GBP/USD appears poised for a bearish move on the 4-hour timeframe, as it adheres to a descending channel pattern. Currently approaching the resistance trendline of the channel and a 78% retracement level, traders should await confirmation of bearish momentum before considering short positions. Observing for price rejection or bearish candlestick patterns near...
In the weekly timeframe, BTCUSD exhibits a bullish trend, although it's currently undergoing an Elliott correction wave (ABC), typically retracing between 50% to 61% of the previous move. Waiting for confirmation through bullish price action within this correction zone can provide a strategic entry point for buying opportunities, aligning with the overall upward...
Gold appears to be exhibiting a bullish trend on the 4-hour timeframe following a breakout from a descending channel pattern. It's advisable to wait for a retracement between 61% to 50% before considering entry, ensuring potential bullish rejection signals for confirmation. This strategy aims to capitalize on the momentum of the breakout while mitigating risk...
XAGUSD appears to be exhibiting a bullish trend on the daily timeframe, supported by an ascending channel and ABC pattern. The recent falling wedge breakout followed by a successful retest suggests further upside potential. It's prudent to await confirmation through bullish price action before considering entry into the market.
In the 30-minute timeframe, gold appears bullish as it forms a bullish flag pattern, typically indicating a continuation of the previous uptrend. Moreover, the recent impulse move after completing a 61% retracement suggests renewed buying interest and potential upward momentum. Traders may consider monitoring for a breakout above the flag pattern's resistance for...
In AUD/JPY's daily timeframe, a bearish trend appears evident, characterized by a bearish reversal rising wedge pattern formation. Additionally, the completion of Elliott's 5th wave suggests a potential downward movement, typically followed by an ABC correction pattern. This confluence of technical indicators signals a probable continuation of the bearish...
In the 1-hour timeframe, gold appears to be exhibiting a bullish pattern known as an inverted head and shoulders formation. This pattern typically signals a potential trend reversal from bearish to bullish. Traders may interpret this setup as a signal to anticipate a bullish move in the price of gold in the near term. However, confirmation through increased...
In the EUR/CAD pair, a bearish trend appears evident in the daily timeframe following a symmetrical triangle breakout. The completion of a 61% retracement, coupled with the formation of Elliott's 4th wave, suggests downward momentum. As price action progresses, anticipation of the completion of Elliott's 5th wave reinforces the bearish sentiment, potentially...
GBP/CHF appears poised for a bullish move on the 4-hour timeframe, supported by an ascending channel and an ABC pattern formation. Additionally, a breakout from a bullish pennant pattern suggests further upward momentum. Traders may consider entering long positions to capitalize on the anticipated bullish trend continuation.
EUR/NZD shows signs of a bullish move on the 4-hour timeframe, tracking within a descending channel and potentially forming a double bottom pattern. Traders could consider initiating long positions following bullish price action confirmation, anticipating a reversal from the current downtrend. Keep a close watch for breakout signals and consider buying...
GBP/JPY appears poised for a bearish move on the 4-hour timeframe, exhibiting a reversal pattern with both a rising wedge and a double top formation. Additionally, the completion of the Elliott Wave 5th wave suggests further downside potential. Traders may consider entering short positions upon the breakout of the rising wedge and a breach of key support levels...
It appears that USOIL is poised for a bearish trend following its completion of the fifth Elliott wave within an ascending channel and a double top pattern formation. The recent breakout from a rising wedge suggests a potential continuation of this downward movement. Traders may consider selling positions as the technical indicators align with this bearish outlook.
EUR/AUD appears to be experiencing a bearish momentum as it breaks below the support trendline of an ascending triangle pattern. This breach suggests potential downward pressure on the pair, signaling a shift in market sentiment towards the Australian dollar against the euro. Traders may look for confirmation through increased selling volume and further downside...
In the AUD/CAD pair's daily timeframe, a bullish trend seems to be emerging. After completing a 61% correction following a breakout from a falling wedge pattern, the Elliott wave theory suggests a potential ABC pattern forming. This sequence typically indicates a continuation of the previous trend, signaling a possible upward movement in the pair's price action....
Based on the daily timeframe, eurjpy appears to be adhering to an ascending channel, with the completion of the 5th Elliott wave and the subsequent ABC wave pattern. Currently, it has reached a 78% retracement of the last impulse move, indicating a potential reversal. As the (B) wave concludes, the price is likely to descend further to complete the (C) wave,...
In the USD/CHF pair's daily timeframe, a bearish trend is emerging as the price adheres to a descending channel pattern and ABC corrective structure. With completion of the B wave, the ongoing correction has already retraced around 50%. This suggests a potential continuation towards the C wave, signaling further downside momentum in the upcoming impulse move.
In the AUD/USD pair's 4-hour timeframe, a bullish trend appears imminent following the completion of a 5th wave and a breakout from a falling wedge pattern. Entry occurred post-breakout above key resistance levels. Presently, the price action suggests a correction in line with Elliott Wave theory (ABC pattern), potentially signaling further upside momentum in the...
Gold's bullish trend on the daily timeframe is supported by an ascending channel and an ABC pattern. Initially, a downward move occurred due to a symmetrical triangle breakout, leading to a 78% retracement. However, a subsequent bullish rejection signals the potential for a long-term bullish trajectory, aligning with the prevailing upward momentum. Traders should...