Market Impacts The market got off guard with the outcome of the UK referendum to leave European Union. One of the biggest casualties is Poundsterling which tumbled 8% on Friday last week, the biggest single day drop on record. The currency hit 31 year low and momentum and also technicals suggest more weakness is likely. Global equities, […]

Rally from 4/28 low is proposed complete at 0.9305 as wave (X). Short term, while pair stays below here, and more importantly below 0.9567, it has scope to continue the weekly decline lower to 0.79 area, or at minimum pair can start a larger 3 waves pullback to correct rally from 4/28 low. For more […]

Short term Elliottwave structure suggests cycle from 6/9 peak remains alive as a double three where wave W ended at 45.83 and bounce to 50.54 ended wave X. Wave Y lower is in progress with the internal as a double three where wave ((w)) ended at 45.83 and wave ((x)) bounce is proposed complete at 50. […]

Short term Elliottwave structure suggests cycle from 6/9 peak remains alive as a double three where wave W ended at 45.83 and bounce to 50.54 ended wave X. Wave Y lower is in progress with the internal as a double three where wave ((w)) ended at 45.83 and wave ((x)) bounce remains in progress as a […]

Short term Elliottwave structure suggests cycle from 6/9 peak remains alive as a double three where wave W ended at 45.83 and bounce to 50.54 ended wave X. Wave Y lower is in progress with the internal as a double three where wave ((w)) ended at 46.7 and wave ((x)) bounce ended at 48.45. Near term, […]

The pair spiked higher and now is showing a complete 7 swing sequence from 4/1 low. It has since pulled back again and still stay below the broken trend channel from June 2014 low. As far as pair stays below 1/27 peak at 4.158, pair can resume lower. For more trading ideas and education, feel free to […]