US equities took a pause on Tuesday and retreated from their record highs. While the optimism over COVID vaccines is still there, investors focused on the surging number of infections, which can lead to another series of lockdowns. Also, US retail sales data disappointed...
In this respect, the Chinese manufacturing and services PMI expanded quicker than expectations in June according to the official data...
The latest developments have been reassuring for Italian assets. Optimism continues to be felt on the front of Italian BTPs with 2y yield falling from 0.009% on Monday to -0.120% (-1’463%) on Tuesday while longer-ends treasuries remain less impacted (resp. -14% and -7.50% for 10 and 30 years...
Trade data are here to confirm it: the dependence to China’s exports is weighing on the Japanese manufacturing industry. In decline territory for the fourth straight month, exports to China dropped 10.1% in June, confirming a slowing Chinese economy following the release of 2Q GDP figure of 6...
NAFTA trade talks between the US and Canada are resuming today – and this certainly not expected to be a quick resolution period...
Talking Point: Technical Strategy: Turning Bearish Elliottwave View: Progressing reversal. Analysis Silver tested it's weekly trendline resistance after having triangle formation (flag pattern...
Talking Point: Technical Strategy: Turning Bearish Elliottwave View: Progressing reversal. Analysis Silver is working on testing it's weekly trendline resistance. Last time it was tested 2nd Mar, 2017 and able to break and sustain it's breakout on 4th Apr, 2017...
Talking Points: EURGBP Technical Strategy: On break of trending line, it will be bullish else temporary bearish Elliottwave Count: Correction is too short to mark complete, however price will take decision on trending line...
FTSE 100 On UK index, FTSE100 we expect more gains in the short-term as the recent minor pullback appears to be a wave four within an uptrend. We are looking for wave five to rally towards 6350-6400...
GBPUSD On the GBPUSD we are observing a nice impulsive structure from the lows, where end of blue wave 5 was labeled. Currently we see the price in a corrective pullback, specifically in red wave b), which could be near completion as three sub-waves are already visible within it...
GBPUSD fell sharply lower last week after vote counts for EU membership showed that the UK wants to leave the Euro zone. The pair fell to a new low which was technically expected as you know since we counted the bounce from 1.3850 as a corrective fourth wave...
Talking Points: GBPUSD Technical Strategy: Keeping Bearish view Elliottwave Count: ZigZag Correction will be our primary choice in count GBPUSD Start showing divergence on daily bearish trenline and 240min newly created bullish trendline. Current level 1.4650-1...
We as Elliotticians "fear" one thing: Wave 4. It is the hardest thing to be determined, especially when it begins and when it ends. Wave 4 takes many forms and usually is observed to always be the complex one (complex zig-zag, triangle, 7s, 11s or 13s structures...
AUDUSD Daily Chart In its daily chart, AUDUSD pair has created a bullish structure of the lows but not yet to consider a completed intermediate 5-waves up. If we make an extension of waves 1 and 2 ... continue here http://www.forexsignalsfactory.net/2016/04/13/audusd-upcoming-short-term-forecast...
Our Daily wave count suggests that British Pound has entered into a corrective wave 4, which up to now is developing to be a zigzag. The most important level to watch here is 1.400 which should not be broken in case GBP/USD is to reach a higher point as suggested by our current and past analysis...
Even though USD/JPY made a new low today compared to the low that should not have been breached, it is not impossible for B waves to touch or even extend beyond A’s low. Thus, the bullish scenario for USD/JPY to target 109.00 levels again withing these two-three trading days is still on the table...
Sometimes, Elliott wave theory can let you see into the future! This was one of those weeks for a few of the markets we analyse. we saw some price targets being met and some confirming action for our wave counts, which makes me feel a little more confident for our calls...
