Forex Charts

FX Daily

In the euro area the flash estimate for HICP inflation in November is released and

US markets are closed due to Thanksgiving.

Jean-Claude Juncker will present the EUR315bn EFSI (European Fund for Strategic Investment) programme to

Details on the German Q3 GDP numbers are released today and focus will be on how much private consumption grew last quarter.

The right shoulder idea in Euro was wrong because prices did not break the key neckline at 1.2578 and

German IFO expectations are expected to show signs of improvement.

It is a very thin calendar and most focus will be on speeches by Draghi andWeidmann.

First attempt to resolve the head & shoulders bottom failed as the neckline break at 1.2578 was quickly rejected.

Prices cleared all of our proposed wave-3 targets as the Yen continues to extend higher.

We were looking for a pullback in Aussie to correct the initial 5-wave rally from .8540 to .88.

Euro PMIs are due for release and it will be interesting to see whether theimprovement in the financial ZEW expectations is mirrored in the PMIs.

Regarding the developing head & shoulders bottom, Monday we wrote “once this right shoulder completes,