Very nice, almost perfect advance since yesterday update at the end of the Wall Street session when a fourth wave triangle has completed. We know that triangle unfolds just prior to the FINAL wave of a the larger pattern, and as such, prices will likely slow down in sessions ahead, since our blue wave (v) … “GBP/USD Elliott Wave Update”
Category: Opinions
GBP/USD Elliott Wave Analysis
The most recent structure on cable looks very corrective, and shows a clear evidence of a triangle consolidation, which appears in wave iv) of an impulsive structure. As such, new highs are expected in coming sessions, which will be wave v), targeting 1.6380/400 region, while 1.6250 support holds. Break through the upper blue resistance line … “GBP/USD Elliott Wave Analysis”
GBPJPY – Bullish, Sets Up For More Gains
GBPJPY – With a firm hold above the 135.47 level seen and a challenge on further upside underway, GBPJPY looks to target the 142.00 level. This buttresses our call for the possibility of a follow through higher in our weekly analysis. Its new offensive is coming on the back of the resumption of its short … “GBPJPY – Bullish, Sets Up For More Gains”
The FX significance of higher ECB rates
Much has been made of the economic implications of today’s anticipated ECB interest rate increase, not least the fact that it’s likely to make matters worse for the periphery, rather than better. Nevertheless, there are two reasons why at least in the short-term, it’s of significance for FX. Guest post by FXPro Firstly, the ECB … “The FX significance of higher ECB rates”
Buy the Rumor, Sell the Fact? ECB Preview
EUR/USD enjoyed the implicit and explicit talks about a rate hike in the Euro-zone. But now, as the moment of truth has arrived, the outcome for the common currency could be very different. Here’s a preview for the ECB rate decision, with 5 scenarios. Rate Hike vs. Debt Crisis In the previous press conference that … “Buy the Rumor, Sell the Fact? ECB Preview”
EURUSD: Resumes Long Term Uptrend
EURUSD: The pair has now turned above the 1.4266/79 levels, its key resistance level paving the way for a further strength towards the 1.4576 level, its Jan 2010 high. We will like to see EUR hold above the 1.4266/79 levels on a daily closing basis to convince the market of further strength. Guest post by … “EURUSD: Resumes Long Term Uptrend”
Usd/Jpy Approaching 86.00
Usd/Jpy once again established new highs, now well above 85.00 region, where the price action may slow down. The reason is of course the substructure which is in five waves within an extended red wave 3). Guest post by Gregor Horvat As such, we need to pay attention on the red support line, where a … “Usd/Jpy Approaching 86.00”
AUD/USD – Trading the Home Loans Release
Australia’s publication of the change in home loans is a key indicator for the housing sector and for the whole economy. The release always results in strong moves in the Aussie and provides a trading opportunity. Indicator Background The change in the number of loans for homes is important as it reflects the willingness of … “AUD/USD – Trading the Home Loans Release”
GBPUSD: Strengthening Within Its Range
GBPUSD: The pair continues to build on its past week gains strengthening on Monday and following through higher in early trading today. However, GBP remains trapped within its range between the 1.5964 and the 1.6342 levels. Guest post by www.fxtechstrategy.com. Above the 1.6397 level, its Mar 22’2011 high is required to bring the pair out … “GBPUSD: Strengthening Within Its Range”
Market Trends Favor Australian Dollar gains, Japanese Yen losses
Will the Euro sell off if the rate hike is only 25 basis points? Why is the Aussie unstoppable? Is the big intervention in the yen succeeding, and what does it depend on? Answers to these questions and more are provided by quantitative analyst David Rodriguez. David Rodriguez is a quantitative analyst for DailyFX.com, specializing … “Market Trends Favor Australian Dollar gains, Japanese Yen losses”