Powerful Reversal Pattern on USD/JPY Points Towards 108.4 Area – Elliott Wave Analysis
USDJPY is showing us a three-wave corrective decline called a flat correction, because of only three legs within the first wave »a« and the second wave »b«. We see this correction as completed, especially after that sharp bounce out of...
Market Morning Briefing: Pound Is Trading Just Below 1.28
STOCKS Most Equity indices have rallied well over this week and are testing near term Resistances. We could see a near term dip because of that, but the longer term could be bullish. The Dow (23879, +91.67, +0.39%) saw a...
NZD/USD: Resumes Recovery Strength, Bullish
NZDUSD resumes recovery strength as it eyes a move further higher towards the 0.6800 resistance zone. Above here will target the 0.6850 level where a break will turn attention to the 0.6900 level. A break of here will have to...
EUR/USD Eyes Upside Break While USD/CHF Struggle
EUR/USD jumped above the 1.1450 resistance and recovered losses. USD/CHF is under pressure and it remains at a risk of a downside break below 0.9800. Important Takeaways for EUR/USD and USD/CHF The Euro bounced back and broke the 1.1360 and...
USDTRY – Fragile Geopolitical Situation and Weakening Techs Could Spark Further Fall of Turkish Lira
The USDTRY has stabilized and moves higher after last week’s strong rally to 5.8767 and subsequent quick pullback last week. Fresh upside attempts extend into second day and penetrate daily cloud, on track for close within the cloud after the...
GBP/USD Gaining Strength Above 1.2720
Key Highlights The British Pound broke the key 1.2680 and 1.2720 resistances against the US Dollar. There was a break above a short term bearish trend line at 1.2740 on the 4-hours chart of GBP/USD. The US ISM Non-Manufacturing Index...
EURUSD – Bulls Eye Daily Cloud Top after 1.1444 Fibo Barrier Taken Out
The Euro remains bid in early American session on Monday and establishes above broken 1.1444 pivotal Fibo barrier. The pair advanced 0.6% since Monday’s opening and pressures initial target at 1.1478 (100SMA) with pivots at 1.1496/1.1515 (2019 high, posted on...
EUR/USD Primed To Retest 1.1500 Resistance
Key Highlights The Euro found support near the 1.1300 level and recovered against the US Dollar. There is a major bullish trend line formed with support at 1.1385 on the 4-hours chart of EUR/USD. The US Nonfarm Payrolls in Dec...
NZD/USD Possible Breakout
Bullish sentiment dominated the NZD/USD currency pair on Thursday. The pair bounced off the lower boundary of a descending channel pattern at 0.6600 and had since gained about 110 base points. The exchange rate is trading near the upper boundary...
USD/CAD Likely To Consolidate After Decline
Downside risks have been dominating the USD/CAD exchange rate since Thursday’s trading session. As a result, the US Dollar has depreciated about 210 base points against the Canadian Dollar. The currency pair is gradually moving towards the lower boundary of...
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