GBPUSD remains in downtrend from 1.6182, the rise from 1.5592 is likely consolidation of the downtrend. Key resistance is located at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the...
EURUSD’s upward movement extended to as high as 1.2577. Further rise is still possible, and next target would be at 1.2600 – 1.2650 area. Support is located at the upward trend line on 4-hour chart, only a...
GBPUSD looks prime for a pullback as price found support around the 1.5600 major psychological level. The pair appears to be retreating to the descending trend line visible on its 4-hour forex chart. Stochastic has already...
USDCAD’s downward movement from 1.1466 extended to as low as 1.1264. Further decline is still possible, and next target would be at 1.1200 area. Resistance is located at the downward trend line on 4-hour chart, only a...
USDCHF broke below 0.9580 support, indicating that the uptrend from 0.9370 had completed at 0.9739 already. Deeper decline would likely be seen, and next target would be at 0.9500 area. Resistance levels are at 0.9690 and 0.9739,...
USDJPY’s upward movement from 105.32 extended to as high as 117.05. Near term support is at the bottom of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected...
AUDUSD continued its upward movement from 0.8540, and the rise extended to as high as 0.8784. Support is located at the rising trend line on 4-hour chart, only a clear break below the trend line support will...
GBPUSD’s downward movement from 1.6182 extended to as low as 1.5592. The downtrend could be expected to continue after a minor consolidation, and next target would be at 1.5500 area. Near term resistance is at 1.5755, and...
EURUSD broke above 1.2508 resistance, indicating that the downtrend from 1.2867 had completed at 1.2358 already. Further rally would likely be seen, and next target would be at 1.2600 – 1.2650 area. Support is at 1.2358, only...
By Elliott Wave International The following article was adapted with permission from the November 2014 issue of The Elliott Wave Financial Forecast, a publication from Elliott Wave International, the world’s largest market forecasting firm. Follow this link...
