GBPUSD Under Pressure: Downtrend Confirmed or Correction Incoming? GBPUSD’s recent price action suggests continued weakness. This analysis examines the technical situation and explores potential scenarios for the currency pair. GBPUSD Stuck in Downtrend: Downside Target in Focus: Upside Scenario: Signs of a Correction? Resistance Levels to Consider: Overall Sentiment: The technical outlook for GBPUSD remains bearish in the short term. The price action …
https://www.forexcycle.com/sho....rt-term-forex-analys

USDCAD Struggles: Downtrend Deepening or Temporary Dip? USDCAD’s recent price action indicates continued weakness. This analysis examines the technical situation and explores potential scenarios for the currency pair. USDCAD Stuck in Downtrend: Downside Trajectory in Focus: Signs of a Reversal? Trend Reversal or False Hope? Overall Sentiment: The technical outlook for USDCAD remains bearish in the short term. The price action below …
https://www.forexcycle.com/sho....rt-term-forex-analys

SPDR Metals & Mining ETF ( $XME) Found Buyers at the Blue Box Area as Expected. Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of SPDR Metals & Mining ETF ($XME). The rally from 3.14.2024 low at $55.37 unfolded as 5 waves impulse. So, we expected the pullback to unfold in 3 swings and find buyers again. We will explain …
https://www.forexcycle.com/dai....ly-forex-reports/138

Elliott Wave Suggests AT&T Inc. (T) Last Leg Lower Could Have Started AT&T Inc. (T) is an American multinational telecommunications holding company headquartered in Dallas, Texas. It is the world’s largest telecommunications company by revenue and the third-largest provider of mobile telephone services in the U.S. AT&T (T) Monthly Chart April 2024 In the monthly chart above, we can see that AT&T shares finished an all-time high …
https://www.forexcycle.com/dai....ly-forex-reports/138

Platinum (PL) Turning Higher Platinum (PL) looks to have formed a bottom and the metal has started to rally higher in the next bullish cycle. The metal still needs to break above 1348.2 to confirm that the next leg higher has started. Below we updated the Monthly and Daily Elliott Wave chart for the metal. Platinum (PL) Monthly Elliott …
https://www.forexcycle.com/dai....ly-forex-reports/138