AUDJPY Pullback Setup (July 04, 2016)
AUDJPY recently broke below a long-term support area in its sharp dive to a low of 72.40 before pulling back up. Applying the Fib tool on the latest swing high and low shows that this former support...
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Reviewing the Basics of the Elliott Wave Principle: The Triangle
By Elliott Wave International The Wave Principle classifies price action as either motive or corrective. Corrective waves move opposite the direction of the primary trend and include the zigzag, flat, triangle and combinations of these patterns. They...
USDCAD Weekly Analysis – July 3, 2016
USDCAD continued its sideways movement in a range between 1.2460 and 1.3188. Resistance is at 1.3188, a break of this level will indicate that the uptrend from 1.2460 has resumed, then next target would be at 1.3600...
USDJPY Weekly Analysis – July 3, 2016
USDJPY stays below the downward trend line on daily chart, and remains in downtrend from 123.75. As long as the trend line resistance holds, the rise from 98.97 could be treated as consolidation of the downtrend. Further...
AUDUSD Weekly Analysis – July 3, 2016
AUDUSD remains in downtrend from 0.7834, the rise from 0.7144 is likely correction of the downtrend. Another fall could be expected after correction and next target would be at 0.6900. Support level is at 0.7250, a breakdown...
GBPUSD Weekly Analysis – July 3, 2016
GBPUSD is now in downtrend from 1.5016. Further decline could be expected after a minor consolidation, and next target would be at 1.2000 area. Resistance is at 1.3800, as long as this level holds, the downtrend will...
EURUSD Weekly Analysis – July 3, 2016
EURUSD is now in downtrend from 1.1616, the bounce from 1.0911 could be treated as consolidation of the downtrend. Further decline could be expected after consolidation, and next target would be at 1.0600 area. Resistance is at...
USD/JPY Forecast July 1, 2016, Technical Analysis
The USD/JPY pair initially fell during the day on Thursday, but turned back around to form a bit of a hammer. If we break above the top of the hammer, the market more than likely will try...
USD/CAD Forecast July 1, 2016, Technical Analysis
The USD/CAD pair broke higher during the course of the session on Thursday, slicing through the 1.30 level. However, we have been consolidating in general, and as a result I think it can be difficult to trade...
GBP/USD Forecast July 1, 2016, Technical Analysis
The GBP/USD pair fell during the course of the session on Thursday, as we continue to go back and forth and try to build up enough downward pressure to continue to go lower. At this point in...