Our assumption is that the exchange rate has reached the bottom of its decline. No further falls are expected. This adjustment level can be given by an ATR axis that is identical to a valley axis. The rebound is initially uncertain. We expect a triple rising wave structure. The third wave target can reach 80 usd levels.
- Structure: Uptrend
- Candle: Reversal bullish
- Tendency: Upward
- Closed above support
- Tendency: Upward
- Broken trendline
- Closed above support and trendline
Please support the setup with your ...
Drop before the big jump. WTICOUSD is moving in a three wave structure with decreasing trend. It is currently building the correction structure of the second downward wave. Small ATR at slow speed. Starting from the 66 usd level, the construction of the last decreasing wave structure begins. Its target price is around 60-61 USD. At a larger time interval, it is ...
This week the BOC Gov Poloz spoke with a dovish tone, despite this the market took a bullish stance on CAD leading to some short term strength. The probability of a rate hike in July moved from 90% probability to 55% probability and has left investors disappointed.
Looking at the technical analysis we followed the higher timeframe uptrend leading to our upper ...
WTICOUSD correction comes. Two falling fractals can be identified in the exchange rate (red wave). The starting moment of the second wave structure is greater than the initial moment of the first fractal. As a result, the fractal structure of the second wave may increase with the ratio of the two moments. It's around 1.27. If the counting is correct, this ratio of ...
WTICOUSD rising wave motion. Currently, a flat ATR axle takes place, so I expect a recurrence wave to 57.16 usd. From this level of adjustment, a more steep rise can begin. For which purpose it is around 63.39 usd level. The second wave rises with a higher slope and velocity.
US crude oil - H4 chart - I prefer shorts due to bearish structure on H4 time frame. Main trend is still bullish so this is a reversal setup on daily time frame but with-trend pull back setup on H4 so quick swing with great risk to reward.
WTICOUSD corrects movement. The correction level of the exchange rate is visible at 51.43 usd level. From this level, I wait for a repeat rise. The height of the rise can be the same size as the previous wave. For the exchange rate it is a neighborhood of 67.79 usd. Probably this level is available for the first few days of February 2018.
Us crude oil - H4 timeframe. I see a pull back move in play on the weekly timeframe with targets of 52.60. On the H4 chart, I have identified a break-out pattern with a demand zone holding. Target is 52.50 and stops at 50, risk to reward 1:5
US crude oil longs in play - In my view, the weekly bearish trend is broken and the daily trend is now in a bullish structure. I see oil reaching 50s before stopping for another pull back then rallying again to 52s.