Forex

NZDUSD seems to be developing a bearish Ⓐ-Ⓑ-Ⓒ zigzag of the primary degree. Wave A formed a 5-wave impulse pattern, whereas wave Ⓑ seems incomplete. Its current structure suggests a standard zigzag consisting of intermediate sub-waves… Read More

The British pound continues to maintain its bullish stance. Price action rose to a five-week high, on the back of a weaker dollar. The next main resistance is at 1.2589 which could put the temporary gains on hold for the moment. This… Read More

The euro currency is posting a strong recovery with price action rising to a three-month high. This comes as prices break past the key level of 1.1132. Further gains could see this price level turning to support. Therefore, a pullback… Read More

Former President Barack Obama recently broke precedent when he came out with public political commentary. Of course, the argument can be made that the current situation is unprecedented, and most leaders are working in uncharted territory.… Read More

There have been arguments that the euro is set to get stronger in comparison to other currencies (especially the dollar and pound) in the medium term. The key fundamental reason given for this is that Europe is exiting lockdowns sooner.… Read More

Falling shares in Hong Kong drove the Hang Seng index to a 3-month low of 22500 this morning. With prices bouncing off of the multiyear trendline support TS1, a rebound is likely. The trendline connects the Oct '08 and Fed '16 lows at… Read More

The USDCNH structure shows a bullish trend consisting of waves ①-②-③-④-⑤. The first four parts of the primary degree pattern appear to be fully complete. After wave ④ completed in a triangle correction, we saw the pair start to rise… Read More

The GBPJPY structure shows a primary complex pattern consisting of an (A)-(B)-(C) standard zigzag. Wave (A) is a 5-wave bullish impulse, and wave (B) a double zigzag consisting of minor sub-waves W-X-Y. Wave (C) is currently under… Read More

There have been a number of different stimulus programs announced to deal with the economic fallout of COVID-19. And they can get quite confusing. Especially when we consider that each country, and often parts of countries, have their… Read More

The 2-hour chart of CADCHF shows that the pair has been trading within an ascending channel since March 19. Despite trading within the lower end of the regression channel, it remains above the trendline resistance TR1 (now support). And… Read More