AUDUSD Daily Analysis – May 3, 2017
AUDUSD is in short term uptrend from 0.7439. Further rise could be expected after a minor consolidation and the target would be at the top of the price channel on 4-hour chart. Support is at 0.7510, only...
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GBPUSD Daily Analysis – May 3, 2017
GBPUSD remains in short term uptrend from 1.2756. Support is now at 1.2864, as long as this level holds, the uptrend could be expected to continue and next target would be at 1.3100 area. On the downside,...
EURUSD Daily Analysis – May 3, 2017
EURUSD is facing 1.0950 resistance again. A break of this level will indicate that the upward movement from 1.0569 has resumed, then next target would be at 1.1000 area. Support levels are at 1.0870 and 1.0820, only...
Gold short term weakness likely
Gold to Silver Ratio Daily Elliott Wave Chart Daily chart of Gold-to-Silver ratio above suggests that the ratio is correcting cycle from 2/29/2016 peak (83.68) before the decline resumes later, provided that pivot at 83.68 high stays...
NZDUSD Elliott Wave View: More downsideElliottWave , Elliott Wave Theory , NZDUSD, Forex
Short term Elliott Wave view in NZDUSD suggests the decline to 0.6844 low ended cycle from 3/21 high in Minor wave W. Pair is currently correcting cycle from 3/21 high in 3, 7, or 11 swing in Minor wave X before...
NZD USD Incomplete Elliott Wave Sequence
NZD USD is showing 5 swings down from 2/6/2017 (0.7375) which means it’s an incomplete Elliott wave sequence and calls for another swing lower to complete 7 swings down from 2/6/2017 (0.7375) peak. First 3 swings completed on 3/9/2017...
GBPAUD Double Bottom Breakout (May 02, 2017)
GBPAUD recently broke to the upside from a symmetrical triangle formation and is now breaking past a double bottom neckline around 1.7100. This would mean strong bullish signals for the pair, as the chart patterns are approximately...
USD/JPY Forecast May 2, 2017, Technical Analysis
The USD/JPY pair has been somewhat sideways during the day on Monday, as we continue to try to build up enough momentum to drive higher and finally break above the psychologically important 112 level. The 112 level...
USD/CAD Forecast May 2, 2017, Technical Analysis
The US dollar continues to chop sideways against the Canadian dollar during the Monday session, but I think that the upward momentum is still there. After all, the crude oil markets look very soft and that will...
GBP/USD Forecast May 2, 2017, Technical Analysis
The British pound continues to march higher during the Monday session, and as you can see I have a trendline on the hourly chart showing that we have seen buying pressure again and again. I believe that...