marcyacoub

marcyacoub

Analyzing AUD/CHF on the 4H timeframe, we can spot a falling wedge formation inside a bigger descending continuation pattern, hence the gravity is now to the upside. Additionally, the price broke the falling wedge and is currently retesting it making it a great buy opportunity for a long-term trade. Our first target for this trade is 0.6669. Breaking above this...

marcyacoub

Price Action wise, USD/CHF just reached the upper band of the ascending formation at around 0.9592 making it a great short opportunity. Also, according to the Elliott Wave theory, USD/CHF looks like it may have finished 5 waves up (small cycle), hence a small corrective ABC cycle is expected. If the price manages to break the ascending channel , our first target...

marcyacoub

Looking at EUR/GBP on the 4H timeframe, we can spot a descending formation which is considered a reversal pattern if broken to the upside. Additionally, the price is currently trading inside a falling wedge formation inside the bigger descending, thus breaking the falling wedge could be a great setup for a beautiful buy opportunity. Our first target for this...

marcyacoub

Looking at NASDAQ on the bigger timeframe, we can see that the price just reached the upper trendline of the weekly descending, which is also the 200% Fibonacci Extension level, hence we should keep monitoring this area as any pullback could be a great short opportunity. Additionally, on the 4H timeframe, the price is trading inside a rising wedge inside a...

marcyacoub

After retesting 29,000, US30 hasn't stopped going up and is currently trading near a very critical area. Not breaking above the 161.8% Fibonacci Extension zone may be a great short opportunity. If the price keeps hovering around this area, look for a short opportunity towards retesting 32,741 as our first target. Breaking below this level will push the price...

marcyacoub

Looking at Gold after today's CPI data, the price may have finished 5 waves up, hence an ABC correction is expected. Since wave 5 is a rising wedge formation, I expect our first target to be $1,771, and $1,755 as our 2nd target as this level is considered to be the beginning of the rising wedge and the previous wave 4 at the same time according to the Elliott Wave...

marcyacoub

Looking at Gold, the price is trading inside a rising wedge formation near the $1,780 zone which is a very critical area for Gold. Breaking this wedge to the downside will push the price towards $1,759 our first target. If the price manages to continue its way down, our second target will be the beginning of the ascending formation at around $1,739. If $1,739...

marcyacoub

Because of the Russia-Ukraine conflict, Oil prices soared and managed to retest previous highs; but since then, the war is now priced in and Oil is now experiencing a solid correction. Looking at Oil from a technical perspective, the price is trading inside a descending channel (downtrend). It is currently retesting the upper trendline with a bearish continuation...

marcyacoub

Looking at AUD/CAD from a price action perspective, the price is currently breaking out of the ascending formation, thus we are aiming for a short opportunity towards 0.8908 as our first target. If the price manages to break below 0.8908, we will be looking for 0.8863 and 0.8836 in extension. Last but not least, AUD/CAD looks like it finished 5 waves up and at...

marcyacoub

Looking at the 2H chart, we can see that EUR/CAD is hovering around a very critical weekly zone (1.2988) inside a descending formation which is known to be a reversal pattern if broken. If the price doesn't manage to break below the 1.2989 zone, I expect a reversal towards retesting previous levels such as 1.3087, 1.32024, and 1.32712 as our targets for this...

marcyacoub

Looking at the 1H chart, we can see that the price broke below the bigger ascending formation and is currently retesting it. JPY pairs have been soaring a lot during the last 3 months, hence a correction is definitely needed. As long as we are below the 166.000 high key area, I will remain bearish on GBP/JPY. Our first target for this trade will be the beginning...

marcyacoub

Using only price action analysis, EUR/JPY broke the daily rising wedge formation and now is currently retesting the lower trendline with an ascending channel. If the price manages to break below the smaller ascending, our first target is going to be the beginning of the channel at around 137.38. Breaking below this zone may push the price for further downside...

marcyacoub

Looking at the whole crypto market, it looks like we still haven't reached the bottom yet. Looking at XRP/USDT, the price may have finished 5 waves up (intermediate cycle), thus a correction is now expected. Also, zooming in at wave 5, we can spot a rising wedge formation which makes the possibility of a correction more valid. If the price manages to go down,...

marcyacoub

Looking at US30 on the 15 min timeframe, we can spot that the price may have finished 5 waves up (small cycle), hence a 3-wave correction is expected. Also, the price is retesting the 161.8% Fibonacci Extension critical level (31389) with a rising wedge formation which is considered a reversal pattern for a downside correction, thus our first target for this trade...

marcyacoub

Today, the Euro reached parity with the Dollar for the first time in 20 years, this means that all Dollar-denominated pairs have now reached critical levels and a small correction at least is needed. From a technical perspective, the price is currently trading inside a beautiful rising wedge formation which is a reversal pattern for a downside correction....

marcyacoub

Looking at the 15 min chart, we can spot a beautiful continuation upside which may be a great opportunity for us to capitalize on a long opportunity for at least 150-200 pips. Moreover, the price is hovering around the 61.8% Fibonacci Retracement strong support level, in addition to breaking out of the falling wedge formation inside the bigger descending signaling...

marcyacoub

As you can see, the price is trading inside an ascending formation which also looks like a bearish continuation pattern. If the price manages to break below this ascending formation, our first target will be the 61.8% Fibonacci Extension level at 0.8514. Breaking below 0.8514 will push the price for further continuation towards the beginning of the channel at...

marcyacoub

Beautiful formation on WTI Crude Oil. Looking at the 4H timeframe, we can see that the price is hovering around a very high key area near $120.00 in addition to retesting the upper trendline of the big ascending formation. Not breaking above this zone will be an amazing short opportunity to retest previous lows. Our first target for this trade will be the...