Forex Library

Although we have reacted higher from the 61.8% pullback level of 1.1361 (from 1.1302-1.1456), with Demark posting an exhaustion 13 count on the intraday chart, there is scope for a larger corrective move to the downside Read More

Gold – Broken higher from a triangle pattern to complete a short term bottom. Weekly:  The sideways consolidation continued although the market managed to post a significant low at 1160. Levels close to the 78.6% pullback level of 1174… Read More

Moving higher in an impulsive manner. The 261.8% extension and possible completion of a 5th wave, is seen at 113.28 (from 111.38-112.10). Read More

We have a 261.8% extension level at 0.7020 (from 0.7315-0.7202). The daily chart highlights bullish divergence (chart makes a lower low while the RSI makes a higher low). Often an indication of exhaustion. Buying into dips offer ample… Read More

With a 261.8% extension seen at 11.2968 (from 1.3232-1.3070) there is scope for a mild upside correction to get short. Read More

Moving lower in a corrective formation. A full AB=CD pattern takes the pair to 1.2884. This is just below the 61.8% pullback level of 1.2905 (from 1.2662-1.3298). DeMark has posted a correction count on the daily chart Read More

We have a confluence area at 128.11-127.98: 1. 261.8% extension at 128.02 from 133.13-131.18 2. Bespoke support at 128.11 3. Lower lows at 127.98 Read More

Monthly: Formed an Ending wedge pattern. Bearish divergence can be seen on the monthly chart (the chart makes a higher high while the relative strength index makes a lower high). The measured move target is 8700 Weekly: Looks to be… Read More