Today, more and more independent investors and traders are looking at charts and using technical indicators to make their decisions. They have come to realize that chasing news events, earnings announcements and economic reports might work sometimes,...
By Elliott Wave International If you’ve ever considered a major medical procedure, you likely know the importance of a second opinion. Even if your doctor or specialist is experienced and strongly recommends a certain course of action,...
USDCAD Analysis. USDCAD is facing the support of the lower line of the price channel on 4-hour chart, a clear break below the channel support will suggest that the trend from 0.9632 (Sep 14 low) has completed...
USDCAD Analysis. USDCAD breaks below 0.9980 support, suggesting that a cycle top has been formed at 1.0055 on 4-hour chart. Further decline would likely be seen, and next target would be at the lower line of the...
AUDUSD Analysis. AUDUSD bounces from 1.0287, suggesting that consolidation of the downtrend from 1.0480 is underway. Key resistance is located at the upper line of the price channel on 4-hour chart, as long as the trend line...
By Elliott Wave International (Part 1 of this article is posted here.) A Quick Road Map of Wave Analysis For this overview of wave analysis, I have borrowed from the "Cliffs Notes" version that we provide for...
EURUSD Analysis. EURUSD’s bounce from 1.2661 extends to as high as 1.2801, and is now facing the resistance of the upper line of the downward price channel on 4-hour chart. As long as the channel resistance holds,...
By Elliott Wave International Some of the best stories about global positioning systems (GPS’s) are the weird detours they sometimes recommend to drivers. Just like some of the weird detours that financial markets can make you take...
GBPUSD Analysis. GBPUSD continues its downward movement from 1.6174, and the fall extends to as low as 1.5836. Resistance remains at the downward trend line on 4-hour chart, as long as the trend line resistance holds, downtrend...
AUDUSD Analysis. AUDUSD stays in a upward price channel on 4-hour chart, and remains in uptrend from 1.0236, and the price action from 1.0480 is treated as consolidation of the uptrend. Support is located at the lower...
