Short Term Elliott Wave in S&P 500 Futures (ES_F) suggests that cycle from 7.27.2023 high has ended with wave (4) at 4235.5. The Index has turned higher in wave (5). The rally is currently in Read more…
Cable is holding around 1.23 handle in early Thursday, after repeatedly cracking pivotal barrier at 1.2328 (Fibo 38.2% of 1.2800/1.2037 bear-leg, reinforced by falling 30DMA), but the action remains within a narrow range and with Read more…
Asian shares advanced on Thursday following the moderately positive performance from Wall Street overnight as dovish Fed minutes and easing oil prices supported risk sentiment. However, markets remain cautious amid mounting geopolitical tensions in the Read more…
WTI futures fail to breach the ascending trendline Oil drops below 50-day SMA towards October low Momentum indicators tilt to the bearish side WTI oil futures (November delivery) had been in a steady advance since July, climbing to Read more…
Markets With only second tier data/news, there was no reason for markets to change course on the new corrective trends. Headline US PPI was marginally stronger than expected (0.5% M/M, 2.2% Y/Y vs 0.3% & Read more…
Daily Pivots: (S1) 182.86 (P) 183.31; (R1) 184.12; More… Intraday bias in GBP/JPY stays on the upside for the moment. Pull back from 186.75 should have completed 178.02 already. Stronger rally would be seen back Read more…
Daily Pivots: (S1) 157.80; (P) 158.13; (R1) 158.75; More…. Break of 158.46 resistance indicates that corrective pull back from 159.75 has completed with three waves down to 154.32. Intraday bias is back on the upside Read more…
Daily Pivots: (S1) 0.8613; (P) 0.8628; (R1) 0.8640; More…. Downside momentum in EUR/GBP is not too convincing as seen in 4H MACD. But with 0.8654 minor resistance intact, further decline is expected, for 0.8568 support. Read more…
Daily Pivots: (S1) 1.6492; (P) 1.6533; (R1) 1.6599; More… Intraday bias in EUR/AUD stays neutral for the moment. Sideway trading might continue further. On the downside, below 1.6446 minor support will bring retest of 1.6319. Read more…
Daily Pivots: (S1) 0.9561; (P) 0.9581; (R1) 0.9599; More… Intraday bias in EUR/CHF remains neutral, and deeper decline is in favor with 0.9613 resistance intact. Below 0.9557 will resume the fall from 0.9691 and bring Read more…