AUD/USD Forecast May 17, 2016, Technical Analysis
The AUD/USD pair tried to rally during the day on Monday, and did manage to get above the 0.73 level, but could not hang onto the gains in the end. It looks as if there is a...
Month: May 2016
EURGBP Head and Shoulders (May 17, 2016)
EURGBP could be in for a longer-term selloff, as a head and shoulders pattern is being completed on the pair’s daily time frame. Price is on its way to test the neckline around the .7750 minor psychological...
USDJPY Downtrend Correction (May 16, 2015)
USDJPY has been trending lower on its 4-hour chart, moving below a descending trend line connecting the latest highs of price action. The pair is currently stalling between the 50% and 61.8% Fibonacci retracement levels, which keep...
This Free Report Helps You Improve Your Trading with an Objective Method
You’ve heard the common trading advice: “Successful traders know how to control their emotions, instead of being controlled by their emotions.” I bet you’re thinking easier said than done, huh? As a trader, you’re bombarded with countless...
Reviewing the Basics of the Elliott Wave Principle: The Ending Diagonal
By Elliott Wave International The Wave Principle classifies price action as either motive or corrective. Motive waves move in the direction of the trend and include impulse waves and diagonals. Today, you can listen to a lesson...
USDCAD Weekly Analysis – May 15, 2016
USDCAD is now in uptrend from 1.2460. Further rally could be expected over the next several weeks, and the target would be at 1.3600 area. Support levels are at 1.2700 and 1.2460, only break below these levels...
USDJPY Weekly Analysis – May 15, 2016
USDJPY remains in downtrend from 123.75, the rise from 105.54 is likely consolidation of the downtrend. Near term resistance is at the downward trend line on daily chart, as long as the trend line resistance holds, the...
AUDUSD Weekly Analysis – May 15, 2016
AUDUSD’s downward movement from 0.7834 extended to as low as 0.7253. Near term resistance is at 0.7450, as long as this level holds, the downtrend could be expected to continue, and next target would be at 0.7000...
GBPUSD Weekly Analysis – May 15, 2016
GBPUSD is now in downtrend from 1.4769. Further decline could be expected over the next several weeks, and next target would be at 1.4000 area. Resistance levels are at 1.4550 and 1.4769, only break above these levels...
EURUSD Weekly Analysis – May 15, 2016
EURUSD stays in the upward price channel on daily chart, and remains in uptrend from 1.0517, the fall from 1.1616 is likely consolidation of the uptrend. Support is located at the bottom of the channel. As long...