EUSUSD developing flag?

The EURUSD H4 chart show that this pair may be developing a flag that may breakout in favour of the upside targetting 1.343 and 1.363. Support at 1.315 and 1.3.

 

The daily chart only show 3 doji in a row indicating indecisive market. The market may go up forming a c wave of the correction.

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AUDUSD may be forming a triangle breakout?

 

The chart pattern show that this pair is now resemble the past price action of forming a triangle breakout. it may or may not be forming a triangle breakout. However, remember that there are no indication that the future price will also follow the same direction. So set stoploss and trade cautiously. Support is now at 0.97~0.9750. Resistance at  0.989 and 0.9940.

 

The AUDUSD in daily show a bullish engulfing candlestick pattern. Long term target remain parity 1.0 at upside and 0.96 at downside.

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EURUSD forming small channel

 

From the chart the EURUSD is forming a small channel inside a big channel. Price is inside the support range. Support at 1.3150 and 1.3050. Resistance at 1.33 and 1.34.

 

 Price is trapped inside the small bearish channel. Breakout at the downside has the possibility to go to 1.3 while upside has the possibility to go to 1.34.

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Gold Daily

If yesterday low is higher low & does not drop below the up channel then W5 is coming.
If it break the up channel previous is a correction wave & may drop to around 1352 support level.

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AUDUSD 9 dec

 

AUDUSD yesterday rebound at the retracement of 50%. Now already going up, AUD has the possibility to retest the upside resistance of 0.9950 which is the neckline for the inverse H&S. The support should be at 0.975 which is yesterday low.

 

 The candlestick is still an inside bar. The break on either side should be a strong one. Fundamentally, the morning employment data on AUD should boost this pair.

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EURUSD at top side of channel

EURUSD now at the topside of the down channel. The price need to have a clear break of H4 to go higher to 1.34. The price is going up now and may test the 100 MA for a third time. Upside target is 1.34 and 1.36. The nearest downside support is 1.318 to 1.32 followed by 1.315 and 1.3.

 

Yesterday candle form a doji and now in the process of forming a morning star. However the candle has not closed yet and the pair is still inside the down channel and below 21 MA. Today is the forth candle of an inside bar of the big big bullish candle. 

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Gold maybe at support

 

Gold maybe at support level if this is a wave 4. Gold is still inside its uptrend channel. A break of the channel had the possibility to bring gold prices down to 1345. Upside resistance should be 1400 and area around new high of 1425 to 1430.

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GOLD maybe setting up wave 4

 

 W3 is finish. W4 is coming. Support at  the circle area of 1382.

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AUDUSD pull back after fail breaking 0.995

 

AUDUSD now pulling back after fail to get a clear break of 0.995. Maybe going for a pullback of wave 2 after strong wave 1. Support at 0.97 and resistance at 0.995.  

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EURUSD enter long term downtrend channel

 

The EURUSD pullback inside the downtrend channel. Maybe going for a wave 5. Major support at 1.2950 and 1.2550 to 1.2650. 

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AUDUSD yesterday post still valid

 

Now at sideline. Upside target at 1.00 

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EURUSD indecisive

 

EURUSD may go back up to 1.34-1.3450. Intermediate support at 1.325.

 

 If wave 1, the upside target at 1.36.  

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Gold Rush 6 Dec 2010

 

Gold is now in W3. If it cannot break the blue resistance area, W4 will come in. It already reach 161.8 target in W3 

 

 The yellow area is the support area & blue area is the resistance area.

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AUDUSD maybe in wave 1

The price broke through the channel and now pulling back. May pullback to 0.9850 or 0.978 to test the H&S neckline if the uptrend channel is intact. The next support is at 0.970 to 0.973. For uptrend, daily target is 1.000 parity level.

Price had not yet exceeded the previous high of 0.9950. Strong breakout of the high will bring the price to the all time high of 1.017.

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EURUSD in critical point

 

The EURUSD is now at the short term up trendline and long term down trendline. May experience pullback to 1.33 and the market will decide which way it will go. If in uptrend the market had the possibility to go to 1.35 or 1.36 in a few days.

 

Daily market indicate a very strong uptrend. Now testing 1.33 support level. Next support at 1.32

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AUDUSD may be in critical turning point

 

If following the H4 channel, price may pullback to 0.971 before rebound. 

 

 According to Elliott wave counting, we are at one of the turning point if we wan to know if this is wave 4 or wave 1. However, always be open to whatever possibility. If the price push above the yesterday high of 0.9777, then there are a big possibility that the price will go to the next resistance of 0.990 to 0.995. So trade cautiously and set stoploss.

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EURUSD in bullish channel

 

The EURUSD now at uptrend at lower time frame and staling at the inverse H&S neckline. It may dropped back to 1.316 before going up again targeting 1.34 for the inverse H&S.

If the current wave is wave 4, the target is 1.34 or 1.36 depending on condition. The price may stall at this level before continue. Until proven otherwise, we will assume the current wave is wave 4.

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AUDUSD support hold and set a fantastic rebound

 

The AUDUSD rebound from the support with a morning star candle. The bearish sentiment had been replaced by bullish. This pair had a possibility to test the resistance of the H&S neckline at 0.977. 

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EURUSD at wave 1 or wave 4 correction

 

The EURUSD had big possibility already in a wave 4 correction or beginning of wave 1. The bullish engulfing on a daily candle reinforce this and we may see the possibility of price go to 1.33 or 1.34 in next few days. Yesterday big move up had change the sentiment of the investor from bearish to bullish. Fundamentally, US give full support for the bailout of EU via IMF funding. The news set the Wall Street for a big gain overnight and encourage risk taking on the investor. The EURUSD may already be way oversold and bound for a correction.

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EURUSD ready for a rebound

 

The EURUSD is in multiple fibo level waiting for a rebound.  

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