Latest Forex Research
$ correction getting legs. S&P – that’s a bullish print!
EURUSD: It certainly looks like that the (for some time) sought upwardcorrection now finally is getting traction.
FX Daily
German trade data for August are due for release this morning and focus will be onwhether the solid increase of 4.8% m/m in exports in July marked the bottom.
FI EYE-OPENER: The Fed joins the dovish ranks
Yesterday’s FOMC minutes leave us with an overall feeling of dovishness. Quite a bit of deliberation regarding the phrase considerable time,
Gold Technical Analysis
The correction from the recent dip towards 2013 low has continued Wednesday with
USDJPY – triangle negated but a-b-c decline satisfied at 107.83
Our bull triangle interpretation was invalidated with yesterday’s move below 108.01 but the decline from
GBPUSD – wave-(b) target hits ideal level; now wave-(c) higher to 1.65/66
Sterling nailed the wave-(b) target by extending to 1.236 x wave-(a) which is an ideal move.
USDCAD – to 1.1230 then correction to channel support below 1.10
So far the bearish reversal from 1.1270 is holding and can promote a still deeper decline.
AUD/USD Analysis
The pair started this morning at $0.8841 after overnight US dollar losses had boosted the rate up to $0.8852.
Crude Oil Technical Analysis
Fresh 2014 lows Wednesday reconfirm bearish pressure with immediate focus now having shifted to
GBP/USD Analysis
The pair closed in NY at $1.6165, just off late session highs of $1.6181 after rate had been driven higher on
EUR/USD Analysis
A choppy morning for the euro after it opened at $1.2734 today and following its $1.2641 to $1.2749 US trading range overnight.
EuroStoxx50 Technical Analysis
Losses continued for Stoxx50 Wednesday with the index working its way towards the Aug monthly low.