PetrBorosh

PetrBorosh

- in Dec 23 CHF was at highest levels since Asian Crisis in 2015 - most likely due to geopolitical dangers in Europe - since then it rebound to the technical resistance at 0.90 (AB=CD) + Bearish Gartley D point, which has been recognized by the market, not respected yet - SNB cut rates recently and will most likely continue doing so: the bankruptcies are at...

PetrBorosh

- markets expect rate cuts staring Jun 24 - positive data from US economy - USD probably will weaken (temporarily) against EUR, GBP, AUD and JPY - GBP at strong support cluster: Bullish Gartley D point + ABC correction at 1.25988 - potentially price may rally up to resistance at 1.27500

PetrBorosh

- market expects weakening $ - BOJ raised IR, although market ignored initially - price at technical resistance resistance

PetrBorosh

TA: 1. Proce went down to the very important support cluster: - Mar ’20 Low Close - Fibo Extension 1.618 - perfectly aligned with the above. - Yet price respected all previous levels of the mentioned FE 2. Price remains in a consolidation zone since mid Aug 23 loosing the bearish momentum 3. W1 RSI is rising, getting closer to 50. 4. Next Resistance:...

PetrBorosh

- Price at Fibo Ret 0.618 - often respected - Head and Shoulders pattern - Demand for AUD can be driven by potential China acceleration - USD expected to weaken due to slowing economy - potential rate cuts Altogether - potential LONG on AUD

PetrBorosh

- the market expects USD to weaken over the next months due to potential rate cuts this year - from technical standpoint USDJPY is at very important resistance, created by gigantic 1:1 formation which started in Oct 2011 (yes 2011), then was respected by the market in Oct 2022 and Feb 2023. - Now the FE 100% is just being retested. If it is respected, the price...

PetrBorosh

- German economy is not in its best condition ever, no signals for rapid change in this matter - hiper optimism is still present out there and no signals it is going anywhere - technical levels work only if many traders observe them, - technical levels dont work if traders just buy without giving it a single thought - which is happening right now - thus this...

PetrBorosh

- Today Bloomberg wrote of a huge cash to be injected in the Chinese mainland stock market - $278 B - they must have noticed that there is a HAS and Gartey pattern on BABA W1 chart and decided to do it right now - so... shall we?

PetrBorosh

- the price seems to create a multi-day reversed HAS pattern - getting to its right shoulder. Do you think it will respect it?

PetrBorosh

- EUR broke down form reversal cluster (previous idea), now getting to the support cluster - I believe it will respect the support, but only temporarily, to test the channel from outside and will continue down to parity

PetrBorosh

- $ is still expected to weaken as 6 FED rate cuts are predicted (and naively believed) - price got to the important technical level - support cluster created by the Bullish Gartley Pattern and FE 0.5-0.618 of the latest uptrend impulse. - If the level is respected, it will most likely move the price up to 0.6738, and - in my opinion, the price will revet down....

PetrBorosh

The price is getting to the support cluster at $2009. Technically the support is created by ideally aligned FR 61.8% + FR 38.2% + top form Oct 27th + trend line. Yet the expectation is that $ will get weaker over the next weeks due to expected rate cuts

PetrBorosh

- DAX is testing technical resistance at 17000 - German economy is in poor condition and there's not much hope for improvement in '24 - optimism on the market is still very high - small investors return to the stock market so the signals are very mixed. Will it fly or will it fall? This is the question :)

PetrBorosh

Technical Resistance cluster: - FR 61.8 of the downtrend impulse from May 21 to Sep 22 - FR 61.8 of the downtrend impulse from Jul 23 to Oct 23 - FE 61.8 of the uptrend impulse form Mar 23 to Jul 23 Price seems to react to the resistance. Potential Support at 1.2079

PetrBorosh

- stock rallies on dovish FED decisions expectations (over optimistic in my view) - price is completing a perfect Gartley patters, with D point at 1.11 - EUR is in long term downtrend which potentially will be continued

PetrBorosh

- Sentiment was improved last week, although I don't think it will last - Price completed the D1 Bearish Gartley combined with 1:1 and is now at the in the resistance Zone @ 33770 - Bond yields will probably not go up, so they are good alternative for stocks

PetrBorosh

- DAX rallied on the dovish Powell's conference - The price hit the resistance cluster at 1:1 + FR 61.8% + down-trend line - The fundamentals are still not very encouraging - Geopolitics don't help

PetrBorosh

Well - I guess this is what they mean saying that bears fall out of the window...