GBPUSD Wave Analysis
GBPUSD reversed from round support level 1.3000 Likely to rise to resistance level 1.3160 GBPUSD currency pair today reversed up with the daily Hammer from the round support level 1.3000 (which stopped the previous sharp impulse wave 1 in the...
The Weekly Bottom Line: Canada – Rate Hikes Ahead
U.S. Highlights The first full week of the second quarter was sparse on economic data. The service sector showed signs of modest acceleration, while vehicle sales declined for the second consecutive month in March. The Federal Open Market Committee (FOMC)...
Canadian Jobs Data In-line; Full Time Jobs Strong
What makes this number strong is that the amount of full-time jobs was +92,700 vs a loss of 29,300 part-time jobs. With the 1st of April last Friday, Canada waited until the next week (today) to release its March jobs...
NZDUSD Wave Analysis
NZDUSD reversed from resistance zone Likely to fall to support level 0.6830 NZDUSD currency pair recently reversed down from the resistance zone located between the round resistance level 0.7000 and the upper daily Bollinger Band. The pair just broke the...
USD/JPY Outlook: Bulls Tighten Grip and Look for Retest of 2022 High
The USDJPY continues to trend higher and extend uninterrupted recovery from a higher base at 121.27 (Mar 30/31) into sixth straight day, on track for the fifth consecutive strong weekly gains. Today’s acceleration cracked pivotal Fibo resistance at 124.19 (76.4%...
USDCAD Struggles to Surpass 38.2% Fibo Around 1.2600
USDCAD created an impressive bullish rally after the rebound off the 50.0% Fibonacci retracement level of the up leg from 1.2000 to 1.2960 at 1.2485 and is now struggling to surpass the 38.2% Fibonacci of 1.2595 and the 200-day simple...
GBPUSD Elliott Wave : Forecasting The Short Term Path
Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of GBPUSD. The pair has given us nice trading opportunity recently. We have been selling the rallies at 1.3298-1.3348 area as...
AUDUSD’s Bullish Bias Intact Despite Pullback
AUDUSD is resting on the 0.7531-0.7555 support band that includes the mid-Bollinger band after retreating from its nine-and-a-half-month high of 0.7661. The advancing simple moving averages (SMAs) are endorsing the uptrend that began at the beginning of February. Meanwhile, the...
EURGBP Buyers Re-Emerge after One-Week Descent
EURGBP is seeing lingering downside risks despite an increase in buying interest around the 0.8327 level, which unfolded slightly below the simple moving averages (SMAs). That said, from the beginning of the year, the broader bearish trend has glided into...
AUD/USD Rallies Above 0.7600, FOMC Next
Key Highlights AUD/USD started a strong increase above the 0.7520 resistance. A key bullish trend line is forming with support near 0.7530 on the 4-hours chart. EUR/USD extended decline below the main 1.0950 support. GBP/USD failed to clear the 1.3200...