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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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 […]
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 […]
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 […]
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 […]
Last Friday, March 10th, the SEC rejected a proposed change in its rules that would have allowed the Winklevoss brothers to create the first Bitcoin ETF. Following the decision, the price of the cryptocurrency fell over 20%, from nearly $1290 to as low as $975 in a matter of minutes. And while the speed and […]
A month ago, on February 10th, we examined bitcoin’s tendency to extend the fifth waves of the impulse it draws. As of the time the article was published, the cryptocurrency was trading around $960, after a crash from $1075 to $914. But instead of selling with the other bears, the lessons learned from bitcoin’s manic-depressive past […]
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 […]
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 […]
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 […]
A vital lesson to learn from Bitcoin’s short, but violent history Bitcoin crashed. Again. Yesterday, the cryptocurrency fell from as high as $1075 to below $914, bringing back the memories from the disastrous selloff we saw in the first days of 2017. It looks like each time Bitcoin rises significantly, a violent reversal follows. Obviously, the digital […]
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 […]
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, […]
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 […]
The first few days of 2017 made the growing Bitcoin society very excited. The price of the digital currency exceeded the $1000 mark and even managed to climb to $1140 on January 4th. Unfortunately, the very next day reduced the bulls’ hopes to ashes, after Bitcoin plunged to as low as $885 in a matter […]
Donald J. Trump officially sworn as the 45th president of the United States yesterday. And if the stock market remained relatively calm during the week of his inauguration, the USDJPY pair has been very interesting to watch. After opening at 114.31 on Monday, it fell to 112.56, before bouncing back up to 115.61, only to close […]
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