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Market Insight: USDJPY Completes a 5-Wave Rally

Vadim Pokhlebkin — Thu, 16 May 2013 17:15:00

On May 15, just as EURUSD broke below the psychologically important price level of 1.30, USDJPY staged a rally. The mainstream forex news sources cited various fundamental factors for the dollar strength/yen weakness. Yet, as you have probably noticed, those explanations almost always make perfect sense -- but only after the fact.

EURUSD Drops Below 1.30... Why, Again?

Vadim Pokhlebkin — Thu, 16 May 2013 16:30:00

It's official: The euro zone economy has now been in the longest recession since the EUR was introduced in 1999. That news hit the wires on May 15. No wonder EURUSD, the euro-dollar exchange rate, fell that day as the U.S. dollar took the upper hand. But let's take a look at what happened from an Elliott wave perspective...

EURUSD: Lots of Ups and Downs, Zero Net Progress

Vadim Pokhlebkin — Thu, 09 May 2013 14:30:00

Here's what's interesting. Since the start of May, the euro bulls have tried to rally EURUSD higher at least five times. On May 8, we saw the latest attampt at a rally. It went as high as 1.3195. Then on May 9, the market fell again. That has been the fate of every rally, so far ...

While EURUSD Lags, Other Forex Markets Are on the Move

Vadim Pokhlebkin — Tue, 07 May 2013 18:45:00

If EURUSD were a cardiac patient, this is the moment when the doctor would give the order: "Do not attempt to resuscitate." Seriously, take a look at what the euro has done since the start of this month...

EURUSD: Post-Fed, Post-ECB Market Insight

Vadim Pokhlebkin — Fri, 03 May 2013 17:00:00

Our May 1 story "EURUSD: The First Shoe Drops" said that the world's most-popular forex pair was about to turn lower, after finishing a 5-wave upward move. EURUSD topped the same day at 1.3243, and since then has lost about 200 pips -- so far...

EURUSD: The First Shoe Drops

Vadim Pokhlebkin — Wed, 01 May 2013 16:45:00

Gotta love "the Fed talk" -- as in, the central bank's statement on Wednesday afternoon: "The committee is prepared to increase or reduce the pace of its (bond) purchases to maintain appropriate policy accommodation as the outlook for the labor market or inflation changes." Let's translate that...

EURUSD: Big Week Ahead

Vadim Pokhlebkin — Mon, 29 Apr 2013 17:15:00

Two news stories from Europe hit the headlines Monday morning (Apr. 29). One: Italy finally ended its political chaos and swore in the new government. Two: The eurozone economic confidence fell more than expected. EURUSD, the euro-dollar exchange rate and the most traded forex market, rose on Monday. But pretend for a second that you didn't know that. Try this instead...

EURUSD: Below 1.30, Again

Vadim Pokhlebkin — Tue, 23 Apr 2013 21:00:00

On April 23, the world's most traded forex pair slipped 20 pips below the psychologically-important level of 1.30. Predictably, analysts blamed the sell-off on a fundamental factor -- namely, a weak economic report from Germany. A fine explanation indeed, yet one question remains: Now that we know why EURUSD fell, where will it go next?

USDJPY: Will It?..

Vadim Pokhlebkin — Mon, 22 Apr 2013 15:45:00

To answer this question from an Elliott wave perspective, you need to study the wave patterns in USDJPY. Let's take a look...

Market Insight: GBPUSD Enters a Strong Sell-Off

Vadim Pokhlebkin — Fri, 19 Apr 2013 17:45:00

"Britain’s pound depreciated versus most of its major peers after Fitch Ratings downgraded the U.K.’s long-term credit rating one step to AA+ from AAA," reported Bloomberg on April 19. The day before, our Currency Specialty Service posted the following forecast...

Are Successful Forex Traders Just REALLY Lucky?

