Reserve Bank of Australia (RBA) made a surprise cut of 25 bps earlier today, taking the interest rate to a record low of 1.75%. Before the meeting, analysts have put the probability of a rate cut as much as 50-50 after the dismal figure of CPI last Tuesday April 26. The CPI report last week showed that […]

Bank of Japan (BOJ) did not take any further easing action on Thursday (April 28) monetary policy meeting, sending Yen soaring more than 3% against the U.S. dollar and Nikkei tumbling 3.6%. Coming into the meeting, expectation by market participants was very high that BOJ would take further actions considering that Yen has strengthened for much of 2016, hitting the strongest […]

Short term Elliottwave structure suggests that cycle from 4/7 low (81.7) remains alive as a triple three where wave W ended at 85.7 on 4/13, wave X ended at 83.07 on 4/18, wave Y ended at 88.37 on 4/25, and 2nd wave X pullback is proposed complete at 87.28 on 4/26.  Near term, while dips stay above 87.28, pair is favored […]

Short term Elliottwave structure suggests that cycle from 4/7 low remains in progress as a triple three where wave W ended at 85.7 (4/13 high), wave X ended at 83.07 (4/18 low), and wave Y is proposed complete at 88.37 (4/23 high). Second wave X pullback is in progress to correct the rally from wave X low […]

Short term Elliottwave structure suggests dip to 107.73 ended wave X. Rally from there is unfolding as a double three structure where wave ((w)) flat ended at 109.48,  wave ((x)) pullback ended at 108.74, and pair has resumed the rally higher in wave ((y)) of Y towards 110.5 – 110.9 area. Near term, while wave b pullback […]

Short term Elliottwave structure suggests that dip to 107.73 ended wave X. Rally from there is unfolding as a double three structure where wave ((w)) flat ended at 109.48,  wave ((x)) pullback ended at 108.74, and pair has resumed the rally higher in wave ((y)) of Y towards 110.5 – 110.9 area. Near term, while wave […]