Usd/Chf Pattern Completed, Move lower
4 Hour Chart trend: Short as long we trade below 1.1021. Main price points: 1.0589, 1.0753, and 1.1021. Looking for: Break lower. Recently we came out with another bearish wave count that may be in play. We are looking for a more complex wave IV) correction on usd/chf pair with a zig-zag in wave (w) and a triangle in wave (y), separated by a wave (x). If this is a correct view, then a break through the lower triangle line and 1.0753 should follow, as the wave e of a triangle pattern seems to be completed.
Gold; $925 Breakout; Move near to $1000 per ounce?
4 Hour Chart trend: Long. Main price points: 904.78, and 989.63. Looking for: Break higher
On gold we are finally back on a four hour chart, after a few weeks of reviewing the other time-frames. Gold is showing some signs of a temporary recovery, if the wave count is correct. It seems the wave B, that we were monitoring on a daily chart recently, is completed, as the market came out with a double zig-zag pattern, separated by a wave x triangle. Prices are also threatening the upper-line of a down-trend channel, where a possible break-out should lead us much higher in the coming weeks, to possibly approach the $1000 per ounce area.
The wave count will be valid so long as 904.78 holds.
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