2023

The current chart shows that NZDUSD in the long term could form a corrective zigzag pattern consisting of primary waves Ⓐ-Ⓑ-Ⓒ. The first impulse wave Ⓐ has ended. A bearish correction wave Ⓑ is under development which is similar to a…
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GBPJPY bounces back The Japanese yen softened as the new BoJ governor Ueda pledged to stick to the ultra-loose policy. The pound is probing the support-turned-resistance of 166.00 from last December’s sell-off, with a couple of…
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So far, the central banks of commodity currencies have been going in opposite directions. On the one side was the RBA, which kept rates steady despite high inflation. The Australian market was seen as more vulnerable to disruption from the…
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For the USDCAD currency pair, a triple zigzag with cycle waves w-x-y-x-z is emerging. At the time of writing, the final actionary sub-wave z is forming. This could be a primary double zigzag Ⓦ-Ⓧ-Ⓨ, where the sub-waves Ⓦ-Ⓧ are formed.…
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USDJPY attempts to bounce The US dollar strengthens as March’s jobs data shows solid fundamentals. The price action is at a crossroads on the daily chart, with a bearish MA cross suggesting an acceleration to the downside on the one…
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EURUSD rises on solid economic recovery The euro edges higher as sturdy fundamentals may allow the ECB to stay hawkish. Judging by the latest PMIs, business activity in the euro zone continues to recover, mostly across service…
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After coming back from parity late last year, the Euro has been steadily rising for months. As it's getting close to the technically significant 1.1000 handle, it's worth having a look at the fundamentals. Is there enough drive to push…
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We talked about the SPX500 index a few weeks ago. Today we see that the market continues to develop a major impulse consisting of sub-waves I-II-III-IV-V, or rather its final part. It is assumed that the cycle correction IV was…
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USDCAD struggles to bounce The Canadian dollar finds support from lower jobless rate in March. On the daily chart, the pair has found some support in the demand zone (1.3400) from the mid-February rally. A series of higher lows…
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