Correction weaker before a trend stronger – MUFG
GBP gained further in January, mainly versus USD. Economists at MUFG Bank believe that the Pound could struggle in the near term before a sustained appreciation trend emerges. Global risk a key support for GBP “The sharp decline in natural gas prices and the continued reopening of China have helped lift global growth expectations and […]
XAU/USD could suffer a correction in the next few weeks – Commerzbank
Gold climbed above $1,950 following the Fed meeting. Economists at Commerzbank expect the yellow metal to shed some of its gains in the next few weeks. Sceptical view of ETF investors “Short-term investors are pricing in an upcoming end to the rate hike cycle and rate cuts in the near future. We do not rule […]
USOIL End Of Correction Hints at New Impulse
In the long term, USOIL could form a triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The primary waves Ⓦ-Ⓧ-Ⓨ seem fully completed. Since December 2022, the market has been moving in an upward primary wave Ⓧ. Perhaps it takes the form of an intermediate double zigzag (W)-(X)-(Y). Now prices are moving higher in the final actionary wave (Y). The […]
Bitcoin feels the need for correction before further growth
Market picture Bitcoin rose 5.3% last week to close at $23.8K. On Sunday, the first cryptocurrency was one step away from $24K, updating its high since August. Ethereum gained 0.9% to $1640. Top-10 leading altcoins have gained between 2.7% (Dogecoin) and 18.8% (Polygon). Total cryptocurrency market capitalisation rose 4.4% to $1.08 trillion over the week, […]
AAPL Intermediate Correction (B) To End Near 150.33
AAPL shows the formation of a corrective trend, which takes the form of a a-b-c zigzag of the cycle degree. Complex correction b is currently under development, taking the form of a primary double zigzag Ⓦ-Ⓧ-Ⓨ. The actionary leg Ⓦ and the zigzag intervening wave Ⓧ look completed, and the last sub-wave Ⓨ is still […]
BABA End of Bullish Correction Hints at Impulse
BABA suggests the continuation of the bearish trend. This takes the form of a cycle triple zigzag consisting of sub-waves w-x-y-x-z. The actionary wave y and the intervening wave x have ended as double zigzags. Wave z is now under development. It is likely to take the form of a primary zigzag Ⓐ-Ⓑ-Ⓒ. There is […]
What Is a Correction? – Analytics & Forecasts – 22 January 2023
In investing, a correction is usually defined as a decline of 10% or more in the price of a security from its most recent peak.1 Corrections can happen to individual assets, like an individual stock or bond, or to an index measuring a group of assets. An asset, index, or market may fall into a correction either […]
EURUSD Long Correction Likely To End Near 1.122
In the long term, the EURUSD currency is expected to form a bearish cycle impulse consisting of sub-waves I-II-III-IV-V. Most likely, the market is in a bullish correction wave IV. This complex correction is like a triple zigzag consisting of primary sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The primary sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ look complete. The development of […]
XAU/USD continues to face correction risks – TDS
Gold rallied all the way up to $1,920 in the last session of the week. However, strategists at TD Securities note that the yellow metal confronts correction risks. Precious metal space is no longer in a selling mode “Reflecting the narrative that inflation pressures in the US economy are coming under control, following the release […]
XAU/USD could make a downward correction in the short term
Gold has climbed above $1,900 for the first time in seven months ahead of the weekend. But the technical outlook suggests XAU/USD eyes correction before extending rally, FXStreet’s Eren Sengezer reports. $1,880 aligns as initial support “XAU/USD’s near-term technical outlook points to overbought conditions with the pair trading slightly above the ascending regression channel coming […]