Vadim Pokhlebkin — Wed, 17 Apr 2013 14:30:00

In 2004, in a speech before the Economic Club of New York, the former Federal Reserve Chairman Alan Greenspan compared successful currency traders to "winners of coin-tossing contests." Fair? No? You decide ...

Video: "GBPUSD: Why We Knew Cable Was Going Higher, and Where It Should Go from Here"

Vadim Pokhlebkin — Fri, 12 Apr 2013 16:15:00

Once a week on Fridays, our Currency Specialty Service editor, Jim Martens, records a video update for his subscribers. The goal of each forex video is to bring attention to a promising market opportunity, as well as deliver an Elliott wave lesson. On April 5, Jim recorded the video you are about to see...

EURUSD Hits the Elliott Wave Price Target

Vadim Pokhlebkin — Wed, 10 Apr 2013 13:30:00

On April 4, EURUSD, the world's favorite forex pair, fell to another new low for 2013 – but only by 6 pips! You have to ask yourself: Why didn't the U.S. dollar muster the strength to push the euro lower than 1.2750? After all, the euro's fundamentals have been less than rosy. This insight offers some answers ...

USDJPY: How Much Higher Will It Go?

Vadim Pokhlebkin — Tue, 09 Apr 2013 16:00:00

"Yen Weakens Beyond 99 per Dollar for First Time Since May 2009," said an April 8 headline. True, USDJPY, the dollar-yen exchange rate and a popular forex pair, has been on fire -- for months. This chart shows you just how huge the rally in the U.S. dollar -- and the weakness in the yen -- have been...

Forex: Don't Write Off The Euro Just Yet

Vadim Pokhlebkin — Thu, 28 Mar 2013 16:00:00

Despite the "success" of the Cyprus bailout, the sentiment towards the euro zone currency, the euro, has been negative. EURUSD, the euro-dollar exchange rate, fell to a new low for 2013. But while "everyone knows the euro is going lower," read this recent tweet by EWI's senior currency strategist...

Market Insight: Euro Hits New Low for 2013

Vadim Pokhlebkin — Mon, 25 Mar 2013 18:00:00

On Sunday night (Eastern time, March 24), EURUSD, the euro-dollar exchange rate and the world's most-traded forex market, saw a lot of volatility. The euro first fell 50 pips, then jumped 100, then fell hard again. Without a doubt, these gyrations looked chaotic to many forex observers. Yet we are proud to say ...

Cyprus, the Euro – and Elliott Waves

Vadim Pokhlebkin — Fri, 22 Mar 2013 16:45:00

Right now, the number one forex story is the banking crisis in Cyprus. Cyprus is part of the European Union, so it shares the euro with the rest of the EU. We could speculate on how the outcome of the bailout deal might affect the euro, but our forte is wave analysis and other supporting technical indicators. So let's take a look.

"Kaboom!" Goes the Euro

Vadim Pokhlebkin — Mon, 18 Mar 2013 17:15:00

On the heels of the news from Cyprus, EURUSD, the euro-dollar exchange rate and the most-traded forex pair, went into a tailspin. The mini-collapse was a sight to behold. Well, to be exact, there was literally nothing to see: On a 15-minute chart, the downward gap was just a blank space. Take a look.

Forex Video: See Why GBPUSD Offered This Great Opportunity

Vadim Pokhlebkin — Wed, 13 Mar 2013 17:30:00

On February 8, GBPUSD (a.k.a. "cable") was trading near 1.5800. A month later, on March 12, cable hit a low of 1.4836. That was a massive, 1,000-pip bearish opportunity. Watch the editor of EWI's forex-focused Currency Specialty Service, Jim Martens, explain what alerted him to that upcoming sell-off.

USDJPY: Putting the News Into Elliott Wave Context

Vadim Pokhlebkin — Tue, 12 Mar 2013 23:15:00

Like most traders, you probably watch market news closely. But wave analysis helps you put the news in the right context. Take the drop in USDJPY on March 12...