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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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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AUDNZD Accelerated Fast. Time to Rest?

AUDNZD bulls got their revenge after months under bearish oppression It has been just 15 days since the last time we wrote about AUDNZD. On February 6th, the pair was trading around 1.0480, but we thought it was unlikely to remain there for long, because, as the chart below will show, our Elliott Wave analysis…

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USDCAD’s Surprising Surge Explained

USDCAD closed at 1.3028 on Friday, February 3rd, continuing the decline from 1.3387, which began in mid-January. So, if you have been expecting more weakness this week, nobody can blame you. After all, trading in the direction of the trend is a viable strategy. However, even the strongest trend is interrupted by an occasional correction from…

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AUDNZD Stubborn Bears Finally Surrender

On December 30th, 2016, we published “AUDNZD Bears Weaker Than They Appear.” At the time of writing of that article, while the pair was trading near 1.0380, we thought the bulls should soon return and lift AUDNZD much higher. The reason for that optimism was the Elliott Wave analysis of the chart below. As visible,…

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Avoiding USDCAD’s Treacherous Traps

If you have been following USDCAD, you would agree that this week is nothing like last week. Between January 17th and 20th, the pair rocketed from as low as 1.3018 to as high as 1.3387. Just when it looked like the bulls are unstoppable, USDCAD reversed to the downside to lose over 330 pips at…

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