EURUSD broke below 1.1200 support, indicating that lengthier consolidation for the uptrend from 1.0569 (Apr 10 low) is needed. Deeper decline could be expected in a couple of days, and the target would be at around 1.1130....
Short Term AUDUSD Elliott Wave view suggests the rally from 5/9 low is unfolding as a double three Elliott Wave structure. Up from 5/9 (0.7325) low, Minute wave ((w)) ended at 0.7517 and Minute wave ((x)) ended at 0.7368. Pair has...
GBPUSD moved sideways in a trading range between 1.2756 and 1.3047. As long as the pair is above 1.2756 support, the sideways movement could be treated as consolidation of the uptrend from the March 14 low of...
The US dollar has chomped around during the session on Wednesday, against the Japanese yen. Because of this, looks as if the market is trying to find some type of stability just above the 109 level, and...
The USD/CAD pair initially went sideways during the session on Wednesday, and even managed to drop down to the 1.3425 handle at one point. Having said that, the market then broke out to the upside after the...
The British pound had an interesting session on Wednesday as we initially went sideways at the 1.29 handle, and then shot higher. I believe that the market is trying to “front run” the election results during the...
The EUR/USD pair had a very volatile session on Wednesday, as we are trying to front run the European Union quantitative easing situation. After all, the ECB has an interest rate decision today, and that will have...
The Australian dollar exploded to the upside on Wednesday, using the 0.75 level as support. Ultimately, this was in reaction to the stronger than anticipated Australian GDP numbers, as evident by the impulsive candle initially during the...
EURCAD recently sold off to the bottom of its wedge formation on the 4-hour time frame then bounced right back to the top. Another test of the resistance could be underway, but a breakout might be looming...
USDCAD failed to break below 1.3387 support and stays in the trading range between 1.3387 and 1.3540. The pair is now facing 1.3540 resistance, a clear break of this level will indicate that the downtrend from 1.3793...
