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Tag Archives: forex signals

USD/JPY Stalls While Nikkei 225 Advances; One Trend Likely Reverses

After a series of smaller degree 1-2 Elliott Wave advances, the USD/JPY up trend has stalled at a resistance trend line. The wave picture previously painted is still technically bullish though the inability for USD/JPY accelerate higher is concerning. One thing is obvious, downward moves in USD/JPY are carving in three waves while larger advances are impulsive. This implies that regardless of what the near term Elliott Wave pattern is, the longer term pattern is bullish ...

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AUD/USD Technical Forecast: Sideways to Higher Trading

The structure of the technical pattern for AUD/USD suggests the move towards higher levels is incomplete and may eventually reach .82 and possible .84. Are you new to FX trading? This ebook was created just for you. The model we are following suggests the upward correction that began in September 2015 remains incomplete. According to Elliott Wave Theory, we are counting this pattern as a complex upward correction subdivided as w-x-y and built with Expanded ...

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DJIA Momentum Diverges From Price

Dow Jones Industrial Average is trying to finish the week on a higher note as it is up fractionally since last Friday. The DJIA is drifting higher for the past week, momentum oscillators and Elliott Wave models are flashing yellow lights. In our previous report we shared how a cluster of wave relationships and trend channels are converging near the current DJIA ...

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USD/JPY Advance May Kick off a New Uptrend

The advance by USD/JPY has kicked off what we believe to be a new uptrend. The Elliott Wave model we are following indicates this could be powerful wave higher that retests and possibly exceeds the 2015 high of 126. You can see from the daily chart below, USD/JPY advanced in five waves in late 2016. Since then and for all of calendar year 2017, USD/JPY has been correcting lower in a complex pattern. This w-x...

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GBP/USD Elliott Wave Pattern Clears Up

Today’s monster rise in GBP/USD clears up its technical pattern. From a big picture perspective, we have been anticipating a meaningful and long term top to form near the neighborhood of 1.3450. We previously wrote in our Q3 GBP forecast “our model suggests 1.3450 may be strong enough to contain prices over the coming quarter.” Today’s rise adds another wave relationship to the 1.3450 camp to make that level even stronger, should prices arrive there. 2 Grab our GBP Forecast...

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EUR/USD Faces a Volatile Week with ECB Thursday

EUR/USD has several signals flashing and it may be a volatile week for the pair as ECB hits the wires on Thursday. EUR/USD staged a reversal evidenced through an evening star candlestick formation on August 29. This pattern carved near the July 2012 low. As a result, it is a compelling pattern suggesting a correction lower may be imminent. Despite this pattern, EUR/USD traders continue to be bearish the pair since April 18. Though the level of bearishness ...

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EURUSD breaks the short term range and moving up.

EURUSD breaks the short term range on upside on the last week. According to the weekly view the price is still on a large range. Though on lower time frame the price is moving by maintaining bullish bias but we can’t say the bullish momentum is sufficient to maintain long term bullish bias until the break of the high of the larger range at 1.1713 which is the high of 2015. There is a support ...

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Dow Jones Industrial Average Tries for New All-Time Highs

Dow Jones Industrial Average (DJIA) has recovered well from the losses stemming from May 17. With DJIA printing above 21,078 late last week, it alters the pattern we were following some. Previously, we were looking for a small dip in price to offer a buying opportunity towards new highs. As we see below, the door is now opened for a slightly larger dip back towards 20,440. From an Elliott Wave perspective, we have the current wave higher labeled as wave (b)...

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Is GBP/USD Carving a 2017 Top?

Though GBP/USD has recovered some of last week’s losses, the pair continues to trade from the back of its foot. We have been anticipating a turn lower at a larger time frame for the past couple weeks because of the Elliott Wave model we are following. We could be on the forefront of larger losses for GBP/USD. The sentiment picture is more closely ...

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USD/CAD Appears to Resume a Longer Term Downtrend

In our previous article, we introduced the topic of the 12 month upward correction being over near the 1.38 high. So far, that high has held while USD/CAD is selling off in apparent impulsive fashion reaching our initial target of 1.3411. The Elliott Wave model suggests the downtrend is incomplete with more room to sell off. It appears from the model that USD/CAD may be in wave iii of (iii). Wave 3 tends to be ...

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