We have seen this price compression many times and frankly it offers two diametrically opposed outlooks. Considering the explosive nature of the third wave rally from 106 to 113, we suspect this momentum loss is taking shape as a rising wedge pattern. While it projects marginal new highs in the ... Leer más
The downside correction has been rather aggressive but has held the critical 1.5715 pivot point at the top of wave One. As this base holds we have to respect the uptrend potential to extend the rally to 1.5940 and even an attempt at the former 1.5995 peak. However, revert to ... Leer más
The Euro uptrend has been relentless in which I can only describe as an extended fifth wave. None-the-less as the 1.3500 pivot point now holds we would expect the rally to continue directly to the next 1.3690 resistance point. As this level contains, be wary of any breach of this ... Leer más
Technical Analysis or the study of price action provides valuable insight into the probable direction of Forex markets and offers Forex Signals with the use of Elliott Wave projections and pattern recognition....
As often mentioned in previous commentary, sharp countertrend moves usually serve as a base for complex consolidation before the resumption of trend. In this case the sharp decline yesterday to hold the 1.5715 pivot point appears to have set a base for triangle consolidation. That is likely to limit price ... Leer más
Patience with the bearish view for the Dollar has been rewarded with the upside failure at the start of the declining wedge pattern and tight downtrend resistance at the 85.95 level. As this strong counter trend recovery will likely serve as a base for a more complex corrective pattern, we ... Leer más
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