GBPUSD Weekly Analysis – May 6, 2017
GBPUSD’s upward movement from 1.2109 extended to as high as 1.2984. Near term support is at 1.2756, as long as this level holds, the upward move could be expected to continue and next target would be at...
Month: May 2017
EURUSD Weekly Analysis – May 6, 2017
EURUSD continued its bullish movement from 1.0340 and the rise extended to as high as 1.1000. Near term support is at 1.0800, as long as this level holds, the bullish movement could be expected to continue and...
NZDUSD Elliott Wave View: Downside Resumes
Revised Elliott Wave view in NZDUSD suggests the decline from 3/21 high (0.709) is unfolding as a triple three Elliott Wave structure where Minute wave ((w)) ended at 0.6905, Minute wave ((x)) ended at 0.7053, Minute wave ((y)) ended at 0.6844 and...
USD/JPY Forecast May 5, 2017, Technical Analysis
The USD/JPY pair had a lot of volatility during the day on Thursday, as we tried to break above the 113 level but could not. By failing to breakout above there it shows that the market is...
USD/CAD Forecast May 5, 2017, Technical Analysis
The US dollar continues to grind sideways against the Canadian dollar as we have seen over the last couple of days. I believe that the market breaking down in WTI Crude suggests that the market will eventually...
GBP/USD Forecast May 5, 2017, Technical Analysis
The British pound rallied during the day on Thursday, as we prepared to go into the nonfarm payroll Friday. I believe that this market will continue to offer buying opportunities on pullbacks, as we have seen quite...
EUR/USD Forecast May 5, 2017, Technical Analysis
The EUR/USD pair rally during the day on Thursday, slamming into the 1.0950 level. That is the top of the recent consolidation area though, and with the job number coming out during the day as well, I...
AUD/USD Forecast May 5, 2017, Technical Analysis
The Australian dollar fell a bit during the day on Thursday, as we continue to see weakness in the commodity markets. Gold markets fell apart, and that of course is a very negative when it comes to...
AUDUSD Descending Triangle Breakdown (May 05, 2017)
AUDUSD formed lower highs and found support at the .7500 major psychological level, creating a descending triangle chart pattern. Price just broke below the triangle support, signaling that a downtrend is due. The chart pattern is approximately...
USDCAD Daily Analysis – May 5, 2017
USDCAD’s bullish movement from 1.3223 extended to as high as 1.3788. As long as the pair is in the ascending price channel on 4-hour chart, the upward movement could be expected to continue, and next target would...