2023

The USDCHF pair seems to be forming a triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The final wave Ⓩ is now under development. The wave Ⓩ can end in the form of a standard intermediate zigzag (A)-(B)-(C). Wave (A) is a 5-wave bearish impulse, wave (B)…
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EURUSD tests resistance The US dollar retreats as traders pull some chips off the table ahead of jobs data. On the daily chart, the pair is testing the critical level at the January low of 1.0500, where a bearish breakout would cause a…
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As anticipated, the nominee to succeed Kuroda at the head of the BOJ provided testimony before the parliament. There was a lot of anticipation ahead of the event, so see if and what policies might change. On Friday he spoke before the lower…
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It is assumed that USOIL can form a triple zigzag pattern Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ, where the primary waves Ⓦ-Ⓧ-Ⓨ seem to be fully completed. In the last section of the chart, we see growth within the ascending primary intervening wave Ⓧ. Perhaps…
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GBPUSD breaks lower The US dollar climbed after the PCE accelerated in January. On the daily chart, the pair is still probing bids near January’s low of 1.1850. The latest bounce came to a halt in the supply zone 1.2150 from the…
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EURUSD falls as US tightening goes on The euro falls back as the rate gap between both sides of the Atlantic remains significant. With falling energy prices, spring has kicked off with a sense of relief that Europe might have dodged…
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Gold prices have been falling all month, and it opens the question whether this is a new trend, or can we see a turn around? Well, the latest macro data from the US paints a somewhat gloomy picture for gold in the short term. But beyond…
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USDCNH seems to be forming a double zigzag w-x-y of a cycle degree. By the beginning of this month, the bearish intervening wave x has ended. This looks like a primary double zigzag Ⓦ-Ⓧ-Ⓨ. It is assumed that in the last section of…
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USDJPY test support The Japanese yen inched lower as January’s inflation missed expectations. On the daily chart, a bullish MA cross and a close above this year’s high of 134.40 indicate that sentiment could be turning around in the…
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