Finacademy

Finacademy

US Dollar Index had dropped through 90.85 mark yesterday, before finding support and bouncing back. It was the fibonacci 0.618 retracement of potential Wave (i) if 3 labelled on the chart here. The most probable wave structure is as follows: Waves 1 and 2 are in place around 91.58 and 89.70 levels respectively. Further lower degree waves (i) and (ii) are also in...

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Gold has carved a combination w-x-y as Wave 4 towards $1790 levels early this week. The yellow metal has reversed lower and also tested the highs today by rallying through $1788 mark before reversing again. The wave structure is clear with Waves 1, 2, 3 and 4 in place around $1802, $1875, $1676 and $1790 levels respectively. Also note that Wave 4 terminated around...

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EURUSD bulls had managed to push higher towards fibonacci 0.618 retracement of the recent down swing between 1.2242 and 1.1704 respectively yesterday. As expected, it has produced a bearish bounce and could turn lower towards 1.1300 mark in the next few weeks. The wave structure might be unfolding as follows: Waves 1 and 2 are in place at 1.2050 and 1.2242...

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EURUSD might be carving a potential Wave 4 higher towards 1.1850/60 or a bit deeper towards 1.1900 levels, before resuming lower towards 1.1600 as Wave 5 unfolds. The structure has unfolded into 3 waves lower until now with Wave 1 terminating around 1.2050, Wave 2 as a W-X-Y towards 1.2242 and potential Wave 3 around 1.1700/05 levels respectively. Ideally Wave 4...

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Gold has carved an intermediary low around $1678 recently and it might be correcting into an A-B-C (3-3-5) towards $1775, to terminate potential Wave 4. Thereafter, the metal is expected to turn lower towards $1650 and $1550 levels. In case of a running flat, Gold might have terminated Wave 4 today around $1738.50. Alternately the metal will unfold Wave C...

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US Dollar Index has carved Waves 1, 2 and potential 3 higher around 91.00, 89.70 and 93.45 levels respectively. If the preferred counts are correct, a potential Wave 4 could be underway towards 92.00, which is fibonacci 0.382 of Wave 3 as projected here. Alternately, if Wave 3 is extending, the corrective drop might reach 91.10 before turning bullish again. Either...

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US Dollar Index might have terminated Wave 3 around 93.17 today or could be close to terminating soon. If the above is correct, the index might drop towards 91.40/80 zone to carve Wave 4 lower, before resuming its rally towards 94.50. It could complete an impulse if unfolds accordingly signalling a much deeper rally towards 98.00 levels going forward. Remain long...

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Gold might have carved potential Wave 4 around $1756 levels earlier or might produce another rally towards $1770/75 before terminating Wave 4. The yellow metal is eventually targeting lower towards $1650 and $1550 but remains to be seen if it does from current levels or completes a larger degree A-B-C flat. A break above $1715 interim resistance would confirm Gold...

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EURUSD counts have been adjusted here with potential Wave 3 complete @ 1.1733 today. If the above counts are correct, EURO might prepare for a Wave 4 rally towards 1.1925/70 region anytime soon. A break above 1.1810 would confirm that bulls are underway for the above counter trend rally. Alternately, EURUSD might slip through 1.1600 before finding support...

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EURUSD seems to have print an interim low just below 1.1800 handle today. The currency might have carved waves a and b within the proposed a-b-c expanded flat corrective wave. If the above holds well, Gold could be well underway towards 1.2030/40 mark to terminate Wave (ii) of 3 lower towards 1.1600 and beyond. Ideally prices stay below 1.2242 levels to hold the...

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Gold prices are expected to drop towards $1650 and $1550 mark if Wave 5 has resumed from $1756. The metal has been drifting sideways since then and it might be preparing for yet another rally towards $1770/75 before reversing lower. It is not mandatory though but probability remains before turning lower again. We remain prepared to add more short positions around...

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US Dollar Index looks to be reversing from 92.70 highs today. The high probability wave count could be of an expanded flat in the making since 92.52 highs earlier; which has been marked as potential a-b of the proposed a-b-c structure. If correct, the indice could reverse sharply lower from here and drop through 90.70 or at least towards 91.30 levels respectively....

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US Dollar Index remains a clear buy on dips until prices stay above 89.70 and subsequently above 89.20 levels respectively. The recent wave structure could be Wave 3 in progress towards 93.50 and 94.00 levels, going forward. The rally between 89.70 and 92.50 has been marked as lower degree Wave i of 3 and Wave ii is expected to carve around 90.75 levels. The index...

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Gold has been drifting sideways within a ting range of $1728/40 levels, since hitting $1756 levels over the last week. Please note that the yellow metal had reversed from confluence of trend line and fibonacci 0.382 resistance around $1756. It is quite possible that Gold has terminated potential Wave 4, and is preparing to decline towards $1650 and $1550 mark to...

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EURUSD drops through 1.1890/1.1900 support intraday. The currency might be preparing to rally towards 1.2040/50 mark to complete an a-b-c within wave y. According to wave counts, it could be lower degree wave ii within Wave 3 lower towards 1.1600 levels respectively. For the above structure to remain valid, prices must stay above 1.1870 mark, going forward. Bears...

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Gold had dropped through $1728/29 lows today, before finding support. The yellow metal is seen trading higher around $1737 levels for now and might push through $1756 highs as well, The next levels of resistance is seen towards $1775/80 mark, close to fibonacci 0.618 of the drop between $1875 and $1676 levels respectively. A bearish turn there would bring bears...

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EURUSD might be unfolding a combination w-x-y to terminate potential lower degree wave ii around 1.2030/40 mark. It is expected to turn lower thereafter, and drop towards 1.1600 levels in the next few weeks. The wave structure indicates Wave 1 and 2 in place at 1.2040/50 and 1.2242 levels respectively; while Wave 3 is in progress. It would be interesting to see if...

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US Dollar Index might be preparing to drop lower from here, at least towards 91.00 mark. It is also possible for the index to find support at 90.75, which is fibonacci 0.618 retracement of the rally between 89.70 and 92.50 levels respectively. The wave structure suggests Wave 1 and 2 are in place around 90.94 and 89.70 levels, and that Wave 3 might be in progress...