The “5-trillion-a-day“ Forex market, is the place to be, if you are wondering who is going to win or lose the currency war between the central banks worldwide. However, bankers cannot brake the rules by which the market is flowing. They can only obey the laws of mass psychology.
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USDCAD: Ahead of The Slump of the Week

usdcad elliott wave analysis june 5

USDCAD opened at 1.3467 on Monday. Three days later, the pair fell by over 300 pips to as low as 1.3165. According to the media, the reason for the selloff was Bank of Canada’s sudden change of heart towards interest rates. At the start of 2017, the central bank was expected to lower the benchmark interest…

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GBPAUD Plunging Like There is No Tomorrow

gbpaud elliott wave chart analysis

It has been a little over a month since GBPAUD reached 1.7650 on May 10th. The day before, May 9th, we published “GBPAUD About to Change Direction”, sharing our Elliott Wave-based opinion, that instead of joining the bulls above 1.7600, traders should stay aside and get ready for a major bearish reversal. Here is the…

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GBPUSD Before and After the UK General Election

It is a bad day for Theresa May and GBPUSD bulls The first exit polls of Britain’s General Election show that despite their win, the Tories are losing their majority in the UK parliament. This is thought to be the worst possible outcome, because Theresa May will either have to form a minority government or resign.…

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USDJPY’s Dive and the Paris Climate Accord

usdjpy elliott wave chart may 22

The U.S. dollar continues to tumble against most of its rivals. The selloff is especially obvious against the Japanese yen, with the USDJPY pair declining from as high as 114.35 to as low as 109.56 as of today. The first possible explanation for the dollar’s plunge that comes into mind, is the United States withdrawal…

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Bearing the Fruits of USDCAD’s Selloff

usdcad elliott wave chart may 15th

Earlier this month, on May 5th, USDCAD fell just 7 pips short of the 1.3800 mark and it looked like it is only a matter of time before the pair breaches this round figure. Then, the bulls suddenly got tired and their next attempt to lift the dollar to a new multi-month high against the Canadian dollar…

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GBPAUD About to Change Direction

gbpaud elliott wave chart analysis

The GBPAUD exchange rate climbed to levels not seen since September, 2016. The pair is currently trading close to 1.7600, nearly 19 figures above the bottom at 1.5757 registered in October last year. Rising prices could be tempting, but also dangerous. In fact, the daily chart below suggests the British Pound is at a critical…

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USDCAD Approaching 1.3800 Target

elliott-wave-chart-usdcad 1h april 24th

USDCAD climbed to 1.3757 this Tuesday after the recovery from 1.3222 continued. The pair has been making higher highs and higher lows since mid-April after the bears could not even drag the rate below 1.3200. Instead, it seems to be approaching the 1.3800 – level not seen since February, 2016. Explanations for the surge vary wildly,…

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AUDNZD Bulls to Show Their True Power

audnzd forex pair elliott wave chart

Nearly a month ago, on April 6th, the AUDNZD exchange rate was trading close to 1.0820, after falling from as high as 1.1018. But instead of buying the dip right away, in an article called “AUDNZD Navigating Through Elliott Waves”, we suggested traders would be better off waiting for the pair to improve the risk/reward ratio…

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Ahead of the Plunge in USDCAD

usdcad elliott wave chart

Ten days ago, on April 4th, USDCAD was hovering around 1.3450. Yesterday, the pair fell to as low as 1.3223, before recovering to 1.3338. As traders, we are interested in the reasons behind that 230+ plunge and how to be prepared for it next time. Should we watch Trump, who just said the dollar was…

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AUDNZD Navigating Through Elliott Waves

audnzd elliott wave chart

AUDNZD was trading close to 1.0730 on February 21st, after a strong recovery from as low as 1.0324. Despite the speed and sharpness with which the pair was rising, the Elliott Wave Principle suggested the bears were likely to “drag the rate back down to the area near 1.0600, where new long opportunities should present…

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Euro Dollar: Genesis of a Fake Breakout

No, the Illuminati did not cause that euro dollar fake breakout Last Monday, March 27th, the euro dollar Forex pair breached its previous high at 1.0828 and climbed as high as 1.0906. That is what traders usually call a breakout. Taking out a major resistance like this is supposed to serve as a buying signal…

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Pound Dollar Months Ahead of Brexit Talks

Or why having an Elliott Wave guide at hand is better than guessing the news GBPUSD has been moving sideways since the “Flash Crash” in early-October, 2016.  During the next six months, the pound dollar pair has been locked in a contracting pattern even the novice technical analyst can recognize. We are talking about the…

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4 Pairs Before and After the Fed Rate Hike

Predicting the Fed rate hike is not the same as predicting the market’s reaction to it The benchmark interest rate of the Federal Reserve is now 1% after the central bank hiked by 25 basis points on Wednesday. And while the Fed rate hike was virtually guaranteed, the Forex market’s reaction to it came as a…

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GBPUSD Before and After the Giveaway

GBPUSD regained negative bias at the start of February and has been losing ground ever since. After forming a top at 1.2706 a month ago, the pair fell to as low as 1.2214 at one moment today and is currently trading near 1.2240. It is interesting to notice that roughly half of this 490+ pip decline happened…

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Euro Bulls Could Not Defy Gravity Forever

As the euro continues to lose momentum, here are the technical factors, which led to this The euro climbed to 1.0828 against the U.S. dollar on February 2nd, which was the culmination of a recovery that began from as low as 1.0340. Nearly 500 pips to the north, which is usually more than enough to convince even the…

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