FxMarketInsider

FxMarketInsider

Not a market top but we sure are close! Nasdaq at 7500 in the next three months the fed will proceed to froward guidance once more. Another game of cat and mouse will ensue

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RESISTANCE 1.4850-1.4800 STOP TRADING BELOW 1.4775 TARGET RANGE 1.49750-1.5150

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USDCAD Inverted head and shoulders Stop below 1.2470 Target level 1.2600

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The cable held the 1.4850 level overnight and looks very bullish going into today's sessions

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GBPUSD Swung higher throughout this morning sessions after pulling back the night before finding support at the 1.4850 level. Current price structure suggests a completed impulse structure under Elliott wave guidelines, with that being said interim support should be around the previous 4th of the lesser degree which is once again the 1.4850 level for the cable.

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Wave 1 impulse completed after FOMC volatility day, Currently in sub wave 4 of wave 3 and or c advance

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AudJpy Triangle Break

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Todays FOMC gathering brought more than enough volatility for currency traders today, The pound rallied sharpley after the 2:00 release of the SEP and guidance on monetary policy normalization. Prices closed to form a bullish outside bar accommodated with a RSI divergence 30 cross. The pound pulled back later on before the close of NY trading unable to clear the...

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AUDJPY 5min analysis before the bell is bearish after rallying throughout Asian sessions last night the AudJpy formed a bearish head and shoulders as well as a bearish bat harmonic. Prices approached the critical 93.00 level only to pull back once again. Prices are currently resisting the head and shoulders neckline and continuing to move lower, Our current stop...

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AUDJPY BAT HARMONIC PATTERN

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GBPUSD Is in the green to begin this weeks trading as prices rallied into today's US manufacturing data which was less than forecast ed as labor market slack and output utilization continue to be a concern for the FED's normalization rate policy. All being said the cable formed a inverted head and shoulders at the end of last weeks trading and then broke the...

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long

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DOUBLE ZIG-ZAG TARGET 93.00 FLAT TARGET 92.800 ^S STOP 93.50 CORRECTIONAL MICRO STRUCTURES (SHORT)

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:Inverted Head And Shoulder :Pitchfork Median Line support :Elliott Wave Zig-Zag ^S stop (120.65)

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Parity is all the talk amongst the financial and corporate pundits these day's, Everyone from CITI to GOLDMAN is forecasting for the rate to hit 1.00 flat. The deleveraging of 2008 sent the euro and every other global currency plummeting relative to the greenback, Which marked the first wave of king dollar and the deep liquid pools of dollar denominated safe...

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The Euro has slid quite considerably over the past year after the implementation of QE the sell-off has gone into overdrive which is prevalent in extended 5th waves under the Elliott wave theory. The Eur/Usd has traced out a seemingly obvious 5 wave Elliott pattern with sub wave (5) within the larger degree wave 5 currently underway. All being said, Market...

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EURUSD Continues to slide ever closer to parity after breaking out if the 1.1500-1.1200 range. After breaking the lower trend line of the barrier triangle formation prices continue to slid with no support level in sight. No reason to try and catch a falling knife waiting for a considerable rally to try and position to the upside.

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GBPUSD Continues to sell off after completing a corrective 5-3-5 price structure. After the break of the constricting wedge pattern the cable has slid restlessly to the downside blowing past the 1.50 support level which was the start of the previous inverted head and shoulders pattern. Technical s suggest further downside as the cable continues to move in lock...