EURUSD had extended its rally towards 1.2171 highs on Friday and has hit a shallow high around 1.2177 in early trade today. The rally from 1.1704 has exceeded fibonacci 0.618 retracement of earlier drop between 1.2350 and 1.1704 levels respectively.
Silver has raised through $27.55 levels this morning, alongside most risk assets. The metal has approached a strong resistance zone now and bears might be inclined to take control back soon. Also note that it has almost reached the fibonacci 0.618 retracement of the entire drop between $30.13 and $23.80 levels respectively.
USDJPY bulls are now looking poised to push through 112.00/50 mark, after have carved yet another higher low around 107.50. Please note it bounced off the trend line support since January 2021 lows as well. Looking higher from here for next few weeks.
Gold had raised through $1799 yesterday before reversing sharply towards $1770 before finding support again. The yellow metal is pulling back at the moment and seems to have carved a meaningful top already yesterday. If correct, $1786 might offer strong support.
Gold might have carved a lower top around $1798 levels on April 22, 2021. The yellow metal had then dropped through $1762 levels yesterday before staging a counter trend rally. A lower top might be in place at $1790 levels today. A drop below $1760 confirms a reversal is underway.
Ethereum has raised through fresh highs at $2719 today increasing expectations for a continued rally. But charts are depicting a different story; potential bearish reversal towards $1600/50 at least. As shown on the daily chart here, please notice the bearish divergence on RSI.
EURUSD has staged an impressive rally since March 31, 2021 lows registered at 1.1704 mark. EURUO bulls have extended gains today and managed to print 1.2117 today. A corrective drop might be in the making anytime soon now.
Dogecoin has appreciated from 0.0024 through 0.4481 within a short span of six months. The Elliott Wave counts are presented here on the Daily chart and they are suggesting yet another rally above 0.4481 mark in the next few trading sessions.
Gold has managed to reach up to $1798 levels in the past few trading sessions. The rally might be seen as Wave Y within a W-X-Y complex correction. Also note that the yellow metal has almost tested the fibonacci 0.618 retracement of potential Wave 2; bearish reaction remains high probability.
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