GBPUSD Tests Upper Boundary of Trading Range
GBPUSD is moving higher over the last 4-hour session remaining well above the short-term simple moving averages (SMAs). The RSI indicator is pointing up near the 70 level, while the MACD oscillator is holding above its trigger line in the...
Gold May Slowdown for a Correction: Elliott Wave Analysis
Gold is coming sharply to the upside as a “safe haven” asset based on the latest US-Russia tensions. Higher inflation is also one of the reasons for higher metals. Technically we see prices are coming up from 1780 in an...
Elliott Wave View: CADJPY Looking for Further Downside
Short Term Elliott Wave View on CADJPY suggests that the rally to 91.7 ended wave (2). Pair has turned lower in wave (3) with internal subdivision as a 5 waves impulse Elliott Wave structure. Down from wave (2), wave (i)...
AUD/USD Faces Uphill Task Near 0.7280
Key Highlights AUD/USD is facing a strong resistance near 0.7250 and 0.7280. A key bullish trend line is forming with support near 0.7140 on the 4-hours chart. EUR/USD might gain momentum if it settles above 1.1400. Crude oil price is...
US Retail Sales Solid for January
There is an adage on Wall Street: “Never underestimate the American consumer”., which appears appropriate for January’s retail sales data Headline US Retail Sales for January were up 3.8% MoM vs an estimate of only 2% MoM. This was the...
USDJPY Uptrend Intact as Negative Pullbacks Negated
USDJPY is exhibiting a bullish tone as it approaches the 116.00 handle after the 50- and 100-day simple moving averages (SMAs) defused sellers’ attempts to steer the pair lower. The soaring SMAs are shielding the broader ascent in the pair....
EUR/USD Consolidates in Mid-February
The major currency pair is consolidating in mid-February. On Monday, 14 February 2022, the asset is trading at 1.1340. Investors are still impressed by the January inflation data from the US. The CPI showed 7.5% y/y – the reading no...
NZDUSD Elliott Wave : Selling The Rallies At The Blue Box
In this technical blog we’re going to take a quick look at the Elliott Wave charts of NZDUSD. The pair has reached extremes in the cycle from the February 2021 peak. However cycle from the October 21st 2021 peak still...
Michigan Sentiment at Lowest Levels Since 2011, Yet It’s Inflation that Matters!
The preliminary reading for the February Michigan Consumer Sentiment was 61.7 vs an expectation of 67.5 and a January reading of 67.2. This was the lowest reading since October 2011! Most of the miss was due to the Current Conditions...
GBP/USD Outlook: Above Expectations UK GDP Lifts Sterling But Pivotal 1.3600 Barrier Caps the Action
Cable edged higher on Friday, following better than expected UK GDP data which partially offset negative impact from further rise in US inflation that fueled expectations for possible more radical action from Fed. Fresh advance continued to face strong headwinds...