CHFJPY Bearish Risks Alive in Short and Medium Term
CHFJPY lost significant ground after the spectacular rally towards the pair’s highest since February of 118.05, falling as low as 111.54. Even though it attempted to recoup losses early this month, the pair somewhat reentered bearish mode this week, with...
Elliott Wave Analysis: S&P500 and Nasdaq100 Update
S&P500 like Nasdaq found a new low, with an ending diagonal within wave v. We can now see price trading at possible Fibonacci support around 200.0 and 261.8, from where a new bounce and a temporary reversal in three-waves may...
GBP/USD Behaves Erratic Thanks To The Brexit Process
The GBP/USD breakout is not likely to succeed as larger support and resistance levels are nearby. A bearish break will face Fibonacci retracement levels, whereas a bullish break will run into resistance. The GBP/USD seems to be building multiple ABC...
GBPUSD Awaiting Key UK Retail Sales Data
The British pound is trading around the psychological 1.3000 level against the US dollar, ahead of the release of key Retail Sales data from the United Kingdom economy this morning. The GBPUSD pair remains volatile amidst ongoing Brexit news, with...
AUDJPY Positive Momentum Weakens; Medium Term Outlook Looks Mostly Bullish
AUDJPY’s remarkable recovery after hitting a two-year nadir of 78.55 in late October lost some steam when the pair touched a near three-and-a-half-month high of 83.04 last week. The Tenkan- and Kijun-sen lines remain positively aligned in support of a...
EURJPY Maintains Weak Bias in Near-Term; Broader Trend is Neutral
EURJPY has been trading within the 23.6% Fibonacci retracement level and the 38.2% Fibonacci mark of the downleg from 133.10 to 126.60, between 128.15 and 129.10 over the last 4-hour sessions. The MACD oscillator is moving higher in the negative...
EUR/USD Starts Rebound. USD/JPY Remains In Uptrend
EUR/USD found support near 1.1215 and started a short term correction. USD/JPY remains in an uptrend above the 113.70 support and resistance awaits near 114.10. Important Takeaways for EUR/USD and USD/JPY The Euro declined heavily below 1.1300 until buyers appeared...
Elliott Wave View: Nifty Looking To Resume Rally
Short term Elliott Wave view on Nifty suggests that the decline to 10004 on Oct 26 low ended Primary wave ((2)). This means that Index has ended the selloff which started from Aug 28 high (11760.20). It is currently either...
GBPUSD Outlook: Renewed Brexit Optimism and Upbeat Earnings Data Helped Pound’s 1% Recovery
Cable holds in strong bullish mode in early US trading on Tuesday, following nearly 1% advance in Asia and Europe. Fresh bullish sentiment emerged from optimistic comments about Brexit and boosted by upbeat UK earnings data (Sep ex-bonus 3.2% vs...
EURAUD Flattens after Touching 3-Month Low
EURAUD slipped to a fresh 3-month low earlier today of 1.5574. The price has lost its positive momentum in the longer-term picture as it penetrated the rising trend line to the downside during the previous week. In the short-term, the...
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