USD/JPY Daily technical analysis

Alex Bullbearg

After the publication of data on initial applications for benefits, which were lower than expected, the USDJPY was fixed above the support level of 119.80, however, the desired results are not shown. The dollar weakened instantly. If we talk about the long term, it is necessary to wait until the price will be confident enough to overcome a horizontal range of 119.40-120.28. more…

EUR/JPY: Everything is Awesome

Neal Gilbert

The last half of the North American trading session was pretty much a reflection of the first as equities pretty much ground lower throughout and the USD kept clawing back some gains as well. The EUR was trying to gain back some respectability on positive sentiment figures out of Germany to start the day, but appears to be losing some momentum as we transition over to the Asian desks. If commodities or equities have an eye toward rallying moving forward, the Australian CPI release this evening will have to step up to the plate, otherwise a bigger drop may be in order. more…

Elliott Wave Short Term Forecast Update EUR/USD

Ville Vainio

Apr 20, 2015 @ 15:30

A downwards bias in EUR/USD and this might be start of minute wave 3. This next wave should accelerate this decline and carry EUR/USD to new lows and beyond 1.046 which was previous minor wave 3 low.

Taking into account this wave count and few months of negative economic data from US I think there will be massive run FROM the dollar, as there were massive run to the dollar that accelerated about a year ago. more…

EURUSD: Corrective Wave Still Unfolding

Grega Horvat

EURUSD turned sharply up last week back to mid-range from the last two months so it looks like that corrective wave is still unfolding. We are tracking wave IV now that is part of ongoing five wave decline in wave C) which could break down to around parity before EUR bears can be finished. Wave V could send price to new lows before the summer of this year. more…

EUR/USD Reversal?

Peter Adamson

News headlines are a very good indicator of market reversals. I was in New York in July 2002, near the end of the dot com bust. The financial news was full of doom and gloom. Talking heads were tripping over themselves looking for superlatives to describe the carnage. The phrase of the moment was “no bottom in sight”. When I heard that my ears perked up. It was a sure sign that a bottom was in sight, if it had not already occurred. The bottom did occur a few weeks later just seven points lower than July’s low. more…

EUR/USD Daily Technical Analysis

Alex Bullbearg

As the graph shows, the growth of the currency pair has been going on for three days. Negative statistics across the United States continue to disappoint traders betting on the decline. On Wednesday, it was possible to observe a negative Industrial Index from the US Federal Reserve on Thursday, everyone was waiting for data on the labor market, which also proved to be unsatisfactory, and also – Lockhart’s statement about caution to an early increase of interest rates. Publication is scheduled for today Core Consumer Price Index, perhaps this news will positively affect the US dollar. more…

AUDUSD: In Which Dollar Do You Believe?

Neal Gilbert

The second half of North American trade was very similar to the first half in that the USD continued to take a beating at the hands of the rest of the developed world’s currencies. Major currency pairs were all making notable highs against the USD at least once during the day as EUR/USD rose up to 1.07, NZD/USD took out 0.76, GBP/USD burst through 1.48, and USD/CAD went on a rampage by falling over 250 pips and breaking out of its long drawn out range. Even the much beat up upon AUD/USD made a nearly 100 pip run up to 0.77 before retreating slightly as we careen toward the end of the trading day. more…

Elliott Wave Long Term Forecast EUR/USD

Ville Vainio

After reviewing EUR/USD charts I have altered the degree on the wave labelling and also the view of the longer term direction has changed.

This new Elliott wave count and labelling suggests that the bullish trend from October 2000 low of 0.82250 was cycle wave 1 and the decline from the July 2008 high of 1.6037 to date was cycle wave 2. This Elliott wave count suggests that the recent decline from 1.3993 was primary wave C of cycle wave 2. If this large corrective wave has just bottomed, there is going to be massive bull market on EUR/USD, although the bottom might not be in place just yet. more…

Crude OIL: Correction Is Still Unfolding

Grega Horvat

Crude oil fell to a new low in March but this does not mean that corrective fourth wave is complete. In fact, price turned up, back above 50 last week, so we assume that correction is still unfolding. With that in mind, we will be looking even lower once the sideways move is finished. Based on latest price action we assume that energy is forming a triangle pattern. more…

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