Elliott Wave Months Ahead of USDCNH’s Selloff
It has been a rough 2017 for USDCNH bulls so far. The pair has been in an uptrend since January, 2014, but it feels as if it was simply waiting for the calendar to change. The dollar climbed to as high...
View ArticleGBPUSD, Time to Hold Your Horses
Ever since it fell to as low as 1.2774 on August 24th, GBPUSD has been steadily rising. Today, the pair climbed as high as 1.3353 after it became clear that the Bank of England was getting ready for a...
View ArticleEURUSD’s Chart Was Heavy Ahead of FOMC
The Federal Reserve announced yesterday it is keeping the interest rate unchanged, a move that was largely anticipated. However, 2017 is still expected to see another rate hike with three more coming...
View ArticleGBPJPY On Its Elliott Wave Way to 160?
Despite the fact that volatility drops significantly during the summer, obviously not everyone was on vacation, because on August 9th we received an on demand order to make an Elliott Wave analysis of...
View ArticleUSDCAD’s Choppy Advance Still Delivers 250 Pips
USDCAD fell from 1.3793 to as low as 1.2061 in a little over 4 months. This means the U.S. dollar lost a total of 1732 pips against the Canadian counterpart, or 433 per month on average. In the Forex...
View ArticleUSDJPY’s Chart Was Bullish Three Weeks Ago
Less than a month ago, on October 16th, USDJPY fell to 111.65 and it looked like more weakness would follow. Instead, the pair is currently trading above 114.30, after it climbed to 114.73 yesterday,...
View ArticleEURUSD and the Broken Price Channel
It has been a good week for EURUSD bulls so far, who managed to lift the pair from 1.1637 to as high as 1.1860 by Wednesday. This rally has not been widely expected for two reasons. First, the euro has...
View ArticleUSDJPY’s Sudden Change of Heart Explained
Not too long ago, on November 6th, the U.S. dollar climbed to as high as 114.73 against the Japanese yen, which was its highest level since mid-March. But instead of maintaining the bullish momentum,...
View ArticleGBPJPY Unmoved by Brexit… For Now
GBPJPY climbed to its highest point in over a year yesterday, despite Brexit negotiations not going in the best possible way. The pair has been in recovery mode since October 2016, but its chart is...
View ArticleUSDCAD Ahead of the ADP Report with Elliott Wave
Last week, USDCAD crashed from 1.2909 to as low as 1.2680. This week, the pair initially fell to 1.2623, but quickly reversed to the north again and now appears determined to regain all of last week’s...
View ArticleEURUSD Starts 2018 On a Tear. Surprised?
2017 has been a great year for EURUSD bulls. During the last twelve months, the pair climbed from as low as 1.0340 to almost 1.2100 and managed to finish the year above the 1.20 mark for the first time...
View ArticleEURUSD Weeks Ahead of the German Coalition Talks
It has been a wild week for EURUSD. The pair opened at 1.2027 on Monday, but quickly fell by over 100 pips to 1.1916 on Tuesday, only to resume its rally and reach a new three-year high of 1.2134 as of...
View ArticleUSDMXN and the Market’s Fractal Nature in Practice
January will be a month to forget for U.S. dollar bulls, who saw the greenback falling sharply against most major rivals. USDMXN is no exception as the pair is down by over 4.7% since the beginning of...
View ArticleUSDTRY in a Corrective Pullback Within Uptrend
It has been 10 years since USDTRY bottomed at 1.1488 in January 2008 and started an uptrend that is still in progress. In late November 2017, the exchange rate climbed to as high as 3.9826, but then...
View ArticleUSDCAD’s Sudden, but Natural Plunge Explained
USDCAD’s lost ground this week reminds traders just how quickly things change in the Forex market. A week ago, on Friday 9th, the pair touched 1.2688. Five trading days later, the greenback is down to...
View ArticleEURUSD Sent North by Fibonacci Support
EURUSD bulls had nothing to complain about last week, as the pair rose from 1.2248 to a new 3-year high of 1.2555. It is no secret that the pair has been in an uptrend, especially since it has been...
View ArticleUSDCAD and Crude Oil Abandon Negative Correlation
Between 2000 and 2016, USDCAD and crude oil had a negative correlation in 93% of the time. Canada is one of the world’s biggest oil producers and the largest oil supplier to the United States. So, when...
View ArticleCanadian Dollar Weakness Anticipated by Elliott Wave
Canadian dollar bulls had another week to forget, after the USDCAD rate surged from a low of 1.2615 on Monday to nearly 1.2900 so far. There have been two fundamental factors that applied pressure on...
View ArticleUSDHUF Close to Major Elliott Wave Support
Surprisingly or not, the U.S. dollar has been losing ground not only to its major rivals like the Euro and the Japanese yen, but against the Hungarian Forint, as well. USDHUF reached 302.22 on December...
View ArticleTrade War Not to Blame for USDJPY’s Plunge
USDJPY bulls looked like they were up to something, when the pair climbed to 106.61 on Tuesday. Three days later today, the pair is currently hovering at 104.90 after a 200-pip plunge to 104.64....
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