GBPJPY has been in recovery mode since it touched 139.90 on August 15th. On September 21st, the pair climbed to a multi-month high of 149.72, but fell to an intraday low of 146.51 yesterday. As of this writing, the Pound is hovering around 147.90 against the Japanese yen. The time is appropriate to apply the…
USDCAD Unreliable Resistance Identified in Advance
After slightly exceeding 1.3000 on October 8th, USDCAD retreated to 1.2926 two days later. Given that the pair has been declining since the 1.3386 top registered in late-June, assuming the bears are returning was quite justified. In addition, there was a declining trend line, which had previously led to significant selloffs on two separate occasions.…
USDJPY Gave Us a Road Map Three Months Ago
There is a reason why it is called “trading” and not “bottom/top picking”. The latter is literally impossible even with the best trading tools and techniques. Even the Elliott Wave Principle, which we consider to be the best method for price behavior analysis, cannot tell us the exact price level at which the market is…
SPX: Do Not Miss the Forest for a Tree (Like We Did)
The SPX plunged 95 points or 3.3% yesterday. In this article we will tell you about a mistake we made, namely missing the forest for the trees, so you do not make it yourself next time. The S&P 500 is included in our premium packages and subscribers receive updates on it before the market opens…
GBPCAD ‘s Rally Needs a Healthy Pullback
October is shaping up to be a good month for GBPCAD bulls. The pair dipped below 1.6600 on October 2nd, but quickly reversed to the upside for a recovery of over 470 pips so far. Earlier today the Pound climbed to as high as 1.7070 against the Canadian dollar. However, extrapolating the current trend into…
A Week of Trend Reversals in the Forex Market
The Forex market was very interesting to observe last week. Major news like the Non-Farm Payrolls report in the U.S., the new trade deal between the USA, Canada and Mexico, and Bank of Japan’s determination to keep fighting deflation all contributed to an eventful five days in the world’s largest market. News and events is…
Natural Gas: The Rally Continues… For Now
It has been only a week since our last update on natural gas, but what an eventful week it was. On September 27th, the price was hovering around $2.99, following a recovery from $2.759 to as high as $3.088. The Elliott Wave Principle, which had previously put us ahead of that rally, this time suggested…
Boeing Getting More Risky as it Rises, Not Less
Of course, all stocks are riskier at a higher price, but after Boeing ‘s phenomenal performance in the last two years, it is very easy to forget that it can actually go down, as well. It is a risk which must never be neglected. BA just climbed to a new all-time high and the last…
USDMXN: Is the 18.50 Support Going to Hold?
It has been over two months since our last article about USDMXN. On July 27th, the Forex pair was trading slightly above 18.6150. The Elliott Wave Principle then suggested “a corrective rally to 19.50 – 20.00 is about to interrupt the downtrend in the near future.” The logic behind our optimism was simple: there was…
EURUSD: When the Fed Supports the Elliott Wave View
Following a recovery of more than 500 pips in a little over a month, EURUSD suddenly crashed from 1.1815 to 1.1570 last week, erasing half of its recent progress in just a few days. The selloff came after the Fed raised its benchmark interest rate for the third time this year on Wednesday and promised…
Natural Gas Price: Is the Rally Over?
Two weeks ago, on September 13th, the price of natural gas was hovering around $2.83, following a decline from as high as $2.996. Fortunately, the Elliott Wave Principle helped us recognize the fact that the recent weakness was nothing more than a temporary pullback within a larger bullish setup. So instead of joining the bears…
Nifty 50 Bulls Unable to Stop the Bleeding
We published our last update on the Indian Nifty 50 almost four months ago, on June 6th, when the benchmark index was hovering around 10 550. Despite the recent selloff from 11 172 to 9 952, the Elliott Wave outlook was still positive. With the help of the chart below, we concluded the index is…
JNJ Stock Had a Nice Run Lately. Time to Sell?
Less than four months ago, JNJ stock was trading below the $120 a share mark, down 20% from its all-time high of $148.32. A 20% decline is a pretty serious thing for investors, especially when we talk about blue chip stocks, which are considered to be less volatile and therefore safer bets. In fact, many…
Fibonacci Support Sent USDJPY Skyrocketing
Earlier today, USDJPY climbed to 112.88, which is just 30 pips shy of its 2018 high at 113.18 reached in mid-July. Just two weeks ago, on September 7th, the pair fell to as low as 110.38, which means it has gained as much as 250 pips in just 11 trading days. How come? Was there…
MCD Stock Won’t Stay in That Range Forever
It has been a while since April 3rd, when we published our last update on McDonald’s. In that highly bullish article we shared our view that MCD stock ‘s recovery was poised to continue and eventually reach $180 a share. MCD was trading near $157.70 back then. Over five months later, it is still hovering…
