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Dax Forecast: Dips, Yet Uptrend Intact The German index fell rather hard during the trading session on Thursday as we plunged towards the 18,250 euro level. I suspect at this point in time we are still in the midst of some type of corrective phase and therefore we will get the occasional dip. However, the uptrend is very much intact, and I just don't see that changing anytime soon. I am a buyer of dips and I recognize that it is probably only a matter of time before we rally again, but I do buy the DAX in very small bits and pieces. This is not a time to get over levered looking for some type of massive bounce. I think ultimately the market is starting to focus on the idea of indecision in politics when it comes to the European Union, but there's also an argument that can be made then perhaps the global economy might be slowing down. After all, US numbers are starting to drop. The PPI numbers in the morning were off by three-tenths of a percent, which is a huge miss. That could

The Australian Stock Exchange has been very noisy as of late, as we continue to hang around the 7700 Australian dollars level. The market is currently in the midst of a major triangle, suggesting that there is a certain amount of bullish pressure underneath but it is somewhat fleeting. After all, you have to keep in mind that the Australian exchange is highly influenced by commodities, and although some commodities have really started to take off, we have seen some other ones cool off at the same time period. Asia and global growth I suspect that one of the biggest influences on the ASX 200 is going to be the global growth situation as countries start to see a bit of a slowdown. We have seen several countries and central banks around the world start to cut rates, and this of course is a sign that perhaps there are some problems. If that ends up being the case, some of the biggest materials producers in Australia will find themselves in trouble as customers cancel orders. BHP Group Ltd.

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Gold is likely to retest the latest record high and attack psychological $2500 level in coming months, as all key factors that drive the metal’s price remain supportive. Persisting geopolitical tensions and threats of escalation continue to underpin demand, along with growing signals of stronger monetary easing and one of the most significant – gold purchases by central banks – led by China. However, overbought conditions on monthly chart and long upper shadows of April/May monthly candlesticks, as well as June’s candlestick so far being in the shape of long-legged Doji, signal rising offers and indecision, indicating that bulls might be running out of steam. This suggests that metal’s price may hold in extend consolidation, which so far finds ground at $2300 zone, with dips not to exceed solid supports at $2200 (psychological / Fibo 38.2% of $1810/$2450) to keep larger bulls intact for fresh push higher. To get ACCURATE LIVE ACCURATE 2-3 TRADES (Forex/Comex/Stocks) Telegram  Financial

The US dollar has fallen over 6/10 of a percent against the Singapore dollar, which is a significant move considering that the pair does not tend to be overly volatile. This is primarily a reaction to the Consumer Price Index numbers in the United States coming out cooler than anticipated. This has people already hoping that the Federal Reserve might cut interest rates sooner rather than later, but it’s also worth noting that the FOMC meeting is late in the day and could change the overall attitude. Are We Are Range Bound? I think at this point in time we have to answer the question as to whether or not we are simply going to be range bound. This is not a huge surprise, because the USD/SGD pair tends to be very sideways in general, because it’s not necessarily the most volatile pairs, and it’s worth noting that the Singapore dollar is essentially the same thing as trading the Swiss franc, as a lot of the fundamentals are very similar. Singapore is considered to be the “Switzerland of A

The USD/ILS as of this morning is around the 3.68925 mark which is solidly below highs seen earlier this week near the 3.76420 mark on Monday. The ability of the USD/ILS to selloff upon the weaker than expected U.S inflation numbers yesterday moved in step with other major currencies teamed against the USD and possibly sets the tone for the lower price now being traded to hold. Even as Israel continues to battle against Hamas and Hezbollah the USD/ILS has remained rather stable. The high produced last Friday near the 3.76690 area was met with some selling. Even as the Israel government coalition is showing vulnerability, the USD/ILS has been able to stay rather range bound. Yes, the higher values last week did break resistance levels and touched values last seen on the 1st of May, but they did not go upwards and towards higher ratios seen in the last week of April. USD/ILS Correlations to Broad Market The ability of the USD/ILS to move lower on the U.S CPI inflation data and then be ab

The snap move higher this morning in the USD/RUB may not prove to be concerning for speculators and actually an opportunity to once again look for lower prices. The price of the USD/RUB being displayed currency is near the 90.9800 mark, which suddenly emerged after the currency pair appeared to have been trading rather comfortably around the 89.0000 level. The sudden move higher demonstrates why conservative leverage is needed by day traders. However experienced traders of the USD/RUB know that prices are never easily defined in the currency pair and sparks higher and lower are part of the trading landscape. As long as the USD/RUB doesn’t start moving tremendously upwards this morning because something unknown is taking place, the reality is that the currency pair continues to traverse in a rather tight tranquil price range that actually correlates to the broad Forex market. Yesterday’s Lows in the USD/RUB and Speculative Trading The USD/RUB currency pair moved to a low of nearly 88.22

