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EUR/USD is going to appretiate to 1.11 levels in May. Price has potential to move above and force 61.8% Fibo retracament on strong Euro demand. At 1st of June I expect price to settle around 1.105 levels.
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USD/CAD
USD/CAD broke from long term consolidation and currently is moving upward to 61.8% Fibonacci retracment at 1.3841. In coming month the price will likely move higher in first two weeks but then it will retrace to 1.37 levels. Bullish trend is likely to stay
Long term bias is still bullish
Daily Vision
The pair was indecisive last week formed a Doji on weekly chart. The bias is neutral in nearest term but as long as stays above support area.
I still prefer a bullish intraday scenario at this phase targeting 1.9959.
Immediate resistance is seen around daily close. A clear break and daily close above that area could trigger further bullish pressure testing some resistance areas. While an immediate support is seen around weekly close.
A clear break below that area could trigger…
The pair was indecisive last week formed a Doji on weekly chart. The bias is neutral in nearest term but as long as stays above support area.
I still prefer a bullish intraday scenario at this phase targeting 1.9959.
Immediate resistance is seen around daily close. A clear break and daily close above that area could trigger further bullish pressure testing some resistance areas. While an immediate support is seen around weekly close.
A clear break below that area could trigger…
XAGUSD forming a bearish harmonic pattern
Daily Vision
The XAGUSD trend is bearish in daily time frame. Vital resistance is present at 14.5658 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 candlestic…
The XAGUSD trend is bearish in daily time frame. Vital resistance is present at 14.5658 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 candlestic…
GBP/CHF-Retrace,reach & break 1.50 again?
Charts: 4Hours, 1 Day.
Indicators: Fibonacci Fan Lines,Support & Resistance Levels , MACD, EMA 200,100,50.
Current Level : 1.4801
GBP/CHF is one of the series of high volatility currency pairs that not only translates in daily sharp moves but also the range between this pair moves from one month to another is very high. For example the last two bearish and bullish moves that occured in December sum up over 1200 pips which is quite a number for a single month.One the image bellow we can see…
NZDCAD- Retrace Lower !
Charts: 4Hours, 1 Day.
Indicators: Fibonacci Fan Lines,Support & Resistance Levels , MACD, EMA 200,100,50.
Current Level :0.8613
NZDCAD reached a major resistance zone at the same level with the previous one as can be seen very well in the chart below ,at (0.8783) price level.From there the trend pulled back lower . I think it will continue the bearish trend and probably will encounter some supports on the road at (0.8522) & (0.8402) price levels which were previous important resistances.…
Indicators: Fibonacci Fan Lines,Support & Resistance Levels , MACD, EMA 200,100,50.
Current Level :0.8613
NZDCAD reached a major resistance zone at the same level with the previous one as can be seen very well in the chart below ,at (0.8783) price level.From there the trend pulled back lower . I think it will continue the bearish trend and probably will encounter some supports on the road at (0.8522) & (0.8402) price levels which were previous important resistances.…
USD/CAD expecting continuation upward.
During this quarter the instrument found support near 1.000 which is an important key price level and round number (1). In the first chart here below we also see the quarterly opening 1.0171 (2) and previous top 1.0341 (3). This current candle will close with the end of June so to better understand the whole situation I would consider the following chart showing the instrument in weekly timeframe: Still points '1-2-3' show us the quarterly low, open and previous high. In the chart it is very n…