GBPUSD has formed higher lows and slightly higher highs, creating a rising wedge pattern visible on its daily chart. Price is currently testing the resistance and might be due for a move back to support soon. Stochastic...
Short term SPX Elliott Wave view suggests the rally from 5/18 low (2352.7) to 6/19 peak (2453.8) ended Minor wave 3. The pullback from 2453.8 to 2405.70 on 6/29 low ended Minor wave 4. Up from there, the...
Short term DXY (USD Index) Elliott Wave view suggests the decline from 6/20 peak (97.87) is unfolding as a Zigzag Elliott Wave structure. Down from 97.87 high, decline to 95.47 ended Minor wave A, and bounce to 96.51 high ended...
The USD/CAD pair fell slightly during the day on Tuesday to continue the overall downward trend. We did bounce later in the day, but I think that there is going to be a certain amount of resistance...
The British pound initially tried to rally on Tuesday but found a ton of resistance near the 1.3125 level. This was exacerbated by the less than stellar CPI numbers coming out of the United Kingdom. Because of...
The EUR/USD pair rallied during the day on Tuesday, breaking above the 1.15 handle. We broke above there, pulled back to find support, and then continue to go even higher. This is a major break out as...
The Australian dollar rallied during the day on Tuesday, slicing through the 0.79 handle. The market broke out to the upside, and it now looks as if we are ready to continue going higher. After all, we...
GBPJPY has failed in its last two attempts to break past the 147.50 minor psychological resistance, creating a double top reversal formation. Price is currently testing the neckline at 145.50 and could be due for at least...
Short term DXY (USD Index) Elliott Wave view suggests the decline from 6/20 peak (97.87) is unfolding as a Zigzag Elliott Wave structure. Down from 97.87 high, decline to 95.47 ended Minor wave A, and bounce to 96.51 high ended...
The US dollar rallied during the day on Monday, after initially falling. However, I think that the 113 level above is going to offer a bit of resistance, just as the 112-level underneath is going to offer...
