Elliott Wave Analysis: EURNZD Looking Towards A Three-wave Turn Up
EURNZD is currently unfolding a third wave of a bigger decline from the 1.7927 area. We labelled this drop as an A-B-C/1-2-3 movement, which can now be ready to face temporary support. We are talking about 1.7470 region, where a...
GBPUSD Outlook: Bears Keep Control But Need Firm Break Below Monday’s Low
Cable attacks 1.31 support after recovery attempts stalled at 1.3130 (broken Fibo 38.2% of 1.2921/1.3257 upleg), as dollar returns to bullish path for extension of hawkish Fed-inspired rally. The pound initially showed mild reaction on significantly weaker UK retail sales...
CRUDE OIL Faces Further Bear Pressure, Eyes 68.27 Area
CRUDE OIL faces bear pressure following its Wednesday price sell off. On the downside, support resides at the 68.50 level where a break will expose the 68.00 level. A cut through here will set the stage for a run at...
AUD/USD Boosted By Full Time Jobs Increase
The AUD/USD has responded positively to the latest Australian employment report, released overnight. Although the headline employment change at +5,600 missed expectations of +15,200, this was only because of a sizeable drop in part-time jobs as full-time employment actually increased...
WTI Oil Outlook: Oil Prices Fell Sharply after Stronger than Expected Crude Inventories Build
WTI oil fell over $1 and broke below psychological $70 support after EIA crude stocks report showed unexpected build of US crude inventories last week. Crude stocks rose 6.49 million barrels, compared to previous week’s build of 5.89 million barrels...
USD/JPY in Danger of Breakdown as Stocks Weaken Again
It has been a quiet-ish first half in the markets, but things could potentially turn volatile now that US investors have come back to their trading desks. At the time of writing, the pound was still lower following this morning’s...
XAUUSD Outlook: Bulls Struggle At 100SMA, FOMC Minutes Eyed For Fresh Signal
Spot Gold holds positive tone in early Wednesday, despite firmer dollar and reduced safe-haven demand, in renewed attempts through falling 100SMA ($1226). Upside attempts in past two days failed to sustain probes above 100SMA, as double daily candle with long...
GBPUSD Bias Shifts To Bearish Below 1.3155 Level
The British pound has slumped towards the 1.3100 level against the US dollar, after monthly inflation data from the United Kingdom came in weaker than expected. The GBPUSD pair is intraday bearish while trading below the 1.3155 level, sellers will...
EURUSD Unfolding a Three-Wave Recovery Towards 1.17 – Elliott Wave Analysis
EURUSD has made five waves up from August lows which we labelled as wave A of a bigger three-wave upcoming reversal. Afterwards we also labelled wave B, which ufolded a possible three-wave flat correction that looks to have found a...
Gold, Silver Extend Recovery on Dollar Weakness
Both precious metals have extended their recent gains with gold trading at $1230 and silver at $14.75 at the time of writing. Silver in particular is looking quite interesting from a bullish point of view. Although it has lagged behind...
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