Short term GBPJPY Elliott Wave view suggests the decline from 5/10 high shows a 5 swing sequence, thus favoring more downside. Decline from 5/10 high is unfolding as a double three Elliott Wave structure. Down from 5/10 peak (148.11), Minor wave...
USDJPY stays below the bearish trend line from 111.71 to 110.81 with resistance at around 110.20 on its 4-hour chart, suggesting that the pair remains in bearish movement from the May 11 high of 114.36. As long...
The US dollar fell precipitously during the session on Wednesday, as we guide very poor numbers coming out the United States. However, there is an interest rate decision coming out later in the day, and the wording...
The US dollar fell against the Canadian dollar again during the session on Wednesday, breaking below the 1.32 level. However, there are a lot of concerns when it comes to betting against the US dollar when it...
The British pound was volatile during the day on Wednesday as we continue to slice around the 1.2750 region. We broke above the 1.28 level, which is a bullish sign but I think a lot of what...
The EUR/USD pair shot like a rocket into the stratosphere after less than impressive US numbers came out during the early New York trading. However, the 1.13 level is offering a bit of resistance as I record...
The Australian dollar exploded to the upside during the day on Wednesday, in anticipation of the Federal Reserve meeting announcement. While an interest rate hike is expected out the United States, the market is starting to bet...
EURCAD recently broke below a rising wedge formation visible on its 4-hour time frame, signaling that bearish pressure has returned. Price dipped to the 1.4800 area before showing signs of a pullback. Applying the Fibonacci retracement tool...
USDCAD remains in downtrend from 1.3537, the bounce from 1.3164 is likely consolidation of the downtrend. Resistance is at 1.3300, as long as this level holds, the downtrend could be expected to continue and next target would...
USDJPY’s bearish movement from 114.36 extended to as low as 108.81. Near term resistance is at the descending trend line on the 4-hour chart. As long as the pair is below the trend line, the bearish movement...
