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GBPUSD: Bearish Correction (B) Is Half Completed
It is assumed that the GBPUSD pair can build a corrective cycle wave IV.
Intraday Analysis – Gold Remains Under Pressure
The Swiss franc recouped some losses after a lift in the Q1 GDP. As the pair grinds its way up from 0.8830 near January 2021’s lows, a bullish MA cross on the daily chart is a sign of stabilization.
EU Inflation Rate Ahead Of ECB Decision
The ECB will meet in a couple of weeks amongst growing doubt it will deliver on as much tightening as officials claim.
EURUSD Final Minor ABC Zigzag Underway
For the EURUSD pair, we can see the formation of the correction IV inside the large impulse. Cycle wave IV most likely takes the form of a primary double zigzag Ⓦ-Ⓧ-Ⓨ.
Intraday Analysis – JPY Sees Limited Support
The Japanese yen bounced after a lower-than-expected unemployment rate in April.
USOIL Intermediate Correction Begins Bearish Impulse
The formation of a large bearish trend continues, taking the form of a triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ.
Intraday Analysis – GBP Still Under Pressure
The US dollar advanced after consumer spending grew more than expected in April. The price action is still looking to regain a foothold after breaking above the double top at 1.2440.
BOJ Shifting Tone On YCC?
The USDJPY bumped against the technically important 140.00 handle, and the Japanese government took notice.
Intraday Analysis – USD Tries To Recover
The US dollar climbed as data showed a resilient economy despite a restrictive rate environment. A break above the daily supply zone around 137.50 has put the dollar back on track as selling interests stepped aside
NZDUSD Intermediate Impulse Begins!
We talked about NZDUSD three weeks ago. The pair presumably builds a correction zigzag pattern consisting of three primary waves Ⓐ-Ⓑ-Ⓒ.
Germany Enters Recession, Who’s Next?
This morning, Germany published the final version of its Q1 GDP figures, showing negative growth.
USDCAD Triple Or Double Zigzag?
The USDCAD pair is currently forming a global triple zigzag with cycle waves w-x-y-x-z.
Intraday Analysis – Kiwi Turns Lower
The New Zealand dollar plunged after the RBNZ put an end to its interest rate hikes.
FOMC Minutes And Debt Ceiling
While headlines are dominated by the brinkmanship over spending playing out in Washington, the Fed will release the minutes from the last FOMC meeting.
AUDUSD Double Zigzag Hits Fresh Lows!
The AUDUSD pair is building a large cycle correction b. This has the structure of a primary double zigzag Ⓦ-Ⓧ-Ⓨ.
Intraday Analysis – Gold Tries To Bounce
The US dollar finds support from recovering Treasury yields in the wake of hawkish Fed comments lately.
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