Tag Archives: USD

EURUSD Corrective Wave Forming

Ville Vainio

EURUSD is forming a corrective minute wave (B). The last part of this large correction is half way done and should be 3 wave, A-B-C structure. The “thrust” measurement from the triangle is giving target of 1.1495 and Fibonacci expansion projection gives target about 1.1445 so those targets should give indication of the top for this minor wave Y. more…

EURUSD Challenging Resistance Above 1.1090

Janne Muta

EURUSD rallied to the 1.1090 resistance identified in my report yesterday. The pair reacted lower but then attracted buyers at an intraday support at 1.1012. This has led to a fifth consecutive up day with price once again trying to challenge the resistance area above 1.1090. EURUSD is trading inside the upper Bollinger Bands (1.5 and 2 stdv) and the Stochastics is getting overbought. Trend in 4h resolution has been strong and suggest that this will be another day without a significant correction in EURUSD but the upside is indeed getting limited as the resistance area is near. EURUSD is trading near levels that have been able to turn price lower before, therefore I expect that in today’s trading upside will be limited to 1.1090 – 1.1130 range. more…

EURUSD: Bullish Triangle About To Close

Ville Vainio

Up and down goes EURUSD and not giving a clear signal on the trend direction. Price action is looking corrective and EURUSD has not yet confirmed on the downside that the larger wave down has started. Friday’s NFP release sent EURUSD just over 100 pips down from the day’s high, which the market rapidly took back. The figures were slightly below expectations and in my opinion does not give much clarity on rate hike situation. more…

USDJPY Targets 127.00

Gregor Horvat

USDJPY remains in bullish mode on the daily time frame, despite deep downward retracement to 120.40 that looks now as a completed wave 4 because of a three subwaves down. As such, we suspect that rally since March is going to be an expanding diagonal; it’s a five wave pattern, currently with final sub-wave 5 in play that will likely be targeting 127.00 area, where top could be seen later this summer. more…

More Upside On EURUSD This Week

Ville Vainio

FOMC Thursday sent EURUSD lower. The statement did not say anything new and the rate hike nonsense is not any more clear than before. In my opinion there is going to be probably one rate hike but no more. EURUSD has declined since Wednesday and the decline is looking strong. If EURUSD goes below the recent low at 1.0808 my wave count needs a revision. I am going to keep this wave count which suggests a large triangle. more…

USDCAD Is Retracing Towards POC

Nenad Kerkez

US FED will release the statement today, without any press conference and we will probably have some range-bound market till FED statement. Expectations towards rate hike are rising and we could see a rate hike in between September and December. US CPI has come in line with expectations, Core Durable Orders also while major news release for CAD will be GDP later in the week (Friday). However any mention of a possible hike is bullish to USD and traders will pay close attention to FED’s statement. more…