EURUSD Daily Analysis – May 20, 2020

by ForexCycle.com | May 20, 2020 2:40 am
EURUSD extended its upside movement from 1.0774 to as high as 1.0976. Further rise is still possible and next target would be at 1.1018 resistance. Near term support is at 1.0900, a breakdown below this level could...

Shopify (NYSE:SHOP) – Bulls Looking To Remain In Control

by elliottwave-forecast.com | May 19, 2020 3:17 pm
Shopify (NYSE: SHOP) is one of the best performing technology stocks since its IPO back in 2015. As electronic commerce boomed in recent years, SHOP saw an enormous gain in value up to 2900% punting the stock as one...

Elliott Wave View: SPY Has Resumed Wave 3 Higher

by elliottwave-forecast.com | May 19, 2020 3:16 pm
Short Term Elliott Wave view in SPY (S&P 500 ETF) suggests the rally from 3.23.2020 ended at 296.77 as wave ((1)). Pullback in wave ((2)) is proposed complete at 273.07 as the 30 minute chart below shows....

USDCAD Daily Analysis – May 19, 2020

by ForexCycle.com | May 19, 2020 1:59 am
USDCAD failed to break above the resistance of the falling trend line on the 4-hour chart and pulled back from 1.4140. Deeper decline is still possible and next target would be at 1.3849 support. Near term resistance...

USDJPY Daily Analysis – May 19, 2020

by ForexCycle.com | May 19, 2020 1:57 am
USDJPY broke above 107.43 resistance, suggesting that the uptrend from 105.98 has resumed. Further rally would likely be seen and next target would be at 108.08 resistance. Support is at 106.74, only break below this level could...

AUDUSD Daily Analysis – May 19, 2020

by ForexCycle.com | May 19, 2020 1:56 am
AUDUSD continued its sideways movement in a trading range between 0.6372 and 0.6569. The price action in the range is likely consolidation for the uptrend from 0.5507 (Mar 19 low), a breakout of 0.6569 resistance could take...

GBPUSD Daily Analysis – May 19, 2020

by ForexCycle.com | May 19, 2020 1:55 am
GBPUSD stays below a falling trend line on the 4-hour chart and remains in the downtrend from 1.2642. As long as the trend line resistance holds, the bounce from 1.2073 could be treated as consolidation for the...

EURUSD Daily Analysis – May 19, 2020

by ForexCycle.com | May 19, 2020 1:55 am
EURUSD broke above 1.0896 resistance. Further rally would likely be seen and next target would be at 1.1000 area. Near term support is at 1.0875, a breakdown below this level could bring the price back towards 1.0766...

$SAP : Software Corporation SAP Can Continue Higher

by elliottwave-forecast.com | May 18, 2020 3:26 pm
SAP SE  is a multinational corporation which is well known as a producer of the enterprise software being used in managing business operations and customer relations. Founded in 1972 and headquartered in Walldorf, Germany, the company’s most...

EURGBP : Market Patterns Calling the Move Higher

by elliottwave-forecast.com | May 18, 2020 3:25 pm
EURGBP Technical Analysis On May 5/2020 I posted on social media (Stocktwits/Twitter) @AidanFX  “$EURGBP will be watching for possible buying opportunities.” EURGBP 1 Hour Chart May 8.2020 : The charts below was also posted on social media (StockTwits/Twitter) @AidanFX...