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Elliott Waves: Dollar Can Recover As 10 year US yeilds Eyeing 3.9-4%

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Hello Traders, and welcome to another piece of free analysis at ForexAnalytix.com. The market has been in recovery mode since mid-September, which is quite intereting, as the Fed decided to cut rates by 50 basis points back then. It turned out to be a “buy the rumor, sell the news” situation because most of the dollar’s weakness and lower US yields had been based on speculation about the Fed’s rate cut. Now that this has happened, we are seeing the opposite reaction.

Looking at US yields, we see a broken trendline connected from the June highs, indicating that we are now in a wave four, which suggests we are in a consolidation phase. And there’s still room for yields to reach 3.9% or 4%. It’s also important to keep an eye on the Dollar Index and potential higher recovery due to its strong correlation with US yields. Read more

Elliott Wave Update II: Silver’s Surge- Tracking the Rally and What Comes Next

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Hello Traders, and welcome to a new free update, which will be a follow-up on Silver that we covered back on September 6th. Since then, we’ve seen a strong recovery in this metal. As you may recall, we were looking for a potential bottom formation around $28, which aligned with the 61.8% retracement. You can check that article by clicking here.

So, where do we stand now? Since then, Silver has rallied back to new 2024 highs, largely driven by central banks easing across the board. The Fed, Swiss National Bank, and ECB have all been cutting rates, and now also  this week, China has taken steps to stimulate its economy. As a result, we’ve seen a sharp rise in Chinese stocks, and with a stronger Chinese Yuan, metals are performing well.

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Is USDJPY Coming Into Support? (Elliott Wave Analysis)

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Hello Traders! Let’s dive into another analysis on USD/JPY. As you know, we’ve been posting a few free blog posts for Forexanalytix over the past week, and I think it’s important to keep you updated from time to time.

 If you want these kinds of updates on a daily basis, make sure to check out our premium services for more in-depth insights! Read more

Crude Oil: Bullish Now Or Reversal Coming?

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Macro Perspective:

Oil went into free fall in mid-2014, experiencing a relentless bear move which saw oil price drop by over 70%. US shale producers turned out to be the tipping point in terms of the global supply glut. This, combined with a decrease in global demand, proved to be an unstoppable force that lasted for over a year.

 

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