USDCAD Daily Analysis – December 22, 2016
USDCAD continued its upward movement from 1.3080 and the rise extended to as high as 1.3446. Near term support is at the upward trend line on 4-hour chart. As long as the trend line support holds, the...
Month: December 2016
AUDUSD Daily Analysis – December 22, 2016
AUDUSD’s downward movement from 0.7524 extended to as low as 0.7219. Near term resistance is at 0.7280, as long as this level holds, the downtrend could be expected to continue, and next target would be at 0.7000...
EURUSD Daily Analysis – December 22, 2016
EURUSD moved sideways in a trading range between 1.0352 and 1.0479. As long as 1.0500 resistance holds, the price action in the range could be treated as consolidation of the downtrend and further decline to 1.0200 area...
USD/JPY Forecast December 21, 2016, Technical Analysis
The USD/JPY pair rallied on Tuesday, as we continue to see quite a bit of volatility in this pair. This is a market that continues to find buyers every time we drop, because of the relative “value”...
USD/CAD Forecast December 21, 2016, Technical Analysis
The USD/CAD pair initially tried to rally on Tuesday, but turned around to form a slightly negative candle. This slightly negative candle could lead to a short-term pullback, but I think that the markets may settle down...
GBP/USD Forecast December 21, 2016, Technical Analysis
The GBP/USD pair fell during the session on Tuesday, breaking below the bottom of the uptrend line from previous weeks. Because of this, I think that the market is going to start drifting lower, and if we...
EUR/USD Forecast December 21, 2016, Technical Analysis
The EUR/USD pair fell on Tuesday, making a fresh, new low. In fact, this was a 14 year low in this pair, so it’s obvious that the Euro is absolutely broken. Currently, I believe that the rallies...
AUD/USD Forecast December 21, 2016, Technical Analysis
The AUD/USD pair initially fell on Tuesday, but found enough support just above the 0.72 level to turn things around and form a hammer. The hammer of course is a very bullish sign, but even if we...
EURAUD Descending Channel (Dec 21, 2016)
EURAUD has been trending lower on its 1-hour chart, moving inside a descending channel connecting the latest highs and lows. Price just bounced off the channel resistance at the 1.440 major psychological level and could head back...
How to Get a Firm Handle on Gold’s Ups and Downs
By Elliott Wave International ********* Hardly anyone likes gold today. In the closing days of November, the Daily Sentiment Index (trade-futures.com) registered a ten-day average of just 9.1% gold bulls. That was only the third time in...