"Restaurant Brands Asia Limited" earlier known as "Burger King India" is currently showing a good setup and an upside potential of 45% from CMP. The stock had rallied nearly 60% between March-Sep 2023. This very rise was impulsive in nature and therefore labeled as wave 1 on the chart. Between Sep-Dec the stock went through a triple three correction(WXYXZ) and...
The Australian dollar has started the week in negative territory. In the European session, AUD/USD is trading at 0.6648, down 0.40%. The Australian dollar is coming off a strong week, with gains of 1.38%. The Reserve Bank of Australia is expected to hold rates at 4.35% at its Tuesday rate meeting. The central bank has paused for four straight months and the...
The minutes from the Reserve Bank of Australia's (RBA) Nov. 7 meeting due out on Tuesday at 0030 GMT present a risk to the recent gains in the Australian dollar. At the meeting the bank hiked the cash rate by 25bps to 4.35%, matching expectations. However, the RBA delivered a less hawkish forward guidance, stating that further tightening of monetary policy may be...
The USD, having experienced substantial blows from rate cut projections, faces a challenging scenario with the Fed signaling probable easing. Despite the narrative of falling inflation, policymakers are aiming to relay the message that inflation has yet to stabilize sustainably near the targeted 2%. The looming Fed speeches, particularly Chair Powell's impending...
The Australian dollar has extended its gains at the start of the week. In the European session, AUD/USD is trading at 0.6603, up 0.28%. The Aussie has posted an impressive streak, rising 3.8% against the greenback since November 14th. Australia releases retail sales for October on Tuesday. The consensus estimate stands at a negligible 0.1%, compared to a strong...
The Australian dollar is unchanged on Wednesday, after massive gains a day earlier. In the European session, AUD/USD is trading at 0.6505. Australian wage growth climbed 1.3% q/q in the third quarter, matching the consensus estimate and above an upwardly revised 0.9% gain in Q2. This was the highest gain since records started in 1997, but the spike was largely...
Expecting strength from the Aussie this week, even though the RBA hiked, I think the Aussie was negatively affected by the fall in commodities rates in the past week. I see no strength in the Euro and I think Friday's candle suggests that this pair may not break back into my ascending channel, this could form a double top too. Tuesday EUR GDP data - could be...
We're at the top end of the range for this pair, I am expecting BoJ to start backing its currency. I've recently noticed some negative correlation between USDJPY and the other XXXJPY crosses, so where USDJPY falls the others have been more bullish. That said if the BoJ get involved it will tank all of them. I'm not 100% what I really think will happen here, I...
The Australian dollar might give back most of its recent gains against the U.S. if the Reserve Bank of Australia opts not to raise rates next week, given the groundswell of opinion backing a hike. Thirty-five out of 39 economists polled by Reuters expect the RBA to increase rates on Nov. 7, with only four predicting a hold. All of the “Big Four” Australian banks...
The AUDUSD fell from the 0.6480 level following the RBA's decision to hike rates by 25bps on Tuesday. The retracement failed to break above the 38.2% Fibonacci retracement level, forming a head and shoulders pattern on the AUDUSD. Anticipating recovery in strength on the DXY, look for the AUDUSD to break below the neckline at 0.6415 to signal further downside,...
The New Zealand dollar is down sharply on Tuesday. In the North American session, NZD/USD is trading at 0.5927, down 0.61%. It has been a roller-coaster ride for the New Zealand currency, which continues to swing wildly. Last week, NZD/USD surged 3.24%, its best weekly performance since October 2022. This week has been all red for the New Zealand dollar, which has...
We are about 8 hours away from the latest Reserve Bank of Australia interest rate decision. That decision is due on Tuesday at 2:30 pm (local Aussie time), a couple of hours before the country's biggest horse race, the Melbourne Cup ($8 million in prize money) is set to take place. But perhaps the more exciting match ups will be occurring in the forex market....
The Australian dollar has edged lower on Monday, after huge gains on Friday. In the North American session, AUD/USD is trading at 0.6499, down 0.21%. On Friday, the Aussie posted spectacular gains, rising 1.22% and hitting its highest level since August 10th. The US dollar retreated against the majors on Friday, suffering sharp losses after a softer-than-expected...
Today's focus: AUDUSD Pattern – Range /Distribution? Support – .6287 Resistance – .6520 Hi, and thanks for checking out today's update. Today, we are looking at the AUDUSD on the daily chart. Today, we have run over the AUDUSD as price continues to test resistance after Friday's fantastic rally after US employment data sunk the USD. Technically price looks...
We can see we've just broken out of my channel top after a strong bullish move, but this isn't the first time and we're hitting strong resistance. Swissie has been weak of late, unlike the Aussie, so I believe this can go either way. I'll be looking at longs around 0.589 if resistance is broken, but we may well fall back first. If we fall back below 0.578 then...
The upcoming week appears to be relatively light on economic data, with the highlight being the RBA (Reserve Bank of Australia) rate hike. Anticipations are for another 25 basis points rate hike by the RBA, reflecting ongoing efforts to manage economic conditions. Additionally, it seems that geopolitical tensions in the Israel War are not expected to escalate...
Aussie is bearish since the start of the year, with a higher degree A-B-C decline with wave C coming to an end as the price turns out of a wedge pattern this week, after the FOMC policy announcement yesterday. It looks like pair completed the ending diagonal so more gains should follow. Well, from an Elliott wave perspective and minimum objective, I think that...
There's talk of the BoJ lifting the limit on yields to 1.5% from 1% this week, which would be a very strong catalyst for the Yen to start showing some strength. We can see that this pair does not have any direction at the moment, trading in a flag pattern, but I don't see this as either bullish or bearish at the moment. I'm not sure how or when or if to trade...