Gold Edging Closer To Support

Janne Muta

Ever since the US dollar started move strongly higher last year most analysts have predicted Gold would considerably lower in USD terms. This however has not taken place and the price of Gold has been moving sideways since November last year. This has been a clear sign of relative strength and suggests that there have been underlying demand factors supporting this market. However, price action in Gold since the US Dollar index (DXY) started topping has not supported the Relative Strength idea. A market that has true relative strength bounces sharply higher when more…

EUR/CAD Eying New Highs After NFP Correction

Ville Vainio

June 5, 2015 @ 2:33 pm – NFP release triggered a decline on EUR/CAD and I have labelled this as minute wave 4 (which may still decline further). 1.37485 is the peak of minute wave 1 and this 4th wave cannot move below that level without breaking Elliott wave rules. There is still room for this to go lower without breaking any rules and when this minute wave 4 has found its lowest point, I am expecting minute wave 5 to take over and take EUR/CAD towards new short term highs. more…

It’s Hard To Be A Contrarian…

Peter Adamson

You have undoubtedly heard the saying, it’s hard to be a contrarian when everyone agrees with you. If you have been following my recent posts, you know that I forecast a reversal of the Euro bear market, and that we had already seen the bottom on 15 March. One of the reasons for my view was the overwhelming negative consensus on the Euro. more…

USD/JPY Revised Short Term Elliott Wave Forecast

Ville Vainio

June 3, 2015 @ 3:48 pm – USD/JPY moved higher today but a sharp decline erased most of those gains. My preferred count suggests one more minuette wave degree wave up before larger correction. at 126.3 minuette wave 5 would be equal in length with minuette wave 1 and that should act as one possible target for this to peak. more…

AUD/USD Could Break Lower In Days Ahead

Grega Horvat

A few weeks back AUDUSD has turned bullish for some time, but most likely only temporary as rally from the low was having an overlapping structure. We know that this is a characteristics of a contra-trend price action, so trend remains bearish for now within impulse that is in play since mid-2014. We see market moving sharply lower now after broken upward channel, so wave (5) is in play for a move down to 0.7100-0.7300 area. more…

USD/JPY Looking To Correct

Ville Vainio

May 29, 2015 @ 4:45 pm – USD/JPY has declined a bit but it is unclear if this has turned down for the minute wave 2 correction. This is a powerful advance from the triangle and in my opinion is ripe for a correction. I have labelled this minute wave 1 of minor wave 5 as peaked at 124.45 and am looking for a decline next. Previous 4th wave is way down at 120.63 and this next correction could drop as low as that. more…

AUD/USD: Bearish Reversal Confirmed

Grega Horvat

AUD/USD has turned up in the past few months, but most likely only temporary as the rally from the low is having an overlapping structure. We know that this is a characteristic of a contra-trend price action, so trend remains bearish for now within impulse that is in play since mid-2014. Ideally, market is now breaking lower, down into wave (5) after recent push beneath the channel line. That said, an impulsive decline could unfold towards April lows. more…

GBP/USD: Fed Speaks, Market Listens

Neal Gilbert

Dollar bulls were back in the saddle again on the first full trading day of this holiday shortened week as speeches from important Federal Reserve members has sparked a bit of USD love. Harkening back to late last week, Fed Chairwoman Janet Yellen didn’t mince any words in suggesting that rates will most likely be hiked this year, and Vice Chairman Stanley Fischer echoed that same sentiment shortly before lunchtime here in the US today. The confidence in which the two highest ranking members on the Fed’s voting board voiced their intentions has struck a chord with investors and the old saying about “Don’t Fight the Fed” is being respected. Potentially adding to the rate hike fever is the Richmond Fed’s Jeffrey Lacker, a noted hawk, who will be speaking to the LSU Graduate School later this evening. more…

Elliott vs. Gann: Another View Of EUR/USD

Ville Vainio

May 25, 2015 @ 3:53 pm

EUR/USD has come down a little today but not much. This is likely a small degree correction on this minute wave 3 and the decline will accelerate when this correction is finished. My preferred wave count sees this next wave down to reach at least 1.075 level. Eventually this larger bearish trend will continue to new lows beyond 1.046. more…

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