Monthly Archives: October 2015

EURUSD

Bearish Outlook :

The Friday’s close below 1.10980 eliminated the interpretation that allowed for a bullish potential in short term.

The outlook in daily frame remains bearish through 1.04806, in anticipated Minor-degree third wave of the wave (C) underway.

EURUSD - Daily

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EURUSD

Bearish Outlook :

The last week’s persistent decline and closing below 1.1097, indicates the Euro’s bearish stance in an Intermediate-degree trend (as the wave (C) of Primary wave Y).

The expected target for the decline in wave (C) is around 0.95318, where equals 0.618 times the length of the wave (A) of the same degree.

EURUSD - Weekly

Crude Oil

Bearish Outlook :

The Crude’s trend remains down in third wave of Minuette-degree wave (v), through the determinate target at 38.29, where the wave iii equals 1.618 times the length of wave i.

With respect to this bearish count, the decline of wave (v) will ultimately draw the price below the August 24 low at 37.75.

Crude Oil - Intraday

Gold

Bullish Outlook :

There is no change on this daily frame, Gold has continued to correct in fourth wave of Minuette-degree wave (iii), prior to the start of its fifth-wave up to new high.

The bullish outlook to the 1255 area still is in place, while price holds above 1153.5.

Gold - Daily

DX

Bearish Outlook :

The strong rally day in U.S. Dollar should have ended the running triangle as the Minor wave X at the extreme point of 96.42, prior to the start of the next Minor-degree decline in wave Y.

Any break of wave c (circle) would negate the bearish triangle-pattern shown on the chart, since wave e (circle) cannot move beyond the wave c (circle) extreme.

DX - Daily

Silver

Trend Reversal :

After the bullish ending diagonal in Intermediate degree, unfolding five overlapping waves to the upside, as a leading diagonal in lesser degree, indicates the Silver’s medium-term trend may have turned up.

According to the Elliott Wave Principle, “A leading diagonal in the wave one position is typically followed by a deep retracement.” Hence, correcting through at least the 50 percent of leading diagonal (wave 1) is expected.

Based upon these bullish structures it’s anticipated the August low at 13.93, as a significant extreme, remains intact in medium term.

Silver - Daily