AUDJPY is trading nicely down after seven swing corrective rally to 93.00, where wave Y was equal to wave W. So far we can see a strong turn down which looks like an impulse that also took out the lower side of a corrective channel so more weakness can be seen here after the current intraday bounce. Nice resistance is at 90.00, where broken trendline can become a resistance.
Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.
By using Wavetraders website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.wavetraders.com are provided for informational and educational purposes only!
By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.
Recommended Content
Editors’ Picks
EUR/USD continues to push higher toward 1.0800 on broad USD weakness
EUR/USD preserves its bullish momentum and continues to push higher toward 1.0800 on Tuesday. The positive shift witnessed in risk sentiment doesn't allow the US Dollar to find demand and helps the pair push higher. Existing Home Sales will be featured in the US economic docket.
GBP/USD recovers from session lows, trades above 1.2250
GBP/USD has gained traction and recovered above 1.2250 on renewed US Dollar weakness on Tuesday. Ahead of the Fed's and the BOE's policy announcements, however, the pair seems to be having a difficult time gathering bullish momentum.
Gold drops below $1,970 as US yields push higher
Gold price extended its daily slide and declined below $1,970. The benchmark 10-year US Treasury bond yield is up nearly 2% on the day above 3.5% on improving risk mood, forcing XAU/USD to stay under bearish pressure ahead of Fed's policy decisions on Wednesday.
If Fed’s money printer goes brrr… will Bitcoin price hit $1 million?
Bitcoin has taken front and center stage after it restarted its 2023 rally in March. This resurgence of buying pressure pushed BTC to nine-month highs.
FX thoughts for the week
Do central banks face a conflict between their inflation mandate and financial stability? The markets are still grappling with this question and confidence in the financial sector has not fully recovered. For now, central banks are responding with a conditional no.