ForexInflux

The USD/JPY currency pair has recently witnessed a significant bullish move, extending its upside rally from the 151.86 level to as high as 155.69. This surge in momentum suggests that further gains could potentially be on the horizon for the pair. The next target for the bulls is the 156.50 level, followed by the 158.00…

Watch now (free): The Elliott Wave Crash Course

May 8, 2024

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in Trading Courses

It’s always a good idea to get a refresher on the basics of Elliott wave analysis. With that in mind, our friends at Elliott Wave International have just released 3 videos that teach you the Why, What and How of wave analysis. It’s a $45 value, but you get it FREE – so, start watching now >> Who is…

NAS100: Navigating the Corrective Bounce and Potential Trend Continuation

May 8, 2024

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in Stock Market Analysis

The NAS100 index has witnessed a notable bounce, extending from the 16973 level to as high as 18170. However, this upward move is likely a corrective phase within the broader downtrend that commenced from the 18488 high. After this corrective rally, another decline in the NAS100 could potentially be on the horizon. On the downside,…

USDCHF at a Crossroads, Key Support Level in Focus

May 7, 2024

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The USD/CHF currency pair has witnessed a significant development, breaking below the rising trend line on the daily chart. This bearish move has brought the pair towards a crucial support level at 0.8997. As long as the 0.8997 support holds firm, the recent pullback from the 0.9223 high could be viewed as a consolidation phase…

USDJPY Bounces Back, Eyes Further Upside Potential

May 7, 2024

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The USD/JPY currency pair has witnessed a significant price action, extending its downside move from the 160.21 level to as low as 151.86. However, the subsequent bounce from this low has reached as high as 154.52, suggesting that the downside move from 160.21 has likely completed. With this development, further rallies in the USD/JPY are…

Why You Should Pay Attention to This Time-Tested Indicator Now

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in Trading Courses

By Elliott Wave International Paul Montgomery’s Magazine Cover Indicator postulates that by the time a financial asset makes it to the cover of a well-known news weekly, the existing trend has been going on for so long that it’s getting close to a reversal. A classic case in point is this Time magazine cover from…

USDCNH Breaks Key Support, Downside Risks Emerge

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The USD/CNH currency pair has witnessed a significant bearish development, breaking below the critical 7.1713 support level. This breakdown suggests that the recent upside move from the 7.0869 low has likely completed at the 7.2826 high. With this bearish signal, further declines in the USD/CNH could be on the horizon in the coming days and…

Five Major Economic Events to Watch This Week

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in Market Insights

As we kick off a new week, let’s take a look at five major economic events that markets will be closely watching:

AUDUSD Extends Rally, Eyes 0.6720 Target Amid Rising Channel

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The Australian dollar has witnessed a significant bullish move against the US dollar, with the AUD/USD currency pair breaking above the 0.6586 resistance level and extending its upside move from the 0.6361 low to as high as 0.6646. This rally has propelled the AUD/USD into a well-defined rising price channel on the 4-hour chart. As…

GBPUSD Breaks Out, Bullish Momentum Builds

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The British pound has witnessed a significant development against the US dollar, with the GBP/USD currency pair breaking above the falling trend line on the 4-hour chart. This bullish breakout suggests that the previous downside move from the 1.2893 level has likely completed at the 1.2299 low. With this development, the initial support for the…

EURUSD Faces Critical Juncture After Testing Trend Line Resistance

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