EURCAD – Bearish below pivot   Whilst price trades within a potential bearish continuation pattern, it also allows plenty of room to trade back to the daily pivot before losses resume. With Euro data out tonight and NZD currently the strongest FX currency there is room for movement here, regardless of which direction. EURNZD – […]

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EURUSD is currently in a bearish squeeze and it looks like 3650-55 is selling zone. Traders were selling all week 3620 zone now its a switch to 3655 due to a bearish squeeze. If 3675 is not broken 3575 could be achieved intraday while profit taking tomorrow may lead to 3515-10. If 3515 fails then […]

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EURUSD remains in short term uptrend from 1.3512. Another rise to test 1.3676 resistance would likely be seen, a break above this level will signal completion of the longer term downtrend from 1.3993 (May 8 high), then next target would be at 1.3800 area. Near term support is at 1.3560, a breakdown below this level […]

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Despite the recent rally, the weekly candle closed in line with the opening of the year, an indication that the pair may not run far up away neither descend too much supported by the fact that the week is covered by inconsequential fundamental data. Following our previous EURUSD analysis, the 61% bullish entry of Fib […]

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Last Elliott wave analysis of Gold expected one more downwards wave of about $27 in length before the upwards trend resumed. This is not what happened. Movement above 1,284.99 invalidated the hourly wave count. Summary: Minor wave A may be close to completion. Upwards movement should continue to a target at 1,330.     Gold […]

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Yesterday, USD trading developed in a wait-and-see mode ahead of the Fed policy decision and the press conference. The dollar was under slight pressure for most of the day, especially against the euro. This 'trend' continued after the Fed decision. The Fed didn't disturb the calm. Interest rates will remain low for a considerable period […]

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The British Pound may give back some recent gains while the US Dollar corrects higher as May's UK and US inflation data crosses the wires. Talking Points: British Pound May Give Back Some Recent Gains if CPI Data Disappoints Upbeat US Inflation Data May Help US Dollar Correct Higher Pre-FOMC Aussie Dollar Fell as Minutes […]

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Comments by Bank of England Governor Mark Carney yesterday sent the market into a Pound buying frenzy. As usually happens with large impulsive movements, we often see a pull back. In this case, the EURGBP has touched the bottom of a bearish channel and is looking to consolidate. A short term play is on the […]

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EURUSD Lower lows, Is it an inconsequential pummel in the euro zone? We'd rather pay more attention to the euro board as it shows no less than new avalanches and abysses in the offing. Not only, we have recommended selling euro vs. commodities, but also we keep the eye on the weekly trendline that lies […]

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