USDX short-term Elliott Wave view suggests that the rally from 5/14 low 92.24 is extending higher as Elliott Wave Ending diagonal structure within Intermediate wave (5). Keep in mind that Ending Diagonal usually appears in sub-division of wave (5) of impulse or wave C of Zigzag or Flat. In Ending Diagonal, the internal distribution of […]

In this blog, I want to discuss the retreat in the COT Sentiment Net long position in the GBPUSD and what effects it can take. First off let me start explaining what the COT report is all about. The Commitments of Traders Report, short COT is a weekly market report which is issued by the Commodity Futures […]

GBPUSD Elliott wave view in short-term cycle suggests that the decline from 4/17/2018 high (1.4377) is unfolding as an impulse Elliott wave structure where bounce to 1.3607 high ended Intermediate wave (4). Down from there, intermediate wave (5) remains in progress as Elliott Wave ending diagonal structure. Ending diagonal usually appears in the sub-division of wave (5) of […]

We wrote in our previous article that Canadian dollar may get a bid if NAFTA (North America Free Trade Agreement) is successfully renegotiated. The three countries under NAFTA (U.S., Canada, and Mexico) are all under pressure to reach a deal soon. The reason is because of Mexico’s presidential election in July as well as US […]

USDCAD short-term Elliott Wave view suggests that the bounce to 1.2998 on 5/08 high ended primary wave ((2)). Below from there, primary wave ((3)) remains in progress as an Impulse Elliott Wave structure looking for more downside extension. In Impulse wave, the subdivision of wave 1, 3, and 5 is also an impulse structure of […]

USDJPY Short-term Elliott wave view suggests that the pullback to 108.62 on 5/04 low ended Minor degree wave 4. Above from there, the rally is unfolding as a 5 waves Elliott Wave structure, also known as Impulse. It’s important to note that the sub-division of Minor wave 1, 3 & 5 are also impulsive in […]