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EUR/CHF edges lower today but outlook remains unchanged. While further decline cannot be ruled out, we’d continue to expect strong support from 1.0629, which is close to 61.8% projection of 1.1476 to 1.0811 from 1.1059 at 1.0648, to contain downside and bring rebound. On the upside, break of 1.0737 resistance will confirm short term bottoming, on bullish...

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As long as 0.6774 resistance holds, further decline is expected in AUD/USD. Decisive break of 0.6670 low will confirm down trend resumption. Next near term target is 61.8% projection of 0.6933 to 0.6678 from 0.6774 at 0.6616 and then 100% projection at 0.6519. On the upside, break of 0.6774 resistance, however, will indicate short term bottoming and bring stronger rebound.

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USD/CAD stays on the upside with focus on 1.3327 resistance. As noted before, corrective pattern from 1.3664 should have completed as a triangle at 1.2951. Sustained break of 1.3327 resistance should confirm this bullish case and pave the way for retest of 1.3664 high. On the downside, below 1.3262 minor support will turn intraday bias neutral for consolidation...

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Gold prices are trading bullish around 1,571 as worse than expected unemployment rate from the U.S. is underpinning the precious metal today. On the lower side, gold's immediate support prevails around 1,568 area while resistance stays around 1,572 and 1,576. We may see sideways movement in gold today due to lack of economic events, so the buying and selling can...

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Dow Jones - Weekly chart in log scale.

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Example of Alternation Principle.

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Big picture, and application of the Alternation Principle describes by R.N Elliott.

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First chart.-

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EUR/JPY is staying in consolidation fro m119.77 temporary low and intraday bias remains neutral first. In case of stronger recovery, upside should be limited below 121.26 resistance to bring fall resumption. As noted before, corrective rise from 115.86 should be completed at 122.87, on bearish divergence condition in daily MACD. On the downside, break of 119.77...

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A temporary low is formed at 0.6678 in AUD/USD, just ahead of 0.6670 key support. Intraday bias is turned neutral for some consolidations. But upside of recovery should be limited by 0.6777 resistance to bring fall resumption. On the downside, decisive break of 0.6670 low will confirm resumption of larger down trend. Next target will be 0.6008 key support....

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USD/CAD’s rally is still in progress and intraday bias remains on the upside for 1.3327 resistance. As noted before, corrective pattern from 1.3664 should have completed as a triangle at 1.2951. Decisive break of 1.3327 should confirm this bullish case. On the downside, below 1.3231 minor support will turn intraday bias neutral first. But retreat should be...

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The global spread of the Corona virus will remain in support of gold gains for a longer period. On the downside, the closest support levels to gold prices, and the most appropriate to buy it now, are at 1569, 1555 and 1540, respectively. I still prefer to buy gold from every bearish level. The yellow metal will react to developments on the ground from the...

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UK PM Johnson´s statement on the UK’s future relationship with the EU spurred concerns. EU’s Chief Negotiator Barnier warned that the EU will defend locals’ interests. GBP/USD pierced the 1.3000 level, at risk of extending its slide toward 1.2908.

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AUD/USD’s fall from 0.7031 is still in progress and intraday bias remains on the downside. Sustained break of 0.6754 support will confirm our bearish view. That is, corrective rebound from 0.6670 has completed with three waves up to 0.7031. Retest of 0.6670 low should be seen next. On the upside, break of 0.6849 support turned resistance is needed to indicate...

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Intraday bias in USD/CAD remains on the upside as this point and further rise should be seen to 1.3327 resistance. We’re favoring the case that corrective pattern from 1.3664 has completed as a triangle at 1.2951. Break of 1.3327 should confirm this bullish view and pave the way for a retest on 1.3664 high. In any case, near term outlook will remain bullish as...

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Gold edged down on Tuesday from the previous session’s near three-week high as equities regained some ground, but concerns the coronavirus outbreak could impact the global economy cushioned safe-haven bullion’s losses.

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GBP/USD charted an outside day to the downside on Friday and it is possible that it will react back to its 1.2893 uptrend and while this holds we will assume that there is scope for a deeper recovery to the 1.3285 Fibonacci retracement.”

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Crude Oil Daily Chart.