Short term Elliott wave count suggests that rally to 1342.26 ended wave ((x)). Decline from there is unfolding as a double three where wave (w) ended at 1318.2 and wave (x) ended at 1325.52. While near term bounce in wave x stays below 1325.52, expect Gold to turn lower in wave (y) of ((y)) towards 1291 […]

Fed Chairwoman Janet Yellen and other Fed members gave hawkish comments at Jackson Hole meeting last week, boosting the U.S. dollar against several currencies. Janet Yellen suggested that in light of the solid performance in the labor market, the case for an increase in federal funds rate has strengthened in recent months. However, she did not specifically say […]

Preferred Elliott wave count suggests that decline to 1.0384 on 8/26 ended wave X. While pair remains above the level, expect further upside to 1.0488 – 1.051 area to complete wave w before ending the cycle from 8/26 low. Afterwards, a pullback in wave x is expected to take place to correct the rally from 8/26 low […]

Preferred Elliott wave count suggests that rally to 78.79 ended wave X. Decline from there is unfolding as a double three where wave (w) is proposed complete at 77.31. Wave (x) bounce is currently in progress towards 78 – 78.15 area, then pair is expected to extend lower or at least pullback in 3 waves to correct rally […]