Elliott Wave Analysis: Gold Within A Three-wave Correction!
Gold made a five-wave drop from the 1358 high, which is an indication of a top in place for wave 3, and that a temporary change in trend is in progress. We are observing a three-wave corrective retracement, that can...
WTI Oil Outlook: Near-Term Risk Shifts Lower As 10SMA Continues To Cap
WTI oil price was a tad lower in Europe on Monday after advancing last Thu/Fri on rising tensions in the Middle East after two tankers were attacked in Gulf. Overall structure remains bearish as fears of lower global demand on...
Market Morning Briefing: Aussie Remains Bearish
STOCKS Global equities like the Dow and DAX remains mixed in the near-term while the broader picture continues to remain positive. Nikkei is heading towards a crucial resistance which has to be broken to extend the upmove. Shanghai retains its...
Gold Pares Gains Post US Retail Sales
US retail sales in May beat expectations, increasing by 0.5%, more than the 0.4% that was expected. April figures were also revised upwards. The dollar strengthened on the release; gold fell away from its session high and year to date...
GBPUSD Turns Lower On More Bearishness
GBPUSD turns lower on more bearishness following its recent weakness. Support lies at 1.2600 as it looks for more weakness. Below that level will turn attention to the 1.2550 level. Further down, support comes in at the 1.2500 level where...
EUR/USD Outlook: Euro Falls Further after Strong US Retail Sales
The Euro accelerated lower after Strong US retail sales (May 0.5% vs Apr 0.3%, revised upward from -0.2%) inflated dollar and reduced greatly probability of rate cut on FOMC policy meeting next week. Fresh weakness surged through Fibo support at...
S&P 500 Futures (ES_F) Buying The Elliott Wave Dips
In this technical blog, we are going to take a look at the past performance of 4 hour Elliott Wave Charts of S&P 500 Futures (ES_F), which we presented to members at elliottwave-forecast.com. In which, the cycle from 12/26/2018 low...
AUD/USD Outlook: Aussie Remains Firmly In Red On Fears Of Another RBA Rate Cut
The Australian dollar extends steep five-day fall and probes below 0.6900 handle on Friday, pressured by fears of another RBA rate cut next month. Weaker than expected Chinese IP added to negative outlook, as markets await for release of US...
EURAUD Tries To Jump Above Ascending Channel, Strongly Positive
EURAUD is extending its gains over the last couple of weeks, recording a fresh more than five-month high around 1.6350. Thus, the short-term picture thus seems to be strongly positive, as the RSI is hovering in the overbought territory and...
GBPUSD Needs To Bounce
The British pound has continued to slip lower against the US dollar during the European trading session, with the pair testing towards its key weekly trading low. If the GBPUSD pair fails to bounce from current levels, further losses toward...
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