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Technical analysis

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Combining Fibonacci extensions with Elliott Wave analysis gives a parity target of approximately 2 of Euro Aussie currency pair.  Intermediate wave pattern of the line chart exhibits that a five wave pattern has unfolded from the later part of 2012, traversing all the way to a peak and then correcting all the way through 2015.  [...]

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There are still ominous signs for the Euro against the Yen.  Not because the Yen has been very strong of late and has continuously appreciated against the Euro.  Rather the technical pattern has traversed in a way to reveal that it is not near completion at a primary wave scale, looked at from a weekly [...]

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The Euro Dollar currency pair has traded sideways in a channel, but this by far is a corrective pattern viewed from a primary wave perspective.  However, the immediate downward pressure on the Euro is apparent even though there would be some room for temporary stabilization as stochastic traverses from oversold position to the overbought position [...]

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From a technical analysis perspective there is reason to believe that the dollar will finally start shedding some weight in the midst of last quarter of 2016.  This could also be a time congruent to an upward thrust by commodities, chiefly, crude oil. The dollar index currently is traversing through a sideways consolidation movement and [...]

An activated target of 102 seem implausible for now

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The inherent strength of the Japanese Yen was manifested with the head and shoulder pattern that achieved completion at the end of 2015, at a primary wave scale level.  Without much hesitation the dollar began its correction against the yen and has depreciated heavily against this counterpart currency.  From a Point and Figure analysis (Figure [...]

Euro CAD foreign exchange analysis

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Reviewed form a technical analysis perspective there is a strong probability that the Euro should likely strengthen against the loonie in the medium term.  The primary wave pattern shows that a complete Elliott wave cycle has been competed with the XYZ correction just after the 1st quarter of 2015.  After that a new primary wave [...]

USD JPY at a point of inflection!

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The US dollar was caught off guard by robust performance of the Japanese Yen and the greenback depreciated suddenly against the Yen.  A head and shoulder pattern added validity to the overall weakness of the US$.  As per PNF analysis the true price target is in the vicinity of 102 and currently it is way [...]

US $ Index technical analysis-2016

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There is fight left in the greenback which would allow it to remain a dominant global currency at least during the 1st half of 2016.  Two Elliott Wave patterns have been constructed to delineate the US$ index movement.  Primary wave pattern shows that the index is currently traversing along its final leg, which is save [...]

Euro bearish against the yen-Target of 1.25 in sight!

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Technical analysis of Eur JPY pair reveals bearish implication on the Euro in the intermediate term.  As can be witnessed by the pattern formation that Euro is in the last leg of correction against the Yen and this would surely cast a bearish cloud on this currency which could see it drop to a 1.28 [...]

AUD current bullish rally against the CAD near its end

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Primary Elliott wave 3 is an extension by far and sub waves have also unfolded into extensions. While the technical analysis indicators have reached a level which shows that correction is in the offing, but the momentum of wave 3 is not allowing this to occur. For example, given that wave 3 is an extension, [...]