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Tags: Elliott Wave, Elliott Wave theory, Forex, Forex Channels, Forex Media, Forex Multimedia, Forex scalping, Forex strategy e-books, Forex TV, Forex VideosThe Japanese yen weakened broadly last week as solid economic data from China boosted investors’ optimism for recovery and risk appetite. S&P 500 broke January’s high of 1150 briefly before closing 1149.99. Nikkei also managed to rise 382 pts to close at 10751. There were also additional pressure to yen…
Sphere: Related ContentEUR/USD’s consolidation from 1.3443 continued last week and rose further to as high as 1.3795. Initial bias remains on the upside this week and stronger rise could be seen. But after rally, we’re expecting strong resistance at 1.3852 (38.2% retracement of 1.4578 to 1.3443 at 1.3861) and bring fall resumption…
Sphere: Related ContentDespite edging higher to 91.08 last week, USD/JPY lose momentum with bearish divergence conditions in 4 hours MACD and RSI and made a short term top there. Initial bias is neutral this week and some consolidations should be seen below 91.08 first. Nevertheless, downside should be contained by 89.62 cluster…
Sphere: Related ContentGBP/USD’s consolidation from 1.4783 continued last week with another rise to above 1.5194 resistance. Initial bias remains mildly on the upside this week and further recovery could still be seen. But after all upside is still expected to be limited by 38.2% retracement of 1.6456 to 1.4783 at 1.5422 and…
Sphere: Related ContentUSD/CHF dropped sharply to as low as 1.0575 last week and initial bias remains on the downside this week for rising trend line support (now at 1.0448). While the fall from 1.0897 is deeper than we originally thought, there is no change in the view that it’s a correction in…
Sphere: Related ContentEUR/GBP edged higher to 0.9132 last week but failed below 0.9137 retreat and retreated sharply. The development suggests that consolidation from 0.9137 is still in progress and fall from 0.9132 should extend further to retest 0.8980. Nevertheless, we’d expect downside to be contained by 38.2% retracement of 0.8662 to 0.9137…
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The British pound had a positive performance before the weekend as both domestic and international scenario brought favorable news and consequently traders to purchase assets in the country, as a real estate report revived confidence towards U.K.’s economy.(…)
Read the rest of U.K. Housing Data Boosts Pound’s Rally (124 words)
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Sphere: Related ContentMonday, Mar 15, 2010
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As we suggested last week, risk appetites improved a bit further this past week and most risky assets advanced, with the notable exception of precious metals and commodities. In FX, the clear standouts were the JPY crosses, like EUR/JPY, CAD/JPY and AUD/JPY, which all moved above recent highs. Solid data…
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