GER 40 Breaks Above Daily Resistance
The Dax 40 climbed higher as investors favor value stocks in telecoms, transportation, and utilities. A break above December’s high at 15840 is a strong signal that the bulls may have had the last word. Trend followers would jump in,...
GBP/USD Consolidates Gains
Growing risk appetite weighs on a safer US dollar. The rally above 1.3360 confirms that short-term sentiment has turned around. However, the push might have run out of steam as the RSI shows a bearish divergence. The deceleration indicates limited...
Elliott Wave View: AUD/USD Approaching Inflection Area
Elliott wave view in AUDUSD suggests the decline from February 25, 2021 high is unfolding as a double three Elliott Wave structure. Down from February 25 high, wave ((W)) ended at 0.7106 and rally in wave ((X)) ended at 0.756....
USD/CAD Could Resume Upside Unless 1.2765 Fails
Key Highlights USD/CAD started a downside correction from the 1.2965 zone. A major bearish trend line is forming with resistance near 1.2820 on the 4-hours chart. EUR/USD is facing a major hurdle near the 1.1350 resistance zone. Gold price failed...
US Dollar Slammed Into London Fix. What Next For EUR/USD And GBP/USD?
The US Dollar Index (DXY) was hit heading into the London fix. Although many large trading firms and hedge funds closed shop for the year, there are still some left trading. There are also pension funds that need to mark...
AUDJPY’s Growing Bullish Bias is Under Microscope
AUDJPY’s fresh minor pullback from 83.42 has found some footing off the blue Kijun-sen line at 82.78 keeping the latest outlook bullish as the pair continues to plot higher highs and lows. The rising 50- and 100-period simple moving averages...
EURGBP Directed Lower by 200-MA
EURGBP sellers have remained in control for more than a week, exacerbating a downward move beneath the Ichimoku cloud after the 200-day simple moving average (SMA) curbed recent attempts of the pair to advance. The relatively flatlined SMAs are endorsing...
USDJPY’s One-Month Rally Reinforces Broader Uptrend
USDJPY is ready to confront the resistance section of 115.07-115.62 after the price bounced within the 112.40-112.72 support base and subsequently found footing off the Ichimoku cloud’s upper band. The simple moving averages (SMAs) are maintaining a northbound trajectory, backing...
USD/JPY Approaches Resistance: Elliott Wave analysis
USDJPY has completed the 5th wave as an ending diagonal (wedge) pattern and that weakness will resume towards much lower prices as a drop from 115.52 unfolded as an impulse. Ideally, that was wave A)/1), so more weakness is coming...
USDCAD Losses Ground; Long-Term Bullish Outlook Maintained
USDCAD has retreated from its December high amid strengthening negative momentum, and is currently found near its lower Bollinger Band indicating that an immediate upward movement should not be ruled out. However, despite the negativity in the short-term, the price is...