HY Newsletter – NZD/CHF Rises Inside Minor Impulse Wave

Stocks Report: Amazon.com, Inc.

Amazon completed intermediate ABC correction (4)

Likely to rise to 730.00 

478-Stocks

Amazon recently reversed up sharply from the powerful support zone lying between the pivotal support level 680.00 (former major resistance level from last October and December), lower daily Bollinger Band and the support trendline of the daily up channel from February. The upward reversal from this support zone created the daily Japanese candlestick reversal pattern Morning Star – which marked the end of the previous intermediate ABC correction (4). Amazon is likely to rise further to the next strong resistance level 730.00 (top of the previous B-wave from the start of June).

 

Commodities Report: Natural Gas

Natural Gas broke pivotal resistance level 2.760

Likely to rise to 2.930

478-commodities

Natural Gas recently rose sharply – breaking through the pivotal resistance level 2.760 (which reversed earlier waves 2 and 1 and which was set as the likely upward target in our previous forecast for this instrument). The breakout of the resistance level 2.760 accelerated the active minor impulse wave 3, which belongs to the intermediate impulse (C) – which is a part of the longer-term upward ABC correction ② from the start of March. Natural Gas is likely to rise further to the next resistance level 2.930 (forecast price for the completion of the active impulse wave 3).

 

Index Report: Nikkei 225

Nikkei 225 reversed from support level 15000.00

Likely to rise to 16000.00

478-Indices

Nikkei 225 recently reversed up sharply from the strong round support level 15000.00, which also previously reversed the earlier sharp primary impulse wave ① in February, as can be seen from the daily Nikkei 225 chart below. The support zone near the support level 15000.00 was strengthened by the lower daily Bollinger Band. Given the clear bullish divergence that can be seen on the daily RSI indicator – Nikkei 225 can be expected to rise further from the current levels toward the nearby resistance level 16000.00.

 

Forex Report: NZD/CHF

 NZD/CHF rising inside minor impulse wave 3

Likely to rise to 0.7000

478-Forex

NZD/CHF continues to rise inside the minor impulse wave 3, which recently reversed up from the support zone lying between the pivotal support level 0.6850 (former major resistance level which reversed earlier waves Ⓐ and (B), acting as support now after it was broken previously) and the 38.2% Fibonacci correction of the previous sharp upward impulse from the end of earlier wave (2). NZD/CHF is likely to rise further toward the next round resistance level 0.7000 (which reversed the pair earlier this month).

 

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