Last month, Dow Jones Iron & Steel Index DJUSST managed to break above December 2016 peak and created an incomplete bullish sequence from 2016 low calling for a move higher toward equal legs area $374 -$411. In...
A reversal may be brewing for EURAUD as the pair has formed a triple top formation on its 4-hour time frame and could be due for a break lower. Price is testing the neckline at the 1.5650...
The US dollar rallied a bit against the Japanese yen at the open on Thursday but continues to find plenty of resistance above at the 110 handle. This is a market that will be highly sensitive to...
As you can see on the chart, I had an ellipse marked from the previous session, an area that I thought was going to cause a bit of support. It does look as if that’s happening on...
The British pound has exploded higher during trading on Thursday, as we got through the interest rate hike without a scratch. It looks as if breaking above the 1.40 level should send this market higher, a level...
The EUR/USD pair has been explosive as the Americans got back to work on Thursday, showing signs of trying to break out above the 1.23 handle, which would be a major victory for the bullish traders. We...
The Australian dollar has fallen a bit during the day on Thursday but seems to be finding a lot of support at the 0.78 handle. This is the 50% Fibonacci retracement from the massive move higher, and...
EURGBP continues to trade lower as it bounced off the descending channel resistance on its 4-hour time frame. Price could keep dropping until the channel support around .8650, which might provide a countertrend opportunity. Stochastic is already...
DXY Short Term Elliott Wave view suggests that the decline to 88.44 ended Intermediate wave (3). Up from there, correction in Intermediate wave (4) is in progress as a triple three Elliott Wave structure. Rally to 89.64 ended Minor...
The US dollar has been very noisy against the Japanese yen during the trading session on Tuesday, so it’s likely that the market should continue to be so. I believe that the risk appetite out there is...
