04.11.2019

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, it’s been a month since the pair started moving sideways after the convergence. XAUUSD is getting closer to the high at 1519.57 and trying to break it for the third time. If the price breaks the high, the instrument may continue growing towards 76.0% fibo at 1533.08 and then the key high at 1557.00.

In the H1 chart, there is a convergence on MACD while the pair is trading close to the previous high at 1517.89, which means that the price is slowing down the current growth, which may be later followed by a new short-term pullback. If the instrument breaks the above-mentioned high, it may continue growing towards the post-correctional extension area between 138.2% and 161.8% fibo at 1531.80 and 1536.21 respectively.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, another descending impulse is heading towards the fractal low at 0.9840. If USDCHF breaks this level, the instrument may continue the mid-term descending tendency towards 61.8% and 76.0% fibo at 0.9801 and 0.9748 respectively.

In the H1 chart, there is a convergence on MACD, which may indicate a possible pullback. The upside correctional targets may be 23.6%, 38.2%, and 50.0% fibo at 0.9877, 0.9895, and 0.9910 respectively. the support is the low at 0.9849.

31.10.2019

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after completing a short-term pullback, the pair continues its ascending tendency and has already broken 38.2% fibo. The next targets may be 50.0% and 61.8% fibo at 0.6983 and 0.7956 respectively. At the same time, one should pay attention to the divergence on MACD, which may indicate a reverse after the instrument reaches the closest targets.

In the H1 chart, after finishing a quick rising impulse, AUDUSD has entered the post-correctional extension area between 138.2% and 161.8% fibo at 0.6911 and 0.6929 respectively. in the short-term, the price4 may start a new pullback, which may later be followed by further growth towards mid-term targets. The support is at 0.6809.

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD has corrected the previous descending wave with a quick ascending impulse. After reaching 50.0% fibo, the pair is forming a pullback. Possibly, the next rising impulse may reach 61.8% and 76.0% fibo at 1.3230 and 1.3273 respectively. If the price breaks the support at 1.3042, the instrument may continue the bearish trend towards the long-term low at 1.3015.

In the H1 chart, the pair is forming a pullback towards 38.2% fibo after finishing a quick ascending movement.

30.10.2019

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, there was a divergence on MACD, which made GBPUSD complete the rising wave at 76.0% fibo at 1.3040 and start a new pullback. The support is at 1.2670. after completing the correction, the instrument may start another rising impulse to reach the previous high at 1.30450 and then the key one at 1.3381.

The H1 chart shows more detailed structure of the current descending correction after the divergence. The pair has already reached 23.6% fibo, but may yet continue falling towards 38.2% and 50.0% fibo at 1.2699 and 1.2604. at the same time, there is a short-term convergence, which is slowing down the current decline.

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, there was a divergence on MACD, which made EURJPY finish the ascending wave at 76.0% fibo at 121.55 and start a new sideways movement. If the price breaks the resistance at 121.27 the pair may resume growing. The key target is the high at 123.36.

In the H1 chart, the pair has reached 23.6% fibo. In the future, the instrument may continue falling towards 38.2% and 50.0% fibo at 119.79 and 119.27 respectively.

29.10.2019

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, after reaching 50.0% fibo, EURUSD is correcting to reach the local support, which is 23.6% fibo at 1.1005. After finishing this descending correction, the pair may start a new wave to the upside to reach 61.8% and 76.0% fibo at 1.1208 and 1.1248 respectively. however, one should pay attention to long-term 23.6% fibo at 1.1275. If the price reaches this level, the instrument may reverse the current long-term tendency..

The H1 chart shows the more detailed structure of the current descending correction tendency that started after the divergence. Right now, the pair is getting closer to 38.2% fibo at 1.1064, while the next downside target may be 50.0% fibo at 1.1029. At the same time, there is a convergence on MACD. The resistance is the high at 1.1179.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, after completing the correction at 23.6% fibo and breaking the previous high, USDJPY is trying to fix above it to continue forming the rising tendency. The next upside targets are inside the post-correctional extension area between 138.2% and 161.8% fibo at 109.23 and 109.70 respectively; mid-term 61.8% fibo at 109.37 is also there. The key support is still at 106.48.

In the H1 chart, after breaking the high, the pair is slowing down. The target may be the downside border of the post-correctional extension area between 138.2% and 161.8% fibo at 109.23 and 109.70 respectively.

28.10.2019

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after completing the correctional downtrend at 76.0% fibo at 1473.60, XAUUSD is forming a new rising impulse, which is trying to break the local high at 1519.57. If the price breaks the high near this level, the instrument may continue growing towards 76.0% fibo at 1533.08 and then the key high at 1557.00.

In the H1 chart, the pair is slightly correcting after attempting to test the high. Possibly, the pullback may continue to reach 50.0% fibo.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, after finishing the descending correction at 50.0% fibo, USDCHF is trading upwards; this movement may be considered as a new correction to the upside. However, if the price fixes above 76.0% fibo and then the local high at 0.9996, the instrument may continue growing towards the key high at 1.0028. The key support is the low at 0.9840.

In the H1 chart, after testing 76.0% fibo, the pair has been forced to reverse by the divergence on MACD, which indicates a new decline towards 23.6%, 38.2%, and 50.0% fibo at 0.9931, 0.9914, and 0.9900 respectively.

Below upward sloping trend line.  

The EURUSD has reached the 100 pip mark for the week. Yippee. The range is up to 103 pips and in the process reached the upward sloping trend line on the hourly chart at 1.1079.  

On more selling the lower, downward sloping trend line comes in 1.1065 (and moving lower).  That is also near swing levels (see red numbered circles), and the 61.8% retracement at the 1.10626-647 area.