Now that DXY is parked at 100 (which is very significant), two camps of traders will be looking at 1) trend continuation 2) reversal. But wait! There is a third possible outcome.
Now, at the start of 2017, we’re seeing other markets — like bonds and crude oil, to name just a couple –where the activity of the “commercials” is lining up beautifully with the Elliott Wave model, implying big moves ahead.
What do you do when you have a question in your head like ‘I want to short JPY but I don’t know which JPY cross is the best trade?’ To pick the winning forex pair that will give you the best performance for your trade idea, one way is to build an overlay. #forextip
Although XAUUSD will probably do another leg down, signs are in place for a big up wave. Last year’s new 52-wk high has terminated 2013 – 2015 down trend.
Hang Seng fever for SZHK is officially over. Hang Seng Index comes back to reality, converges with SiMSCI, realign their highly correlated movement.
I look at price action of USD to forex majors in 2016. The whole action can be described in 4 sentences. But to sum it up, 2016 was all about ‘Brexit, POTUS, GBP and the Japanese Yen’.
What Elliott Wave charts say about EURUSD according to the folks at Elliott Wave International.