SPY Elliott Wave View: Should Extend Into New Highs
Short-term Elliott Wave view in SPY suggests that the cycle from October 01, 2021 low is showing a higher high sequence favoring new highs to follow. The internals of that rally is unfolding as an Elliott Wave impulse sequence where...
Elliott Wave Analysis: EUR/USD Could Move Further Low after a Pullback
Markets are consolidating as the USD Index saw some limited upside, even vs JPY as yields turned slightly lower in recent sessions, but this may again change later today during FOMC speeches. From an EW perspective, we see USD Index...
US Oil Falls Through Key Support
WTI crude tumbled after OPEC warned of supply surplus. The rally has stalled after the bulls struggled to lift offers at 85.00. On the daily timeframe, the RSI’s double top in the overbought area indicates an overextension. A break below...
EURJPY Descending Move Continues As Bearish Forces Linger
EURJPY continues its descending move after the October high, powered by lingering negative forces. Moreover, its 50-period simple moving average (SMA) has crossed below the 200-period SMA completing a ‘death cross’ and increasing fears of a sustained bearish outlook.The short-term...
“As Expected” Canadian CPI Data Disappoints USD/CAD Traders
As traders already know, inflation has been running hot these last few months! Recent inflation data from the US and the UK both beat already high expectations. The Canadian October CPI headline print was hot as well, at 4.7% YoY...
GBPCAD Takes A Breather, But Downtrend Still In Play
GBPCAD has rebounded in recent sessions, finding fresh buy orders after hitting 1.6710, a low last reached in March 2020. Despite this bounce, the structure of lower lows and lower highs remains intact. The pair is also trading below both...
EURUSD Elliott Wave View: Further Weakness Expected
Short Term Elliott Wave view on EURUSD suggests the decline from October 28 peak is unfolding as a 5 waves impulse Elliott Wave structure. Down from October 28, wave (i) ended at 1.1533 and rally in wave (ii) ended at...
WTI Futures Advances Curbed by Ichimoku Cloud and 50-MA
WTI oil futures are dipping back beneath the 200-period simple moving average (SMA) at 81.05 after the bounce off the 79.29 level failed to extend above the Ichimoku cloud. The converging SMAs are supporting a more horizontal trajectory in the...
GBPCHF Rallies After Crossing Above 50-SMA
GBPCHF has been surging in the short term as its positive momentum strengthened after the price surpassed the 50-day simple moving average (SMA). However, this recent rally has not been sufficient to reverse its medium-term downtrend. The pair is likely...
Market Morning Briefing: Euro Has Fallen Sharply Breaking Below 1.14
STOCKS Dow can dip to 35000 while below 36250 while Dax could be headed towards 16400 while above 16100.Nikkei and Shanghai can rise towards 30000/31000 and 3600 respectively if they continue to rise from current levels. Nifty and Sensex need...