harshjapee

harshjapee

US Dollar Index is seen to be trading around 93.20 levels around this time, carving a potential Wave 4 as marked on the chart here. If an impulse is in the making, prices should ideally stay above 92.95 zone, and proceed higher towards 94.00 to terminate Wave 5. An impulse wave would confirm that US Dollar Index is heading north after a corrective pullback....

harshjapee

EURUSD has been carving lower highs and lower lows since 1.1915 mark. The currency might be terminating a potential Wave 4 around 1.1800 levels. If it is an impulse wave, prices should stay below 1.1840, and continue lower towards fibonacci 0.618 extension, which is seen towards 1.1685/90. The above would complete first impulse drop on the hourly chart and a...

harshjapee

EURUSD had managed to hit intraday highs around 1.1381 levels just a few minutes back. It might not be the time to go long yet looking at bearish divergence on the RSI. Also, US Dollar Index is still holding above 96.27 lows, yet another divergence. A sharp reversal could be in the making and potentially push EURO below 1.1330 levels. Alternately, if bulls manage...

harshjapee

The daily chart for USDJPY looks to be constructive for bulls till price action remains above 104.80/105.00 levels. A higher degree wave C seems to be underway, and Waves (1) and (2) within the impulse seem to be in place already. The USDJPY might have formed a meaningful bottom at 106.80/90 levels or might print yet another low as an alternate possibility but...

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Since the triangle termination E at $1266/67 in May 2019, the metal seems to have completed an impulse as labelled here. The (5)th Wave potentially terminated at $1452/53, could have reached $1460/65 as well. On lower timeframes, the drop between $1455 through $1414, can be termed as Wave A which was followed by a 3 wave corrective rally through $1435/36 (a-b-c...

harshjapee

Expect Wave Y to progress further from here on...

harshjapee

We again bring forth the daily chart setup for Gold, which is into its last leg within the triangle consolidation structure (wave E). At the moment, there is no change in the proposed direction but watch out for a probable short term resistance towards $1220 mark. Please note that $1220/25 level could be wave a, within the probable a-b-c corrective rally. It could...

harshjapee

The daily chart view for GBPUSD could be suggesting that a 5 wave impulse drop might be complete at 1.2650/60 levels last week. The subsequent rally could be indicative of a meaningful bottom in place and that bulls are expected to remain in control till prices stay above 1.2660 levels, going further. Furthermore, please note that a push through 1.2950/60 levels,...

harshjapee

In our discussion yesterday, we had kept the alternate count probability for a potential new high ( above 97.00) before dropping lower, as open. Today, as we see prices dropping below 95.50 level, the alternate probability can be possibly ruled out for now. Considering that 96.98 levels could be a meaningful top in place, the corrective (3 wave, A-B-C) drop, is...

harshjapee

In our discussion yesterday, we had kept an alternate count of yet another potential low, to be open as the corrective rally looked 3 waves. With EURUSD pair pushing above 1.1520/30 level in a rush, the alternate is ruled out for now, indicating a meaningful bottom in place at 1.1301 last week. The daily chart view presented here, instills further confidence into...

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The 4H chart view for Dow Jones might be suggesting that an A-B-C potential flat still remains intact, even after intraday highs at 25720/30 levels today (futures). Looking at the entire wave structure from Jan-Feb 2018, the indie had dropped lower 5 waves to 23,000 levels, forming an impulse. The expected corrective rally turned out to be a complex A-B-C flat as...

harshjapee

Gold, daily chart view presented here is suggesting that the overall triangle structure looks to be intact. As seen here, the probability of wave D having terminated at $1160 looks true. The contracting triangle formation since December 2017, could be well into its last wave E as highlighted here. If this holds good, we could see the yellow metal rising through...

harshjapee

The US Dollar Index, 4H view might be suggesting a potential bounce around current price action (96.20/30). Keeping our previous discussions intact, we are presenting an alternate wave count, which could be wave 4 (of a lower degree) termination at 94.10 lows today. If Looking at the drop fro 97.00 levels, the US Dollar Index has unfolded into 3 waves A-B-C, until...

harshjapee

The 4H time frame for EURUSD might be suggesting an alternate count that is presented here. Please note that the pair has pushed higher from potential bottom at 1.1301 level as discussed last week. Looking at the wave structure, the rally looks to be in 3 waves A-B-C, until now. The pair is expected to be facing resistance around 1.1450/60 and also note that wave...

harshjapee

The daily chart view for Dow Jones Industrial Average is suggesting that the indice might be completing an A-B-C flat correction (labelled here as (2) or (B)). Looking at the entire wave structure since early 2018, the Dow Jones had dropped in an impulse wave from sub 27000 through 23000 levels, labelled as wave (1) or (A) here. The subsequent complex corrective...

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A 4H chart displayed here might be indicating that the yellow metal probably terminated into Wave D around $1,160 levels, within the overall potential triangle consolidation discussed earlier. The subsequent rally yesterday through $1183/84 levels could be the beginning of a potential impulse wave towards $1206 and up to $1225/30 levels as labelled of the chart...

harshjapee

The US Dollar 4H chart presented today might be indicating that the indice might have formed a potential top close to 97.00 levels and that a corrective drop could be progressing now. The intraday drop yesterday, could possibly be the first leg towards the corrective drop discussed. Also note that after termination of wave ((4)) (higher degree) around 95.00 levels...

harshjapee

The EURUSD pair's short term wave setups have been highlighted here. The termination point of wave ((4)) (higher degree) of the proposed triangle was around 1.1740/50 levels. We could count an impulse drop from there towards 1.1301 levels. This lower degree wave structure might be indication that a short/medium term potential bottom could be in place at 1.1300...