AUDUSD short-term Elliott wave view suggests that the bounce to 0.7384 high ended intermediate wave (X) bounce. Down from there, the pair has broken to new lows already confirming the intermediate wave (Y) lower. Thus suggesting that the right side in the pair is to the downside. The decline to 0.7084 low unfolded in 5 […]

GBPUSD short-term Elliott Wave analysis suggests that the rally from 8/15/2018 low at 1.2660  to 1.3042 high ended Minor wave 1. The internals of that rally higher took place in 3 wave corrective sequence i.e double three thus suggesting that the pair can be doing a Leading diagonal structure. Up from 1.2660 low, the initial […]

Last Friday Australian Dollar dipped to a two-and-a-half-year low after it broke blow 71 US cents due to a rising US Dollar and escalation in US-China trade wars. The last time the Australian Dollar traded below 71 US cents was on February 2016. The currency fell out of favor after last week’s comment by President […]

The Elliott Wave Theory, as many traders know, was developed in the 1930′ and the main pattern is the 5 waves structure followed by 3 waves pullback. The Theory was developed based on The Dow Jones Index. Nowadays the Theory is used by traders to forecast any type of instruments like Stocks, Indices, Commodities, and Forex. In […]

EURJPY short-term Elliott wave view suggests that the decline to 124.87 low ended intermediate wave (2) pullback of a leading diagonal structure from 5/29/2018 cycle. Above from there, the rally higher is taking place as Elliott wave zigzag structure within intermediate wave (3) of a diagonal. In a zigzag ABC structure, lesser degree cycles should […]

The Canadian Dollar strengthened to a two month high against US Dollar earlier this week. Market participants seem to bet on possible inclusion of Canada in a new Nafta pact. The U.S. has just concluded a successful bilateral talk with Mexico on Monday. Under the new agreement, cars need to have 75% of their content […]