DXY Elliott Wave View: Bounce in progress

DXY is correcting cycle from 7/10 peak in 3, 7, or 11 swing and while pivot at 7/10 peak at 96.2 remains intact, expect Index to resume lower

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USDX Elliott Wave View: Correction in progress

Short term USDX (USD Index) Elliott Wave view suggests the rally to 97.88 high on 6/20 ended Intermediate wave (X). Decline from there is unfolding as an impulse

Technical forecast for AUD/USD

AUDUSD made it to resistance at 9440/50 which did hold the move as expected. We dipped to good support at 9381/77 which could hold the downside today but

Technical forecast for GBP/USD

GBPUSD broke 1.6077 but bounced from 1.6055. There is no direction this week so we watch for support at 1.6095/90 then 1.6055/45. Below 1.6030 keeps the market under

Technical forecast for AUD/USD

AUDUSD will need to hold above 9390 for a chance to retest yesterday's high at 9418. Above here today we hit resistance at 9440/50 which should hold the

Technical forecast for GBP/USD

GBPUSD could not sustain a break above 1.6140 & saw a drift lower towards 1.6070 which was expected to hold & we bottomed almost exactly here at 1.6077.

Technical forecast for EUR/USD

EURUSD held support at 1.3325/20 & held 1.3370/80 all through the session until the FOMC announcement. We then tore through August highs at 1.3450 to reach 1.3541. We

Technical forecast for GBP/USD

GBPUSD held trend line support at 1.5895/85 & shot higher on the FOMC to reach 1.6163. A break above 1.6178 today signals further gains towards a target of

Technical forecast for USD/JPY

USDJPY broke 98.25/20 to reach 97.73. We are now testing resistance at 98.41 but above 98.50 allows a move towards resistance at 98.77/83. This area could hold the

Technical forecast for USD/JPY

USDJPY recovered above support at 98.76/70 & has beaten resistance at 99.15 as we look to 99.45/50 for a selling opportunity with stops above 99.75. We can then