Short Term Elliott Wave view in FTSE 100 suggests the rally from 4/20 low (7096.6) is unfolding as a zigzag Elliott Wave structure where Minute wave ((a)) ended at 7302.57 and Minute wave ((b)) ended at 7197.28. Subdivision of Minute wave ((a)) is...
EURUSD broke above the upper line of the price channel on the daily chart, which provided resistance around 1.1060, indicating that a new bullish movement had started. Further rises could be expected over the next several days...
The USD/JPY pair broke down significantly during the Wednesday session, slicing below the 112 level, an area that I thought would be very supportive. The fact that we broke down below this is a bit disconcerting for...
The USD/CAD pair chopped around quite significantly during the day on Wednesday, as the oil inventory numbers in the United States were bullish as we continue to see demand. However, we also have a bit of a...
The GBP/USD pair rallied during the day after initially grinding sideways on Wednesday. The 1.30 level above continues to offer a significant amount of resistance, and certainly a psychological barrier for markets to deal with. If we...
The EUR/USD pair was relatively volatile during the day on Wednesday, as we initially shot higher, pulled back to the daily open, and then rallied from there. We are well above the 1.11 level, and that of...
The Australian dollar has had an interesting day on Wednesday, as we fell significantly, but then turned around to find support just below the 0.74 handle. This is a large, round, psychologically significant number, so it makes...
GBPUSD has been trending higher recently, moving inside an ascending channel visible on its 1-hour and 4-hour charts. Price just bounced off support and could be due for a test of resistance from here. The 100 SMA...
USDCAD remains in downtrend from 1.3793. Further decline is still possible over the next several days and next target would be at 1.3500 area. Resistance levels are at 1.3640 and 1.3670, only move above these levels could...
USDJPY continued its downward movement and the fall extended to as low as 110.52. Further decline is still possible after a minor consolidation and next target would be at 109.50 area. Resistance is at 111.60, only move...