Potential signal: I am bullish on bitcoin over the longer term, so if we get some type of pullback toward the $67,000 level, I will step in and start buying bitcoin, with a stop loss at the $65,000 level, and a target of $72,000 above. In other words, it is a “buy on the dips” market. The bitcoin market rallied quite nicely during the trading session on Wednesday, as we have bounced from the crucial $67,000 level. The $67,000 level is a large, round, psychologically significant figure that a lot of people will be paying attention to, and it’s probably worth noting that the 50-Day Exponential Moving Average will continue to be of interest as well. With that being the case, I think it’s a situation where we continue to do much of the same behavior that we have seen over the last several weeks. FOMC and CPI The Consumer Price Index came in 0.1% less than anticipated in the United States, and as a result traders are already starting to jump the gun and suggest that the Federal Reserve is l

Gold Forecast: Continues to See Support in the Same Area Ahead of FOMC You can see that the gold market initially fell during the trading session, but it does seem to be catching its support a little bit as the Americans step on board. And it'll be interesting to see how this plays out, mainly due to the fact that it had plunged so drastically before due to the idea that the Federal Reserve may have to stay relatively tight. However, it also looks like we have a scenario where gold is trying to do everything it can to perhaps find its footing, and if it does, that could be an excellent entry. Keep in mind that we have the FOMC meeting during the session on Wednesday. So that has a certain amount of influence as well. So do be cognizant of this. Look for Value With that being said, I think you look at this through the prism of a market that offers value, but you don't want to get too big ahead of the FOMC meeting because quite frankly, you could get a nasty surprise and you neve

Short Term Elliott Wave in S&P 500 (SPX) suggests the rally from 4.20.2024 low is in progress as an impulse. Up from 4.20.2024 low, wave 1 ended at 5341.88 and pullback in wave 2 ended at 5191.68. Internal subdivision of wave 2 unfolded as a double three Elliott Wave structure. Down from wave 1, wave ((w)) ended at 5256.93 and wave ((x)) ended at 5311.65. The Index then extended lower in wave ((y)) as a zigzag structure. Wave (a) ended at 5269.67, wave (b) ended at 5282.06 and wave (c) ended at 5191.74. This completed wave ((y)) of 2 in higher degree. The Index has turned higher in wave 3. Up from wave 2, wave (i) ended at 5292.25 and dips in wave (ii) ended at 5234.32. The Index resumed higher in wave (iii) towards 5370.3 and pullback in wave (iv) ended at 5347.09. Wave (v) higher ended at 5375.08 which completed wave ((i)). Pullback in wave ((ii)) is proposed complete as a shallow zigzag Elliott Wave structure. Down from wave ((i)), wave (a) ended at 5341.88 and wave (b) ended at

Key Highlights Bitcoin price started another decline from the $72,000 resistance zone. BTC traded below a key bullish trend line with support near $68,250 on the 4-hour chart. Gold prices consolidate near the $2,320 resistance zone. The Fed is likely to keep interest rates at 5.5%. Bitcoin Price Technical Analysis Bitcoin price failed to clear the $72,000 resistance zone and started a fresh decline. BTC/USD traded below many supports such as $70,000 and $69,200. Looking at the 4-hour chart, the price traded below a key bullish trend line with support near $68,250. The price settled well below the 100 simple moving average (red, 4 hours) and tested the 200 simple moving average (green, 4 hours). However, the bulls are now active near the $66,500 support zone. If there is another increase, the price could face resistance near the $67,800 level. The first key resistance is near the $68,400 zone. The next resistance is near $69,200 and the 100 simple moving average (red, 4 hours). A succes

The US dollar has rallied again during the trading session on Monday against the Brazilian real, as we continue to see a lot of concerns around the world affecting emerging market currency such as this one. All things being equal, this is a market that I think will continue to see a lot of upward pressure, and I think at this point in time it does make a certain amount of sense that short-term pullbacks will continue to be buying opportunities. Technical Analysis AC several support levels that are excellent buying opportunities if you do in fact get the opportunity. Keep in mind that this is a pair that will be extraordinarily volatile at times because it is somewhat thinly traded during certain times of the day. That being said, I believe that the 5.30 level has now offered itself a bit of support, as it previously had been resistance. With that being the case, I like the idea of buying dips in bits and pieces and taking advantage of value any time, it shows up. After all, the US doll

