Elliott Wave View: Five Swing Sequence In NZD/USD Favors Downside
NZDUSD broke below August 20, 2021 low (0.6805) and now shows a 5 swing sequence from February 25, 2021 high favoring more downside. A 5 swing sequence is an incomplete sequence and needs another leg lower to end 7 swing....
Brent Under Severe Stress
The Brent price reached stability on Monday after experiencing severe stress last Friday; the asset is trading at $75.30. Still, there is too much volatility and emotions in the instrument. The reason for that is the new coronavirus strain found...
GBP/CAD Bulls Should Move The Price Bullish SHS Pattern On Daily
GBP/CAD technical analysis Bullish SHS on Daily TF. Breakout is expected. Positional entry has been established. M H5/ Q H3 are targets. Left shoulder. Head. Right shoulder. Entry. Target. GBP/CAD is turning bullish and we can see that marubozu candlestick...
EUR/USD Starts Recovery, But Faces Key Hurdle
Key Highlights EUR/USD found support near 1.1186 and started a decent recovery. It broke a major bearish trend line at 1.1200 on the 4-hours chart. GBP/USD is facing an increase in selling below 1.3400. Crude oil price declined over $10.00...
Oil Is On Track For The Biggest Daily Drop This Year As Fears On New Virus Variant Further Dent Demand Outlook
WTI oil fell over 6% since opening on Friday, in the steepest daily drop this year. News that new variant of coronavirus, which could be more contagious and possibly resistant to the current vaccines was detected, raised fears that new...
US 30 Fails To Rebound
The Dow Jones 30 fell sharply amid fears of a new Covid variant. On the daily chart, a fall below the 30-day moving average suggests increasing pressure on the downside. The index has struggled to stay above the support at...
XAGUSD Tests Major Support
Silver remains under pressure as the dollar index nears a 16-month high. Price action is hovering above the key floor at 23.00 which is also a daily support after November’s breakout above 24.80. This is a test of buyers’ commitment...
USDJPY Breaks Support
The Japanese yen recouped some losses after November’s Tokyo CPI rose to 0.5%. A bearish RSI divergence signaled a slowdown in the upward momentum. A break below 114.90 confirmed weakness in the rally and prompted buyers to close their bets....
Elliott Wave Forecast: Silver Miners (SIL) Doing Flat Correction
Silver Miners (SIL) reached the support area from August 6 peak in 7 swings and reacted higher. However, in the last few trading sessions, the ETF has taken a turn lower. What’s the outlook for the ETF and what alternative...
USD/JPY Outlook: Yen Rises Sharply As New Virus Variant Sparks Strong Risk Aversion
The USDJPY collapsed in early Friday trading after news about new virus variant sparked sharp migration into safety. The pair was down 1.2% in Asia and early Europe, making so far the biggest drop this year. Fresh bearish acceleration weakened...