To open long positions on GBP/USD, you need: The pound collapsed after the Prime Minister announced a possible suspension of the UK Parliament, which is a kind of response to yesterday’s meeting of the opposition in an attempt to prevent uncontrolled Brexit. Buyers managed to keep the pair only in the support area of 1.2158, […]

To open long positions on EURUSD, you need: The released data on the decline in German import prices and the fall in lending to the private sector of the eurozone put pressure on the European currency in the morning, which remained to trade near the support level of 1.1086, which I drew attention to in […]

EURUSD remains below key resistance levels and continues to make lower lows and lower highs. Trend remains bearish despite the warning bullish divergence signs from RSI. No reversal signal yet. Blue line – major resistance trend line Green rectangle – support area Red rectangle – target are if support area fails to hold price EURUSD […]

CADJPY is being capped by the 20-day moving average (MA), having rebounded from Monday’s 7½-month low of 78.48. Prices are currently hovering around the 23.6% Fibonacci retracement of the July-August downleg at 79.60. But the next move could be in either direction as the momentum indicators are giving mixed signals. The stochastic oscillator is pointing […]

Trade policy is not the Fed’s responsibility, but inflation definitely is, and the US central bank will act appropriately to elevate its favorite price measure back to its target. On Friday at 1230 GMT, July’s core PCE index will likely call for further monetary easing. The dollar, though, may shrug off the data and keep the focus […]

Gold price has formed a bullish cup with handle pattern. Breaking above $1,547 could push price between $1,565 and $1,580. As long as Gold price holds above $1,530-25 area short-term trend remains bullish. Blue triangle – cup with handle Red rectangle -target area Gold price is near its recent highs and continues to make higher […]

Wave C likely finished as an ending diagonal pattern, that’s why there’s an upward impulse, which supposed to be wave (i). In this case, the following decline is wave (ii), so there’s an opportunity to have a third-wave rally. As you can see, there’s a smaller upward impulse, which is probably the first wave of […]

The recommendations of leading banks such as RBC, Scotiabank, and Citigroup, regarding the USD/CAD pair, come down to one thing -the purchase of Canadian currency. Financial experts advise gaining long positions in this tool. A number of analysts believe that in the near future the Bank of Canada may move to monetary policy easing. The […]

The market is consolidating under the Super Trend Lines. Previously, the price couldn’t reach 2/8 Murrey Math Level, that’s why the pair has bounced towards the Daily Super Trend Line, which acted as resistance. 4/8 MM Level hasn’t performed as support, so the price is approaching 3/8 MM Level. If there’s a pullback from this […]

Silver has been in a three-month rally from May 28. The metal surpassed the highs from the first months of 2018 as well as the 18.00 psychological number. The bulls continue to dominate, something also signaled by the momentum indicators’ bullish demeanor. The MACD is rising and distancing itself from its red trigger line in […]

Canada will publish GDP growth numbers for the second quarter on Friday at 12:30 GMT. After a recent run of stronger-than-anticipated releases, the growth figures are not expected to buck the trend and should confirm the healthy state of the economy right now. However, with markets panicking about the fallout of the US-China trade war, […]

Canada will publish GDP growth numbers for the second quarter on Friday at 12:30 GMT. After a recent run of stronger-than-anticipated releases, the growth figures are not expected to buck the trend and should confirm the healthy state of the economy right now. However, with markets panicking about the fallout of the US-China trade war, […]

AUDUSD has endured a 20-day trading range with upper boundary of 0.6820 and a lower boundary of 0.6734. The bears seem to be in control, keeping the price closer to the lower boundary, but have yet to close below it. It is worth mentioning that the Tenkan-sen has declined, distancing itself from the Kijun-sen, tilting […]

Yen and gold advance, stocks retreat as recession worries intensify Pound recovers as no-deal Brexit risks recedes, but outlook still negative Oil jumps after massive inventory drawdown – official EIA figures due today Wall Street retreats as recession fears deepen A mild risk-off tone swept through global markets on Tuesday, with American stocks closing modestly […]

GBPJPY sat on the sidelines after confirming the start of an uptrend by creating a higher low at 127.45 and a higher high at 130.68 in the four-hour chart. The pair is likely to stay uneventful in the short-term as the RSI and the Ichimoku indicators are flattening and the MACD is rising slowly. However, the fact […]

Could you have spotted the August reversal in stocks — before it happened? Only the hindsight is 20/20, of course — but even so, there are tools you can employ to spot trend reversals with high confidence. Learn How the Wave Principle Can Improve Your Trading

The DJIA‘s trading volume has just done something that rarely happens. Indeed, it’s only the third time it’s occurred since 1987. If you’re not a subscriber, you can find out exactly what this suggests for stocks in the immediate weeks ahead via “U.S. Markets Free Week.” Subscribe to Elliott Wave International’s YouTube Channel: http://bit.ly/EWI-YouTube Or, […]

EURTRY has been in an uptrend after the double bottom which occurred in the first ten days of August. The rally stretched the pair north near the area of the gap from July 1. Following a flash crash the price peaked at 6.7059, where the sellers dominated pulling price back down to previous levels. The […]

GBPAUD rose over the last month and breached the 100- and 200-day simple moving averages (SMAs) to peak at 1.8335 on Monday. The sellers, however, came soon on board, managing to pull the price back below. Buyers are again looking for a move higher now, something also reflected by the momentum indicators. The MACD distanced […]

The ever-escalating trade conflict between Washington and Beijing has left deep scars on the aussie, both directly by clouding the outlook for Australia’s export-heavy economy and indirectly by making the RBA slash rates twice this year already. The nation’s capital expenditure data for Q2 may distract investors on Thursday at 01:30 GMT, but the bigger […]

Copper futures for December delivery softened under a well-established support area of 2.5300 (since 2017), extending the downward pattern to a new two-year low of 2.4952. Technically, the market could stay under pressure in the short-term as long as the MACD holds in negative area and under its red signal line, with the bearish RSI endorsing the view […]

Copper futures for December delivery softened under a well-established support area of 2.5300 (since 2017), extending the downward pattern to a new two-year low of 2.4952. Technically, the market could stay under pressure in the short-term as long as the MACD holds in negative area and under its red signal line, with the bearish RSI endorsing the view […]

GBPUSD sellers pushed the price below the 1.2288 barrier this week, which is the 23.6% Fibonacci retracement level of the down leg from 1.3176 to 1.2014. The MACD has further distanced itself above its red trigger line in the negative territory, but seems to be starting to flatten, so some caution cannot be ruled out […]

Markets recover as Trump strikes a conciliatory tone, but reality sinks in Further trade escalation seems imminent, so risk aversion may linger In the UK, opposition lawmakers will meet to avert a no-deal Brexit Risk sentiment in ‘no-man’s land’ as markets digest conflicting signals Global risk appetite recovered on Monday, following some encouraging signals on […]

Markets recover as Trump strikes a conciliatory tone, but reality sinks in Further trade escalation seems imminent, so risk aversion may linger In the UK, opposition lawmakers will meet to avert a no-deal Brexit Risk sentiment in ‘no-man’s land’ as markets digest conflicting signals Global risk appetite recovered on Monday, following some encouraging signals on […]