The DOW rallied to the upper trend line as expected, and so far the decline off todays high looks like a developing impulse wave to the downside. todays high at 21022 is now an important resistance level in terms of the immediately bearish wave count. If that high holds, and the price starts to decline below support at 20777, that will add serious weight to the bearish outlook.
Posted in: Premium Elliott Wave Analysis,
: In a relatively quiet trading session, EUR/USD was confined to a tight 40 pip.Data was not supportive as core consumer price growth in the Eurozone eased.ECB's Liikanen came across the wires today with somewhat of a mixed message, indicating that growth in the Eurozone was becoming more broad based but inflation targets are still yet to be met and stimulus was still necessary at this point in time. Nonortheless, EURUSD continued its upwards movement and closed the day at 1.0760 - highest since 6th Feb.
Posted in: Premium Daily Technical Analysis,
USD corrected to the upside after losing value post FOMC. All major USD crosses showed a minor correction apart form commodity currencies AUD & NZD. Kiwi has been in a major down spiral since RBNZ indicated possible rate hike in the nearest future. Since then the pair dropped from 0.73 to 0.68.
Posted in: Premium Trading Signals,
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