bears might be back from 1.3175/1.3200 handle as Wave 3 resumes lower towards 1.2200. Ideally 1.3500 should hold from here on. Remain...

harshjapee

US Dollar Index might have carved potential lower degree wave ii of 3 around 93.50 levels. The index seems to be ready for yet another push higher beyond 94.75 over the near term. Alternately it might have carves Wave 4 of a leading diagonal and preparing to terminate as Wave 5 around 96.00, to complete the structure. Either way, the US Dollar Index should remain...

harshjapee

EURUSD might be still carving a lower degree wave ii of 3 and push towards 1.1800 mark before reversing. The fibonacci 0.618 retracement of wave i is also seen towards 1.1800 so does the past support turned resistance zone. Ideally prices should stay below 1.1915 levels to keep the above structure valid. Remain short, add more around 1.1800, target is open. Good luck!

harshjapee

EURUSD might be either carving a Wave 4 pullback or Wave ii of 3. If it is the latter one, prices should stay below 1.1900/15 handle. High probability reversal zone is between 1.1760 and 1.1800 respectively. Bottom line: EURUSD bears will remain in control until 1.2 handle is intact. Remain short, stop @ 1.2010, target is open Good luck!

harshjapee

US Dollar Index might have carved Waves 1, 2 and 3 around 93.50, 92.60 and 94.65 respectively. If potential Wave 4 is underway, it should terminate around 93.98 and stay above 93.50 (Wave 4 does not enter Wave 1 in an impulse). Thereafter, we can expect a push towards 96.00 to complete its first impulse rally. Alternately, if prices drop below 93.98 and push...

harshjapee

EURUSD might have carved Waves 1,2 and 3 around 1.1754, 1.1915 and 1.1620 levels respectively. The recent pullback could be Wave 4 and it could most likely terminate through 1.1720 mark. If correct, EURUSD should stay below 1.1754 and turn lower toward 1.1500 handle to complete the first impulse from 1.2010. Alternately, EURUSD might be working on a potential Wave...

harshjapee

US Dollar Index had rallied from 92.70 lows over the last week ruling out a standard flat terminating around 92.30/45 mark. The most probable wave structure could be: Wave 1/A between 91.75 and 93.50; Wave 2/B termination around 92.70 and Wave 3/C could be underway towards 95.00 and 98.00 levels from here. If the above unfolds, 92.70 should remain intact....

harshjapee

EURUSD had hit 1.1872 mark earlier and reversed, eliminating an expanded flat possibility. The highest probable count right now could be the following. Wave 1/A was between 1.2010 and 1.1754; Wave 2/B gotten terminated around 1.1914 and Wave C/3 might be progressing right now possibly towards 1.1600 and beyond. Alternate count could come into play if prices break...

harshjapee

US Dollar Index potential Wave 1 seems to be in place between 91.75 and 93.65 respectively. A Wave 2 correction is still on and is expected to terminate through 92.30/40 mark, the fibonacci 0.618 retracement of Wave 1. Bottom line: US Dollar bulls should hold above 91.75 to remain in control. Long against 91.75, target is open. Good luck!

harshjapee

EURUSD hourly chart suggest that potential lower degree Wave 1 is in place around 1.1750 levels. A potential Wave 2 seems to be underway since then and might unfold as an expanded flat towards 1.1930/50 or a potential triangle. It is a typical Wave 2 property to take its own time terminating. Bottom line: 1.2 handle should remain intact to keep bears in...

harshjapee

US Dollar Index seems to have carved Wave B within A-B-C correction to terminate Wave 2. The structure might be still unfolding as a standard flat 3-3-5. If the above unfolds accordingly, we should witness a 5 wave drop towards 92.30/45 levels from here as Wave C unfolds. The overall structure remains bullish though and it is always safe to buy on dips. In the...

harshjapee

EURUSD might have taken quite a few traders by surprise as it pipped below 1.1750 marginally and pulled back over 85 pips towards 1.1812. Believe it or not, we are still not ruling out the probability of an expanded flat for Wave 2 termination. If the above structure unfolds accordingly, EURUSD could be on its way through 1.1950 levels in the next few trading...

harshjapee

US Dollar Index might be still working on its corrective drop, potential Wave 2 towards 92.30/45 mark, which is the fibonacci 0.618 retracement of earlier rally. The indice has earlier carved Wave 1 between 91.75 and 93.65 levels, as bulls registered themselves. Corrective waves at times may be complex and takes more than expected time. The most probable count...

harshjapee

EURUSD bears are back in control after breaking below 1.1750 initial support, lower degree Wave 1. Since then, it has been carving a corrective rally to terminate lower degree Wave 2. The most probable wave count could be of a 3-3-5 flat corrective structure, which might print above 1.1914, before reversing sharply lower again. Alternately, if Wave 2 is already in...

harshjapee

EURUSD might be potentially carving a complex corrective Wave 2. Traders might want to keep selling on rallies but it might be noted that bears need to clear 1.1750 to confirm Wave 2 is in place at 1.1915. We will watch 1.1788 levels closely in the next few hours for a potential bounce. If it does, probabilities remain for a sharp rally towards 1.1950/60 levels...

harshjapee

Bottom line: US Dollar Index bulls should remain in control until 91.75 holds good. The rally between 91.75 and 93.65 looks impulse, potential Wave 1. The past resistance at 93.47/50 has also been taken out, confirming potential trend reversal ahead. The indice trades below 93.00 levels and could terminate Wave 2 around 92.30/45 mark, fibonacci 0.618 of the above...

harshjapee

Bottom line: EURUSD bears shall remain in control until 1.2000 is intact. The drop from 1.2 through 1.1754 looks an impulse, potential Wave 1. The subsequent rally a-b-c through 1.1914 might be potential Wave 2 OR Wave 2 might drift sideways into a triangle. Once complete, EURUSD bears should be back in action as Wave 3 resumes lower. Short against 1.21, target...

harshjapee

US Dollar Index had dropped through 92.69 levels yesterday, which is fibonacci 0.50 retracement of the previous rally. Wave 2 might be complete yesterday or looks to be in progress as it carves a potential A-B-C lower towards 92.30/40.The up gartley would look complete around 92.30/40. Either way, US Dollar Index has carved a meaningful bottom around 91.75 levels...