USDX forecasting the decline after Flat
Hello fellow traders. In this technical blog we’re going to take a quick look at the past Elliott Wave charts of Dollar Index . We’re going to take a look at the price structures of USDX ,...
Month: May 2017
ES_F Elliott Wave View: Ending Impulse
Short Term Elliott Wave view in ES_F suggests the rally to 2403.75 ended Minor wave A. Minor wave B unfolded as an Expanded Flat Elliott Wave structure where Minute wave ((a)) ended at 2379, Minute wave ((b)) ended at 2404.5, and Minute wave...
EURGBP Might Be Forming Double Bottom Pattern
EURGBP might be forming a double bottom pattern on its daily chart. The first bottom is at the December 2016 low of 0.8304, and the second bottom is at the April 18 low of 0.8313. The neckline...
USD/JPY Forecast May 24, 2017, Technical Analysis
The USD/JPY pair was very quiet during most of the session on Tuesday, but then found the 111 level to be supportive enough to cause a significant rally. The Japanese yen sold off later in the session,...
USD/CAD Forecast May 24, 2017, Technical Analysis
The USD/CAD pair fell during the session on Tuesday, breaking below the 1.35 level again. The oil markets have seen a significant amount of buying pressure, and with the OPEC meeting coming later this week, this pair...
GBP/USD Forecast May 24, 2017, Technical Analysis
The GBP/USD pair was initially soft during the session on Tuesday, but found enough buying pressure underneath the 1.30 level to continue to go higher. We still have a significant amount of resistance at the 1.3050 level...
EUR/USD Forecast May 24, 2017, Technical Analysis
The EUR/USD pair had a relatively stable session on Tuesday, as the 1.12 level underneath continues to offer support. With recent comments coming out of Angela Merkel suggesting that the common currency is far too cheap, the...
AUD/USD Forecast May 24, 2017, Technical Analysis
The Australian dollar had an interesting session on Tuesday, as we broke above the psychologically significant 0.75 level, but turned around to form a less than stellar move. If we can break down below the 0.7450 level,...
NZDJPY Breakdown Pullback (May 24, 2017)
NZDJPY recently broke below a short-term rising trend line support and dipped close to the 76.00 mark. Price pulled up from there and looks ready to retest the broken support. Applying the Fib tool on the latest...
USDCAD Daily Analysis – May 24, 2017
USDCAD moved in a bearing price channel on 4-hour chart and just bounces off the bottom support trend line. Further rally is possible and the target would be at the top resistance trend line. However, as long...