Forex Charts

AUDUSD – bear flag pattern targets break of .9239 and move to .9134

Wednesday we wrote that “>.9330 can push prices to more important test at .9374”.

Attention will continue to be on the development in eastern Ukraine where thefragile ceasefire so far seems to hold.

The mid 105’s targets have been satisfied and this means that most,

Violent decline through channel support is best viewed as “wave 3 of 3” in Elliott terms and

On a day with no real market movers focus will be on developments in Ukraineand the markets will further digest Friday’s job report and

Focus is on the US labour market report for August. We look for a positivesurprise with a solid increase in non-farm payrolls of 260,000

Aussie will not break down from a perceived 6-month top/consolidation.

We got a push overnight to the mid 105’s as expected but the rally out of the triangle still looks incomplete.

Last week’s hourly bear triangle did not produce the expected decline but

Main event is the ECB meeting. We do not expect rate cuts or QE in connection withthe meeting but all options are expected to be left open.

Euro-area service PMIs are due for release and focus will be on the first figure forSpain and Italy.

As opined, wave-4 completed at 103.56 and since we have seen prices move towards our “wave-1=5 target at 105.55”.