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
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