Short term Elliott wave count suggests that rally to 79.13 ended wave X. Decline from there is unfolding as a double three where wave ((w)) ended at 75.95 and wave ((x)) bounce is proposed complete at 77.53. While bounces stay below there, and more importantly below 79.13, expect the pair to extend lower towards 73.6 – 74.35 area. […]

The latest US Consumer prices number last Friday rose by 1.1 percent year-on-year in August 2016, which is above the market consensus of a 1% rise. This number is the biggest inflation figure in 4 months. Annual core inflation, excluding food and energy, rose to 2.3%, also above market expectation of 2.2%. Although both numbers beat expectation, […]

Short term Elliott wave count suggests that rally to 79.12 ended wave X. Decline from there is unfolding as a double three where wave ((w)) ended at 75.95 and wave ((x)) bounce is currently in progress to correct the cycle from 9/6 (79.13) peak towards 77.6 – 78 area before the decline resumes. As far as pivot at 79.13 […]

Short term Elliott wave count suggests that rally to 79.12 ended wave X. Decline from there is unfolding as a double three where wave ((w)) ended at 75.95 and wave ((x)) bounce is currently in progress to correct the cycle from 9/6 (79.12) peak with potential target of 77.5 – 77.87 area before the decline resumes. As far as […]

Short term Elliott wave count suggests that rally to 104.33 ended wave W. Decline from there is unfolding as a double three where wave ((w)) ended at 101.18 and wave ((x)) ended at 103.35. Short term, while bounces stay below 103.35, and more importantly below 104.33, expect more downside towards 100.94 – 101.4 area initially, followed by 99.47 […]

$NZDCAD Daily chart is showing that the instrument has broken above ((W)) peak on 12/29/2015 at 0.9573, suggesting that further upside is favored. From 8/24/2015 low, the instrument is showing a 7 swing sequence but the 7th swing has not reached the target at 1.005 – 1.0276 area. Furthermore, rally from 8/19/2016 low is showing what looks to be a […]