Platinum (PL) Correction in Progress

by elliottwave-forecast.com | May 29, 2023 8:53 pm
Platinum (PL) shows a higher high (bullish sequence) from 9.1.2022 low favoring further upside. Since forming the intermediate top at 1148.9 on April 21, the metal has corrected cycle from 2.27.2023 low at 903.9. The correction can...

USDCAD Daily Analysis – May 29, 2023

by ForexCycle.com | May 29, 2023 11:02 am
The USDCAD currency pair has encountered resistance around the 1.3667 level and experienced a pullback from its recent high at 1.3654. This price action suggests a period of consolidation for the ongoing uptrend that originated from 1.3314....

USDJPY Daily Analysis – May 29, 2023

by ForexCycle.com | May 29, 2023 10:57 am
The USDJPY currency pair has demonstrated resilience, remaining within a well-defined rising price channel on the 4-hour chart, thus sustaining the broader uptrend that originated from 133.49. Currently, the pair is experiencing a pullback from its recent...

AUDUSD Daily Analysis – May 29, 2023

by ForexCycle.com | May 29, 2023 10:54 am
The AUDUSD currency pair has remained entrenched in a persistent downtrend, originating from its peak at 0.6817. The recent bounce from 0.6490 is likely a period of consolidation within this broader downtrend. At present, AUDUSD faces a...

GBPUSD Daily Analysis – May 29, 2023

by ForexCycle.com | May 29, 2023 10:47 am
The GBPUSD currency pair has been mired in a persistent downtrend, marked by its position below a descending trend line on the 4-hour chart. The pair continues to grapple with bearish pressures that originated from the high...

EURUSD Daily Analysis – May 29, 2023

by ForexCycle.com | May 29, 2023 10:43 am
The EURUSD currency pair has been struggling to break free from the grip of a persistent downtrend, as indicated by its position below a descending trend line on the 4-hour chart. The pair remains locked in a...

How to Choose the Right Forex Broker: A Guide for Forex Traders

by ForexCycle.com | May 28, 2023 5:57 am
Introduction Unleashing the potential of forex trading starts with choosing the right broker. As a forex trader, your broker plays a crucial role in your trading journey, impacting everything from execution speed and trading costs to security...

USDCAD Weekly Analysis – May 27, 2023

by ForexCycle.com | May 27, 2023 4:58 am
The USDCAD currency pair has displayed a resilient uptrend, remaining within a rising price channel on the weekly chart. This upward movement has been in play since the pair found support at 1.2006, indicating the dominance of...

USDJPY Weekly Analysis – May 27, 2023

by ForexCycle.com | May 27, 2023 4:53 am
The USDJPY currency pair has displayed a strong bullish momentum, extending its upside movement from 127.21 to reach as high as 140.72. This upward surge indicates that the bulls remain in control and suggests the potential for...