USDCAD broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 1.2920 had completed at 1.2355 already. Further rally is still possible and next target would be at 1.2555. As long...
USDJPY is facing 112.03 support once again. A breakdown below this level could take price towards 110.84. However, as long as 112.03 support holds, the price action from 113.75 could be treated as consolidation of the uptrend...
AUDUSD broke below the bottom support trend line of the price channel on its 4-hour chart, indicating that the upside movement from 0.7501 had completed at 0.7874 already. Further decline would likely be seen after a minor...
GBPUSD continued its sideways movement in a trading range between 1.3494 and 1.3612. The sideways movement is likely consolidation of the uptrend from 1.3301. A breakout of 1.3612 resistance will indicate that the upside movement has resumed,...
EURUSD extended its downside movement from 1.2089 to as low as 1.1915. Further decline would likely be seen after a minor consolidation and a breakdown below 1.1915 support could take price towards 1.1850, followed by 1.1717. Near...
By Elliott Wave International The following trading lesson has been adapted from Jeffrey Kennedy’s eBook, “Trading the Line — 5 Ways You Can Use Trendlines to Improve Your Trading Decisions.” “How to draw a trendline” is one...
USDCAD remains in the downtrend from 1.2920. As long as the price is below the falling trend line on the 4-hour chart, the bounce from 1.2355 could be treated as consolidation of the downtrend. A breakdown below...
USDJPY moved sideways in a trading range between 112.03 and 113.75. The sideways movement is likely consolidation of the uptrend from 110.84. A breakout of 113.75 resistance could trigger another rise towards 115.50. Only a breakdown below...
AUDUSD extended its upside movement from 0.7501 to as high as 0.7874. Near term support is at the bottom of the price channel on the 4-hour chart. As long as the channel support holds, the uptrend could...
GBPUSD moved sideways in a trading range between 1.3494 and 1.3512. As long as 1.3494 support holds, the sideways movement could be treated as consolidation of the uptrend from 1.3301 and another rise to test 1.3657 (Sep...
