2023

AUDUSD falls back The Australian dollar softened after an uptick in December’s unemployment rate. A cut through 0.6940 has invalidated this demand zone, elbowing the bulls to the side. This left a shooting star on the daily chart,…
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After months of inflation coming in way above the Fed's target, the latest releases show a different trend. US monthly CPI figures for December showed a drop in prices, largely aided by energy prices. Yesterday, producer prices came in much…
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In the long term, the EURUSD currency is expected to form a bearish cycle impulse consisting of sub-waves I-II-III-IV-V. Most likely, the market is in a bullish correction wave IV. This complex correction is like a triple zigzag…
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USDJPY gives up gains The Japanese yen tumbled after the BoJ shattered hopes that it would wind down its stimulus policy. Still the dollar’s short-lived surge turned south at a previous demand zone around 131.50 which coincides with…
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The Euro was underperforming yesterday after press reports that the ECB was planning to hike by 25bps in March. That's quite a long time away, and it's just a rumor. But it could have an outsized impact on the shared currency for a couple…
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The BoJ maintained its stance on interest rates as many Yen pairs jumped in the early session. Over in the UK, inflation is still heightened as the cost of living remains close to a 40-year high. Inflation fell to 10.5% in the year to…
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XAGUSD suggests the formation of a global triple zigzag consisting of cycle waves w-x-y-x-z. The current chart shows the second intervening wave x which could soon end. This could take the form of a double zigzag of the primary…
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USDCAD builds base The Canadian dollar steadied after inflation eased more than expected in December. From the daily chart’s perspective, the pair is still in a prolonged consolidation between 1.3230 and 1.3800. A bounce off the daily…
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