Short term Elliott Wave view in Gold (XAUUSD) suggests that cycle from 4/10 low (1246.92) is unfolding as an impulse Elliott wave structure where Minutte wave ((i)) ended at 1257.2, Minutte wave (ii) ended at 1250.8, Minute wave (iii) ended at...
The USD/JPY pair did almost nothing during the day on Wednesday, as traders took a breather after the massive bearish candle that had formed on Tuesday. Because of this, it’s likely that the market will need to...
The USD/CAD pair fell during the session on Wednesday, crashing into the 1.3250 level. The market has been consolidating for some time, and the market looks as if it is trying to test that support area. If...
The GBP/USD pair initially rally during the day on Wednesday, but ran into a little bit of trouble at the psychologically important 1.25 handle. That’s not a huge surprise, it is an area where you would expect...
The EUR/USD pair had a slightly positive session on what would have been a basically quiet session during the Wednesday trading session. I believe that the market still has a lot of negative pressure on it though,...
The Australian dollar fell during the day on Wednesday, as the 0.75 level continues to offer resistance. It now looks as if we are going to try to reach towards the 50% Fibonacci retracement level below, at...
The term ‘price channel’ refers to a special graphical tool used by Forex traders to make buying and selling decisions. On the one hand, it is quite a complex tool, because the data it provides is influenced...
USDCAD broke below 1.3264 support. Further decline is still possible after a minor consolidation and next target would be at 1.3150 area. Near term resistance is at 1.3300, as long as this level holds, the downtrend will...
USDJPY’s downward movement from 111.57 extended to as low as 108.81. Further decline could be expected in a couple of days, and next target would be at 108.00 area. Resistance is at 109.90, as long as this...
AUDUSD broke above 0.7514 resistance, indicating that the downward movement from 0.7679 had completed at 0.7473 already. Further rise could be expected and next target would be at 0.7570, followed by 0.7600. Support levels are at 0.7500...
