marcyacoub

marcyacoub

We have been waiting for so long for this beautiful shape to form. CAD/JPY reached a very high key area on the weekly chart with a rising wedge formation. For now, we are waiting for the break of the rising channel inside the yellow rising wedge in order to target 81.142 which is the bottom of the yellow rising channel. Breaking this level, which is also going...

marcyacoub

Federal Reserve Chairman Jerome Powell said Wednesday, a "patiently accommodative monetary policy stance" is important to boost the labor market and the overall economy following a stall in recent months, so more quantitative easing. Although it is not the best looking Elliott analysis looking at its shape, but staying above the critical zone could push silver...

marcyacoub

Last week's breakout saw Ether close in on the $1,800 target before the futures contracts launch. However, ETH achieved a new record high at $1,765 before a correction took precedence. As the uptrend rebuilds again, Ethereum seems to have the potential to hit new all-time highs above $2,000. As you can see, ETH/USD broke the ascending channel last week with 5...

marcyacoub

Congrats BTC holders ! Bitcoin (BTC/USD) has just hit a fresh all-time high after Tesla founder Elon Musk said that the company had invested USD1.5 billion in Bitcoin recently ‘and may acquire and hold digital assets from time to time or long-term’. Musk added that ‘moreover, we expect to begin accepting bitcoin as a form of payment for our products in the...

marcyacoub

AUD/CAD is trading at a very important resistance level as you can see (the 78.6% Fibonacci level). Also, a small rising wedge is shaping up for a beautiful breakout to the downside, possibly reaching 0.9783 as a first target, and if managed to break it, it has the potential to continue falling reaching 0.97569.

marcyacoub

Looking at the Daily Chart, WTI Crude Oil may have ended its Big Cycle with 5 big waves between parentheses and now we are waiting for the correction to occur, but there are 2 possible scenarios for this correction: 1- We could see a small correction to retest the previous wave 4 of (5) at $51.60/barrel before continuing its way up. 2- WTI Crude oil could extend...

marcyacoub

AUD/NZD broke the descending channel, and now we are looking for a retest before continuing its way up to target the 100% Fibonacci Extention level or the 61.8% Fibonacci Retracement level at (1.07288).

marcyacoub Updated 

The DXY, which is known to be the denominator or the main driver of the financial markets started its correction cycle at the beginning of January, and we expect for the month of February to see the DXY reaching the area before tickling its way back for more downside reaching the in 3-4 months from now. Looking at the chart above, we can see the DXY finishing...