Adnan

Adnan

The BoC’s (Bank of Canada) to reduce interest rates came as a bit of a surprise, but has given impetus to the US$ to extend its bull run against the loonie. The interest rate hike came early July, when the market was caught brooding ( as shown by the higher upper whisker of the candle just prior to interest rate increase – the formation is somewhat akin to a...

Adnan

Reviewing the daily time frame the pattern is a 5 wave upward gradient channel pattern possibly in an intermediate 5th wave. The long legged doji shows a point of hesitation and a possible reversal in intermediate currency trend movement. Well, this coupled with the fact that stochastic is reaching an overbought level and the MACD is also poised for reversal as it...

Adnan

Reviewing the daily time frame the pattern is a 5 wave upward gradient channel pattern possibly in an intermediate 5th wave. The long legged doji shows a point of hesitation and a possible reversal in intermediate currency trend movement. Well, this coupled with the fact that stochastic is reaching an overbought level and the MACD is also poised for reversal as...

Adnan

A complex correction setting the base for a move down to wave Y to complete the WXY pattern. The complex correction should form the basis of primary wave 2. From here there are technical grounds for upward currency exchange rate trajectory. You may review the following for detailed fundamental analysis: technical-forex.com

Adnan

A five wave pattern on a 1 hourly chart shows that there would be a partial reversal of price movement, taking the parity to possibly 125 before a primary wave move up. This would constitute to wave B of the primary wave corrective pattern. For detailed fundamental analysis you may review technical-forex.com

Adnan

While the target remains the 100 level, an appreciation of more than 5%, will follow after an initial correction, as shown in the Elliott Wave Analysis. The news of QE did send ripples through the market, and Dollar's main counterpart, Euro plunged. But as explained this final dip in counterpart currency was at a technical precipice, and it appears for now at...

Adnan

US Dollar Index has reached a point of technical correction. It is overbought and the momentum as shown by the MACD is at a precarious level which would not allow it to continue in the interim period. This should give Euro some breathing space for now! For detailed fundamentals you may follow the link below.

Adnan

With the ECB QE plan inaction around the corner, it appears that Euro may come under further pressure which may push it further down to a new psychological level of around a 1:1 parity with US$, which may seem an unprecedented low level given recent performance. But from a technical perspective perspective this still seems a big stretch. This means that the...

Adnan

The massive Euro correction that took place in mid 2014 could possibly be nearing its initial end with the completion of the 1st corrective wave A. This should be in line with macro-economic fundamentals, given a positive message emanating from Euro Zone with Mario Draghi's last ditch plan of QE, that could bring about composition of debt restructuring in the...

Adnan

First this pattern appears quite difficult to read. But once you put the targets into perspective, one witnesses that the primary wave 3 (iii) is an exact 1.618 Fibonacci extension of wave 1 (i). By this token if the count ratio of 1:1.618:1 is to hold, then the next primary wave high is going to be ~ 1.64 level, which is a hefty ~1100 pips gain. I would...

Adnan

A simplistic 5 wave Elliott pattern shows that the imminent 5th motive wave is on the horizon. As can be seen that the oscillation from overbought to oversold Stochastic RSI has had minimal impact on the price action, which forebodes of a bullish Aussie against the loonie. This would mean the formation of a reasonably bullish price action. Fibonacci ratio's of...

Adnan

The medium term remains on a neutral to a slightly bearish outlook, as the Aussie, contrary to mass expectation, is poised strongly against most currencies. This brunt should also be felt against the GBPound, against which the Aussie should appreciate in the short term, after emerging from a complex corrective pattern. As of now a contracting (more likely) or...

Adnan

The price action not breaching the upper bollinger band suggests that upward bias has temporarily wrested. The price action going below the Moving average (MA) line should be a decisive clue for softening of this currency pair. Both technical indicators exhibits a bearish outlook as the line bounces off the horizontal resistance line of 1.56-1.57.

Adnan

The price action not breaching the upper bollinger band suggests that upward bias has temporarily wrested. The price action going below the bollinger Moving average line should be a decisive clue for softening of this currency pair. Both technical indicators exhibits a bearish outlook as the line bounces off the horizontal resistance line of 1.56-1.57.

Adnan

The primary wave pattern shows, that the Aussie should on the verge of completing its 5 EW pattern against the CAD$. Therefore a final rally of around 400-500 pips can ensue completing this pattern. In the meantime a minor correction, before the final wave up, should be on the onset. Having said this, the count of 1.062, remains not activated and a break above...

Adnan

After the initial break below the 45 degrees line of support, the second 45 degree line S1is acting as support. At an intermediate time horizon, price action, has remained bullish, as the 45 degree line of resistance has been broken, shown by the flag. Therefore, at an intermediate level, the Aussie may strengthen, but long term technicals could favor the yen. ...

Adnan

After the initial break below the 45 degrees line of support, the second 45 degree line of suppot is acting as support. At an intermediate time horizon, price action, has remained bullish, as the 45 degree line of resistance has been broken, shown by the flag. Therefore, at an intermediate level, the Aussie may strengthen, but long term technicals should...