USDCAD Down After a Tricky Elliott Wave Pattern
USDCAD climbed to 1.3290 on July 19th, but instead of lifting the pair even higher, the bulls lost momentum. A bearish reversal followed as a result. By July 25th, when we had to send our next update...
View ArticleGBPJPY Bears Remove a Major Hurdle
It has been less than 20 days since our last update on GBPJPY. On July 20th we shared our view that the pair is “looking into the hard Brexit abyss” and while the pair was trading around 146.20, we...
View ArticleAUDNZD Gains 500 Pips After Fibonacci Encounter
AUDNZD shot up sharply today, following a statement from the Reserve Bank of New Zealand that cemented the country’s interest rate at its current level for the foreseeable future. The pair was trading...
View ArticleTwo Months Ahead of EURUSD ‘s Turkey-Driven Selloff
EURUSD’s selloff has resumed. The pair fell to as low as 1.1432 earlier today, following a Financial Times report stating the European Central Bank is concerned about some European banks’ exposure to...
View ArticleJapanese Yen Refuses to be the Dollar’s Latest Victim
Last week, when most major currencies like the euro, the Canadian dollar and the British pound (not to mention the Turkish lira) fell against the U.S. dollar, one currency managed not only to hold its...
View ArticleRiding EURUSD ‘s 1100-Pip Elliott Wave Crash
The way the year began gave EURUSD bulls a lot of reasons to hope for a great 2018. On February 19th, the euro was trading above 1.2400 against the U.S. counterpart, following a phenomenal 2017. Angela...
View ArticleElliott Wave Pattern Sent EURUSD Higher, Not Trump or Cohen
What a week for EURUSD bulls! The pair is moving sharply up after weeks or even months of suffering. After opening at 1.1437 on Monday, the European currency climbed to almost 1.1623 against the U.S....
View ArticleAs USDJPY Plunges, Ralph Elliott is Smiling Somewhere
It has been a wild ride for USDJPY traders last week. The pair opened at 111.31 on Monday and rose to 111.83 on Wednesday before crashing to 110.69 by Friday. It still managed to close the session...
View ArticleEmerging Markets Crisis Not to Blame for EURUSD ‘s Drop
Following several very strong days that saw EURUSD appreciate from 1.1300 to 1.1734 between August 15th and 28th, the European currency is under pressure again. The pair is currently hovering under...
View ArticleUSDJPY Changes Direction Twice in Two Days
It has been a volatile week for USDJPY. The pair started the session on a positive note and rose to 111.76 on Wednesday. However, instead of keeping up the momentum the bulls quickly exhausted their...
View ArticleFibonacci Support Sent USDJPY Skyrocketing
Earlier today, USDJPY climbed to 112.88, which is just 30 pips shy of its 2018 high at 113.18 reached in mid-July. Just two weeks ago, on September 7th, the pair fell to as low as 110.38, which means...
View ArticleEURUSD: When the Fed Supports the Elliott Wave View
Following a recovery of more than 500 pips in a little over a month, EURUSD suddenly crashed from 1.1815 to 1.1570 last week, erasing half of its recent progress in just a few days. The selloff came...
View ArticleUSDMXN: Is the 18.50 Support Going to Hold?
It has been over two months since our last article about USDMXN. On July 27th, the Forex pair was trading slightly above 18.6150. The Elliott Wave Principle then suggested “a corrective rally to 19.50...
View ArticleA Week of Trend Reversals in the Forex Market
The Forex market was very interesting to observe last week. Major news like the Non-Farm Payrolls report in the U.S., the new trade deal between the USA, Canada and Mexico, and Bank of Japan’s...
View ArticleGBPCAD ‘s Rally Needs a Healthy Pullback
October is shaping up to be a good month for GBPCAD bulls. The pair dipped below 1.6600 on October 2nd, but quickly reversed to the upside for a recovery of over 470 pips so far. Earlier today the...
View ArticleUSDJPY Gave Us a Road Map Three Months Ago
There is a reason why it is called “trading” and not “bottom/top picking”. The latter is literally impossible even with the best trading tools and techniques. Even the Elliott Wave Principle, which we...
View ArticleUSDCAD Unreliable Resistance Identified in Advance
After slightly exceeding 1.3000 on October 8th, USDCAD retreated to 1.2926 two days later. Given that the pair has been declining since the 1.3386 top registered in late-June, assuming the bears are...
View ArticleGBPJPY: Bearish Reversal Expected Near 151.00
GBPJPY has been in recovery mode since it touched 139.90 on August 15th. On September 21st, the pair climbed to a multi-month high of 149.72, but fell to an intraday low of 146.51 yesterday. As of this...
View ArticleSolving USDJPY Riddles with Elliott Wave Hints
Unlike the stock market, where a profitable company with a growing market share will eventually grow in value in the long-term, the Forex market can be a real riddle. Macroeconomic, political and...
View ArticleEURUSD Sharp U-Turn Predicted by Elliott Wave
2018 has so far been a terrible year for EURUSD bears and the month of October made no exception. The pair climbed to 1.1815 in late-September, but could not maintain the positive momentum. By October...
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