Forexomni

Natural Gas (NATGAS) has completed a corrective ABC pattern within a well-defined descending channel on the 4H timeframe, with the final C wave concluding in a clear 5-wave Elliott structure—signaling the end of the bearish cycle. The recent impulsive breakout above the upper trendline of the channel, supported by strong bullish momentum and volume, confirms a structural shift in market sentiment. From a technical standpoint, the break of the channel and the impulsive move past the resistance zone (highlighted in yellow) validate a bullish reversal, aligning perfectly with the projection arrow on the chart. Fundamentally, seasonal demand increase, potential supply disruptions, and geopolitical tensions around key gas-producing regions may further fuel upside momentum. This confluence of technical breakout and supportive fundamentals strongly suggests the potential for a bullish rally toward the 4.200 level in the near term.

AUDJPY is presenting a compelling technical setup, combining a series of lower lows with emerging higher lows—hinting at potential bullish pressure building beneath the surface. The completion of wave C suggests the end of a corrective phase within a larger structure, and price is now testing a well-respected descending trendline acting as dynamic resistance. This confluence zone could prove pivotal; a strong rejection here would align with the broader bearish momentum, while a clean breakout above the trendline may open the door for a fresh impulsive leg to the upside. Patience and confirmation are key at this level.

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Gold has approached a critical confluence zone, resting on a major horizontal support aligned with the 61.8% Fibonacci retracement—historically a strong reversal level during corrective phases. While this area technically suggests the end of the current pullback, the upcoming NFP release introduces heightened volatility and uncertainty. That said, if price action holds above this zone and we see bullish confirmation, it could trigger a fresh impulsive leg to the upside. This setup offers a favorable risk-reward profile for long positions, but precision and discipline are key given the fundamental headwinds.

CHFJPY is currently testing a key horizontal resistance level that has historically acted as a strong supply zone, where bullish momentum consistently fades and sellers regain control. The current price action shows clear signs of exhaustion, with consolidation forming just below resistance—suggesting a potential completion of Wave B in a classic corrective structure. Given this context, the probability of a bearish reversal is high, with Wave C likely to unfold toward the lower support zone. This setup aligns perfectly with both price behavior and Elliott Wave dynamics, making it a compelling short opportunity for experienced traders.

EURGBP has respected the 50% Fibonacci retracement level, pulling back into a key support zone that previously acted as resistance—now a classic case of resistance-turned-support. The pair appears to have completed an impulsive Wave 3 and is currently in a Wave 4 correction, finding stability at a critical structural level. As long as the price holds above this zone, the probability of a bullish continuation remains high, setting the stage for the final push towards Wave 5. This level will be crucial for confirmation, and a sustained move above it could trigger the next leg higher in line with the Elliott Wave structure.

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EURCHF has staged a strong rebound off the key support zone, signaling a clear shift in momentum as buyers regain control. The clean break above minor resistance confirms bullish intent, and the subsequent retest has held firmly—strengthening the case for continuation. With this structure, the pair is now set to challenge the higher-timeframe supply zone, where the last significant sell-off began. As long as the retest remains intact, the path of least resistance is to the upside, and we anticipate a measured move toward the upper resistance zone in the coming sessions.

Gold is currently in a corrective phase, and the decline appears to be unfolding as Wave (4), with the price still holding above the termination point of Wave (1)—preserving the integrity of the impulsive wave structure. As long as this non-overlap condition remains intact, the wave count is technically valid. Given the sharp and swift nature of Wave (2), we can reasonably anticipate a more complex and time-consuming correction in Wave (4), possibly taking the form of a triangle or a sideways flat. The current structure is still developing, and forcing early conclusions would be premature. In such phases, patience is not just a virtue—it’s a trading edge. The key now is to wait for confirmation through price action and structure, rather than reacting emotionally to short-term moves. I continue to monitor the chart closely and will adjust bias the moment clarity emerges.