Forex Charts

EURUSD – early stages of wave-4 or (2) rally to 1.29/30

Thursday we wrote that we were “expecting a wave-(b) or 5 low near 1.24/25 this/next week”.

The main release will be the Fed’s Labour Market Conditions Index that it beganpublishing last month.

Last month DSI sentiment in the Dollar reached bullish extremes;

Kiwi is right at major long-term support of .7684 and we think this level can hold based on

In the US we expect another strong labour market report for October thisafternoon,

We are viewing the late September low in the cross as a significant wave-5 low that ended the 5 wave decline from .88 in 2013.

The 1.2500 level has contained the latest push lower after first yielding but the larger downtrends are still all pointing down.

We expect the ECB to remain in wait-and-see mode at today’s meeting, as the impactof the latest easing measures is assessed.

Aussie has declined sharply from the proposed wave-4 high at .8911 but

In the US focus this morning will be on the outcome of the mid-term election.

In the US focus will be on the mid-term election. The Republicans are expected to

A very busy week ahead with PMIs/ISM today, mid-term election in the US onTuesday, ECB meeting on Thursday and US non-farm on Friday.