In this video I want to look at some basics of Elliott Wave analysis and how to spot top/bottom or reversal of a trend. There are specific patterns that can help us define useful set-ups for potential trade idea.
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Editors’ Picks
EUR/USD eases below 1.0300 ahead of ECB Minutes, US data
EUR/USD is falling back below 1.0300 in European trading on Thursday. Despite risk appetite and a softer US Dollar, the pair struggles due to dovish ECB-speak and Eurozone's economic woes. The focus now remains on the ECB Minutes and high-impact US data.
GBP/USD holds losses around 1.2200 after dismal UK data
GBP/USD is battling 1.2200 in the European session on Thursday. The pair faces headwinds from disappointing UK GDP and industrial figures for November, increased bets of BoE rate cuts and a steady US Dollar. US Retail Sales and Jobless Claims data are next on tap.
USD/JPY rebounds toward 156.00 despite BoJ Ueda's remarks
USD/JPY recovers toward 156.00 n Thursday's Asian trading, bouncing off fresh monthly lows near 155.20. Despite the upswing, the pair stays heavy as the Japanese Yen finds support from the prsopects of a BoJ interest rate hike next week. Latest BoJ Governor Ueda's comments support rate hike odds.
Editors’ Picks
EUR/USD eases below 1.0300 ahead of ECB Minutes, US data
EUR/USD is falling back below 1.0300 in European trading on Thursday. Despite risk appetite and a softer US Dollar, the pair struggles due to dovish ECB-speak and Eurozone's economic woes. The focus now remains on the ECB Minutes and high-impact US data.
GBP/USD holds losses around 1.2200 after dismal UK data
GBP/USD is battling 1.2200 in the European session on Thursday. The pair faces headwinds from disappointing UK GDP and industrial figures for November, increased bets of BoE rate cuts and a steady US Dollar. US Retail Sales and Jobless Claims data are next on tap.
Gold extends recovery on rate cut expectations
Gold’s price edges higher for the third day in a row and recovers initial weekly losses, rising above the $2,700 level at the time of writing on Thursday. The recovery comes in the run-up and release of the December US Consumer Price Index (CPI) data on Wednesday.
Algorand bulls aim for double-digit gains
Algorand price extends its gains, trading around $0.469 on Thursday after rallying more than 19% the previous day. The Algo insights report shows that ALGO’s RWA TVL increased 34.6% and 64.5% of the year’s follower growth on X.
Eurozone industrial production ticked up in November
The slight 0.2% rise in production from October is insufficient to indicate a reversal of the two-year downward trend. Overall, the outlook for industry remains quite weak at the start of the year.
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