GBPUSD Weekly Analysis – May 21, 2023

by ForexCycle.com | May 21, 2023 2:53 am
The GBPUSD currency pair is currently encountering a significant level of support as it approaches the rising trend line on the weekly chart. Traders are closely monitoring this level, as it could play a crucial role in...

EURUSD Weekly Analysis – May 21, 2023

by ForexCycle.com | May 21, 2023 2:47 am
The EURUSD currency pair has recently broken below the rising trend line on the weekly chart, signaling the start of a lengthier consolidation period for the long-term uptrend from 0.9535. This development has garnered attention from traders...

NASDAQ Continues Its Bullish Momentum, Eyes Higher Targets

by ForexCycle.com | May 19, 2023 10:57 am
The NASDAQ index has shown impressive strength as it extended its upward move from 10665 to reach as high as 13912, surpassing the previous high resistance at 13729. This significant breakout has caught the attention of traders...

Watch: “What’s the best time frame to trade with Elliott waves?”

by ForexCycle.com | May 19, 2023 8:40 am
A big advantage of Elliott waves is that they work at all timeframes. That’s a big claim! Is it legit? You bet. In a new, 15-minute trading lesson that uses LMT, GDX and S&P 500 as examples, our Trader’s Classroom editor Robert Kelley shows exactly...

USDCAD Analysis – May 19, 2023

by ForexCycle.com | May 19, 2023 8:37 am
The USDCAD pair has been trading within a relatively range, moving sideways between the support level at 1.3403 and the resistance level at 1.3567. This consolidation phase indicates a temporary pause in the market as buyers and...

USDJPY Analysis – May 19, 2023

by ForexCycle.com | May 19, 2023 8:33 am
The USDJPY pair has exhibited a strong upside move from its low point at 133.49, extending its rally to reach as high as 138.74. Traders are closely monitoring the pair as it continues to demonstrate bullish momentum,...

AUDUSD Analysis – May 19, 2023

by ForexCycle.com | May 19, 2023 8:28 am
The AUDUSD pair has experienced an extended downside move, following a decline from its peak at 0.6817. Currently, the pair is testing the previous low support at 0.6573, indicating a potential bearish continuation. Traders and investors are...

GBPUSD Analysis – May 19, 2023

by ForexCycle.com | May 19, 2023 8:17 am
The GBPUSD pair has experienced a continued downside move, with the price extending as low as 1.2391 from its recent peak at 1.2679. Traders and investors are closely observing the market as the pair remains under pressure,...

EURUSD Analysis – May 19, 2023

by ForexCycle.com | May 19, 2023 8:12 am
The EURUSD pair has witnessed a continued downward movement, with the price reaching as low as 1.0759, extending the decline from its recent peak at 1.1091. Traders are closely monitoring the market as further downside potential remains....

USDCAD Analysis – May 18, 2023

by ForexCycle.com | May 18, 2023 12:51 pm
The USDCAD pair has been trading within a relatively range, oscillating between the levels of 1.3403 and 1.3567. This sideways movement suggests a period of consolidation as the market awaits a clear breakout direction. For the past...