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Wave Analysis

Week Ahead in The Forex Market
April 14, 2014 - 13:26
Last week, the US Dollar fell across the board against most major currencies, posting a weekly loss of over 1% lead by relatively dovish FOMC outlook as portrayed by the minutes from the Federal Reserve's March 18-19 meeting, changing investor expectations on the future of first interest rate by the US central bank. The minutes also showed that the central bank officials were in consensus to scrap the 6.5% unemployment rate as a threshold in its decision of the first rate-hike. The US Dollar was further pressured by the BoJ status-quo...
Daily Wave Analysis for 14 April 2014
April 14, 2014 - 06:17
EURUSD Price did not manage to stay in its channel (blue) when approaching the top (red line). Is this  a retracement? Let’s zoom in to lower time frames. 4 hour chart EURUSD: The wave 4 (green) has indeed bounced at the 38.2% Fibonacci level. Now there is a chance for price to retrace back to the 50% or break (green arrows) above the resistance (purple). 60 min chart EURUSD: GBPUSD It is currently at the previous daily top. A break of this level could see a potential for price to move to higher targets. 4 hour chart GBPUSD:...
Technical Outlook – EURGBP and EURJPY
April 11, 2014 - 16:23
Euro region currency continued strengthening even as ECB President, Mario Draghi, signaled readiness to act if the region’s inflation pushes the central bank towards further monetary easing. In the absence of major economic indicators, market players are expected to maintain their optimism for Euro during rest of the trading week. Following is the technical overview of EURGBP and EURJPY. Also Read: US Dollar Continues To Weaken EURGBP EURGBP is on the way to register a weekly positive close by reversing from 0.8230 level, the pair...
Technical Update - USDJPY, USDCHF
April 11, 2014 - 16:09
This week, the US Dollar fell sharply against JPY and CHF primarily lead by the minutes from the Federal Reserve's March 18-19 meeting, which changed market expectation of the first interest rate hike even if the US unemployment rate dropped below 6.5% threshold. The US Dollar is now headed for its first weekly loss against JPY and CHF in last four weeks. Given the backdrop, here is a technical update on USDJPY and USDCHF currency pairs. For Technical Update on EURUSD, GBPUSD and NZDUSD, READ: Important Major Currency Pairs - Technical...
Daily Wave Analysis for 11 April 2014
April 11, 2014 - 07:13
EURUSD Price is neatly travelling in an uptrend channel (blue), but be cautious of the resistance (red and orange). 4 hour chart EURUSD: The wave count could has been extended. The wave 4 (green) Fibonacci levels could still be a bouncing (green arrows) spot at the 38.2%. 60 min chart EURUSD: GBPUSD It is currently at the previous daily top. A break of this level could see a potential for price to move to higher targets. 4 hour chart GBPUSD: Price indeed completed 5 waves of wave 3 (blue). There is a good chance of potential support (...

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