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EURUSD: Elliott Waves Versus Deceptive NFP Reports

The last two weeks have been exceptionally good for EURUSD so far. The pair rose from as low as 1.1045 on August 5th to 1.1322 as of yesterday, August 16th. The plunge to 1.1045 came as a result of the latest NFP report, which turned out to be very good for the dollar… at first.…

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Riding EURUSD’s Rally From the Start

EURUSD took a hard hit after the British referendum results showed Britain wants to leave the European union. The pair plummeted from 1.1427 to as low as 1.0911 in a matter of hours on June 24th. After recovering to 1.1185, the exchange rate started declining again. A month after the referendum, it fell to 1.0951…

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USDCAD Forecast Still Valid After Two Months

USDCAD reached 1.3187 in May, but then fell to as low as 1.2654 by June 8th. However, the pair recently took out the top at 1.3187 and managed to climb to 1.3251. Our purpose is not to explain why did this happen, but to demonstrate that with the proper forecasting method and the ability to…

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USDTRY Ruled by Elliott Wave, Not Erdogan

Ten days ago, on July 15th-16th, there was an attempted coup in Turkey against the government. It failed, but left over 300 people dead and more than 2000 injured. The consequences of the crisis are still unfolding with nearly 6000 military and many more civil citizens being arrested and, according to western media, tortured in Turkish…

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NZDUSD on Something More Than Just a Pullback

It has not been a good week for NZDUSD. After climbing to 0.7324, the pair lost momentum and fell to 0.7118 so far. But NZDUSD plunged to 0.6235 in September, 2015, so the current small pullback does not seem to be a reason for concern. Well, we believe it is, because, according to the Elliott…

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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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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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AUDUSD: Happy Giveaway Subscribers

AUDUSD is trading above 0.7550 after recovering from the bottom at 0.7144 registered on May 24th. A rally of more than 400 pips is surely making the bears nervous, especially following the sharp sell-off from 0.7835. This is an excellent example of the fact that traders should never rely solely on the continuation of a trend,…

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USDCAD With an Incredible Development

USDCAD is back to the upside. After bottoming at 1.2654, the pair is once again looking bullish just a day after it climbed to 1.3090. But simply being able to identify the support and resistance levels does not mean we could correctly predict the market swings. In order to do so, we would need something…

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USDCAD’s Plunge Not Surprising At All

It was June 2nd, when USDCAD climbed to 1.3142 and it looked like it was only a matter of time for the pair to reach a new high above the previous one at 1.3187. But instead of continuing higher, the exchange rate reversed sharply to the south and, as a result of a steep sell-off,…

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EURUSD: NFP or Elliott Wave?

The Non-Farm Payrolls report for the month of May was a total disaster. Only 38K jobs added versus 164K expected. If you ask the majority, it is no surprise that EURUSD rocketed after the news was out. The problem is that the majority had no idea what to expect from EURUSD until the NFP was out. Elliott…

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GBPUSD Faces a Major Obstacle

It has been a rough week for the GBPUSD. Just as it seemed the pair was going to approach the previous multi-month high at 1.4770, the bears ran out of patience and caused a plunge to 1.4385 so far. Obviously, the resistance of 1.4770 turned out to be too strong for the bulls to breach,…

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Three in a Row in EURUSD

EURUSD climbed as high as 1.1616 in the beginning of the month, but the bulls could not keep up the positive momentum, allowing the bears to take the rate down to as low as 1.1098 so far. The price action was a little choppy last week, with the pair falling to 1.1129, then climbing to…

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USDJPY 20 Days After the Forecast

USDJPY fell to as low as 105.54 on May 3rd and just when the picture was beginning to look more and more negative, the bulls decided they have had enough and came back to lift the pair to 110.58 so far. This 500-pip recovery must be a painful wound for the bears, which would have…

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USDCHF Ready to Skyrocket?

USDCHF climbed to 1.0328 in late-November, 2015, but lost almost 9 figures by the beginning of May, 2016. Nevertheless, the pair managed to find support at 0.9444 and has been rising since. With the exchange rate currently hovering around 0.9830, it is time to take a look at the charts and see what the Elliott…

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