It is likely that the AUDUSD pair will form a bearish triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ in the long term, where the primary wave Ⓩ is a simple zigzag (A)-(B)-(C). The intermediate wave (B) of this zigzag Read more…
The Nasdaq 100 steadies as traders await November’s reading on the US labour market. On the daily chart, the index has found solid support over the 20-day moving average (11500) next to the previous double Read more…
The Japanese yen rallied after BoJ officials hinted at a potential exit of QE. On the daily chart, a fall below the double bottom by the June and August lows around 102.00 may cause a Read more…
The US dollar continues to soften after October’s PCE showed a deceleration. The pop above the high of 0.6290 is a confirmation that the bulls are still in control after a short-lived correction. Strong momentum Read more…
Markets Yesterday, the post-Powell bond rally simply continued as markets read US data as supporting the case for the Fed to slow its anti-inflationary campaign in December and maybe also at Q1 2023 meetings. US Read more…
Short term Elliott Wave View in Gold (XAUUSD) suggests the rally from 9.28.2022 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from 9.28.2022 low, wave 1 ended at 1729.46 and pullback Read more…
Asian Indices: Australia’s ASX 200 index fell by -52.9 points (-0.72%) and currently trades at 7,301.50 Japan’s Nikkei 225 index has fallen by -474.72 points (-1.68%) and currently trades at 27,751.36 Hong Kong’s Hang Seng Read more…
Sentiment was mixed at yesterday’s trading session. Equity bulls were timid, while the dollar bears were in charge of the market after the latest PCE data, which is the Fed’s favorite gauge of inflation showed Read more…
Market movers today It’s time for US Nonfarm Payrolls, which is one of the key data points for the Fed going into their next FOMC meeting on 14 December. We expect US job growth to decline Read more…
Daily Pivots: (S1) 164.52; (P) 165.87; (R1) 167.23; More… Intraday bias in GBP/JPY remains mildly on the downside for 163.02 support. Break there will resume the whole decline from 172.11 and target 159.71 support next. Read more…