GBPUSD broke below 1.6692 support, indicating that the uptrend from 1.4813 (Jul 9, 2013 low) had completed at 1.7190 already. Further decline could be expected, and next target would be at 1.6300 area. Near term resistance is...
EURUSD remains in downtrend from 1.3993. Further decline would likely be seen, and next target would be at 1.3000 area. Initial resistance is at 1.3450, only break above this level will indicate that consolidation of the downtrend...
By Robert Prechter (excerpted from the monthly Elliott Wave Theorist; published since 1979) Every time there is a recession, observers grumble about economists’ methods. The deeper the recession carries, the louder the grumbling. The reason that widespread...
The USD/JPY pair went back and forth during the course of the session on Friday, as markets got very concerned about shooting in eastern Ukraine. With that, there was a bit of a “risk off” feel to...
The USD/CAD pair fell initially during the session on Friday, but found enough support at the 1.0850 level to turn things back around and form a hammer. This hammer of course is supportive looking, and if we...
The GBP/USD pair rose slightly during the session on Friday, proving that the hammer does in fact have some significance that we printed on Thursday. However, we think this is a short-term buying opportunity, and probably not...
The EUR/USD pair rose during the course of the day on Friday, but as you can see we stopped just below the 1.34 level again. However, the weekly candle for the third week in a row is...
The AUD/USD pair fell initially during the session on Friday, but as you can see found a little bit of support at the 0.93 handle, thereby forming a hammer. We believe that the market is trying to...
The Chinese government, currently trying to manage an economic slowdown in the country, is not following the ill-advised short-term approach to fiscal easing amidst what some refer to as a mild economic crisis with ripple effect throughout...
USD The US dollar had a mixed performance as it advanced to the euro but gave up some of its gains against the comdolls then consolidated to the pound. Data from the US simply came in line...
