2023

As a few weeks ago, XAGUSD suggests the construction of a global triple zigzag consisting of cycle waves w-x-y-x-z. The 1H timeframe shows the marking of the second intervening wave x, which may soon be completed, taking the form of…
Read More

USDCHF attempts to bounce The US dollar remains supported by Powell 's comment that rates will stay higher for a while. The choppy action on the daily chart is a sign of compression as both sides wrestle for the next major move. A…
Read More

Yesterday, markets see-sawed while Powell was speaking at the Economic Club in Washington. Risk appetite fluctuated, and the dollar shifted. Less noticed, but perhaps more indicative of the longer-term trends for the dollar and other…
Read More

It is assumed that a triple zigzag pattern is formed for gold in the long term. This consists of sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. Perhaps the first two sub-waves Ⓦ-Ⓧ have ended, and the third sub-wave Ⓨ is under development. The internal…
Read More

AUDUSD seeks support The Australian dollar recovered after a hawkish RBA hinted at further hikes. A drop below the daily support of 0.6870 has dented the optimism in the short-term. The four-month long rally could be in for a bit of…
Read More

Traditionally, the trade balance has been one of the major drivers in forex. But it has been largely overshadowed lately with action by central banks. That doesn't mean that capital flows aren't defined by the trade balance. And trade can…
Read More

The current DXY structure suggests we are at the end of a global corrective trend. This is in the form of a triple zigzag pattern Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. It seems that the sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ have ended. In the near future, the price…
Read More