GBPCAD Posts 20-Month Low, Looks For A Rebound In Short-Term
GBPCAD is currently trading not too far away from yesterday’s 20-month low of 1.6572, having pulled back marginally. The momentum indicators suggest that there is a potential for an upside correction. The RSI, which has been moving around its 30...
AUDUSD Remains On The Offensive On Correction
AUDUSD remains on the offensive on correction with more gain expected. On the upside, resistance lies at the 1.7050 level. A cut through here will turn attention to the 0.7100 level and then the 0.7150 level where a violation will...
Brent Crude – Has the Rally Run its Course?
Can oil continue to rally? Prior to the latest eruption in the crypto space, Brent crude (oil) was looking like the volatile player in the market but these moves pale in comparison. Oil prices have sprung back to life over...
Elliott Wave Analysis: USD/CAD And OIL Facing Reversals!
USDCAD perfectly hit 1.3100 target for wave »v« and at the same time even a negative correlated market crude oil can be approaching 5th wave, so we would not be surprised if we see some reversals at least in three...
Elliott Wave Analysis: EURAUD Aiming For 1.6200
As expected, EURAUD broke below channel support line and 1.6285 region, so seems like trend is bearish confirmed, and it can be unfolding a new five-wave bearish cycle towards 1.6200 level or maybe even lower. That said, be aware of...
EUR/JPY Trying to Break Higher
This is a quick note to highlight a potential reversal in the EUR/JPY, which was in the process of forming further bullish price action after it created a large bullish engulfing candle on Friday. At the time of this writing,...
GBP/USD Outlook: Cable Extends Pullback On Comments From Johnson/Fed, BoE Carney’s Speech In Focus
Cable extends pullback on Wednesday after double rejection at key Fibo barrier at 1.2763 (38.2% of 1.3179/1.2505), probing through lower pivots at 1.2677 (Fibo 38.2% of 1.2505/1.2783 upleg/30SMA) and 1.2667 (20SMA). Fresh bears are inflated by comments from PM candidate...
Elliott Wave Analysis: Bears May End on USD Index?
USD Index is clearly bearish, down from 97.7 region, where a former higher degree a-b-c pullback had found resistance and pushed price into a sharp fall. We labelled a new, higher degree, five-wave cycle in progress, with price now unfolding...
Gold – Can Anything Stop the Rally?
Gold is flying once again as it looks to extend its winning streak to six days and build on the almost 7% gains it’s made in that time. Gold Daily Chart All you have to do is look at a...
GBPUSD Bullish Above 1.2730
The British pound is attempting to gain upside momentum against the greenback after slipping back towards the 1.2700 level in early week trade. GBPUSD bulls need to sustain price above the 1.2730 level and stage a breakout above the 1.2770...
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