Elliott Wave View: USDJPY Rallying in Double Zigzag

The New Zealand dollar continues to rally on Friday. NZD/USD is trading at 0.5702 in the European session, up 0.43% on the day. Manufacturing PMI unexpectedly expands New Zealand’s Manufacturing PMI rose to 51.4 in January, up sharply from the December reading of 45.9 and above the market estimate of 46.0. This was a milestone […]

US Retail Sales and the inflation data came in higher than expected last week, and the Federal Reserve (Fed) Chair Jerome Powell said that the US economy is strong enough and that there is no urge for rushing to rate cuts. The US 2-year yield consolidated between the 4.30 and 4.40% level, the 10-year yield […]

Key Highlights GBP/USD gained bearish momentum below the 1.2640 support zone. A major bearish trend line is forming with resistance at 1.2670 on the 4-hour chart. Gold prices rallied further above the $2,260 resistance. The US ISM Services Index could increase from 52.6 to 52.7 in March 2024. GBP/USD Technical Analysis The British Pound started […]