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Forex
USDCAD 1.246 To Complete Bearish Trend
The current USDCAD structure hints at the formation of a large triple Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ zigzag.
The bearish wave Ⓩ forms an intermediate (A)-(B)-(C) zigzag. Impulse wave (A) and the bullish zigzag correction (B) are have ended, whereas impulse…
GBPUSD Advances Higher Again, but Can it Hold the Gains?
The British pound sterling posted a strong reversal snapping a two-day losing streak. Price action was bullish as it broke past the previous highs near 1.3950.
On an intraday basis, the GBPUSD rose to highs of 1.3985 before giving back…
Euro Attempts to Pare Losses
The euro currency is making a solid recovery, in a bid to recoup the losses from Wednesday.
Price action is posting a reversal after it broke out from the long term daily trendline for the second time.
However, the current pace of…
Euro Weakens to a Seven-Day Low
The euro currency is accelerating the pace of declines comparing to the previous few days. On an intraday basis, the euro slipped to a seven session low before recovering slightly.
The declines come as the EURUSD has now breached the…
GBPUSD Slips But Upside Remains Intact
The British pound sterling continues to post steady gains. Price action was seen trading a bit weaker after testing highs of 1.3951 on Tuesday.
But a quick recovery from the intraday lows is keeping the upside bias intact.
Further…
Euro Gives Back Intraday Gains
The euro currency rose to a four-week high after GDP numbers came out better than forecast.
But price action soon gave back the gains as the resistance level proved too hard to breach.
Price action briefly rose past 1.2144 before…
GBPUSD on Track to Retest 1.3590
The GBPUSD currency pair is giving back the gains made from the previous day with prices turning lower.
On the intraday charts, we see prices trading currently below the 1.3821 swing low. A confirmed daily close below this level could…
GBPUSD Cycle Triangle Completion Near 1.410
The GBPUSD global wave e which is part of a cycle triangle, consists of an Ⓐ-Ⓑ-Ⓒ zigzag.
Currently, impulse wave Ⓒ of the primary degree has begun, as part of the fifth wave of the intermediate degree.
Minor correction wave 4 has…
GBPUSD Pushes Higher but Gives Back Gains
The British pound sterling continues to rise higher, marking a new high of 1.3866 intraday. But price action is pulling back after testing this level.
The Stochastics oscillator is firmly in the overbought levels supporting the upside…
GBPUSD Rises to a New Three-and-Half Year High
The British pound sterling continues to push higher with price action rising to a new three and a half year high. The gains come as the GBPUSD moves closer to the 1.3777 level.
Given that this level has served as support in the past, we…