USD/JPY Outlook: Corrective Bounce Likely To Precede Fresh Weakness
The pair rebounds from new multi-month low at 107.04 on Friday as traders take profits from post-Fed two-day 1.1% fall. Oversold daily studies support the action which eyes barriers at 107.81/98 (former low of 5 June / falling 5SMA), ahead...
US30 Index Returns to Record Highs
US30 stock index (Dow Jones) is currently flirting with May’s peak of 26,707 but the positive momentum in the MACD, which trends above its red signal line, suggests that September’s record high of 26,951 could be achievable as well. Still,...
WTI Oil Futures Rally to 3-Week High after Breaking 50% Fibo
WTI oil futures for August delivery managed to break resistance around the 50% Fibonacci of the 42.53-66.57 upleg and pick up steam towards a new three-week high of 56.33 on Thursday. However, buyers would like to see prices running above...
EUR/USD Outlook: Strong Bullish Signal On Break Above Major Resistances
The Euro cracked psychological 1.1300 barrier in extension of strong post-Fed rally on Thursday, which broke through key barriers at 1.1279/84 (daily cloud top / broken bear-trendline / Fibo 61.8% of 1.1347/1.1181 fall). Euro’s sentiment improved strongly after Fed confirmed...
GBP/USD: Sterling Extends Recovery ahead of Fed
Cable accelerated higher in US trading on Wednesday, boosted by profit taking from last week’s fall and solid UK inflation data. The move can be also seen as positioning ahead of key event today, Fed rate decision, as wide expectations...
Elliott Wave Analysis: AUDUSD Dropping Temporarily; 0.690 in View!
Aussie is dropping as expected from the 0.688 level where a temporary top for wave a)/i) of a three-wave move had been located. Current three-wave drop can now be labelled as wave b)/ii), with possible support, and turning point zone...
GBP/USD Outlook: UK Inflation Below 2% Could Further Depress Pound
Cable is trading within narrow range in early European session and awaiting release of UK inflation data which are expected to provide fresh signal. The pair was so far unable to benefit from Tuesday’s bullish close (the first after five...
CRUDE OIL Recovers Further Higher On Correction
CRUDE OIL recovers further higher on correction. Support lies at the 53.00 level where a break will expose the 52.30 level. A cut through here will set the stage for a run at the 52.00 level. Further down, support comes...
Gold Spikes to 14-Month Highs; Could Gain More
Gold bulls took over again on Tuesday, driving the price near Friday’s 14-month high of 1,358. The location of the RSI – above 70 – hints that the bullish action may be overdone, and therefore no space is left for...
Elliott Wave View: Further Weakness In GBP/USD Expected
Short Term Elliott wave view in GBPUSD suggests the decline from June 7 high is unfolding as an impulse Elliott Wave structure. Down from 1.276, wave (i) ended at 1.265 with internal as an impulse in lesser degree. Wave (ii)...
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