The $AUDUSD chart below shows forecast from  February 19 2016.  It suggests the cycle from the 0.69693 short term low has not done to the upside yet, calling for further extension above the previous W high : 0.7242.  The pair ended first leg wave ((w)) of Y red at 0.7171 and now it’s showing very […]

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. […]

Revised short term Elliottwave structure suggests decline to 125.74 ended wave W. Up from this level, wave X bounce is unfolding in a double three structure where wave ((w)) ended at 128.17, wave ((x)) ended at 126.59 and wave ((y)) of X is in progress. Short term, while pair stays above 126.59, and more importantly above 125.74, […]

Short term Elliottwave structure suggests decline to 125.76 ended wave W. Up from this level, wave X bounce is unfolding in a double three structure where wave ((w)) ended at 127.87, wave ((x)) ended at 126.358 and wave ((y)) of X has ended at 128.14. Short term wave “b” bounce is now expected to fail below 128.14 […]

Short term Elliottwave structure suggests decline to 125.76 ended wave W. Up from this level, wave X bounce is unfolding in a double three structure where wave ((w)) ended at 127.87, wave ((x)) ended at 126.358 and wave ((y)) is in progress towards 128.48 – 128.98 area to complete wave X before pair turns lower again. […]