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In this new interview with ElliottWaveTV, our Chief Market Analyst, Steve Hochberg, tells you about the key story from 2016 that most investors missed, discusses the “Trump Bump” — and explains what he’s watching closely right now. You’ll see what a critical market juncture we’re in and learn what to expect from stocks next. Get […]

Wave summary: We continue to look for a break above minor resistance at 1.4862 for a move closer to 1.4918 to complete wave i/ and set the stage for a minor correction to 1.4740; before the next and much stronger rally towards 1.5282 and 1.5764 on the way higher. In the long term, we are […]

Wave summary: The failure to rally above 121.33 has kept the minor correction alive and will likely course a minor spike to just below 120.22 before the next rally higher to above minor resistance at 121.33 and, more importantly, a break above 121.77 is seen. It confirms the rally higher towards 126.54 to complete wave […]

Wave summary: We are still looking for more upside here towards 1.4918 to complete wave [i] and set the stage for a minor correction back to 1.4695 from where a new strong rally is expected towards 1.5836 and possibly even higher. In the short term a break above minor resistance at 1.4791 will confirm the […]

GBP/CHF found strong support at 50-Moving Average that it has been rejecting for a number of times. It looks very much like an uptrend will continue at least to test 0% Fibs applied to the ascending channel breakout. Consider buying GBP/CHF on small pullbacks to target 0% Fibs (1.2908). Suggested stop loss is below 50-Moving […]

CAD/CHF continues to trade up and currently is above both 50- and 200-Moving Averages. Price broke above the descending channel where Fibonacci applied to the channel breakout point indicates that nearest target is 0.7622 which hasn’t been tested yet. If broken, CAD/CHF could go further up to test 0% Fibs (0.7795). Consider buying CAD/CHF on […]

Gold prices have turned bearish since the US presidential election date, as a result of the strengthening of the dollar, the mid-term major support line at 1200 was broken. The better-than-expected US economic figures on this Wed weighed on gold prices, and the support level at 1180 was broken. Yesterday the better-than-expected November US ISM […]

Since our previous analysis, gold has been moving sideways at the price of $1,171.00. Using the market profile on 30M time frame, I found yesterday’s point of control at the price of $1,167.00. Price is trading below 21SMA, which is a sign of weakness. Be careful when buying and watch for potential selling opportunities. The […]

Recently, EUR/NZD has been moving upwards. As I expected, the price tested the level of 1.5063 in a high volume. Anyway, using the market profile chart on 30M time frame, I found that buyers lost power near the price of 1.5063 and that buying at this stage looks risky. I found a breakout of the […]

On May 16, a bullish pullback towards 1.3000 (61.8% Fibonacci level) was expected to offer a valid signal to sell the USD/CAD pair. However, a lack of a significant bearish rejection was manifested during recent consolidations. On May 18, temporary bullish fixation above 1.3000 (61.8% Fibonacci level) opened the way towards the 1.3180 level where […]

As long as the NZD/USD pair continued trading above 0.6860, a further bullish advance was expected towards the upper limit of the depicted channel around 0.7400. During August and September, a consolidation range was established from the price level of 0.7250 up to 0.7350. Later on October 20, the lower limit of the consolidation range […]

The price zone between 1.3845 and 1.3550 (historical bottoms set in January 2009) was considered a significant demand zone to be watched for a bullish recovery. However, by the end of June a significant bearish break below 1.3550 was expressed as seen on the depicted charts (fundamental reasons). Persistence below the demand level at 1.3550 […]

In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 where historical bottoms were previously set in July 2012 and June 2010. Hence, a long-term bearish target was projected towards 0.9450. In March 2015, the EUR/USD bears challenged the monthly demand level around 1.0570 which had been previously reached in August […]

Global macro overview for 02/12/2016: The manufacturing PMI data from the UK were released yesterday and they fell short of the market expectations. The index unexpectedly fell to 53.4 in November, while market participants expected the score of 54.4 points after the previous 52.2 figure. Nevertheless, the rate of expansion is still “solid” according to […]

General overview for 02/12/2016: The bottom for the wave c (green) moved a little lower to the level of 1.3286. That means the wave a (blue) has been completed as well. The level of 1.3355 is now acting as an intraday resistance, so if the count is correct, the market will move higher towards the […]

General overview for 02/12/2016: The impulsive cycle in wave (iii) (green) is completed, so now a larger correction in wave (iv) (green) is anticipated. The pattern anticipated in wave four is a triangle, but the correction might evolve into more complex structure. No signs of any kind of a trend reversal yet as there is […]

Price is seeing major resistance at 1.2685 (Fibonacci projection, horizontal pullback resistance, previous swing high, Fibonacci retracement) and we expect a drop from this level towards 1.2303. Stochastic (21,5,3) is seeing major resistance at 94% where we expect a drop from. RSI (34) is seeing major resistance at 70% where we expect a similar drop […]

The Dollar index is weakening and testing short-term support at 100.70. With NFP numbers announced today traders should be very cautious as if the economy beats the market expectations we could have the much anticipated third drive higher towards 102.50 to complete the upward cycle. Blue line – support trend line The Dollar index has […]

It’s not bee the economy that has been driving the dollar over the past 3 weeks, of that we can be pretty sure. Rather, it’s been expectations of tax cuts and spending increases, together with incentives for dollar repatriation under the new President. As such, there is a case to say that today’s payrolls numbers […]

Gold remains in a bottoming process and inside the bearish short-term channel, without any confirmation yet of a trend reversal. Could the NFP numbers announced today be the reason to start the reversal? Maybe, either way Gold bulls need to be patient. Black lines – bearish channel Gold price bounced off the lower channel boundary. […]

GBP rallied 1% against the USD yesterday and almost reached a three-month high against the EUR after British Brexit Minister David Davis indicated that London would consider paying for access to European markets after Brexit. The pound rose as much as 1.6% to a three-week high against the dollar at $1.2696. The euro rose 0.7% […]

Wave summary: The ending diagonal can be completed with the new low at 1.4801 but to confirm that, a break above the minor resistance at 1.5094 and more importantly a break above a resistance at 1.5121 will be needed. As long as the minor resistance at 1.5094 caps the upside, the possibility of one more […]

Wave summary: A test of the pitchfork resistance-line near 121.95 is now being seen. This is close to the (iv) top at 122.00 seen on June 23. Ideally a small spike just above 122.00 will be seen, but we have entered an area, from where a wave (iv) correction towards at least 119.76 and more […]

Mercedes Pantazi, Customer Support Manager, easyMarkets The holiday season is upon us! Whether the financial markets have been naughty or nice to you this year, we’ve decided to make a list (and check it twice) of instruments that traders probably want to see under the Christmas tree. Gold Who can say no to this good […]