2022

AUDUSD seems to be forming a bearish triple Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ zigzag. At the time of writing, a bullish intervening wave Ⓧ is developing. This can take the form of an intermediate triple (W)-(X)-(Y)-(X)-(Z) zigzag. In the upcoming trading…
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USDCHF struggles for support The Swiss franc rallies as new sanctions against Russia trigger a flight to safety. The pair has met stiff resistance in the supply area (0.9290). Then a drop below 0.9220 and 0.9170 suggests that…
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As is customary, the first of the month brings an avalanche of data. And all of it is potentially market-moving. This time around, however, it could take a back seat given the contingency in Ukraine, and how the market reacts to the…
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The USDCNH pair could be forming a large horizontal correction wave ④ of the primary degree. This takes the form of an intermediate double three (W)-(X)-(Y). At the time of writing, we are in the final part of the intermediate…
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GBPUSD looks to steady The sterling recoups some losses as sentiment stabilizes after the initial fear-driven sell-off. A clean cut through the daily support at 1.3360 has triggered a wave of liquidation. Sentiment remains downbeat…
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AUDUSD struggles as sentiment worsens A deterioration in risk sentiment took a toll on the Australian dollar. War in Ukraine drove investors into safe havens and left riskier currencies such as the Aussie vulnerable. The sell-off…
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Stock markets have been on a roller coaster the last couple of days. That naturally bleeds over into currencies, as traders look to position their investments. On Thursday, European indices dropped by as much as 5.0%, but then opened up to…
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