GBP/USD Forecast April 6, 2017, Technical Analysis
The British pound rallied during the session on Wednesday, as the 1.24 level continues to offer support. Because of this, it looks as if this is a “buy on the dips” type of market, but I...
Category: Daily Forex Reports
EUR/USD Forecast April 6, 2017, Technical Analysis
The EUR/USD pair went back and forth during the trading session on Wednesday, as we continue to stagnate near the 1.0650 handle. I think that this market is simply consolidating in a very tight range and...
AUD/USD Forecast April 6, 2017, Technical Analysis
The Australian dollar tried to rally on Wednesday, but struggled a bit as we ended up forming a less than impressive candle. Because of this, I believe that the market is going to be very choppy going...
GBPAUD Triangle Breakout (Apr 06, 2017)
GBPAUD formed lower highs and higher lows, creating a symmetrical triangle formation on the 4-hour time frame. Price is starting to break past the triangle resistance, signaling that pound bulls are taking control of price action and...
EURJPY Elliott wave View: Correction in progress
Short term Elliott Wave view in EURJPY suggests that cycle from 3/12 peak (122.89) is unfolding as a double three Elliott wave structure where Minor wave W ended at 119.28 and Minor wave X ended at 120.45. Minor wave...
USDCAD Resistance Turned Support (Apr 05, 2017)
USDCAD recently broke out of its range and reached the 1.3450 minor psychological resistance before pulling back down to the broken resistance. Applying the Fib tool on the latest swing low and high shows that the 38.2%...
Crude Oil (CL_F) Elliott Wave View: 5 Wave Impulse
Crude Oil (CL_F) started rallying from 03/22 low in a bullish structure which still needs another leg higher to become 5 impulsive waves. The instrument ended the minute wave (( iv )) at the 23.6% Fibonacci retracement area 49.96 from...
EURJPY Elliott wave View: More downside
Short term Elliott Wave view in EURJPY suggests that cycle from 3/12 peak (122.89) is unfolding as a double three Elliott wave structure where Minor wave W ended at 119.28 and Minor wave X ended at 120.45. Minor wave...
USD/JPY Forecast April 4, 2017, Technical Analysis
USD/JPY daily chart, April 04, 2017 The USD/JPY pair continues to be volatile, as we have tested the 200-day moving average yet again on Monday. This is a market that looks as if it wants to go...
USD/CAD Forecast April 4, 2017, Technical Analysis
USD/CAD daily chart, April 04, 2017 The USD/CAD pair shot higher during the day as oil got pummeled. Because of this, I think if we can break above the 1.34 handle, we should then go to the...