British Pound ‘s 13-Year Downtrend Almost Over

The thirteen-year period between 2007 and 2020 started with the biggest crisis since the Great Depression and is about to end with the biggest crisis since the Great Depression. Between the two, the longest economic expansion on record took place. And while stock markets around the world reflected that recovery, some currencies have been in…

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GBPUSD To Resume Uptrend Once Correction Ends

The Brexit saga continues as Boris Johnson’s re-election puts Britain firmly on the path of leaving the EU on January 31st 2020. And while the results of the June 2016 referendum caused a crash to 1.1650 by October 2016, GBPUSD is trading near 1.3100 today. The chart below reveals the structure of the recent recovery…

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S&P 500: Last Four Moves Made Elliott Wave Sense

Over a month ago, on November 8th, we published an article demonstrating the Elliott Wave principle‘s ability to predict relatively large moves in the S&P 500. As the move in question progressed we decided to take a closer look into its structure to see what is left of it. The chart below was part of…

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EURUSD Turns Up Ahead of Brexit Talks Breakthrough

EURUSD is up by 260 pips since the beginning of October. The pair climbed from 1.0879 to 1.1140 in just 14 trading days. The rally appears to be fueled by optimism regarding a possible Brexit deal and the tentative “phase-one” agreement between the US and China. In our opinion, however, there is something more to…

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Gold Traders Better Off Ignoring the News

In our previous article about the precious metal readers saw how the Elliott Wave principle put us ahead of gold ‘s $72-decline from $1531 to $1459. In short, the hourly chart made us think a three-wave decline from $1555 was still in progress. Hence, the bears remained in charge and more weakness could be expected.…

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GBPJPY Bears Remove a Major Hurdle

It has been less than 20 days since our last update on GBPJPY. On July 20th we shared our view that the pair is “looking into the hard Brexit abyss” and while the pair was trading around 146.20, we concluded that much lower levels should be expected. Of course, the bearish outlook was not based…

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GBPJPY Unmoved by Brexit… For Now

GBPJPY climbed to its highest point in over a year yesterday, despite Brexit negotiations not going in the best possible way. The pair has been in recovery mode since October 2016, but its chart is looking quite heavy, not because we expect Brexit to eventually take its toll on Britain’s economy, which is also very…

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Theresa May Only Did the Bulls’ Dirty Work

It has been a wild ride for GBPUSD this week. The pair initially opened with a huge gap to the downside, following Theresa May’s “Hard Brexit” comments, but then reversed to the north to climb from as low as 1.1987 on Monday to as high as 1.2414 on Tuesday. It turned out that those, who…

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Not the Time to Buy FTSE 100 Either

On June 24th, when it became clear that the majority of UK citizens wants the country to leave the European Union, the FTSE 100 fell sharply to 5741. However, it has been recovering ever since and is currently trading above 6680. Once again, trading the news did not prove to be the way to make money…

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Long Term Elliott Wave Vision in GBPUSD

Do you remember, when GBPUSD reached 2.1159 in November 2007? Do you remember, when it fell to 1.3502 January 2009? Do you remember when it recovered to 1.7190 July 2014? Well, you better do, because these are the three key points, which paved the way for the crash we are currently witnessing. Wasn’t it Brexit, most would…

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Gold or How to Predict a Brexit

Gold is considered to be a “safe haven” in times of uncertainty. So the common logic says that when something totally unexpected happens, such as Brexit, panicked investors buy gold to protect themselves from the falling prices in other markets, thus causing the price of the yellow metal to surge. So far so good. The…

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Brexit or Not, EURUSD Follows Elliott Wave

Britain voted to leave the European Union, causing the dollar to skyrocket against all major currencies. One of Brexit’s victims in the forex market was EURUSD, which plummeted by more than 500 pips – from 1.1427 to 1.0911 – in less than 8 hours. To most people, Britain’s referendum results are quite shocking. We admit that Brexit…

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Did Brexit Fears Cause GBPUSD’s Plunge?

What a surprising week this is for GBPUSD. Less than five trading days ago, on March 18th, the pair was flying above 1.4510 and just look how fast things change – today it plunged to 1.4056 so far. According to most mainstream analysts, Brexit fears are responsible for this week’s sell-off in GBPUSD. And it…

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