The just-published May Theorist maps out the “only valid option” for the long-term wave count allowed under a strict interpretation of the current wave structure. It shows the likely path from now until the year 2021 and includes specific price targets. Such big-picture updates from Prechter are very rare. When they come, they provide new […]

On January 10th, the market initiated the depicted bearish channel around 1.1570. Since then, the EURUSD pair has been moving within the depicted channel with slight bearish tendency. On March 7th, recent bearish movement was demonstrated towards 1.1175 (channel’s lower limit) where significant bullish recovery was demonstrated. On March 18, a significant bullish attempt was […]

On January 10th, the market initiated the depicted bearish channel around 1.1570. Since then, the EURUSD pair has been moving within the depicted channel with slight bearish tendency. On March 7th, recent bearish movement was demonstrated towards 1.1175 (channel’s lower limit) where significant bullish recovery was demonstrated. On March 18, a significant bullish attempt was […]

On January 2nd, the market initiated the depicted uptrend line around 1.2380. On March 11, a weekly bearish gap pushed the pair below the uptrend line (almost reaching 1.2960) before the bullish breakout above short-term bearish channel was achieved. Shortly after, the GBPUSD pair demonstrated weak bullish momentum towards 1.3200 then 1.3360 where the GBPUSD […]

On January 2nd, the market initiated the depicted uptrend line around 1.2380. On March 11, a weekly bearish gap pushed the pair below the uptrend line (almost reaching 1.2960) before the bullish breakout above short-term bearish channel was achieved. Shortly after, the GBPUSD pair demonstrated weak bullish momentum towards 1.3200 then 1.3360 where the GBPUSD […]

BTC did sold off from the key resistance line (upper diagonal of the channel). BTC did test the level of $4.920 and there is potential for more downside and potential test of $4.650. Red lines -upward overbought channel White horizontal line – key support trendline BTC sold off strongly and it stopped at the lower […]

Gold has been reacting from bullish divergence on loosing momentum on the downside. The momentum is strong on the upside and we are advising you to watch only for buying opportunities. Green rectangle – Short-term resistance, which became key support Orange rectangle – Resistance based on price action Red rectangle – Resistance 2 based on […]

USDJPY has created fake breakout of the resistance 112.13 ins the background plus a bearish divergence, which are signs that buyers lost momentum and sellers started to distribute positions. We expect further downside. Upward redline – major support trendline (broken) White line – bearish divergence Green rectangle – decision level support (broken) USD/JPY is trading […]

4-hour timeframe The amplitude of the last 5 days (high-low): 29p – 23p – 91p – 76p – 51p. Average amplitude for the last 5 days: 54p (59p). On Friday, April 26, the British pound also began to adjust, yet at the same time, the volatility of the instrument dropped significantly. Thus, we can expect […]

Now the dollar will not hold anything! In the first quarter, US economic growth accelerated. The GDP grew by 3.2 percent year on year, as reported by the Ministry of Commerce. Growth was spurred by increased public investment, which offset a sharp slowdown in consumer and commercial spending. The report should allay concerns about the […]

4-hour timeframe The amplitude of the last 5 days (high-low): 19p – 27p – 69p – 84p – 45p. Average amplitude over the last 5 days: 45p (55p). As we expected in the morning review, the EUR/USD currency pair began to adjust at trading on Friday, April 26. So far, the correction is very weak, […]

Overview: The GBP/USD pair continues to move upwards from the level of 1.3087. Last week, the pair rose from the level of 1.3087 to a top around 1.3201 but it rebounded to set around the spot of 1.3140. Today, the first resistance level is seen at 1.3206 followed by 1.3268 , while daily support 1 […]

To open long positions on the GBP / USD pair, you need: Pound buyers cannot find a good level of support from which an upward correction could be built. At the moment, the task of the bulls is to breakdown and consolidate above the resistance of 1.2900, which will lead to an increase in the […]

To open long positions on EUR / USD pair, you need: The euro buyers returned to the market as expected after the support level of 1.1122 was updated, which I paid attention to in my morning forecast. At the moment, the main task of the bulls will be a breakthrough and consolidation above the resistance […]

In recent days, a strong US dollar has set the tone for the foreign exchange market. The USD index reached its maximum this week for the first time in 23 months. According to experts, the growth of the US currency against its main competitors in the G10 was made possible, thanks to a significant change […]

According to Bloomberg, world trade is declining at a rapid pace over the past 11 years since the 2008 financial crisis. The slowdown of the global economy is getting more and more evident, experts say. Between December 2018 and February 2019, the decline in world trade was almost 2%. The last time such a sharp […]

The future of the single European currency remains extremely uncertain. Slowing economic growth in the eurozone against the background of general uncertainty, which has not disappeared anywhere from the markets but only increases more and more. It may cause the ECB to resume asset buying under the name of quantitative easing (QE). On Thursday, ECB […]

Overview: The NZD/USD pair is showing signs of weakness following a breakout of the lowest level of 0.6648. On the H1 chart. the level of 0.6648 coincides with 23.6% of Fibonacci, which is expected to act as minor support today. Since the trend is below the 23.6% Fibonacci level, the market is still in a […]

The big picture: There is a downtrend signal for the EUR/USD pair. Orders for durable goods in the USA came out unexpectedly strong at +2.7%. This caused a new drop in the euro against the dollar. Technically, the euro is ready for a big fall after a six-month treading in the range of 1.1200-1.1500 up […]

Overview: The AUD/USD pair is set above strong support at the levels of 0.7046 and 0.7168. This support has been rejected four times confirming the uptrend. The major support is seen at the level of 0.7046, because the trend is still showing strength above it. Accordingly, the pair is still in the uptrend in the […]

Overview: The AUD/USD pair is set above strong support at the levels of 0.7046 and 0.7168. This support has been rejected four times confirming the uptrend. The major support is seen at the level of 0.7046, because the trend is still showing strength above it. Accordingly, the pair is still in the uptrend in the […]

Bitcoin pushed impulsively lower after the price had been rejected off the $5,500 resistance area recently. The price bounced back immediately but it is currently stalling between the support levels from $5,200 to 250. Sudden impulsive bearish momentum in Bitcoin after breaching above $5,500 came as a surprise to most investors and analysts. The rally […]

Wave counting analysis: On April 25, the GBP / USD pair fell by only a few base points and, thus, remained within the framework as part of the construction of the downward trend section and its estimated wave 3. The exit from the triangle clearly marked the trend of the instrument for the coming weeks. […]

Wave counting analysis: On Thursday, April 25, trading ended for EUR / USD by another 20 bp decline. Thus, the conclusion about the continuation of the construction of a downward wave 3, in 3 with targets located near the levels of 161.8% and 200.0% of Fibonacci. If the current wave counting is correct, then the […]

EURUSD has reached the lower boundary of the long-term wedge pattern at 1.1115 and price is bouncing. Trend remains bearish. Price remains inside the longer-term downward sloping wedge pattern. A short-term bounce towards 1.12 is possible for today. Black line – major resistance trend line Red line – support trend line Blue line – short-term […]