EUR/JPY has made a bearish channel exit, time to start selling

The price has made a bearish channel exit with its profit target potential at 119.15 (Fibonacci extension, Fibonacci retracement). Our aim is to sell below the 120.35 resistance (Fibonacci retracement, horizontal pullback resistance) for a further push down to that level. The MACD is in a strong bearish configuration signalling that further bearish movement is Read more about EUR/JPY has made a bearish channel exit, time to start selling[…]






NZD/USD testing our selling area, remain bearish

The price continues to test our selling area as expected and is seeing a nice bearish reaction below the 0.7065 resistance (Fibonacci retracement, Fibonacci extension) where we expect a drop to at least the 0.6968 support (Fibonacci retracement, recent swing low support). We can see that the price has made a bearish exit in a Read more about NZD/USD testing our selling area, remain bearish[…]






Elliott wave analysis of EUR/NZD for March 23 – 2017

Wave summary: The correction in wave [iv] drags out in time, indicating that a triangle consolidation could be unfolding. That does not alter the expectation of a rally higher towards at least 1.5537 and more likely even closer to 1.5764 to complete wave [v] and wave i. R3: 1.5441 R2: 1.5382 R1: 1.5320 Pivot: 1.5300 Read more about Elliott wave analysis of EUR/NZD for March 23 – 2017[…]






Elliott wave analysis of EUR/JPY for March 23 – 2017

Wave summary: Wave ii has now tested the 78.6% correction target seen at 119.20 and wave iii is ready to take over for a rally to above 122.88. That said, we need a break above minor resistance at 120.34 to confirm that wave ii has completed and wave iii higher is unfolding. R3: 121.05 R2: Read more about Elliott wave analysis of EUR/JPY for March 23 – 2017[…]






NZD/USD fundamental analysis for March 23, 2017

NZD had an important event today which was the Official Cash Rate during the RBNZ Rate Statement which was remained unchanged at 1.75% as expected. As the bounce off the 0.6900 area the price is currently heading upwards with an impulsive manner with the help of increased in Unemployment Claims report of USD. Today USD Read more about NZD/USD fundamental analysis for March 23, 2017[…]






Euro Little Changed Following German GfK Consumer Sentiment Survey

At 3.00 am ET Thursday, Germany’s GfK consumer sentiment survey results have been released. The euro changed little against its major rivals after the data. The euro was trading at 1.0799 against the greenback, 120.15 against the yen, 1.0708 against the franc and 0.8634 against the pound around 3:01 am ET. The material has been Read more about Euro Little Changed Following German GfK Consumer Sentiment Survey[…]