NZDUSD Reversal Signal (Nov 30, 2015)
NZDUSD has been on a selloff but it looks like a reversal may be in order. Price is forming an inverse head and shoulders pattern on its 4-hour time frame, with an upside break of the neckline...
Month: November 2015
When You Trade and Invest, Why Use the Wave Principle?
By Elliott Wave International The question: Why use the Wave Principle when trading or investing? The answer: To avoid the herd that usually loses money in the markets. The explanation: Herding makes it difficult to follow the...
USDCAD Weekly Analysis – November 29, 2015
USDCAD is facing 1.3456 resistance, a break of this level will signal resumption of the uptrend from 1.1919, then the following upward movement could bring price to 1.4000 area. Near term support is at 1.3200, only break...
USDJPY Weekly Analysis – November 29, 2015
USDJPY remains in short term uptrend from 118.16, the fall from 123.75 is likely consolidation of the uptrend. Further rise to test 125.85 resistance is still possible, a break of this level will signal resumption of the...
AUDUSD Weekly Analysis – November 29, 2015
AUDUSD continued its sideways movement in a trading range between 0.6907 and 0.7439. As long as 0.7439 resistance holds, the sideways movement could be treated as consolidation of the downtrend from 0.9504 (Jul 1, 2014 high), another...
GBPUSD Weekly Analysis – November 29, 2015
GBPUSD stays below the downward trend line on daily chart, and remains in downtrend from 1.5929. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at...
EURUSD Weekly Analysis – November 29, 2015
EURUSD’s downward movement from 1.1713 extended to as low as 1.0566. Further decline to test 1.0462 (Mar 13 low) support is possible, a breakdown below this level will signal resumption of the long term downtrend from 1.3993...
USD/JPY Forecast November 30, 2015, Technical Analysis
The USD/JPY pair initially fell during the day on Friday, but then turned around to form a bit of a hammer. The 122 level below is massively supportive in our opinion, as we continue to consolidate between...
USD/CAD Forecast November 30, 2015, Technical Analysis
The USD/CAD pair broke higher during the course of the day on Friday, clearing the top of the candle from both Wednesday and Thursday. Because of this, we feel that the market will eventually break out to...
GBP/USD Forecast November 30, 2015, Technical Analysis
The GBP/USD pair broke down below the bottom of three separate hammers during the session on Friday, testing the 1.50 level. If we can get below the bottom of the range at the 1.50 level, we feel...