Monthly Archives: February 2016

EURUSD

Sideways Developing :

As shown on this daily chart, Euro should remain in the process of correcting in triangle wave (B) over the coming months.

With respect to the triangle correction as Intermediate wave (B), its Minor waves A, B and C are complete, wave D down is falling now, and wave E up would lie ahead.

The current decline in Minor wave D will likely achieve the Fibo 0.618 expansion level at 1.06468. (wave D = 0.618 wave B, a common relationship between the same direction subwaves of a triangle.)

EURUSD - daily

Gold

Bullish Outlook :

The Gold’s volatility should continue in the 50 points range over the coming weeks, and the trading range would contract around 1219.3.

The price volatility will be counted as Minor wave 4, which is prior to advance in the same degree fifth wave of (A).  (As noted in the recent post, Intermediate wave (A) would achieve the origin of the expanding diagonal at 1307.8.)

Gold - daily

Crude Oil

This week, 8.8% decline of Oil indicates the fourth-wave of its triangle wave (iv) is falling now (wave d, which is prior its same degree wave e up).

The decline of wave d would achieve the Fibo 0.618 expansion level at 28.11. (wave d = 0.618 wave b, a common relationship between the same direction subwaves of a triangle.)

Note : The ultimate target for final decline of Minute wave ((v)) will be able to assess after pointing the triangle’s extreme.

Crude Oil - daily

DX

Sideways Developing :

There is no change in sideways outlook for Dollar Index. The prices remain in the process of correcting in the fourth-wave’s volatility over the coming months.

With respect to a triangle correction as Intermediate wave (4), its Minor waves A and B are complete, wave C may have ended too, and the waves D up and E down likely lie ahead.

DX - daily

Crude Oil

Today’s selloff in Crude Oil, would suggest the fourth wave of the triangle wave (iv) may have begun its way down (wave d, which is prior its same degree wave e up).

The ultimate target for final decline of Minute wave ((v)) will be able to assess after pointing the triangle’s extreme.

Crude Oil - daily

Gold

Bullish Outlook :

It is anticipated the Gold’s volatility to continue in the 50 points range over the coming weeks, and the weekly trading range would contract around 1219.3.

This converging price volatility will be counted as Minor wave 4, which is prior to advance in the same degree fifth wave of (A).  (As noted in the recent post, Intermediate wave (A) would achieve the origin of the expanding diagonal at 1307.8.)

Gold - daily