EURUSD’s Chart Was Heavy Ahead of FOMC

eurusd elliott wave analysis september 18

The Federal Reserve announced yesterday it is keeping the interest rate unchanged, a move that was largely anticipated. However, 2017 is still expected to see another rate hike with three more coming in 2018. Following the news, the dollar strengthened against its major rivals. The EURUSD pair crashed from above 1.2030 to 1.1860 in less…

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Crude Oil Finally Rewards Stubborn Bulls

crude oil elliott wave analysis sept 11

If you were bullish on the price of crude oil, last week was nothing short of wonderful for you. The commodity opened the weekly trading session at $47.57 and after a small dip to the round number of $47, it climbed to as high as $50.47 a barrel, exceeding the previous major high of $50.40,…

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Three Weeks Ahead of Bitcoin’s Terrifying Selloff

bitcoin elliott wave forecast

It was September 1st, when the price of Bitcoin was hovering around the $5000 mark. Today is September 15th and the markets once again proved that for the cryptocurrency, two weeks is a very long time. BTCUSD just fell to $3051 on BITSTAMP and even lower on some of the other exchanges, erasing roughly 40%…

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Crude Oil on the Path of the Hurricanes

crude oil elliott wave analysis september 4th

As if Harvey was not enough, the United States now braces for Irma, which in turn is expected to be followed by Jose and Katia. Irma is considered to be the strongest hurricane ever to hit the shores of the U.S.. Its winds are blowing at speeds higher than 185 mp/h (300 km/h), enough to…

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Elliott Wave Months Ahead of USDCNH’s Selloff

usdcnh elliott wave analysis update

It has been a rough 2017 for USDCNH bulls so far. The pair has been in an uptrend since January, 2014, but it feels as if it was simply waiting for the calendar to change. The dollar climbed to as high as 6.9872 in late-December, 2016. Nine months later, it is down by 6.6% to…

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Gold, Trump, North Korea and the Moving Stop Order

gold elliott wave analysis july 17

You do not need to be Sherlock Holmes to find a good enough explanation for the recent surge in the price of gold. On one hand, there is North Korea, whose hostile behavior and multiple missile launches show just how fragile peace really is. On the other, there is Donald Trump, who has never been…

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EURUSD Only Using Draghi and Yellen as Catalysts

eurusd elliott wave analysis august 21

The Euro climbed to its highest level against the U.S. dollar since January 2015 after ECB President Mario Draghi expressed optimism about the Eurozone’s economic prospects in his speech at Jackson Hole on Friday. At least this is the reason mainstream media uses to explain the sudden surge in EURUSD. In our opinion, though, the…

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Oil States Stock Getting Cut in Half Again?

oil states stock elliott wave analysis

Eight month ago, we stumbled upon the daily chart of Oil States stock and immediately recognized a dangerous situation. A few days before New Year, while OIS was trading close to $40 a share, the Elliott Wave Principle warned us that “the bears are supposed to take the wheel again“, since there was a “Textbook…

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Intel on the Verge of Something Big

intel stock elliott wave analysis weekly

“Another decline at least to the support area near $34 – $33 might be underway.”  That is what the Elliott Wave Principle suggested about the share price of Intel Corp. back on January 31st. While the stock was trading at $37.40 over six months ago, we published an article to show you the following chart.…

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Good News for Crude Oil, Good News for Elliotticians

wti oil elliott wave analysis july 3

It has been a good week for bullish crude oil traders so far, who saw the price of WTI move from $45.63 on Monday to as high as $48.40 as of this writing on Wednesday. According to MarketWatch, the rally has been driven by two main factors – OPEC and, more importantly, “news of cuts…

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What’s Next After Bitcoin’s Scary Dip and Sharp Bounce

bitcoin index elliott wave analysis

It has been twelve strange days since our last update, titled “Bitcoin Traders Running for the Hills Already?” Strange, because of what happened to the price of the cryptocurrency during that time. But let’s take a look at the Elliott Wave chart we published on July 12th, while BTCUSD was trading near $2330 and see…

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USDJPY False Breakout Right On Schedule

usdjpy elliott wave analysis july 10

USDJPY’s rally from 108.80 came to its natural end last week, when the pair climbed to 114.50. The rate exceeded the mid-May high of 114.36 for what is usually called a “bullish breakout.” Unfortunately, instead of rising even more, the U.S. dollar reversed sharply to the south to reach 111.55 yesterday for a decline of almost 300…

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USDCAD Two Months Ahead of Bank of Canada

usdcad may 8 elliott wave analysis

Last week, the Bank of Canada raised the interest rate for the first time in seven years, thus reinforcing the downtrend in USDCAD, which has been in progress since the top at 1.3793 in May. In this respect, the hike itself is hardly the reason for anything. Despite the fact that the U.S. dollar lost over 200…

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Verizon: The Worst DJIA Stock of 2017

verizon elliott wave count 3

According to a report by Yahoo, Verizon stock is the worst performer among the 30 stocks within the Dow Jones Industrial Average so far in 2017, after the share price of the telecom giant is down by over 18.5% this year. And indeed, Verizon finished 2016 close to $53.40 a share. Last week, it fell to…

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GBPCAD Bears Have Officially Returned

gbpcad elliott wave analysis

The last time we wrote about GBPCAD was almost half a year ago. On January 16th, 2017, the pair was hovering around its lowest level since July, 2013, after a decline from 2.0972 to as low as 1.5736. Usually, trading in the direction of the larger trend is a good strategy. Except when it is…

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