S&P500 cash market gapped
lower in this week, exactly after prices tested 1560-1570 resistance area for
wave (iii) as highlighted several times to our members last week. As such, latest
retracement should be wave (iv), which made three sub-waves down and found a
support at very typical 38.2% Fibonacci support level compared to wave (iii).
With that said, larger trend remains up as we need one leg up to complete a
five wave rally from 1485 Feb 26 low. Ideally market is now trading higher in
wave (v) headed through 1558 high which will open the door for a push up to
1578 projection, where wave (v) equals to wave (i).
USDCHF Technical Analysis - Sell at 0.9955
USDCHF made a nice bull move from 0.9716 to 0.9990. Then USDCHF drops from over bought zone. USDCHF is trading below its 20 period MA on 4h ...
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AUD is weak today after unchanged rates decisions from the RBA members; 3.00%. However, there are speculations for further easing and poss... -
Pivot: 0.79. Our preference: LONG positions above 0.794 with 0.7975 & 0.7985 in sight. Alternative scenario: The downside penetration...
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Pivot: 0.825 Our preference: Short positions below 0.825 with targets @ 0.82 7 0.8175 in extension. Alternative scenario: Above 0.825 lo...