Am into Oil also now. This one XTIUSD (West Texas Crude Oil). I expect the market to fall slightly in blue wave 4 to about 60 or 59 (the pink horizontal trend lines) then rise strongly in a fifth wave (remember commodities have explosive fifth waves). The target for the rise is about 70s and possibly 73s. See the white trend line for guidance.

Thereafter oil should fall strongly to below $40s per barrel toward $20s. Unbelievable? That's what Elliott says for now.

Looks overdone.

Copy and Paste Extract

Kenya's shilling strengthened on Thursday (01st August 2019) after the central bank sold dollars to banks to stem persistent weakness in the local unit, traders said.

At 0930 GMT, commercial banks quoted the shilling at 103.60/80 per dollar, up from 104.15 when the central bank intervened earlier in the session.

It had slid more than 1% in seven straight trading sessions.

The shilling sank to its lowest level against the dollar in nearly five years earlier this week due to heightened political risk, a firmer dollar, concerns about export earnings and excess liquidity in the money markets.

"CBK (Central Bank of Kenya) have come in, they've sold dollars," said a trader at one commercial bank.

The bank also sought to mop up 15 billion shillings from the market through seven-day repos.

The weighted average interest rate on the overnight borrowing market for banks has hovered around 2% last month, making it cheaper for banks to bet against the currency by buying up dollars.

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Is this lady on Wazua?

Wanjiru Gishangi, 29, has been trading forex for over three years. While she may have started on a losing note, Gishangi is now more experienced and even offers training to others looking to join the venture.

She shares her journey in foreign exchange and offers tips on finding a living from the forex market.

We are back! Or rather, I am back.
The markets are offering tantalizing opportunities this year

Geopolitical tensions have been overplayed. Looking for short positions on gold at about $1475 and oil at $70pb.

Long GBPUSD at 1.3110 with SL at 1.3050. Targeting at least 400 pips.

I expect GBPUSD to complete the bearish triangle abcde at 1.3130s then fall. A trade can be taken with low risk at 1.3130s with a tight Stop Loss at 1.3170 and target at least 600 pips down.

Gold should offer some 2000 pips on a SHORT trade over a period of a month or so.

Wave (2) in EURUSD may already have bottomed at 1.0990 . If you take a LONG trade and it goes below this level then you can take another at a lower level but now with a firmly set Stop loss at 1.0878.

With this LONG trade target a rise of at least 900 pips in the course of a month or so. That should cover wave (3), the white trend line.