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Below is new video analysis for AUDUSD, USDCHF, NZDUSD, EURNZD and DAX sponsored by Orbex.com
 

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Hello traders and investors!

Today we will talk about NIFTY 50, its price action from technical point of view and wave structure from Elliott Wave perspective.

Well, most of stocks across the globe are an impulsive rise since March 2020 lows, so as NIFTY50 which we see it trading in an extended wave (5) of 3 that can be approaching the end soon, ideally during the summer. So, shorter-term there's room for more upside, while it's above channel support line and 15000 level, but we have to be aware of a higher degree wave 4 correction that can occur later this year.

NIFTY50, Daily

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US dollar is up sharply as 7 Fed officials expect rates to increase in 2022, 13 Fed officials see rate increase in 2023. We see some intraday impulsive reactions but keep in mind that if you zoom out your price chart you will still see a sideways move since January. However, it's very important to be flexible and ready to adjust the views when needed. So at this stage we have to respect what market is doing and I really love USDCHF while silver can be headed to the lower side of a triangle.

For more details please check video below which includes; USDCHF, SILVER, DAX, and BITCOIN.

Have a nice weekend.

GH

 

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Hello traders and investors!

Today we will talk about Japanese Index NIKKEI 225 in which we see very clear bullish pattern .

As you can see, NIKKEI made an A-B-C corrective decline from the highs and the main reason why we think it's a correction within uptrend is because of a triangle within wave B in the middle. We know that triangles cannot occur in wave 2, so it must be wave B as part of an A-B-C correction.

The Next very important evidence that A-B-C correction is completed is recent five waves up from the lows and we know that a five-wave reversal indicates a change in trend, so NIKKEI will probably stay in the uptrend.

However, in EW theory, after every five waves, a three-wave pullback follows, so before we will see a continuation higher, be aware of a corrective slow down with ideal support in the 28800 - 28300 zone. Of course, pullbacks could be even deeper, so count remains valid as long as the price is trading above 27400 May lows.

NIKKEI225, 1H

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It appears that we will have to wait a little bit longer on higher yields from ECB, which causes some limited upside for the EURUSD pair. Also G7 meeting can be an important market driver for the start of a next week due to historic deal on minimum global 15% tax. They may also touch the cryptocurrencies which may see some limited upside once all the details from the meeting are released.

For more details about our technical view on EUR, GOLD, DAX, NASDAQ100 and even FACEBOOK please check our video below.

Have a nice weekend.

GH

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Hey traders!

Below is new video analysis for GBPUSD, AUDUSD, EURAUD, GOLD, SILVER and DAX sponsored by Orbex.com
 

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Hey traders,

No change from the RBA, Melbourne is in a new extended lockdown and stocks at potential resistance. This may suggests that AUDUSD will stay sideways and may not break resistance just yet, but ideally that will be the case after a completed wave four. At the same time we may see higher metals, possibly during summer.

You can hear more about AUDUSD and Silver in our latest video below.

GH

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