FX Majors & Metals | Reversals | July 2019

FX Majors & Metals | Reversals | July 2019
Markets:FX Majors | Metals

• Dollar Index (DXY)
  
• EUR/USD
• GBP/USD
• USD/JPY
• USD/CHF
• AUD/USD
• NZD/USD
  
• XAU/USD
• XAG/USD

FX Majors have been unfolding patterns favorable to the previously posted “FX Majors | Patterns & Waves | June-July 2019” article.

Ever since that article, currencies countering the USD have been showing reversal patterns, which could pave the way for continuations, in an impulsive manner.

These structures have been updated and explained with the “FED vs Elliott Wave | Trading Ideas | Technical Analysis” video.

The impulses which I am highlighting with this article are showing more and more favorable signs of materializing.

FX Majors & Precious Metals are about to finalize corrective stages and commence new impulses.

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FX Majors | Patterns & Reversals

DXY – 2H Chart (picture)

• DXY labeled within a Bearish Impulse, involving an Extension.
  Patterns:
  – Minor 1 (red) – Leading Diagonal
  – Minor 2 (red) – Running Flat
  Expectations are for the USD to commence the 3 of 3’s, after the current corrective structure finalizes.

DXY – 2H Interactive Chart
(click to open)

EUR/USD – 2H Chart (picture)

• EURUSD labeled within Bullish Intermediate (C) (green).
  Patterns:
  – Minor 1 (green) – Leading Diagonal
  – Minor 2 (green) – Running Flat
  Euro-Dollar should go bullish after the retracement, with a violent move on the up-side as the next interpretation.

EUR/USD – 2H Interactive Chart
(click to open)

GBP/USD – 2H Chart (picture)

• GBPUSD labeled within a Complex Double Three.
  Patterns:
  – Intermediate (W) (pink) – Expanding Flat
  – Intermediate (X) (pink) – Bridge / False Break-out
  After the correction, the Pound-Dollar should jump on the up-side with a sustained ABC (Minor degree) sequence.

GBP/USD – 2H Interactive Chart
(click to open)

USD/JPY – 4H Chart (picture)

• USDJPY labeled within a Complex Bearish Triple Three pattern in Intermediate (B) (blue).
  Patterns:
  – Minor Z (purple) – Regular Flat
  – Minute a (red) – Three Swings sequence
  – Minute b (red) – Double Three
  Minor Z (purple) is expected to resume for the down-trend with Minute c (red), in an impulsive manner.

USD/JPY – 4H Interactive Chart
(click to open)

USD/CHF – 2H Chart (picture)

• USDCHF labeled within a Triple Three bearish sequence.
  Patterns:
  – Minor Z (purple) – Zig-Zag
  – Minute a (red) – Leading Diagonal
  – Minute b (red) – Double Three
  Minor Z (purple) is expected to resume for the down-trend with the impulsive Minute c (red).

USD/CHF – 2H Interactive Chart
(click to open)

USD/CAD – 2H Chart (picture)

• USD/CAD labeled within a Bearish Impulse of a larger degree, with the Extension in play and preparing.
  Patterns:
  – Minor 1 (red) – Impulse
  – Minor 2 (red) – Sharp Correction
  – Minute i (red) – Impulse
  – Minute ii (red) – Expanding Flat
  Huge sell-off would be expected to start unfolding within Minor 3 (red).

USD/CAD – 2H Interactive Chart
(click to open)

AUD/USD – 2H Chart (picture)

• AUDUSD labeled within a Double Three Bullish Correction, within a (W)(X)(Y) (pink).
  Patterns:
  – Intermediate (W) (pink) – Zig-Zag
  – Intermediate (X) (pink) – Bridge / False Break-out
  – Intermediate (Y) (pink) – Minor degree ABC (orange) sequence
  – Minor A (orange) – Leading Diagonal
  – Minor B (orange) – Expanding Flat
  Minor C (orange) has started and about to finalize Minute i (green). After the correction in Minute ii (green), a rally should begin in a five-wave sequence.

AUD/USD – 2H Interactive Chart
(click to open)

NZD/USD – 2H Chart (picture)

• NZDUSD labeled within a Double Three Bullish Correction, within a (W)(X)(Y) (pink).
  Patterns:
  – Intermediate (W) (pink) – Zig-Zag
  – Intermediate (X) (pink) – Bridge / False Break-out
  – Intermediate (Y) (pink) – Minor degree ABC (orange) sequence
  – Minor A (orange) – Leading Diagonal
  – Minor B (orange) – Regular Flat
  Minor C (orange) has started and about to finalize Minute i (green). After the correction in Minute ii (green), a sustained rally should unfold.

NZD/USD – 2H Interactive Chart
(click to open)

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Metals | Patterns & Impulses

XAU/USD – 2H Chart (picture)

• XAUUSD labeled within Bullish Impulse in Intermediate (3) (green).
  Patterns:
  – Minor 3 (green) – Bullish Extension
  – Minor 4 (green) – Contracting Triangle
  Gold should be able to resume the bullish impulse after completing the correction in Minor 4 (green).
  Minor 5 (green) should present a sudden and sustained rally.

XAU/USD – 2H Interactive Chart
(click to open)

XAG/USD – 2H Chart (picture)

• XAGUSD labeled within Bullish Corrective structure in Primary Y (pink).
  Patterns:
  – Intermediate (A) (green) – Three Swings Sequence in its Minor ABC (blue).
  – Intermediate (B) (green) – Complex Correction which could transform into a Double Three if a move on the down-side shows strength.
  Silver should be able to start a bullish impulse once the current structure finalizes.

XAG/USD – 2H Interactive Chart
(click to open)

Many pips ahead!