Short term Elliottwave structure suggests rally to 9218.68 ended wave ((4)) and the Index has resumed lower. Wave W decline from 9218.68 is unfolding as a double correction where wave ((w)) ended at 8783.4, wave ((x)) ended at 9138.8, and wave ((y)) of W is in progress towards 8676.12 – 8746.74 area. Once wave W is complete, […]

Short term Elliottwave structure suggests dips to 84.15 ended wave ((w)) and wave ((x)) bounce is proposed complete at 86.3 as a double correction. From 86.3 wave ((x)) high, pair has resumed lower with wave (w) ended at 84.54 and wave (x) bounce is currently in progress towards 85.82 – 86 area before the decline resumes […]

In our past article “US Dollar Outlook into FOMC Meeting on March 16“, we argue that the Fed is likely going to stay put and temper the rate hike expectation and this action should cause U.S. Dollar weakness. It happened as expected with the Fed last Wednesday lowers the median 2016 dot to two hikes from four hikes. The Fed cited […]

Revised short term Elliottwave structure suggests dips to 84.15 ended wave ((w)). Wave ((x)) bounce from there is unfolding as a triangle where wave ((a)) ended at 86.29, wave ((b)) ended at 84.92, and wave ((c)) is currently in progress. Pair is expected to do sideways movement and consolidate in the triangle while wave ((a)) at 86.294 needs […]

Short term Elliottwave structure suggests dips to 84.15 ended wave ((x)). Rally from there is unfolding in a double correction where wave (w) ended at 86.22, and wave (x) ended at 84.78. Near term, wave x pullback is in progress with an ideal target of 85.3 – 85.5 (50 – 61.8 back of the rally from 84.78), […]

Short term Elliottwave structure suggests dips to 35.98 on March 15 ended second wave ((X)). Rally from there is unfolding in a zigzag structure where wave (A) ended at 41.2, wave (B) ended at 38.62, and wave (C) is in progress higher as 5 waves. While pullbacks stay above 38.62, Oil is expected to continue higher in wave […]