Short term USDX index Elliott Wave view suggests that the decline to 8/02 (92.54) low ended intermediate wave (3) then the rally from there is unfolding as a a double three Elliott wave structure. As the structure from the...
NZDJPY appears to be done with its tumble as price is forming an inverse head and shoulders pattern on its 1-hour time frame. Price also seems to have broken past the neckline at 80.00 to confirm that...
After breaking below the May 2016 low of 1.2460 support, USDCAD rebounded strongly from 1.2413 and moved above the bearish trend line on its daily chart. However, the bounce from 1.2413 would possibly be consolidation of the...
The US dollar rallied a bit during the day on Wednesday, going into the FOMC Meeting Minutes. We initially reached towards the 111 handle, but then pulled back to find bits of support. I think the market...
The USD/CAD pair fell significantly during the session on Wednesday at the open, but the 1.27 level has been offering a bit of support. At this point, I would anticipate that the buyers may return to the...
The British pound went sideways during most of the session on Wednesday, hugging the 1.2850 level. The market is waiting to see with the Federal Reserve is thinking, and the Meeting Minutes could have a lot to...
The EUR/USD pair fell during the trading session on Wednesday, testing the 1.17 level underneath. This is an area that should continue to offer a bit of interest, but with the FOMC Meeting Minutes coming out, it’s...
The Australian dollar rallied significantly during the day on Wednesday, but found the 0.79 level above to be a bit resistant. Quite frankly, I think this will be and I selling opportunity unless we break above the...
USDCAD broke below 1.2650 support, indicating that the short term uptrend from 1.2413 had completed at 1.2778 already. Further decline to test 1.2413 previous low support is possible in the coming days. Resistance levels are at 1.2690...
USDJPY is in uptrend from 108.73, the fall from 110.94 could be treated as correction of the uptrend. Near term support is at 109.50, as long as this level holds, the uptrend could be expected to resume,...
