Short Term Elliott Wave view in Gold suggests the decline to $1306.8 ended Intermediate wave (X). However, the yellow metal needs to break above Intermediate wave (W) at $1366.06 to rule out the possibility of a double correction...
AUDUSD broke above 0.7880 resistance, indicating that the downside movement from 0.7988 had completed at 0.7790 already. Further rally would likely be seen and next target would be at 0.7950 area. Support is at 0.7790, only a...
The US dollar has gapped higher initially during Monday trading, but then turned around to break down significantly. By breaking down below the bottom of the gap, it forms a very negative outlook for the pair. We...
The US dollar pulled back slightly during the trading session on Monday but found enough support near the 1.26 level to turn around and rally. Remember, the Canadian dollar is highly sensitive to the oil markets, so...
The British pound has rallied significantly at the beginning of the Monday session, but ran into a significant trouble at the 1.4075 level. We pulled back from there, and it now looks as if the 1.40 level...
The EUR/USD pair has initially tried to rally during the day on Monday but rolled over at the 1.2350 region to reach towards the 1.23 handle. I think that the market is trying to build up enough...
The Australian dollar has fallen a bit during the beginning of the week, as Monday was a bit pro-US dollar. I think that the Australian dollar will continue to be noisy, but it also looks as if...
EURJPY is trending lower inside a descending channel pattern and is about to test the resistance. This lines up with the 200 SMA dynamic inflection point, which adds to its strength as resistance. The 100 SMA is...
USDCAD recently broke out of an inverse head and shoulders pattern on its 4-hour time frame and looks ready for an uptrend. Price could still pull back to a new rising trend line forming before gaining bullish...
We revise our Gold Short Term Elliott Wave view to a more aggressive one and call the decline to 2.8.2018 at $1306.8 ending Intermediate wave (X). For this view to get validity however, the yellow metal needs to...
