By Elliott Wave International The question: Why use the Wave Principle when trading or investing? The answer: To avoid the herd that usually loses money in the markets. The explanation: Herding makes it difficult to follow the...
USDCAD is facing 1.3456 resistance, a break of this level will signal resumption of the uptrend from 1.1919, then the following upward movement could bring price to 1.4000 area. Near term support is at 1.3200, only break...
USDJPY remains in short term uptrend from 118.16, the fall from 123.75 is likely consolidation of the uptrend. Further rise to test 125.85 resistance is still possible, a break of this level will signal resumption of the...
AUDUSD continued its sideways movement in a trading range between 0.6907 and 0.7439. As long as 0.7439 resistance holds, the sideways movement could be treated as consolidation of the downtrend from 0.9504 (Jul 1, 2014 high), another...
GBPUSD stays below the downward trend line on daily chart, and remains in downtrend from 1.5929. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at...
EURUSD’s downward movement from 1.1713 extended to as low as 1.0566. Further decline to test 1.0462 (Mar 13 low) support is possible, a breakdown below this level will signal resumption of the long term downtrend from 1.3993...
The USD/JPY pair initially fell during the day on Friday, but then turned around to form a bit of a hammer. The 122 level below is massively supportive in our opinion, as we continue to consolidate between...
The USD/CAD pair broke higher during the course of the day on Friday, clearing the top of the candle from both Wednesday and Thursday. Because of this, we feel that the market will eventually break out to...
The GBP/USD pair broke down below the bottom of three separate hammers during the session on Friday, testing the 1.50 level. If we can get below the bottom of the range at the 1.50 level, we feel...
The EUR/USD pair went back and forth during the course of the session on Friday, essentially showing a lack of momentum. The 1.06 level in this area of course is attracting price, but it’s only a matter...
