Gold will proceed to Fib level 1.236 , after a short retracement as per my analysis
Please see my idea for short on Silver Enter short only when conditions are met Dont rush into short blindy Manage risk properly for your hard earned money, every single dollar
Please see my analysis on CXY - We will most likely test the identified levels
SXY is still keeping its feet in ascending channel Three white soldiers show much stronger ascending momentum as compared to 3 bearish candles - today price at one point found support at .618 level Closure below .618 will see price testing .786 level - that will be last stop b4 break below ascending channel, after that we will head towards completion of ABCD...
Interesting situation developing for USDJPY pair on daily I pointed out earlier, strong seasonals for JPY in Q4 yearly There are no news on side of BOJ for strengthening Yen - US quantitative tightening is not ending soon Was Yen devalued more than necessary - are we going for a retracement in an uptrend ? Or is it a reversal - is ABCD complete ? AB and CD legs...
Gold will retrace before descending further - look for short at retracement for better entry - or you can wait for lower low break
BXY outlook for on daily is convincingly bearish - healthy bearish closure todays candle will be a further confirmation
I see ZXY as a good currency to enter long trades against for bullish index currency pairs until we test 1.382 level Offcourse - one must keep checking the validity of the trend daily basis
As I mentioned yesterday - seasonals will soon start supporting JPY - I am bearish on the pair since ZXY itself is in a descending channel as well
Pair will go lower - after last boost on DXY - price naturally retraced a little after the shock - and now in coming session it will test the support line at fib level .786 and can go much below
Trend will continue , we can enter a short with stoploss & target defined on the chart
Better enter at break of wedge & candle closure below previous higher low
Pair will continue in the descending channel - we can wait for pullback for better entry
USDCHF Pair will most likley continue the downtrend after failed attempt of reversal
It is not highly likely , but if despite strong dxy rejection happens - our reward will be pretty good