GBP/USD Forecast April 6, 2017, Technical Analysis
The British pound rallied during the session on Wednesday, as the 1.24 level continues to offer support. Because of this, it looks as if this is a “buy on the dips” type of market, but I...
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EUR/USD Forecast April 6, 2017, Technical Analysis
The EUR/USD pair went back and forth during the trading session on Wednesday, as we continue to stagnate near the 1.0650 handle. I think that this market is simply consolidating in a very tight range and...
AUD/USD Forecast April 6, 2017, Technical Analysis
The Australian dollar tried to rally on Wednesday, but struggled a bit as we ended up forming a less than impressive candle. Because of this, I believe that the market is going to be very choppy going...
GBPAUD Triangle Breakout (Apr 06, 2017)
GBPAUD formed lower highs and higher lows, creating a symmetrical triangle formation on the 4-hour time frame. Price is starting to break past the triangle resistance, signaling that pound bulls are taking control of price action and...
USDCAD Daily Analysis – April 6, 2017
USDCAD is facing 1.3455 resistance, a break of this level will signal resumption of the uptrend from 1.3277, then next target would be at 1.3500 area. Support is at 1.3378, only break below this level will indicate...
USDJPY Daily Analysis – April 6, 2017
USDJPY is testing 110.11 support, a breakdown below this level will signal resumption of the downtrend from 115.50, then further decline to 108.00 area could be seen. Key resistance is at 112.19, only break above this level...
AUDUSD Daily Analysis – April 6, 2017
AUDUSD continued its downward movement from 0.7679 and the fall extended to as low as 0.7532. Further decline to test 0.7490 support is possible in a couple of days. Near term resistance is at the downward trend...
GBPUSD Daily Analysis – April 6, 2017
GBPUSD is forming a triangle pattern on 4-hour chart. Key support is at 1.2418, a breakdown below this level will confirm that the uptrend from 1.2109 had completed at 1.2615 already, then the following downward movement could...
EURUSD Daily Analysis – April 6, 2017
EURUSD moved sideways in a trading range between 1.0634 and 1.0705. As long as the pair is below 1.0705 resistance, the sideways movement could be treated as consolidation of the downtrend from 1.0905 and further decline to...
An Excerpt from Chapter 1 of The Socionomic Theory of Finance
By Robert Prechter Few people find a new theory accessible until they first see errors in the old way of thinking. Part I of this book challenges the universally accepted paradigm under which humans’ rational reactions to...