Earlier this month we published an article about AUDNZD, sharing two slightly different, but both bullish counts, which are supposed to eventually lift the pair to 1.1500 or higher. It is too early to say how this is going, but at least the short-term outlook seems to support the bigger picture. AUDNZD has been declining…
Elliott Wave Strengthens DAX 30 Bullish Outlook
It has been over four months since we last wrote about the German DAX 30. The blue chip index was trading around 12 700 following a sharp selloff from as high as 13 602. However, despite the fact that this plunge looked quite scary, the Elliott Wave Principle suggested that “it looks more like another…
Nifty 50 Still On Track for a New High Near 12 000
In mid-April the Indian benchmark stock market index Nifty 50 was trading near 10 550 after a recovery from a two-month plunge between 11 172 and 9952. Despite the recent pullback, the daily price chart suggested the uptrend was still in progress and the bulls should eventually be able to reach a new all-time high…
Buckle Stock Gains 40% in Two Months
Two months ago, on March 15th, we published an Elliott Wave analysis of The Buckle stock (NYSE:BKE), saying that “the stage is set for a surge.” At the time of writing, the stock was barely holding above the $18 mark after a decline of nearly 30%. But instead of joining the bears, we thought that…
EURCAD Bulls Setting Up a 400-Pip Recovery?
The European currency has had a tough time recently, losing ground against major rivals like the U.S. dollar and the Japanese yen. Here we are going to examine the Euro’s drop against the Canadian dollar, which has been in progress since March 20th, when EURCAD climbed to a multi-year high of 1.6153. The last time…
Mylan Stock to Leave Three Painful Years Behind
Three years ago, in mid-April 2015, Mylan stock was trading in the vicinity of $77 a share following a phenomenal rally from as low as $5.75 in late-October 2008. Currently above $40, Mylan (NASDAQ:MYL) is trying to recover from its 61.7% selloff which dragged the share price to $29.39 by August, 2017. Would the bulls…
Fibonacci Support Sends Nifty 50 to New High
In our last article about the Indian Nifty 50 index, published on May 19th, 2017, we shared an opinion that the price “is probably going to reach the 10 000 mark from now on. Maybe even 10 500.” Eleven months later, the Nifty 50 is trading near 10 550 after reaching 11 171 in late-January,…
Foot Locker’s Death Greatly Exaggerated
In about six short months between May and November 2017, Foot Locker lost over 63% of its market capitalization. The retail crisis did not spare FL stock, which crashed from $77.71 on May 10th to $28.42 by November 8th last year, following misses in earnings and revenue in the first two quarters of fiscal 2018.…
Buckle Stock Looks Bullish Ahead of Earnings
2017 was drawing to a close when we wrote an article about this relatively unknown apparel retailer on December 28th. The Buckle stock (NYSE:BKE) was trading near $24.50 after a four-month rally from as low as $13.60. But instead of falling in love with the recovery and joining the bulls, we decided to listen to…
EURUSD Sent North by Fibonacci Support
EURUSD bulls had nothing to complain about last week, as the pair rose from 1.2248 to a new 3-year high of 1.2555. It is no secret that the pair has been in an uptrend, especially since it has been rising during the entire 2017. Still, trends always include moves in the opposite direction. The most…
Here is Why Gold Prices Turned Bearish From $1306
Gold’s last major bottom was formed at $1260.50 on October 6th, following a decline from as high as $1357. By October 16th, the price of the precious metal was up to $1306 for a recovery of over $45. But instead of continuing to the north, the bulls could not breach this barrier and fell pray…
Dash Prices Bumping Into Fibonacci Support
Dash is the sixth largest cryptocurrency with a market capitalization slightly below $2.3 billion, or $297.60 per coin as of this writing. Dash fell to as low as $219 in the middle of September, then jumped sharply up to $370 just a week later, before declining to the $300 mark again, leaving bulls and bears…
USD Index Bears Could Still Breach 91.00, But…
It has been a while since our last update on the USD index. On December 13th, 2016, while the index was hovering around the 101.00 mark, the Elliott Wave Principle suggested the uptrend is approaching its end and the Dollar index “will not rise forever”. So, instead of joining the bulls, who have been in…
USDCAD Two Months Ahead of Bank of Canada
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…
USDCAD: Ahead of The Slump of the Week
USDCAD opened at 1.3467 on Monday. Three days later, the pair fell by over 300 pips to as low as 1.3165. According to the media, the reason for the selloff was Bank of Canada’s sudden change of heart towards interest rates. At the start of 2017, the central bank was expected to lower the benchmark interest…
