With a chart going back to 1994, this long-lasting EURAUD resistance zone probably qualifies for a 'generational' level. Keep in view. EURAUD could be capped below this zone for quite a while.
It appears there is a big divergence between the usually highly correlated HSI, SiMSCI and AUDJPY. Who is smarter? The stock market or the forex market?
Call them milestone levels but I hope these levels stopping EURUSD, NZDUSD and AUDUSD will finally be broken to shift the market into a new phase. Otherwise we are stuck in this range since 2015 till date.
An interesting technical level to watch for EURUSD. For some reason, it has trouble staying North of this red line save less than 3 months (March - May 2016) in the last two and a half years.
3 charts DJ30, China A50 and USDCNH. Price action does not seem like business as usual for me. Let's hope they don't set off some chain reaction that will come back to bite.
The euro's recent surge to two-month highs against the pound fit its Elliott wave blueprint beautifully. Sponsored content by Elliott Wave International.