AUDUSD Descending Channel (Apr 12, 2018)
AUDUSD is trending lower on its 4-hour time frame and is currently on its way to the resistance. Applying the Fib retracement tool on the swing high and low shows that this lines up with the 50%...
Category: Daily Forex Reports
Elliott Wave Analysis: USDCAD Moving in Impulsive Structure
USDCAD Short Term Elliott Wave view suggests that the decline from 3/19 high (1.313) is unfolding as a 5 waves impulse Elliott Wave structure. Down from 1.313, Minor wave 1 ended at 1.2819, Minor wave 2 ended at...
EURNZD Forecasting The Decline after Elliott Wave Flat
Hello Fellow Traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of EURNZD published in members area of the website. We’re going to explain the forecast and Elliott Wave...
Ruble Falls Following US Sanctions Against Russia
New U.S. Sanctions Hurt Russia’s Ruble and Benchmark Index Last Friday, as part of the U.S. effort to punish Moscow for “malign activity around the globe”, the U.S Treasury Department targeted numerous Russian oligarchs, officials, and companies...
Elliott Wave Analysis: Gold in Sideways Range
Gold short term Elliott Wave view suggests that the yellow metal is in a sideways move, typical characteristic of a triangle Elliott Wave structure. A triangle is a sideways range structure with ABCDE label. In the case...
EURAUD Head and Shoulders (Apr 11, 2018)
EURAUD could be due for a downtrend as a head and shoulders pattern has formed on its 4-hour chart. Price has yet to break below the neckline at 1.5900 to confirm the potential drop. The 100 SMA...
Nifty 50 Index Bullish Sequence to the All Time Highs
The Nifty 50 Index has a bullish sequence from the lows to the all time highs. The index currently shows nine swings up from the all time lows into the 2018 highs. It is now correcting the cycle...
Market Nature and The Elliott wave Theory
The human nature by definition is the general psychological characteristics, feelings, and behavioral traits of humankind. As such, everyone shares this nature. Similarly, the market also has a market nature and since it is created by humans,...
US dollar looking for support against Japanese yen
The US dollar has initially tried to rally during the trading session on Monday but found a bit of resistance at the 107.20 level. The market has more than enough support below to keep it afloat though,...
US dollar falls against the Canadian dollar on Monday
The US dollar initially tried to rally during the trading session on Monday, but then broke down through the 1.2750 level. The market looks likely to go down to the 1.27 level, an area that should be...