EUR/USD Forex Signal: Found Support at $1.0758 EURUSD was not triggered, as there was no bullish price action when the support level at $1.0863 was first reached. Today’s EUR/USD Signals Risk 0.75%. Trades may only be taken prior to 5pm London time today. Short Trade Ideas Short entry following a bearish price action reversal on the H1 timeframe immediately upon the next touch of $1.0784, $1.0834, or $1.0856. Place the stop loss 1 pip above the local swing high. Move the stop loss to break even once the trade is 20 pips in profit. Remove 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to ride. Long Trade Ideas Long entry following a bullish price action reversal on the H1 timeframe immediately upon the next touch of $1.0758, $1.0722, or $1.0709. Place the stop loss 1 pip below the local swing low. Move the stop loss to break even once the trade is 20 pips in profit. Remove 50% of the position as profit when the price reache

Short Term Elliott Wave in Gold (XAUUSD) suggests the rally from 5.03.2024 low ended a wave 3 at 2450.10 high. Wave 4 pullback is currently in progress. The internal subdivision of wave 4 takes the form of a double three Elliott Wave structure. Down from wave 3, wave (a) ended at 2407.15 low and wave (b) bounce ended at 2433.90. The stock extended lower in wave (c) towards 2325.20 which completed wave ((w)) in higher degree. The market rallied starting wave ((x)) taking the form expanded flat structure. Up from wave ((w)), wave (a) ended at 2364.12 and pullback in wave (b) ended at 2314.40. Wave (c) higher finish at 2387.71 which completed wave ((x)). XAUUSD continued lower strongly in wave ((y)) of 4. Down from wave ((x)) Wave (a) of ((y)) ended at 2286.50 as an impulsive structure. Wave (b) bounce could already end at 2313.8 and the metal has turned lower in wave (c). Near term, while below 2387, it should continue lower in wave (c) of ((y)) to the extreme 100% – 161.8% Fibonacci are

BTC/USD Forex Signal: More Bearish Consolidation B TCUSD produced a nicely profitable long trade entry from the bullish bounce when the support level at $68,243 was first reached. Today’s BTC/USD Signals Risk 0.75% per trade. Trades must be taken before 5pm Tokyo time Tuesday. Long Trade Ideas Long entry after a bullish price action reversal on the H1 timeframe following the next touch of $68,598, $68,243, or $67,088. Place the stop loss $100 below the local swing low. Adjust the stop loss to break even once the trade is $100 in profit by price. Remove 50% of the position as profit when the trade is $100 in profit by price and leave the remainder of the position to ride. Short Trade Ideas Short entry after a bearish price action reversal on the H1 timeframe following the next touch of $69,827, $70,093, or $71,659. Place the stop loss $100 above the local swing high. Adjust the stop loss to break even once the trade is $100 in profit by price. Remove 50% of the position as profit when t

Gold violates bullish structure; prints a head and shoulders pattern Short-term risk is negative; confirmation signal awaited below 2,285 Gold has stabilized near May’s floor of 2,285 after losing more than 3.0% on Friday to mark its biggest daily loss in two years. The price’s current lackluster performance indicates a probable bearish continuation , given its drop below the 20- and 50-day SMAs and beneath the significant trendline zone at 2,325. The technical indicators align with this narrative, as the RSI has dipped below its 50 neutral mark and the MACD has slipped below its zero line. In the event that the 2,285 base crumbles, validating a bearish head and shoulders formation , selling momentum could escalate towards the 2,220 level. Falling lower, the price might retest the former constraining zone of 2,185 before plunging towards the ascending trendline, which connects the 2023 and 2024 lows at 2,145. If the bulls resurface, they might encounter a new challenge in the caution

CAC Forecast: Continues to Focus on €7900 The Parisian CAC fell significantly during the trading session on Tuesday, but he continues to see support in the same general vicinity, namely the €7900 level. Because of this, I do think that we have a situation where traders will pay close attention to whether or not this level holds, as it is a large, round, psychologically significant figure, and of course it’s also an area that has already been tested multiple times. That's the reason why I will be watching very closely. Are We Still Range Bound? I think at this point in time, the market is still trying to question whether or not we are range bound, and I do think that the next couple of sessions could be a pivotal turn of events for the market, and therefore we need to pay close attention to what happens next. Ultimately, this is a market that will have to make a decision, and the fact that we have the European Central Bank with an interest rate decision coming up in the next couple