Wave summary; The correction in wave [iv] is likely to be extending now, which means we are likely to see a small bounce towards 1.5865 before the final decline towards 1.5541 to complete wave [iv] and setting the stage for the next impulsive rally in wave [v] with an ideal target seen at 1.6655. R3: […]

Wave summary: The rally from 114.82 in wave A is close to exhaustion. As long as minor support at 121.98 is able to protect the downside, we could still see a final spike higher to the ideal 123.21 target, but it’s only a matter of time before wave A completes and wave B lower towards […]

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GOLD price remains in a bearish short-term trend, correcting the entire rise from $1,194. The price has reached the important Fibonacci support levels although the possibility of a move by $10-15 lower is still possible. Overall, my longer-term bullish view remains intact. Green rectangle – support area Blue lines – bearish channel Gold price has […]

Wave summary: Wave [iii] completed slightly lower than expected at 1.5940 and wave [iv] declined to 1.5686. Wave [v] higher towards 1.6655 could now be developing. It’s possible that wave [iv] needs a little more time and sideways movement to get completed, but once it happens, a strong rally higher towards 1.6655 should be expected. […]

Wave summary: There was no time for a deeper corrective decline in wave iv, and wave v higher to 123.21 is already unfolding. Once wave v and A are completed, we should see a new corrective decline towards at least 120.57 and possibly even closer to 119.01 to complete wave B and set the stage […]

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Recently, the GOLD has been trading sideways at the price of $1,262.00. According to the 4H time frame, I found that the price rejected the key supply trendline. My advice is to watch for selling opportunities. I also found a bearish divergence on the moving average oscilator, which is another sign of weakness. Downward target […]

Wave summary: As expected, the corrections is quite weak and will likely remain the same as the impulsive rally in wave iii continue to unfold towards 1.6655. In the short term, we will be looking for a move closer to 1.6000 before the price shows another minor corrective decline towards 1.5798 and then higher again. […]

Wave summary: We are looking for more corrective behavior in wave iv and another stab lower towards 120.67 and below it before the next impulsive rally takes us higher towards at least 123.11. In the short term, a break below minor support at 121.24 will confirm that one more stab lower to 120.67 is needed […]

http://www.elliottwave.com/Investor-Research/Financial-Forecast-Service?tcn=ytv1703 Cash is the one asset that is almost sure to rise in value during a deflationary period. Yet, the “war on cash” has been escalating. Here’s why you should start storing away plenty of cash. Learn How the Wave Principle Can Improve Your Trading

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Spot GOLD has seen a 1.56% retracement over past two weeks after hitting its highest level of 1295.37 last seen on November 9th 2016. That said, this retracement has held above the support line at 1260 over the past two days. On the 4-hourly chart, the price broke the downtrend line resistance on April 26, […]

GOLD price is vulnerable to move towards $1,250. The short-term trend remains bearish. However, I favor long positions in the area of $1,245-60 targeting a move above $1,300. Gold remains in a longer-term bullish trend towards $1,500-$1,600. Blue lines – bearish channel Gold price remains inside the bearish channel and below the cloud resistance. The […]

Overview GOLD price has settled at 1,263.17 and the price has fallen under continuous negative pressure formed by the EMA50. This makes it more difficult to resume the recently suggested bullish trend. The metal awaits to gain enough momentum to push the price up again. In general, we still suggest the bullish trend unless breaking […]

Overview GOLD price has settled at 1,263.17 and the price has fallen under continuous negative pressure formed by the EMA50. This makes it more difficult to resume the recently suggested bullish trend. The metal awaits to gain enough momentum to push the price up again. In general, we still suggest the bullish trend unless breaking […]

Overview Silver price broke 17.43 level and settled with a daily close below it. This stops the recently suggested bullish scenario and puts the price under the negative pressure on the short-term basis, paving the way towards 16.56 as the next key target. Therefore, the bearish trend will remain valid in the short term. This […]

Overview Silver price broke 17.43 level and settled with a daily close below it. This stops the recently suggested bullish scenario and puts the price under the negative pressure on the short-term basis, paving the way towards 16.56 as the next key target. Therefore, the bearish trend will remain valid in the short term. This […]

Wave summary: We continue to look for small corrections only as the rally in wave iii moves closer to our first extension target at 1.6656. Short term, we are looking for support at 1.5671 to protect the downside for a continuation higher to 1.6000 and likely even closer to 1.6318 before wave [iii] of iii […]

Wave summary: We continue to look for small corrections only as the rally in wave iii moves closer to our first extension target at 1.6656. Short term, we are looking for support at 1.5671 to protect the downside for a continuation higher to 1.6000 and likely even closer to 1.6318 before wave [iii] of iii […]

Wave summary: We continue to look for small corrections only as the rally in wave iii moves closer to our first extension target at 1.6656. Short term, we are looking for support at 1.5671 to protect the downside for a continuation higher to 1.6000 and likely even closer to 1.6318 before wave [iii] of iii […]

Wave summary: The expected corrective decline from 121.98 is unfolding nicely. The ideal target for this correction is seen near 119.85 for the next rally higher towards at least 122.57 and possibly higher towards 123.42 to complete wave A. This scenario remains our preferred outlook. That said, we have to take into consideration that wave […]

There’s plenty of known market movers scheduled for Friday, the 28th of April. Let’s find out more. German Retail Sales for March are out at 6 AM. Sales rebounded strongly in February, fully offsetting a 1% drop the previous month. Swiss KOF Economic Barometer for April follows at 7. The Index continued to increase in […]

Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2917. According to the 1H time frame, I found a wide spread divergent bar, which is a sign of weakness. The key level to confim bearish divergence is 1.2880. If the price breaks the level of 1.880, watch for potential selling […]