After analyzing the current price action of XAUUSD, it is clear that a bearish scenario may unfold if the price falls below 2470. Traders are advised to consider selling positions with take profit levels set at 2463, 2460, and 2456. It is crucial to set a stop loss above 2473 or, at the very least,
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The AUD/USD pair has been consolidating gains near the 0.6620 zone, showing signs of potential downside correction from the 0.6640 level. The technical analysis indicates that there is a key bullish trend line forming with support at 0.6610 on the hourly chart of AUD/USD at FXOpen. The pair started a fresh increase from the 0.6500
In the midst of market volatility, investors may find themselves seeking stable investment options to navigate uncertain times. Joanna Gallegos, CEO of BondBloxx, emphasizes the significance of incorporating bonds into one’s investment strategy. Gallegos suggests that prioritizing income and high-yield bonds can provide a cushion against market fluctuations. By diversifying into fixed income, investors can
Traders have been closely monitoring the USDCHF currency pair, especially after the recent breakout that confirmed a bearish bias. The completion of a medium-term bullish corrective cycle in April 2024 marked a significant turning point for the pair. The weekly chart analysis revealed a supercycle 4th wave completion in December 2016, indicating the beginning of
When examining the monthly scale of EUR/USD, it becomes apparent that there is potential for a significant breakout. This is evidenced by the higher highs and higher lows that have been forming. In January 2023, the price reached a peak at $1.2448, followed by a higher low of $1.1803 in March 2023. Subsequently, another higher
During Monday’s trading session, the GBPJPY pair continued its upward movement, hitting a peak of approximately 202.50, the highest level seen since 2007. Despite initial efforts by sellers to drive the pair down to 106.14, buyers managed to take control and push the pair to new cycle highs. The Daily Relative Strength Index (RSI) at
Costco Wholesale Corp. (COST) has been under the lens of Elliott Wave analysts, particularly in terms of its impulsive trend and motive structure. The analysis indicates that COST is currently in wave 5, specifically within wave {iii} of 5, suggesting an upward trajectory. Following the completion of the triangle in wave 4, wave {ii} of
In our recent assessment of the NASDAQ 100 (NDX), QQQ ETF, SP500 (SPX), SPY, Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), and Alphabet (GOOGL), we have identified a potential Elliot Wave pattern. Our analysis suggests that we are currently witnessing the development of Wave iii of (i)
Upon analyzing the Elliott Wave charts of Ethereum ETHUSD, it is evident that the cryptocurrency is showing incomplete sequences in the cycle from its March peak. This signifies that there is more weakness expected in the short term for Ethereum. The projected target area for Ethereum is between 2700.3-2057.9, where potential buyers may step in.
Silver prices are constantly fluctuating in the market, impacted by a variety of factors that investors need to be aware of in order to make informed decisions. Understanding the dynamics of the silver market is crucial for those looking to diversify their investment portfolios and capitalize on potential opportunities. In this article, we will explore
When it comes to trading on the Australian Stock Exchange (ASX), analyzing wave patterns can provide valuable insights into potential market movements. Take, for example, REA GROUP LTD – REA, where Elliott Wave analysis indicates that the major trend of wave 3-red is on the verge of pushing higher. The recent completion of a Double
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