harshjapee

harshjapee

US Dollar Index could be on its way towards 93.50 after having bounced from 91.75 lows yesterday. The index might have completed a 5 wave drop from 103.00 through 91.75 and a break above 93.50 would confirm. We can expect a similar degree corrective wave at least towards 93.50/94.00 and potentially up to 97.50 levels. Once prices exceed the 93.50 mark, we shall...

harshjapee

EURUSD reversed from 1.2000 handle yesterday, in-line with expectations. It is slid over 150 pips and trades around 1.1850 levels as we prepare to publish. A break below 1.1754 will confirm that a meaningful corrective wave is underway, possibly towards the 1.1100 handle. Alternately, if EURUSD has terminated an expanded flat, we should be looking forward for a...

harshjapee

US Dollar Index drop from 103.00 looks complete around 91.75 levels, or might push towards another marginal low around 91.50/60, before turning higher again. A break above 93.47 would confirm that US Dollar has finally bottomed. If an expanded flat is complete, US Dollar would be reversing higher towards 103.00 and beyond. Alternately, it could lust produce a...

harshjapee

EURUSD has pushed above 1.1965 as we re-do the counts here. Wave iv potential triangle termination seen at 1.1754 lows and Wave 5 has not extended above 1.1965. A break below 1.1754 would confirm a top in place and EURUSD would then be poised to produce at least a meaningful corrective drop if not below 1.0636. Once a top is in place we shall explore probabilities...

harshjapee

US Dollar Index is still unfolding its corrective drop and is expected to reach 92.65 mark before resuming its rally. The index must stay below 93.47 levels to keep the above count valid. The overall trend remains Up, after bulls managed to produce an impulse wave through 93.47 earlier. The index might still be working on a corrective a-b-c drop towards 92.65,...

harshjapee

EURUSD has dropped to 1.1775 mark as we prepare to publish the hourly update. Believe it or not, the currency has room left for yet another push towards 1.1880/1.1900 mark. The short term wave structure is still looking to carve a Wave c rally, to complete the proposed a-b-c rally. EURO should stay above 1.1754 to keep the above count valid. Also note that...

harshjapee

US Dollar Index had completed its impulse rally from 92.15 through 93.40/50 levels on Friday. Further it has dropped towards 92.90 levels today, which is also the fibonacci 0.382 retracement of the above rally. If the above proposed structure holds well, the index should rally through Wave b, before reversing through Wave c towards 92.65 mark. The above structure...

harshjapee

EURUSD has completed Wave 1 impulse from 1.1965 through 1.1754 on Friday last. Further, the currency has pushed through fibonacci 0.382 retracement levels around 1.1835/40 mark today. This rally could be marked as Wave a, within the proposed a-b-c corrective rally. If the above structure is correct, EURUSD should drop lower to terminate Wave b, before rallying...

harshjapee

US Dollar Index seems to have completed its first impulse rally from 92.15 lows. The index has taken out 93.40 initial resistance, also previous Wave 4/triangle termination. The rally has been labelled as Wave 1 on the hourly chart here. Ideally a corrective drop should materialize towards 92.50/60, potential Wave 2 termination. If the above is correct, we can...

harshjapee

EURUSD has finally broken below 1.1780, the previous Wave 4 and triangle termination. It is seen to be trading around 1.1765 as we prepare this intraday update and should be ready to produce a counter trend rally soon. The wave structure is also looking clear with potential Wave 1 carved around 1.1760 for now. The drop between 1.1965 and 1.1761 is in 5 waves,...

harshjapee

US Dollar Index might have carved a meaningful bottom around 92.15 levels. The index has rallied through 93.00 handle as we prepare to publish this update and there is still room left for a push towards 93.40. Please note 93.40 was previous wave 4 and triangle termination. At the moment, the index seems to be working on a lower degree wave iv before pushing higher...

harshjapee

EURUSD might have potentially completed its first impulse wave since 1.1965 highs, or it should terminate below 1.1780 to complete. High probability remains for a top formed at 1.1965 and a break below 1.1780 will confirm. A larger degree corrective wave structure (expanded flat), might have terminated around 1.1965. If it is correct, we are in for a bearish move...

harshjapee

US Dollar Index is pushing lower as a thrust wave after completing the potential triangle count around 93.41 levels. This could be seen as the final wave lower to complete an impulse from 103.00 highs. Watch out for potential support just around the 92.00 mark, going forward. Looking at the larger degree, US Dollar Index seems to be completing a classic 5-3...

harshjapee

EURUSD sideways triangle might be complete around 1.1780 and it could be heading to print a shallow high above 1.1916. The previous high at 1.1916 just broke, and bulls manage to print higher towards 1.1930 mark. This could be the last sub wave to complete a larger degree corrective wave. EURUSD had dropped from 1.2555 through 1.0879 as an impulse wave. A...

harshjapee

US Dollar Index has dropped to 93.00/10 levels today, falling in line with what was discussed yesterday. If the rally between 92.52 is primary Wave (1), followed by Wave (2) corrective drop towards the fibonacci 0.618 retracement; the US Dollar Index might be setting up for a Wave (3) rally towards 96.00. Alternately, if 94.00 resistance holds, the index might...

harshjapee

EURUSD has rallied past 1.1836/40 resistance in line with expectations. High probability remains for a turn lower from here towards 1.1730 levels if a triangle is unfolding. The alternate labels represent a potential triangle formation, which could terminate around 1.1730 mark. If not, EURUSD is expected to break below 1.1700 and push towards 1.1370 as marked...

harshjapee

US Dollar Index had rallied from yesterday's low around 93.17, and managed to print higher towards 93.91 before pulling back today. It could be possible that the index might have completed its impulse wave that had begun since 92.52 earlier. If the above is correct, we might be witnessing a corrective drop towards 93.00 mark, which is fibonacci 0.618 retracement...

harshjapee

EURUSD had reversed from 1.1800 handle yesterday and managed to print a lower low at 1.1711 levels. As discussed earlier, this could be Wave 5 termination. If the above holds, it is safe to believe that a counter trend rally could be unfolding towards 1.1836/40 handle. The fibonacci 0.618 retracement of earlier drop passes through 1.1836 and high probability...