It has been almost five months since our last update on the Indian Nifty 50 index. On September 25th, the benchmark was trading around 11 000, following a pullback from the all-time high of 11 760. Still, the Elliott Wave analysis below suggested it was too early to buy the dip. The daily chart of…
EURUSD Reversal Needed “Breathing Space”
EURUSD plunged below 1.1260 earlier today. The pair has been steadily declining during the last twelve months and the latest drop suggests a new low is very likely to be reached soon. But it wasn’t all that clear two weeks ago, when the Euro was hovering around 1.1400 against the U.S. dollar. Then the Elliott…
A Month Ahead of USDCAD ‘s Bullish Reversal
USDCAD finished 2018 in a positive mood. The pair reached 1.3665 on the last day of last year, but 2019 has not been so generous to the bulls so far. By February 1st, the rate was down to 1.3069, losing over 4.3% in just a month. But let’s take a step back and see where…
EURNZD: Is February Going to Mimic December?
It was November 30th, 2018, when we last talked about EURNZD. The pair was trading near 1.6570, following a sharp selloff from as high as 1.7929 in less than two months. After such a huge and fast decline, traders were understandably very pessimistic about the pair’s prospects going into December. However, extrapolation is a dangerous…
Elliott Wave Ahead of MCO Stock Bullish Reversal
A month and a half ago, Moody’s was trading below $137 a share, following a decline from as high as $188 in late-July, 2018. MCO stock was down by 27% in just five months and investors were getting overly pessimistic about its investment merits. But instead of simply extrapolating the recent weakness into the future,…
GBPNZD: Reversal in Place, Negative Outlook Intact
Less than two weeks ago, GBPNZD was hovering near 1.9160, following a recovery from as low as 1.8127. After a 10-figure rally in just a month and a half, the bulls were getting more and more confident in their ability to keep pushing the pair higher. Unfortunately for them, the market was already sending a…
Procter & Gamble Stock Approaching Heavy Resistance
The lower the price paid the higher the return. This is a simple truth all stock market investors should keep in mind all the time. Yet, few really do. Procter & Gamble, for example, is the same strong company it was last year and the year before. Depending on the price you paid for its…
Silver Entering Bearish Reversal Area
The price of silver fell to as low as $13.90 on November 14th. It has been recovering ever since and is trading above $15.90 as of this writing. This means silver has gained over 14% in just two and a half months, making it one of the best investments in 2019 so far. The bad…
Overbought TRON Can Tumble 30% Against Dollar
TRON became the 7th largest cryptocurrency by market cap following a 135% surge in the last month. It surpassed Litecoin and Stellar on its way up and is now within a striking distance of Tether in the sixth place. TRXUSD’s recent performance can easily convince investors it is time to join the bulls. The problem…
GBPNZD: A Bearish Elliott Wave Cycle is Worrisome
Three weeks ago, GBPNZD was hovering around 1.8900, but the Elliott Wave principle suggested the recovery from 1.8125 was “far from over.” A three-wave pullback was supposed to occur, followed by another rally towards the resistance area between 1.9250 – 1.9630. The chart below, published on January 2nd, explains. The recovery from 1.8125 looked like…
Crude Oil Made an Elliott Wave “Push-Up” Last Week
It has been an eventful week for crude oil traders. On Wednesday, January 16th, the EIA revealed that inventories have decreased by 2.7 million barrels from the previous week. In the same time, it became clear that U.S. oil production rose to a record high of 11.9 million barrels per day. The first piece of…
Ralph Lauren Stock Set for a 50% Gain?
Ralph Lauren, the maker of Polo, is another top apparel brand, which was left for dead during the “retail apocalypse” of 2017. In just four years between May 2013 and May 2017, the company lost over 65% in market value as the stock fell from an all-time high of $192 to as low as $66.…
Etsy Stock: The Easy Money’s Been Made Already
Three years ago, in January 2016, Etsy stock fell to as low as $6.04 a share. Yesterday, it closed at $54.59 a share. If you have been among the lucky few, who happened to pick the bottom and held until now, your annual compounded rate of return would be over 108% per year or 803%…
Bank of America Riding the Earnings Wave… For Now.
The last time we wrote about Bank of America was on October 18th, 2018. The stock was trading below $29 a share, down from the $33.05 top reached in March. The bank had just reported a record first quarter, but the stock price was falling nevertheless. So in order to make sense of it, we…
Bitcoin Proves Traders Can Prepare without “Knowing”
The price of Bitcoin slightly breached the psychological level of $3500 yesterday and still has not been able to escape its gravity as of this writing. The current selloff brought back the memories of the time when BTCUSD fell to $3122 a month ago. And while in the markets everyone is an expert in retrospect,…
