GustavFourie96

GustavFourie96 Updated 

Please judge my Elliot wave. Possible price drop to the bottom side of the current wedge plus cross-over sell signal on MACD.

GustavFourie96

Possible megaphone?

GustavFourie96

The Peoples Bank of China has been tightening their liquidity since October 2020 and the bank drained a net 150 billion yuan ($23 billion) of funds this week using open-market operations (the largest such amount since October.) This roll back of liquidity in China is expected to weigh on commodity prices as the year progresses. The Volatility S&P 500 Index (VIX)...

GustavFourie96

Possible move towards 95.515 before dollar index attempts to break the channel to the downside. Sustained commodity price increases will negatively affect the dollar.

GustavFourie96

A daily close above 90.0 could see the index move up to the 38.2% retracement level from the 2008 dollar rally. I'm very new to the elliot wave, please call me out if this is BS.

GustavFourie96

Minor breakout above the short term channel, MACD cross-over buy and dollar gains today will generate a "three white soldiers" candle pattern. Possible move towards 15.40.

GustavFourie96

The dollar index was caught by the upward parallel channel from 2008. A break above the resistance level at 91.780 will allow the index to turn the trend and move into the target range in 1Q2021. Economic recovery in the US remains sluggish however and continued stimulus is not positive for the greenback (Latest stimulus agreement concluded yesterday = $900...

GustavFourie96

Old target range is at jeopardy following the break below 15.00 this week. Revised target (15.50 and 15.64). A break above 15.36 could be a signal for a turn of trend and a possible bottom-out. The MACD is still holding a buy-signal and a move towards the 50-day EMA looks likely as dollar short sellers will look to close their short positions before year-end....

GustavFourie96 Updated 

The pair is confined by the range of 15.10 and 15.45. I favour an upside break out of this range with the support rate of 15.08 expected to hold this month. A break above 15.45 will allow the pair to move up towards 15.61 and possibly the upper bound of the current channel. This sets a target range between of 15.93 and 16.00 for the month of Dezemba.

GustavFourie96 Updated 

I've been calling this pair short since August, to my own demise... I did not see the channel break on the 25th of November but I recon today is short day. Looking to enter at 1.2100, take profit around 1.2000 if it drops that low.

GustavFourie96 Updated 

The November risk currency rally is loosing some steam which has the USD/ZAR pair struggling to break the major support rate of 15.08/.09, which is on the trend line from from March 2018 and the 78.6% Fibonacci retracement level from Covid dollar rush back in February and March this year. A break below 15.08 will allow the pair to move into the support range...

GustavFourie96

Possible drop towards major support rate of $13620 before breaking ATH.

GustavFourie96

Possible move into the green target range this week and a possible test of the 50 day Moving Average. There may be a wedge developing on the DXY (two blue lines). If that is the case, we can expect the USD to remain stable through December into the new year.

GustavFourie96

Break below the 50-day EMA will allow the pair to drop towards the bottom of the current channel to complete the Elliot ABC corrective pattern.

GustavFourie96

Possible expanding triangle on EUR/USD. Target range 1.1436-1.1500

GustavFourie96

The pair in currently being squeezed by the 50- and 200-day EMA rates. A break above the 50-day EMA is expected which will allow the pair to break above the downward channel. Some resistance is expected in the yellow range . A move into target range 1 is expected and a break above will allow the pair to top out in range 2 . A break below 16.50 will allow the...

GustavFourie96

A break below 1.17 will allow the pair to drop towards 1.158. Failed support at 1.158 is expected to move the pair towards the target rate of 1.143 which is just below my previous target range between 1.145 and 1.55. RSI is in the overbought zone and the 12-day- looks set to cross below the 26 day exponential on the MACD.

GustavFourie96

A sustained break above 1.175 will allow the pair to move to 1.21 and break the downward channel. A failed sustained break above 1.175 will allow for a reversion to 1.145 and 1.155.