The day after tomorrow (Wednesday, June 21) I will be the speaker of the Vancouver Forex Meetup, where I will talk about the early stages of a market cycle. Besides the theoretical, technical and psychological insights, we will study two possible bases of the GBPUSD, USDCHF pairs and check out a the measurement methods on … Meetup Charts
EURUSD Let’s start with the big picture. We don’t think the dollar rally is over. We’re looking for one more drop below parity prior to a larger euro rally. A break of the internal trendline from the wave W and (D) lows, which would be back above last week’s high, would alter the short term … Is the “Trump Risk Rally” Over?
EURUSD The euro has bounced from support just above parity, although we think this bounce is corrective. Given the impulsive nature of the US equity rally, it seems that the policy divergence I’ve so often mocked, may actually prove to come to reality. Certainly, a couple of .25% rate hikes by summer may be the … Yen Short Term Strength, then 175.00
EURUSD Our top two counts suggest the euro will visit parity against the dollar. First, there’s the top count which calls for an immediate collapse, likely having something to do with the banking system or breakup risk coming to the fore. Friday’s big topping tail suggests that prices will immediately head down, and potentially to … Elliott Waves in 2017
EURUSD The euro put in a big reversal bar on Monday after Italy’s referendum. We’re counting the decline from Friday’s high as a three wave move (see below), and that wave (2) completed on Thursday. You can see it retraced between 38.2% and 50% of wave (1), a much more typical retracement than the small … Euro Not Out of the Woods