“There is a long-standing myth that the interest rate market follows the Central Bank but in truth the evidence over a long time shows the opposite. Central Banks follow the market.”
The euro’s recent surge to two-month highs against the pound fit its Elliott wave blueprint beautifully. Sponsored content by Elliott Wave International.
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 Elliott Wave charts say about EURUSD according to the folks at Elliott Wave International.
Last week’s shocking spike in crude oil prices is +12% and counting, the biggest one-week gain in five years. Media stories blame one culprit: the November 30 OPEC agreement to cut production. The weeks leading up to the meeting were filled with anticipation and emotion. Oil prices went all over the place — down 4% one day, 3% the next. Yet, those fluctuations weren’t random.