Short term Elliottwave structure suggests that the cycle from 5/6 low has ended with wave (X) at 85.5. Decline from there is taking the form of a zigzag. Wave ((a)) of the zigzag is currently in progress as 5 waves diagonal where wave (i) ended at 84.13, wave (ii) ended at 84.85, wave (iii) ended at 83.28 and wave […]

  In the Daily view, the pair has met the minimum requirement for wave X bounce to complete. However, short term, while the pair stays above trend line channel and above wave ((x)) low at 3,767, ideally pair makes an extension higher towards 4.052 – 4.082 area to complete wave X before pair then resumes lower. For more trading […]

Short term Elliottwave structure suggests that dip to 82.88 on 5/24 ended wave X. Rally from there is unfolding as a double three where wave ((w)) ended at 85.17, wave ((x)) ended at 83.88, and wave ((y)) is in progress. Internal of wave ((y)) is also taking the form of a double three where wave (w) […]

US Dollar Outlook A string of interview with Federal Reserve members in the past two weeks suggest that interest rate hike is imminent. Last Friday, Federal Reserve Chair Janet Yellen also confirmed that the Fed should “probably” raise interest rate “in the coming months” if economic growth picks up and the labour market continues to improve. The U.S. Dollar surged higher after Ms. […]

Short term Elliottwave structure suggests that dip to 82.88 on 5/24 ended wave X. Rally from there is unfolding as a double three where wave ((w)) ended at 85.17, wave ((x)) ended at 83.88, and wave ((y)) is in progress. Internal of wave ((y)) is also taking the form of a double three where wave (w) […]

While pair stays above wave (W) low at 0.858, it has scope to extend another leg higher in wave Y of (X) towards 0.904 – 0.912 area to continue the correction of the cycle from 12/29/2015 peak. Afterwards, pair should resume the weekly move lower. For more trading ideas and education, feel free to browse other technical articles at our Technical Blogs, check Chart […]