Currency and Bond Markets pay heed

Published: Wed, 02/14/18

     

Dear Members,

14 FEB 2018

Currency and Bond markets is where the Action is or the Lead indicators to what is happening in other markets. This weeks posts on these markets and Crude and Gold Mcx updates from the Insiders for You.


Gold Mcx Daily

  GOLD MCX        
 TIMETARGETTREND  REVERSALTIME 
 Short term trend31070Up297001-5 Days

The dollar is due to resume its decline and gold its rises after a 38.2% retracement in both. The 40dema at 29700 is the key support for a move up to new highs.

gd120218

 


US 10 Year Treasury notes

US 10 year notes are on course for a 4th wave bounce back that should relief the pressure on markets for a while.

notes 140218


Euro

Euro has started wave 5 of a larger third wave. And wave 5 could be an extended wave if it has to achieve the final end point of the third wave where 3 circle sis equal to 1 circle, near 1.32. The recent low of 1.233 could become the bottom for wave 4. Wave 4 can become more complex if it develops into a triangle in which case it will consolidate in the current range before it breaks out but should remain above 1.233 even then. 

euro 140218


EURINR

EURINR - if the third wave has started then iii=i goes to 83, and the recent low of 78.45 becomes the key support. 

eurinr 140218


Crude

Crude has had a deep cut and is finding support at the 20 week average near 58.20. Holding this level wave 4 is either complete but mostly developing into a complex triangle pattern for several weeks or 1-2 months before the next move higher. The idealised pattern is shown in blue.

crude 140218


USDINR

Unless USDINR gets past the 64.65 resistance level the rise so far is 3 waves and can be an x wave at minor degree. A final leg lower in wave z of Y down maybe pending before a meaningful bottom and that can test the 63 mark again in the coming weeks. The falling DXY could be the culprit.

usdinr 140218


Canada

Triangles precede final moves - and that is seen clearly in the chart of the Canada TSX index . 2017 saw a multi month triangle formation and then a breakout rally to new highs that ended Abruptly. Why wave 4 end up being triangles, the right answer is that this is just Mass human behaviour as reflected in the EW fractal and that is how it is. The behaviour is the same in the same situation. The fall from the top of wave 5 is now a five wave decline marked as A and we are in B.

canada 140218

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~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Rohit Srivastava
www.indiacharts.com
For accurate market forecasting. Market forecasting is a study of past data to assess
future probable outcomes. It is our endeavor to discuss high probability outcomes for
traders and investors. However this is not a solicitation to buy or sell stocks futures or
options or any security. Trading in any financial market should be done with sound
knowledge and the help of a qualified investment adviser. Stocks based on the Elliott
wave model are based on the Fibonacci fractal of the market and momentum indicators,
targets are based on Fibonacci maths and are only indicative of what the mathematical
model throws up. This is not a recommendation to buy/sell.
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