EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
View Hot-Chart..
Even Prechter has same view on Dollar index and equities. Even if we dont take Elliot wave as reference, the positive Divergence can be seen clearly on Dollar Index daily chart(with MACD or even with Stoch). Personally I have short positions in DOW fut,crude and in oil, so this may be the reason for my tilt towards bear camp.
and as far Elliot wave is concern, its bit of a underestimation if one say that Elliot can be defined only after occurrence. Fibbo and wave can even be used for initiating a position and believe me, it works.
rajib.
Nov and Dec have been weaker months in 2007 and 2008 in a bear market - 2005 and 2006 they were higher - as we were in a bull run.
Not really a fan of Elliot wave theory - too many experts have totally different opinions on where we are in the wave structure, which mostly becomes clear once it has occurred, practical application to trade profitably appears to be limited.
I think whoever can predict and take positions for when this inverse relationship between dollar and equities will end will make some good money.
lower gold
lower oil
lower stocks
higher dollar (index)
Elliot Wave Theory confirms perfect retracement levels for the dollar which means the dollar is set to soar in the coming quarters. as the dollar seems to correlate well with risk on an inverse basis
WATCH OUT
Dave, thanks.
Ashraf
Firstly can I thank you for the seminar you held in Dublin mid-sept which I found both hugely insightful and massively worrying as I realised how much i dont know about the financial markets! I'm less than six months into the trading business and I'm just trying to keep my expectations in check, be patient and keep improving.
Secondly, I would like to give my 2 cents on oil/dollar.
I am fearful that oil prices will not hold the $80 level for the rest of the year. I still think at a global level economic growth and activity will be weak at best and the rally in oil is less to do with appetite and more to do with traders selling the dollar before they have their morning coffee! I am very possibly wrong but I just want to start forming my own opinions and not being over reliant on backward looking news. I will keep an eye out to see if this is the case weither way.
Anyway Ashraf, thanks again
dave
DO U THINK CRUDE WOULD TRADE BETWEEN 75 AND 82 RANGE
FOR NEXT ONE MONTH?
THANKS
REGARDS
hmmalik
shak, yes. regardless of whether they intervene or not, EURCHF still a good buy at 1.5090s and thats why it rose towards 1.5130s. next target 1.5180s
Ashraf
sell at 1.6450
then open to cover
hmmalik