ForexInflux
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USDJPY Market Update: Observing Key Levels
The USDJPY has continued its downward movement, dropping from 147.20 to a low of 139.57. Currently, the pair is moving within a falling price channel on the 4-hour chart. Current Downtrend Outlook As long as the channel resistance remains intact, we can expect the downtrend that started from 147.20 to persist. A breakdown below the…
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Discover What Really Drives Market Action
Jobs report, consumer price inflation data, Fed interest rates decision… NOISE! Everyone waits on the news to tell them what the markets will do. That kind of thinking is backwards. To help you understand what’s really moving the markets so you can get ahead of the news, our friends at Elliott Wave International just updated several of their Must-Read Market…
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EURUSD Update: Key Levels to Monitor
The EURUSD currency pair has recently broken above the 1.1050 resistance level, suggesting that the downward movement from 1.1154 may have concluded at 1.1001. However, it’s important to note that the pair is still constrained within a falling price channel on the 4-hour chart, which indicates a longer-term downtrend that began from 1.1201. Current Market…
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Why We Tip Our Hat to Warren Buffett
By Elliott Wave International Warren Buffett recently acknowledged that he’s playing in overtime in this thing we call life. At 93, the acclaimed investor is still very much in the game and making his moves. Our August Elliott Wave Theorist elaborates: We Are in Good Company We have been steadfastly recommending complete safety in the form of…
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USDCHF Technical Analysis: At a Crossroads
The USDCHF has seen a notable bounce from its recent low of 0.8374, extending all the way up to 0.8532. This upward move has brought the pair to a critical juncture – the resistance of the falling trend line on the 4-hour chart. The Crucial Trend Line This falling trend line is more than just…
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EURUSD Market Analysis: Breaking Below Key Support and What’s Next
The EURUSD has just broken below the critical support level of 1.1026. This breakdown is a significant event that could shape the pair’s trajectory in the coming days. What This Means for Traders The breach of this key support level signals a potential shift in market sentiment. It suggests that bears are currently in control…
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It’s Trader Education Week at Elliott Wave International!
Our friends at elliottwave.com just launched their wildly popular Trader Education Week, and you’re invited! Now through September 11, get practical training that will show you how to apply Elliott waves and spot high-confidence setups. Before the event is done, you’ll get five total video lessons from EWI’s veteran instructors. So, take advantage of this…
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EURUSD Technical Analysis: Key Support and Resistance Levels to Watch
As of now, EURUSD is testing a significant support level at 1.1026. This level is acting as a battleground between bulls and bears, and its outcome could set the tone for the pair’s next major move. Potential Downside Scenarios If the bears take control, here’s what traders should be prepared for: Upside Potential While the…
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EURUSD Market Analysis: Recent Highs and Potential Pullback
The EURUSD has been on quite a journey lately. We’ve seen a significant upward move from 1.1026, pushing all the way up to an impressive high of 1.1154. However, as often happens in the forex market, what goes up must come down – at least temporarily. Signs of a Completed Upward Move The recent pullback…
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GBP/USD Breaks Trend Line: What’s Next?
In a recent technical move, GBP/USD has broken above the falling trend line on the 4-hour chart, signaling that the previous downside movement from 1.3265 has likely completed at 1.3087. With this breakout, there’s potential for further upward momentum in the coming days. The next target to watch is around the 1.3200 level. Should the…
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USDJPY Analysis: Downward Trend Continues
The USDJPY currency pair has recently shown a significant downward movement, dropping from a high of 147.20 to a low of 143.18. This decline has resulted in a break below the crucial support level of 143.44. Currently, the initial resistance is set at 144.20. As long as this resistance holds, we can anticipate that the…
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EURUSD Update: Consolidation at Key Resistance Level
The EURUSD currency pair is currently facing a significant resistance level at 1.1100. As long as this resistance holds, the recent bounce from 1.1026 may simply be a consolidation phase in the ongoing downtrend that started from 1.1201. If this consolidation continues, we could see another decline shortly after. The initial support to watch is…