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  1. EUR/USD Weekly Technical Analysis: More Euro Selling Ahead

    by , 10-28-2017 at 12:50 PM
    For starters, we may very well see a bounce and retest of the neckline around the 11670-threshold. Retesting the ‘neckline’ is a fairly common occurrence and can offer traders a spot to establish (or add to) short positions. We may even see a stronger bounce develop back above resistance, but is likely to prove short-lived if the topping formation is to exert downward pressure. At this time, it will require a move above the trend-line running down off the September high and overtaking of Thursday’s ...
  2. Australian Dollar Set to Fall on Bearish Bias

    by , 10-26-2017 at 08:40 PM
    AUDUSD: Retail trader data shows 53.7% of traders are net-long with the ratio of traders long to short at 1.16 to 1. The number of traders net-long is 4.7% lower than yesterday and 4.7% lower from last week, while the number of traders net-short is 12.0% lower than yesterday and 13.0% lower from last week.

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    We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests AUDUSD prices may continue to fall. ...
  3. NZD/USD Elliott Wave Analysis: No Signs of a Bottom

    by , 10-25-2017 at 12:15 PM
    NZD/USD has fallen hard in the past five trading days down nearly 400 pips. A strong move of this nature suggests NZD/USD may be in an impulsive wave lower.

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    The move lower appears incomplete and the next cluster of wave relationships shows up near .65-.66.
    The Elliott Wave model we are following suggests we are in a wave (iii) lower. Third waves tend to be the longest and strongest of the Elliott Wave sequence. Therefore, it should ...
  4. Crude Oil Price Strengthens on Geopolitical Risk, Positioning

    by , 10-17-2017 at 04:25 AM
    The price of WTI Crude Oil has mounted a strong recovery after testing the polarity point on the chart between $49/51 per barrel. A polarity point is where prior resistance may act as future support. Oil traders should look to see if the price can continue to find support near the $50/bbl figure. Since summer, the dominant trend bias favors price appreciation.

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    From current pricing, a hold of a daily close above the $50.18 figure (Oct. 12 ...
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  5. EUR/GBP Technical Analysis: Euro Down Trend About to Resume?

    by , 10-13-2017 at 04:25 PM
    The Euro may be readying to resume the down trend started in late August against the British Pound after a corrective upswing stalled ahead of the 0.90 figure. A pair of bearish candlestick patterns has emerged and negative RSI divergence bolsters the case for a downside scenario.

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    Near-term support is at 0.8891 (14.6% Fibonacci expansion, former trend line resistance), with a daily close below that opening the door for a retest of the ...
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