Aussie and Copper in for Weaker Prices – Elliott Wave Analysis
Aussie is currently turning down from the first 0.73 resistance. Move is quite strong, so it can be considered as a resumption of the downtrend into a much lower wave c. However, the US sessions can be very tricky, and...
Elliott Wave View: GBPJPY Zigzag Correction In Progress
Elliott Wave View of GBPJPY shows that pair has ended the cycle from June 21 in wave A at 142.70 high. Pair is currently doing a pullback in wave B, which is unfolding as a zigzag correction. Down from wave...
WTI Oil Outlook: Oil Extends Steep Fall Into Fourth Straight Day And Hits Two-Month Low
WTI oil holds firmly in red for the fourth straight day and fell to new two-month low $38.52) on Monday, following massive fall (4.36% on Friday). Oil price fell over 8% in three days (Wed/Thu/Fri) with today’s extension lower marking...
USD/CAD Analysis: Decline Could Continue
The US Dollar declined by 91 points or 0.69% against the Canadian Dollar on Friday. The currency pair failed to surpass the upper boundary of a descending channel pattern during Friday’s trading session. Technical indicators flash selling signals on the...
USD/CAD Analysis: Decline Could Continue
The US Dollar declined by 91 points or 0.69% against the Canadian Dollar on Friday. The currency pair failed to surpass the upper boundary of a descending channel pattern during Friday’s trading session. Technical indicators flash selling signals on the...
NZDUSD’s Foothold Near 50-MA Rescues Positive Bias
NZDUSD’s draw back from the 13½-month high of 0.6789 appears to be restoring positive sentiment, after finding some traction around the 50-period period simple moving average (SMA) at 0.6687. The advancing SMAs and the approaching bullish crossover of the 200-period...
Gold Triangle Pattern Completing Final Wave E Pattern
Gold (XAU/USD) is confirming a contracting triangle chart pattern. This price pattern was expected in our analysis after price action strongly dropped within a large and established uptrend. Is the triangle now close to being completed? Price Charts and Technical...
USD/TRY Outlook: Turkish Lira Falls To New Record Low
Bulls are consolidating under new marginally higher new record high (7.4542), following Thursday’s nearly 0.8% advance after data showed that inflation remains high (m/m 0.86% from 0.58% prior, y/y 11.77% from 11.76 prior). Stubbornly high inflation, without any signs of...
WTI Oil Futures Heal After Slump, Trend Signals Turn Reddish
WTI oil futures for October delivery are healing after crashing below the 200-period simple moving average (SMA) on the four-hour chart and to a one-month low of 40.21 on Thursday. While the fast Stochastics have yet to enter the overbought...
XAU/USD Pressured By Moving
Yesterday, the XAU/USD exchange rate traded sideways in the 1,935.00 area. During Friday morning, the rate maintained its consolidation. Given that yellow metal is pressured by the 55– and 200-hour moving averages near 1,945.00, it is likely that some downside...
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