Hi fellow traders. The $SPX Bounce from the 8/21 lows is impulsive as the title suggests and does display the usual characteristic traits of an Elliott Wave impulse. Looking back previously before this 8/21 date, the stock index is within an...
CADJPY Elliott Wave view suggests that the decline to 87.78 ended Minor wave X. Pair starts a new rally from there as a double three Elliott Wave structure where Minute wave ((w)) ended at 89.8. Minute wave ((x)) pullback is currently...
The US dollar initially fell during the trading session on Monday, reaching down towards the 113.25 level. We bounce from there, and are starting to show signs of strength again. I think that the 113 level is...
The US dollar rallied a bit against the Canadian dollar during the Monday session, breaking above the 1.27 level. As we are doing this, I believe that the market is trying to continue the recent uptrend that...
The British pound gapped lower at the open on Monday, and then fell towards the 1.3050 level. This is the bottom of consolidation, and therefore the bounce that we have seen so far is not a huge...
The Euro gapped lower at the open on Monday, but then found support as we drove down to the 1.165 handle. That is an area that has been important a couple of times in the recent past,...
The Australian dollar gap lower at the open on Monday, turned around to fill the gap, and then rolled over to test the 0.7625 level. The market underneath continues to be supported very stringently at the 0.76...
AUDUSD was previously trading sideways between support around .7650 and resistance at .7700-.7725. Price has just broken below the range support and looks ready for a pullback before heading further south. Using the Fib tool on the...
USDCAD broke above the falling trend line on the 4-hour chart, indicating that the short term downtrend from 1.2916 had completed at 1.2666 already. Further rally to test 1.2819 resistance would likely be seen in the coming...
USDJPY broke above the falling trend line on the 4-hour chart, suggesting that the short term downtrend from 114.73 is complete. Another rise to test 114.73 resistance would likely be seen in the coming days. A breakout...
