The EUR/USD moved slightly upwards last week, testing the resistance line at 1.0800 many times, without being able to close above it on Friday. Price may eventually go above the resistance line at 1.0800,...
As of recent breach beneath the sub-wave B swing of B), we modified our wave count and are now looking at a simple zig-zag correction of wave 4-circled, that is being made.
The commodity closed higher the past week leaving risk of more strength on the cards. But we may a correction lower occurring.
With the pair continuing to weaken further on Wednesday, more decline is likely in the days ahead
We see Aussie moving lower, but unfortunately price structure from 0.7684 is not clear enough to call wave # oe wave C, so it remains unanswered if move from the high is corrective or impulsive.
February durable goods orders increased 1.7%, which compares to expectations of an advance of 1.4% and durable goods, excluding transportation, were up .4%, when a gain of .6% was anticipated.
The pair continued to retain its downside pressure with more declines expected.
USDCHF is trading in a correction of a higher degree, a big EW triangle pattern, with price now specifically trading in final stages of this triangle correction in wave C) of E.
AUDUSD Elliott Wave View: Pullback in progress
USDCAD made a nice and sharp reversal lower into final wave 5 of 1) two days ago. Recent rally is the beginning of a corrective wave 2), with first leg A already completed.
The “bearish sentiments” dominate on the “black gold” market since the beginning of this month. The decline of the WTI (#CL) oil futures exceeded 10% for this period. Oil found...
Recent strength in the pound has been linked to news that U.K. inflation exceeded estimates, rising above the Bank of England’s inflation target for the first time in over three years.
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AUDUSD Technical Analysis March 21/2017
Dollar reaches critical point. 50% retracement on Daily Chart.
Aussie is currently making a sharp decline from around the 0.7749 level, where a possible top for wave C) of E may have been found.
The commodity looks to recover further higher
USDJPY is falling sharply, clearly making an impulsive extended wave down from 115.50 which may see losses towards 110.00 level.