USD/JPY has been trading sideways in past 24h hours at the price of 108.08. Anyway, I found bearish divergence on the MACD oscillator, which is sign that there is potential for the downside. Be careful with long positions. Upper green line – Broken support line Purple line – Expected path Blue horizontal lines – Support […]

Unlike the first week of the fall, when a key event (a report on the US labor market) left investors indifferent, the September meeting of the ECB made a real sensation on the market. Prior to the Governing Council’s meeting, there was much talk of whether the QE should be reanimated, and about the euro‘s […]

GBP/USD did exactly what I expected yesterday and both our upward targets at 1.2374 and 1.2430 have been met. Anyway, I see still strong upward momentum in the background, which is sign that there still more upside to come. Next upward target is set at the price of 1.2515 (Fibonacci expansion 161.8%) Upper green line […]

To open long positions on GBP / USD pair, you need: Yesterday’s unsuccessful attempt by the bears to strengthen the downward correction only returned the market new large buyers who made a breakthrough at the resistance of 1.2385 in the morning today and fixed above this range, which was transformed to the level of 1.2397. […]

AUDNZD breached the five-month high from April 17, after plotting gains in a rally that commenced on August 6. The indicators are reflecting an increase in positive directional momentum. The MACD has re-inclined above its red trigger line in the positive region, while the upward sloping RSI crosses into overbought territory. Further endorsing the view, […]

With the ECB meeting over, it’ll be the turn of other central banks to try and impress stimulus-hungry markets with no less than four major policy meetings still to come. The Bank of Japan, the Bank of England, the Swiss National Bank, and of course, the Federal Reserve will announce their decisions over the next […]

China’s 50 stock index (CHI50)  made a U-turn near the 50-period simple moving average (SMA) in the four-hour chart and is building momentum to reclaim strong resistance around 14,060. According to the RSI and the MACD there is more upside in store as both indicators point upwards in the bullish area, while in Ichimoku indicators, […]

The world’s second-largest economy will see the release of its industrial production, retail sales, and fixed asset investment data for August early on Monday, at 02:00 GMT. Forecasts point to a pickup in most indicators, which if confirmed, may signal that Beijing’s stimulus measures are finally starting to pay off. While that may help the […]

USDCAD bulls shot above the 200-day simple moving average (SMA) on September 3, but it seems that the bullet was a dud. The bears reversed underneath the 1.3355 resistance, which is the 61.8% Fibonacci retracement level of the down move from 1.3564 to 1.3015, and more importantly the 200- and 100-day SMAs. It seems like […]

ECB cuts rates & restarts QE, but Draghi’s hints that monetary policy is at its limits push euro higher Stocks soar, havens drop on reports of a ‘limited’ US-China trade deal US retail sales today may be crucial for whether Fed delivers a ‘hawkish rate cut’ next week Euro rides the ECB rollercoaster, ends higher […]

NZDUSD managed to tick above the 200-period simple moving average (SMA) in the four-hour chart for the first time since July but the bulls were soon rejected around 0.6449, with the price resuming its weekly neutral status. While the RSI is pushing efforts to return above its 50 neutral-mark, the falling MACD and the convergence […]

NZDUSD managed to tick above the 200-period simple moving average (SMA) in the four-hour chart for the first time since July but the bulls were soon rejected around 0.6449, with the price resuming its weekly neutral status. While the RSI is pushing efforts to return above its 50 neutral-mark, the falling MACD and the convergence […]

The character of the stock market can change rapidly. That’s why it’s important to stay on top of the unfolding Elliott wave pattern and other market indicators. For example, one key indicator has just undergone a “swift reversal,” as this chart shows … Subscribe to Elliott Wave International’s YouTube Channel: http://bit.ly/EWI-YouTube Or, follow Elliott Wave […]

Japans’ 225 stock index returned to the levels where losses began one-and-a-half-months ago. The index plotted gains starting on September 2, after intensely rallying out of a sideways market that commenced on August 6. Despite the upward slopes in the 50- and 100-period simple moving averages (SMAs) -reflecting a positive bigger picture-, as well as […]

WTI oil futures for October delivery saw volatility drying up within the boundaries of a symmetrical triangle over the past four months. Any breakout at the lines of the triangle could determine the directional bias, though since the RSI and the MACD keep fluctuating around neutral levels, the current consolidation phase is likely to continue for now. […]

Commodity-driven currencies such as the Australian, New Zealand and Canadian dollars are enjoying a bit of a reprieve from an extended sell-off as rekindled hopes of a US-China trade deal and increased stimulus around the world have energized the struggling currencies. But despite early indications that the upcoming trade talks may actually produce substantive progress, […]

GER30 stock index had two constructive weeks and is completing another one above the Ichimoku cloud and its simple moving averages (SMAs) in the daily chart. Technically, the market may run for more gains in the short-term as the MACD and the RSI strengthen to the upside in the positive area. The latter, however, should […]

USDJPY rallied through the 21- and 42-day simple moving averages (SMAs), as well as the 107.50 resistance, which is the 38.2% Fibonacci retracement level of the down move from 112.39 to 104.45. The move up started on September 3, ending a three-week consolidation period and propelling the price up to the 100-day SMA. In an […]

ECB decision today – euro reaction to hinge on size of stimulus package Trade fears recede after US and China extend olive branches – stocks soar Oil prices dive as Trump considers easing Iran sanctions ECB meeting: Is ‘Super Mario’ coming with a bazooka or a toy gun? The much-anticipated ECB meeting concludes today at […]

GBPJPY has successfully overcome the upward resistance line drawn from May’s peak of 146.49 and rallied above the 50-day simple moving average (SMA) to test the 133.00 mark and the upper surface of the Ichimoku cloud after four months. The positive momentum in the MACD and the RSI reflects a strong bullish bias for the short-term. Yet, overbought […]

On July 26, Bearish breakdown below 1.2385 (Wedge-Pattern Key-Level) facilitated further bearish decline towards 1.2210 and 1.2100 which corresponded to significant key-levels on the Weekly chart. In Early August, another consolidation-range was temporarily established above 1.2100 before August 9 when temporary bearish movement was executed towards 1.2025 (Previous Weekly-Bottom). Recent bullish recovery was demonstrated off […]

In Mid-August, the EUR/USD has been trapped between 1.1235-1.1175 for a few trading sessions until bearish breakout below 1.1175 occurred on August 14. Bearish breakout below 1.1175 promoted further bearish decline towards 1.1075 where the backside of the broken bearish channel has provided temporary bullish demand for sometime (Bullish Triple-Bottom pattern). Bullish persistence above 1.1115 […]

GBP is in consolidation phase after the strong movement higher in the background and increasing momentum. Watch for potential long entries near the supports at 1.2325-1.2305 Green lines – Corrective downward channel I still do expect potential new wave up on the GBP due to strong movement up in the background. Selling near the support […]

Gold price is still holding above our key support at $1,480 and there is bullish divergence on the MACD oscillator in the background, which adds more potential to the upside. Blue horizontal lines – Important resistance levels and upward objective Yellow rectangle – major support area Green rising line – Expected path I still do […]

The news out of the United Kingdom is almost as volatile as the markets. Yet if we step back, we can see some order in the disarray. Watch to discover how a socionomic perspective allows us to understand Britain’s 2016 vote to leave the EU, the drama that has unfolded since and the prospects for […]