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Bearish harmonic pattern

Daily Vision
The pair trend is bearish in daily time frame. Vital resistance is present at weekly close. In past few trading days, price has completed possible bearish impulse Wave-A and moved up.
Based on Elliott wave analysis, I now expect price action to print bullish Wave B. The trend is bearish and a good idea is to look for a sell trading chance to join the down trend after the end of bullish Wave B leg in current time frame or smaller time frame targeting 0.7223.
However, if bullish ca…
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The long term bias is still bullish on XAU/USD

Daily Vision

The XAUUSD was indecisive last week formed a Doji on weekly chart. The bias is neutral in nearest term but as long as stays above 1 695.23.
I still prefer a bullish intraday scenario at this phase targeting 1 685.23 region.
Immediate resistance is seen around 1 254.23. A clear break and daily close above that area could trigger further bullish pressure testing 1 654.23 region. Immediate support is seen around 1 232.23.
A clear break below that area could trigger further bearish pre…
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USD/CHF have been seeing a strong bearish market

Daily Vision

The USDCHF attempted to push lower yesterday bottomed at 0.9458 but closed higher at 0.9456 in another high volatile market.
We have been seeing a strong bearish market for the last two weeks where the pair slump more than 1000 pips without significant correction and the next potential target is seen around 0.9147 (weekly EMA 200).
The bias is bearish in nearest term. Immediate resistance is seen around 0.9914 . A clear break above that area could lead price to neutral zone in near…
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GBP/USD forming a strong bearish harmonic pattern

Daily Vision
The GBP/USD trend is bearish in daily time frame. Vital resistance is present at 1.3689 price level. In past few trading days, price has completed possible bearish impulse Wave-A and moved up.
Based on Elliott wave analysis, I now expect price action to print bullish Wave B. The trend is bearish and a good idea is to look for a sell trading chance to join the down trend after the end of bullish Wave B leg in current time frame or smaller time frame.
However, if bullish candlestick c…
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CHFJPY forming a bearish harmonic pattern

Weekly analysis
weekly RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance lines at the 118.47 level with a breach pushing the pair further towards the 118.75 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 118.65 level. All in all, the pair remains biased to the downside in the short term on correction.
Daily analysis

CHFJPY is at an interesting level as we’re currently at the top end of what to …
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EURUSD facing a strong trend line resistance

Daily analysis
EURUSD opened the week at 0.0526 and touched a high of 0.0636 . The pair then reversed directions and dropped to 0.0425 , as support held firm at 5026. The pair closed the week at 0.0746 . And the price of 0.0576 has been significant in the recent history of EURUSD , and with a mid-line of a down-ward sloping channel offering an additional impetus for support, top-side reversal setups became attractive as a 1-to-4 risk-reward ratio was available using that 0.0556 level for risk w…
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AUD/CAD Loses upside momentum

Daily analysis
Since 8 weeks, there is an uptrend rally at AUD/CAD. Without bigger correction, price gains more than a 800 pips. Today upward movement is continued and this year's top was broken above. AUD/CAD reached a 15 months high. Correction may begin at every moment, however it is likely that current movement will lead price to supports at 1.0130 or 1.0200. If one of that levels will cause rebound, nearest support is at 0.9970 level.

[u]Weekly analysis
[/u]Since November 11, AUD/CAD …
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GBP/USD forming a bearish pattern

Daily analysis

GBP/USD opened the week at 1.5187 and touched a high of 1.5190. The pair then reversed directions and dropped to 1.5028, as support held firm at 1.5026. The pair closed the week at 1.5031. and the price of 1.5000 has been significant in the recent history of GBP/USD; and with a mid-line of a down-ward sloping channel offering an additional impetus for support, top-side reversal setups became attractive as a 1-to-4 risk-reward ratio was available using that 1.5000 level for risk w…
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USD/JPY forming a bearish harmonic pattern

Daily analysis

126.59 has remained intact since May 2002. The very round number of 125 remains an important resistance line. 124.16 was an important cap in late June. The round number of 123 was tested for a second straight week and is currently a weak resistance line. It could see further action early in the week. 121.50 is providing strong support. This line was a key resistance line in September. 120.40, which was a swing low in July, is next. 119.19 has held firm since October. It is the fi…
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Long term bias is still short on EUR/USD

Daily analysis

The EUR continued to drive south last week, forcing weekly action deeper into the range demand zone seen at 1.0519-1.0798. Granted, the overall momentum on this pair has certainly diminished over the past two weeks, suggesting a last-minute rebound may be on the horizon from here. In the event that the sellers remain dominant, however, we can likely expect the current range demand to be consumed, and prices connect with demand seen just below it at 1.0333-1.0502.
Weekly an
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