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Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of Ethereum (ETHUSD). As our members know, ETHUSD is showing incomplete sequences in the cycle from the 3977 peak. We have been predicting a price decline. Recently, we got a bounce against the 3650 peak , […]

The post Ethereum (ETHUSD) Incomplete Sequences Calling the Decline appeared first on Action Forex.

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26/01/2024

USD/JPY Signals Downside Correction, US GDP Grew 3.3%

Key Highlights USD/JPY is showing signs of a downside correction from 148.80. It traded below a key bullish trend line with support at 147.75 on the 4-hour chart. EUR/USD is struggling to recover above the 1.0900 resistance zone. The US GDP grew at a 3.3% annual rate in the fourth quarter of 2023. USD/JPY Technical […]
05/07/2024

Elliott Wave Expects EURUSD to Turn Higher

Short Term Elliott Wave in EURUSD suggests cycle from 4.16.2024 low is in progress as a 5 waves impulse. Up from 4.16.2024 low, wave 1 ended at 1.0916. Pullback in wave 2 ended at 1.0664 as the 1 hour chart below shows. Pair has turned higher in wave 3. However, it still needs to break […]
11/06/2024

Gold Wave Analysis

Gold reversed from support level 2300.00  Likely to rise to resistance 2385.00 Gold recently reversed up from the pivotal support level 2300.00 (which stopped the previous waves A, (4) and ii, as can be seen below). The support level 2300.00 was strengthened by the lower daily Bollinger Band and by the 50% Fibonacci correction of […]