Bears Taking Over USDCAD – Elliott Wave Analysis
USDCAD made a firm decline below the lower corrective channel line connected from 1.3 level, which is a confirmation that corrective wave 4 of a bigger impulse is completed, and a five-wave move for a wave 5 underway. We are...
EUR/JPY Breakout Could Occur
The common European currency declined by 51 pips or 0.41% against the Japanese Yen on Monday. The decline was stopped by the 200– hour simple moving average during yesterday’s trading session. The currency pair breached the 200– hour SMA on...
LTCUSD Correction Likely
Litecoin is starting to test back towards the $50.00 level after finding strong technical resistance from down slopping trendline resistance. Short and medium-term LTCUSD traders are likely to buy into price dip towards the $47.00 to $45.00 technical support zone....
Pound Primed for Consolidation
On Monday, October 12th, 2020, the British Pound remains “in the black” and is primed for consolidation. The instrument is mostly trading at 1.3038. The Pound had a positive reaction to the GDP report published by the United Kingdom last...
EUR/USD Trades Within Ascending Channel
On Friday, the EUR/USD currency pair reversed south from the upper line of the short-term ascending channel. From a theoretical point of view, it is likely that the exchange rate could re-test the lower channel line located circa 1.1770. It...
EUR/NZD Deep Retracement For Fresh Buying
The EUR/NZD has formed a consolidation pattern around 88.6 fib, straight in the 78.6-88.6 trading zone. The price might move straight from the zone towards D H3 – 1.7790 and W H3 -1.7819. Have in mind that a momentum push...
NZD/JPY Eyeing 71.0 Area – Elliott Wave Analysis
NZDJPY is moving to the upside as expected since yesterday, after we noticed a completed correction in B)/2). We see a firm recovery, that also broke above the upper trendline, which is a signal for more upside towards the 71.0...
NZDUSD Displays Directionless Market; Advances Curbed by 100-MA
NZDUSD appears to be stuck in a horizontal market, backed by the Ichimoku cloud, and is currently capped by the downward sloping 100-period simple moving average (SMA) at 0.6620. The pair is struggling to overtake this level that also happens...
CADJPY Advances To Fresh Highs Within Overbought Area
CADJPY had its best week since early August, appreciating by 1.5% to an almost one-month high of 80.44. In the four-hour chart, the pair rallied beyond its 200-period simple moving average (SMA), while the 20-period SMA has further reduced its...
AUD/CHF 4H Chart: Bears Could Prevail
The AUD/CHF exchange rate has been trading within a descending triangle pattern since the end of August. Given that the currency pair is pressured by the 55– and 100-period moving averages near 0.6570, it is likely that a breakout south...
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