ForexFox_SA

In line with my previous analysis, the price rose back above the lower trend line. Now looking at the detail of the bearish waves, it is possible that an up move could take the price to at least around 3440. That is my expectation. Keep in mind that this is a forecast as a result of an analysis.

The price is at the bottom line of the previous diagonal move's lower trend line. Momentum in price and volume indicates an up move is on the way. My prediction is to see a price around 3440.

Price reached one of the important target levels in my previous forecast. Now it seems to signal an important pullback. Be careful when go long.

Looking at where we are in the trend on the daily chart, I think we are in the correction of the uptrend and the last movement we are in is a triangle. Triangles like the one in the figure, after completing 5 waves, break on the barrier forming side of the triangle in wave number 6. Therefore, I expect a bullish breakout from these levels. This move may also exceed the previous high; however, it is too early to say that this is exactly the target at the moment. I think the first target is the 3414-3335 range.

It seems, we have finished a 5 wave impulse and an ABC zigzag type correction. In wave theory, A-B-C correction which is a Zig-zag type correction takes back the %61.8 lenght of the previous impulse. Please check where the price closed today. EXACTLY 0,618 (%61.8) fibo retracement level of the previous impulse. Therefore, it is not a good idea to go for short if there is not a price close below 3305 in 4hrs chart on Monday.

In daily time frame the price is in the correction phase. The correction type is a barrier triangle and the barrier is above the price (2725). In theory this type of triangles indicates that the price will move beyond the barrier after completing the 5 waves. Now the 4.th wave downwards is about to start and the target is 2663-57. After price touches there highly possible the price has the support from there and again move to 2725 and breake it this time. The vertical lines are the predicted dates for the moves indicater with arrows. This are my predictions not an advice for any investment.

In daily a tirangle with a top barrier is forming and the upper barrier is on 2725-35. When price hit there may face the ressistance and bounce back and reaches 2663-2655, then bounce back and breaks the upper barrier to go further something like 2764. This are not advices just my predictions. Also you can check what I predictid on 3rd of Jan.

My former idea suggests that the price move is in the B upwards correction wave in weekly time frame and it still looks accurate. I believe this up move in 4 hours will turn in to a trend. Momentum is good, indicators are positive. 2728 is my target. 5th wave possibly falls short as shown. I am waiting for a buy signal from 2642-38 if not maybe little bit lower. 2611 is my exit price.Yes it is happening.

In the weekly time frame we may be in the phase of correction A and B may be forming now and this move may lead us to 2726 first and then 2791 after because up move is strong. Than maybe price starts falling . Technically it is possible to hit 2535 but considering the global enviroment 2600 can be a support. But no one knows yet. Middle and the left one showe the subwaves. The first in the left is not fully shown but it looks like 5-3-5 correction has been completed. Following the daily close will give more data to predict actually. In daily it is still bearish but in 4h it may start and up move. In weekly it is bullish. If price is above 2610 this possibility will be still valid.

My short time projection based on ichimoku theories as above. I am expecting that price hit the around of the relevant price targets around reletad dates shown by the vertical lines.Tried to reach the upper band of the yellow zone and could not make it. Down movement has been started. The following week I am expecting a downward movements and before the week ends the price will be around 2330+40.