Although the Australian dollar rose to 0.9324 this morning, the subsequent sharp retreat from there has retained our bearish count that wave (5) has possibly ended at 0.9407 earlier and further consolidation below this level would be seen with downside bias for test of 0.9131 minor support, break there would…
Tag Archives: downside
AUD/JPY Elliott Wave Analysis
Although the currency pair rebound to 84.22 earlier this month, the subsequent retreat from there has retained our bearish view that top has possibly been formed at 85.30 and further consolidation below there is seen with downside bias for further fall to 78.00 but it is necessary to see a…
AUD/USD Elliott Wave Analysis
Aussie’s retreat after early marginal rise to 0.9407 suggests the wave 5 of C has possibly ended there and although the currency pair has recovered from 0.9060, as long as said resistance level holds, mild downside bias remains for another fall to 0.9060 and possibly 0.9000, however, only break of…
GBP/USD Mid-Day Outlook
GBP/USD’s recovery from 1.6459 extends further and some more rise might still be seen considering that an intraday low is already in place. Nevertheless, risk will remain on the downside as long as 1.6875 resistance holds. A short term top is in place at 1.6875 already. Below 1.6459 will bring…
USD/JPY Mid-Day Outlook
Intraday bias in USD/JPY remains mildly on the downside with 89.14 minor resistance intact. Current fall from 92.31 should extend further towards 88.00 support first. Break there will confirm medium term down trend resumption for 87.12 low next. On the upside, above 89.14 minor resistance will turn intraday bias neutral…