Tag Archives: USD

GBPUSD Trading Near Resistance; Downtrend Continuation May Be Near

Gregor Horvat

Pound has moved higher last week, more than we anticipated but still with potential corrective structure. We see three legs from the lows with wave (c) now trading near resistance. Usually corrections of second waves will retrace for nearly 50-61.8% compared to previous five wave move which in our case is very near so bearish turn may follow in sessions ahead. At the same time we also see cable at resistance of the previous swing low from Sep 16th. Technically speaking bears can cause a turning point soon, but downtrend continuation will be confirmed only when price goes beneath 1.5244. more…

GBP/USD: Bulls Get A Day In The Sun On M&A Speculation, Economic Data

Matt Weller

The big news in global markets Wednesday was Anheuser-Busch InBev’s higher buyout offer to SABMiller. After the British-domiciled SABMiller turned down offers of £38 and £40 per share earlier, AB InBev raised its latest proposal to £42.15/share for a total value of $104B. If accepted and approved by anti-trust regulators (a big risk to any potential merger), the deal would create an international behemoth responsible for about one-third of global beer supply. more…

USDJPY: Bearish Pennant In Progress

Nenad Kerkez

USD has recovered to some extent after bad NFP result mostly by rising of US yields and general USD sentiment. Technically we can spot a huge bearish pennant on H4 chart with a clear range in between. Adding to that we can see that MACD is going sideways and histograms are very small which indicates that the pair is stuck in a range with no momentum. more…

USDCAD Can Still Be In A Corrective Phase

Gregor Horvat

USDCAD is turning sharply down from recent highs, which could be start of a new bearish cycle. However, we will always try to label the count so that we will stay with a trend. As such, we adjusted the labeling to a flat in wave 4) which can still drop nearly 300 pips before market can be looking for a support. At the moment we are tracking sub-wave C to 1.2950. Ideally more…

EURUSD: Outlook Remains Unchanged

Ville Vainio

Lower than expected NFP figures did not change the outlook for EURUSD. After a very complex sideways correction EURUSD is continuing the larger downwards trend. This next move down should be 3rd of a 3rd wave and the most powerful in the 5 wave sequence. I am expecting a similar and more powerful decline that we got from the high at 1.1713 to low of 1.10865. more…