The move away from Petrodollar In 1974, US President Richard Nixon and King Faisal from Saudi Arabia struck a deal. This deal gave birth to the petrodollar system which still lasts until this day. The deal involves Saudi Arabia selling...
The US dollar initially tried to rally during the session on Tuesday, but found significant resistance at the 113.90 level. By pulling back, we reached towards the 113.50 level, finding support yet again. Ultimately, the market looks...
The US dollar initially fell against the Canadian dollar, but found enough support at the 1.27 level II bounce significantly. By forming a hammer on the hourly chart, we then broke towards the upside, reaching towards the...
The British pound went sideways during the trading session on Tuesday, as the 1.3050 level underneath should offer support. I believe that the market will eventually rally, as we have been consolidating for some time. Because of...
The EUR/USD pair broke out during the trading session on Tuesday, slicing through the 1.17 level. This is a very bullish sign as that was the neckline of a head and shoulders, and it now negates what...
The Australian dollar has been very noisy during the trading session on Tuesday, as we continue to pound to the downside. It looks as if we are going to try to break down below the 0.76 handle,...
GBPAUD is slowly breaking above the resistance of its symmetrical triangle pattern on the daily time frame. This chart pattern is approximately 2000 pips tall so the resulting uptrend could be of the same height. The 100...
EUR/USD has reacted to the rise after knowing the United States production prices, which grew more than expected in October. The pair has risen to a new high of almost three weeks at 1.1765. US: Bullard mitigates...
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...
