Peter Kendall of Elliott Wave International joins John O’Donnell and Merlin Rothfeld for the Weekend Edition of Power Trading Radio to talk about Elliott Wave principles.These waves not only impact the financial markets, but can be applied to social elements like Music, Art, Movies and more. This discussion of Socionomics looks at how these trends are working now and how they may drive markets going forward.

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Editors’ Picks

EUR/USD: Corrective pullback approaches 1.0200, Eurozone GDP, Fed Minutes in focus

EUR/USD: Corrective pullback approaches 1.0200, Eurozone GDP, Fed Minutes in focus

EUR/USD treads water around 1.0175, keeping the previous day’s rebound in a choppy trading range during Wednesday’s Asian session, as traders await the week’s key catalysts. Also challenging the pair traders are the mixed concerns surrounding growth and central banks.

EUR/USD News

GBP/USD pokes weekly resistance line around 1.2100

GBP/USD pokes weekly resistance line around 1.2100

GBP/USD picks up bids to extend the previous day’s recovery to 1.2100 during Wednesday’s Asian session. In doing so, the Cable pair approaches a one-week-old resistance line while also portraying the third bounce off the 50% Fibonacci retracement level of July-August advances.

GBP/USD News

USD/JPY leans bullish above 134.00, traces firmer yields ahead of Fed Minutes

USD/JPY leans bullish above 134.00, traces firmer yields ahead of Fed Minutes

USD/JPY holds onto the latest bullish bias while picking up bids to refresh the intraday high near 134.40 as Tokyo opens on Wednesday. The yen pair’s latest run-up could be linked to the firmer yields.The quote ignores the US dollar pullback while trying to justify the mixed data at home and abroad.

USD/JPY News

Editors’ Picks

When is the RBNZ and how it could affect NZD/USD?

When is the RBNZ and how it could affect NZD/USD?

NZD/USD remains pressured towards 0.6300 during the three-day downtrend, down 0.15% intraday at 0.6335 by the press time, as Kiwi buyers brace for the 0.50% rate hike amid a sluggish Asian session on Wednesday.

NZD/USD News

AUD/USD struggles above 0.7000 as traders await Aussie Wage Price Index, FOMC Minutes

AUD/USD struggles above 0.7000 as traders await Aussie Wage Price Index, FOMC Minutes

AUD/USD portrays the market’s anxiety as it seesaws around 0.7020 ahead of the key Australia wage price data and the FOMC meeting minutes on early Wednesday in Asia. The risk barometer pair dropped during the last two days amid recession.

AUD/USD News

Gold stays pressured towards $1,755 ahead of Fed Minutes

Gold stays pressured towards $1,755 ahead of Fed Minutes

Gold price prints a three-day downtrend as it grinds lower around $1,775 during the initial hours of Wednesday’s Asian session. In doing so, the precious metal fades the late Tuesday’s bounce off $1,772 as traders turn cautious ahead of today’s key FOMC meeting minutes.

Gold News

Solana: How high can the X-wave rally?

Solana: How high can the X-wave rally?

Solana price has fallen into a supportive level on the Relative Strength Index on larger time frames. Solana price could rally an additional 80% under conservative macro conditions. Invalidation of the uptrend scenario is a breach of the low at $25.78.

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