Short term Elliottwave structure suggests rally to 15.953 ended wave (3). Wave (4) pullback is unfolding as a double three structure where wave W ended at 15.1, wave X ended at 15.54, and silver has resumed lower in wave Y. Wave ((x)) bounce is now expected to fail below 15.54, but more importantly below 15.95, for another leg lower […]

In December 9, 2015, the Reserve Bank of New Zealand (RBNZ) delivered a cut to the Official Cash Rate (OCR) by 25 bps to 2.5% but surprisingly $NZD/USD rallied on that same day from 0.6565 to 0.6759 (2.9% daily range) before closing at 0.6713 (2.3% increase). In subsequent weeks, $NZD/USD continued to rally further to 0.688 before finally turning lower […]

Revised short term Elliottwave structure suggests decline to 125.74 ended wave W. Wave X bounce is unfolding as a triangle where wave ((a)) ended at 128.25, and wave ((b)) is in progress and expected to complete at 124.9 – 125.5 area before turning higher in wave ((c)).  We don’t like buying the proposed wave ((c)) bounce. […]

Gold (XAU) formed a peak against most major world currencies in 2011. This included XAUAUD, XAUUSD, XAUGBP and XAUCAD while XAUEUR peaked a little later in 2012. This was an important peak and resulted in a few years of downward price action in Gold against all major World currencies. Since December 2015, Gold has been rallying […]