Elliott Wave Analysis: EUR/USD Looks To Move Higher
Markets are slow ahead of Powell’s speech. USD Index is trading lower. EURUSD – Sooner or later bulls may become stronger. Markets are slow ahead of Jackson Hole Symposium, waiting on Chair Jerome Powell’s speech when he may give us...
AUDUSD Advances Towards Familiar Resistance
AUDUSD has been on the rise since the confirmation of a bullish morning star candlestick pattern, which foresaw the start of a new bullish round last Friday, but another challenge is currently displaying on the radar. Particularly, the price needs...
Volatile Durable Goods Orders Decline in July: DXY
Orders for large ticket items, such as aircraft and autos, fell by -0.1% MoM in July vs expectations of -0.3% and a reading of +0.8% in June. One of the reasons Durable Goods Orders is so volatile is because of...
AUD/USD: Bulls are Pausing and Awaiting Fresh Signals from Jackson Hole Event
The AUDUSD is holding within narrow consolidation on Wednesday, after Mon-Tue bounce retraced over a half of last week’s sharp bearish acceleration which hit a multi-month low at 0.7106. Fresh bulls faced strong headwinds from falling 10DMA (0.7252) while rising...
Elliott Wave View: SPX Shows Incomplete Bullish Sequence
Short-term Elliott wave view in S&P 500 (SPX) suggests cycle from July 20, 2021 low remains incomplete favoring more upside. Rally from there is unfolding as a 5 waves impulse Elliott Wave structure. Up from July 20 low, wave 1...
Mexico’s Data Off to a Bad Start after Latest Banxico Meeting: USD/MXN
Mexico released its mid-month inflation rate for August at 5.57% YoY vs 5.74% expected and 5.75% last. Recall that Mexico’s central bank, Banxico, hiked rates on August 12th from 4.25% to 4.5%. Expectations for inflation remain relatively high in the...
WTI Futures Rises Above Short-Term SMAs
WTI crude oil futures have been in a strong positive movement over the last 4-hour sessions, following the turning point at the 61.75 support level. The price jumped above the short-term SMAs and is moving towards the Ichimoku cloud. The RSI...
Market Morning Briefing: Dollar-Yen Continues To Hold Within 110.50-109 Zone
STOCKS Equities globally trade higher and look bullish for the near term. Dow and Dax may target 35500/750 and 16000 respectively while Nikkei, Shanghai, Nifty and Sensex look bullish too towards 28000, 3520/40, 16600/700 and 56000 respectively. Immediate view is...
Gold – Back in Favour?
Facing major resistance Gold has come a long way over the last couple of weeks when it suffered a flash crash at the start of the week. Since then, not only has it rebounded strongly, it’s crossed back above the support level that...
Gold In Confusion Within Tight Range
Gold is in a tight range with the 1,780 – 1,770 zone as the quick bounce from the five-month low of 1,680 was not enough to pierce a former support region and the 20- and 50-day simple moving averages (SMAs)....