To start off 2016, the AUD/USD has been under pressure and is likely to continue its course in the medium term; however, in our opinion, a slight pullback in the short term is favored as the pair finds support at the 161.8 percent fibonacci extension on the 4 hour time frame. Indeed, the sharp decline… Read More
NZD/USD and EUR/USD currency pairs are of major importance as we kick off this week’s trade following the major sell off of both pairs as the greenback rallied against all major pairs. In alignment with a shift of sentiment, a recovery in the higher yielding assets should not be ruled out. First taking a look… Read More
Risk has pushed higher across the board to start off the month of October and the upward trend has continued thus far. though we believe the medium term move favors bulls, we cannot rule out a pullback in particular the GBP/USD as bearish momentum divergence is beginning to show. As such, thus far we have… Read More
The forex market has been relatively muted over the past 2-3 days in light of the labor day holiday in the United States; however, as traders come online starting Tuesday September 8, 2015, it will be worth keeping a close eye on the EUR/USD as the pair is currently providing an attractable trade setup. Last… Read More
USD/CAD comes into focus as we look to close out the first half of August. With the pair not only slipping below trend line support which has held price action afloat since the middle of June, but also the bearish momentum divergence, shorts are preferred against the 1.33 area. From a purely technical perspective,… Read More
Taking a look at EUR/USD, GBP/USD and other forex trade setups from an Elliottwave perspective. This theory asserts that crowd behavior ebbs and flows in clear trends. Based on this ebb and flow, Elliott identified a certain structure to price movements in the financial markets. In this video, when taking a look at the USD/JPY… Read More
As we look to close out the month of June, NZD/USD and EUR/CAD are shaping to be key trading setups as they both provide an ideal risk-to-reward opportunity. Indeed, the former has witnessed a major downside onslaught, falling for 6 consecutive weeks and reaching a low of 0.6861 as of late. Though this fact is…...
AUD/USD has been battered 8 out of the past 10 trading days as of Wednesday May 27, 2015 on the back of a soaring U.S. dollar across the board. With a light economic docket in Australia for the remaining of the week, we do not rule out a possible rebound in the pair. Let’s take a…...
Video by, Michael Wright Chief Currency Strategist Global FX Club
(Global FX Club) The GBP/JPY remains in focus to start off this week as the pair slithers its way into a tight congested zone, with resistance located at the 181.00 – 181.90 area, and trend line support around 179.80. Indeed, last week we called for higher levels in the pair, with a turnaround to follow…...