Defying many market participants that anticipate a fallout after the unexpected Brexit vote, many risk assets including stock markets and Yen pairs continue to show strength after a few days of pullback. U.S. Indices prove to be resilient and continue to make new all-time highs. The turning point in the sentiment seems to be right after Japanese Prime Minister Shinzo Abe won […]

Short term Elliottwave structure suggests rally to 82.53 ended wave (W). Decline from there is unfolding as a double correction where wave ((w)) ended at 80.67 and wave ((x)) ended at 82.15. While pair stays below 82.15, and more importantly as far as 82.53 pivot stays intact, expect pair to resume lower. Initial target lower for wave […]

Short term Elliottwave structure suggests cycle from 7/9 low is unfolding as a double three where wave W ended at 1.884 and wave X ended at 1.839. Rally from 1.839 is in progress as a double three where wave ((w)) is expected to complete at 1.894 – 1.9026 area, then it should pullback in wave ((x)) […]

Market Impacts The market got off guard with the outcome of the UK referendum to leave European Union. One of the biggest casualties is Poundsterling which tumbled 8% on Friday last week, the biggest single day drop on record. The currency hit 31 year low and momentum and also technicals suggest more weakness is likely. Global equities, […]

Short term Elliottwave structure suggests rally to 0.7504 ended wave ((w)), and pullback to 0.7283 ended wave ((x)). From 0.7283 low, pair ended wave (w) higher at 0.7512, and we take the more aggressive view and call wave (x) pullback completed at 0.7439 as pair has since broken above 0.7512 again. While pair now stays above wave (x) […]

One of the biggest risk events this year – the Euro referendum is finally here and the market will turn its focus on this event in the next few days. The referendum will take place on Thursday June 23rd from 7 am – 10 pm GMT or 2 am – 5 pm EST. All votes is expected to be finalized and counted by […]