The AUDUSD is stretching to a new session low after an up-and-down trading day that has seen the price work lower in steps. The day started with a test of the 100-hour and 100-day moving averages near 0.7038. Sellers leaned against that resistance and pushed the price lower. Initial declines toward 0.7014 and then 0.6998 […]
AUDUSD trades to a new low and looks to test a swing area target Read More »
The 4-hour wave structure for EUR/USD has become more complex. On the higher timeframe (lower chart), the downward section of the trend has taken the form of a five-wave structure, A-B-C-D-E, which could be completed at any time, as it appears to be fully developed. All the waves in this section are approximately equal in
EUR/USD Analysis – November 2: Market Uncertainty Ahead of the US Elections Read More »
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The USDCHF is trading near session lows after breaking below its 100-hour moving average at 0.82758. That break gave sellers the technical go-ahead to push lower, with the decline extending to 0.8257, right at the 200-hour moving average. The price has since edged back to around 0.8262, leaving traders with a clearly defined battle between
USDCHF tests key support as sellers challenge the 200-hour moving average Read More »
EUR/USD resumed its decline even before the ECB and Fed meetings, before the inflation releases from Germany and the United States, and before the GDP reports from Germany, the European Union, and the United States. It is worth recalling that the previous bearish advance lasted a full 25 trading days, during which the euro lost
EUR/USD – Smart Money Analysis: The Fed and the ECB Leave the Euro Under Pressure Read More »