EWFOREX.NET Bitcoin is down 51% from its $69000 Oct 2021 all-time high. However, structurally this bear market has lasted since the $64854 Intermediate-(3) high. Technically, the $69000 all-time high was an X wave of a double three forming at Minor degree. Double threes are corrective patterns and considered bear markets. Price is now testing the…
Wheat Futures Surge Back Up to 2 Month High!
EWFOREX.NET USD/PEN s/ 3.7811; EUR/USD $1.0419; GOLD $1813; OIL $112 BTCUSD $29440 Bread, a huge part of the Peruvian diet, keeps going up; and, from a technical perspective, we can expect higher prices to come. Today CME Wheat Continuous Contract EOD surged to the 1247.5, after price had broken out of the contraction triangle pattern…
Euro Continues to Plummet on Dollar Strength
EWFOREX.NET USD/PEN s/. 3.7628; EUR/USD $1.0374; GOLD $1809; OIL $109: BITCOIN $30738
US Dollar Strength Squeezes Global Markets
USD/PEN s/3.8070; EUR/USD $1.0537; Gold $1842; Bitcoin $31180; USOil $100 EWFOREX.NET US Dollar in Peruvian Sol has retraced to the Fibonacci 38.2% of the five wave impulsive drop from the 4.1448 all-time high. The break of the Intermediate upper channel trend line confirms Primary wave 2 is underway. Currently, the Fibonacci 50% and 61.8% retraces…
Euro Drops Massive in Dollars!
EWFOREX.NET USD/PEN s/3.8506; Bitcoin $39520; Gold $1888: USOil 103.99 Euro tumbles more than 3% this morning pushing through support and invalidating the triangle structure at Primary Degree. Alternate Primary Degree flat is now in play. So far price is testing the lower channel trend line taken from the Feb 11 2018 high. A push through…
Euro Could Be Basing for a Bullish Run on The US Dollar!
EWFORE.NET USDPEN s/3.70; Bitcoin $42669; Gold $1947; Oil 103.31; EUR/USD $1.0887 This is a monthly bar chart of EURO/DOLLAR going back to the 1.6038 2008 all-time high. The pair has been on a downtrend since and so far it doesn’t look like it is done. The structure can be counted as a zigzag or part…
Bitcoin Bounces of Support Could Be Heading to 50000!
EWFOREX.NET Wednesday April 20, 2022 5:15pm Lima, Peru USD/PEN 3.7138 sol; Bitcoin $41511; Gold $1955 oz.; US Oil $102 a barrel BTC tested lower channel trend line support Monday and is now moving back up keeping the Minor D alive. So far three waves count complete at the $45821 Feb 9 high. However, D waves…
Dollar Looks Strong Against Sol!
EWFOREX.NET USD/PEN s/ 3.7012; Bitcoin $41205; Gold $1950 an oz.; Oil $100 a barrel Yesterday Dollar/ Sol opened at 3.790, hit an intraday high of 3.7439, and closed at the 3.7039 Bloomberg. So far the US Dollar is down -7.25% year to date and -10.6% since the 4.14 Sept. 2021 high. But there is a…
Dollar Stronger After long Fall!
EWFOREX.NET USDollar costs 3.7299 soles; Bitcoin $39700; US Oil $100.98; Gold $1966 The dollar has been taking a beating since putting in its all-time high at 4.1448 Sol per Dollar on Sep 18 2021. But it looks like it might be over. The chances are good that a bottom has been put in for now…
Bitcoin breaks above Resístanse!
Yesterday, Bitcoin broke above the $45821.00 resistance and is up again this morning trading at $47255.00. It is safe to say now that Minute X is complete down at the $3755. Minute Y target it up at the upper channel trend line which should take price to the 52000s. Notice that the 38.2% Minor DvsB…