GBP/USD Falls Through Trendline
The US dollar’s rally across the board puts the sterling on the defense. The pair has been climbing along a rising trendline. Then it met stiff selling pressure in the daily supply zone near 1.3900. An initial fall below 1.3800...
Retail Sales Strong Beat; US Dollar Bid Continues
US Retail Sales for August was much stronger than expected, even with the lower revisions from July’s print. The headline print was +0.7% vs an expectation of -0.8%. However, the July number was revised lower from -1.1% to -1.8%, which...
EUR/CAD Price Action Is Suggesting The Range Bound Movement
The EUR/CAD could make a move from point A to point B. 1.5020 is the rejection level. The market looks bearish but watch for a possible bounce at the point B. Point B is M L3 and trend line confluence....
USD/CAD Capped By Key Resistance
The Canadian dollar recovered after a rise in the August CPI. The previous attempt to break below 1.2500 has put the bulls under pressure. The rebound met offers at 1.2760 when the RSI was in an overbought situation. A bullish breakout would...
Big move in Natural Gas; Highly Correlated to USD/RUB!
Natural gas (NG) has been on a tear lately. On December 28th, 2020, NG put in a low of 2.238. Since then, price is up nearly 150%, including a rise of nearly 50% alone in the past month. Uncertainties about...
GBP/USD Pair Started A Fresh Decline From The 1.3912 High
The British Pound spiked above the 1.3900 zone against the US Dollar. However, the GBP/USD pair struggled to extend gains and started a fresh decline from the 1.3912 high. It traded below the 1.3900 and 1.3880 support levels. There was...
Elliott Wave View: S&P 500 Futures In Larger Degree Correction
Short-term Elliott wave view in S&P 500 Futures (ES_F) suggests cycle from September 24, 2020 low has ended with wave ((3)) at 4549.74. The Index has turned lower in larger degree 7 swing in wave ((4)) to correct cycle from...
AUD/USD Elliott Wave analysis: Support Near 0.7290 Area
Aussie, AUDUSD has turned higher at the end of August, with a sharp and strong retracement back above former wave four, so it appears that we have a bottom in place. However, nothing moves in straight line so current retracement...
GBP/AUD Sets For Breakout
The British Pound has edged higher by 1.53% against the Australian Dollar since September 5. The currency pair breached the 50– period simple moving average on September 9. The exchange rate is currently trading near the upper boundary of a...
Elliott Wave View: EURJPY Rally Expected To Fail
Short-term Elliott wave view in EURJPY suggests rally to 130.75 ended wave (B). Pair has turned lower in wave (C) but it still needs to break the previous wave (A) low at 127.9 on August 19 to rule out a...