Forex Charts
EURUSD – bearish wave-4 triangle nearly complete; then 1.3300
Yesterday’s call was for “… the bounce off the low to continue as wave-c completes”.
FX Daily
Market focus will be on the development in Ukraine with particular attention tohow Russia’s unilateral humanitarian aid convoy to Ukraine is handled, see FinancialTimes.
EURJPY – long-term trendline and major pivots create strong support
The weekly chart highlights a key support here at ~136. The uptrend line from 2012 and
EURUSD – 1 point corrective range forming between 1.3333/3433
The correction of the 1.37-1.33 decline is still unfolding and appears to have completed waves-a & b.
USDJPY – s/t price action implies test/break of 101.50
Yesterday’s call for a bull flag rally on the hourly chart did see a resolution higher to 102.36 (well short of the 102.50 target).
FX Daily
Focus will remain on uncertainty related to the situation in Ukraine. In terms of data releases the main event is US retail sales for July,
FX Daily
Focus will continue to be on the international geopolitical situation, albeit tensionat least for now appears to be easing.
USDJPY – bull flag above wedge breakout suggest rally to 102.50/70 n/t
The 101/103 range persists in $JPY. Friday, a bullish shooting star candle reversed early losses;
EURUSD – upward correction targeting 1.3480/3515 zone
Early last week we highlighted the completed 5-wave decline in Euro and proposed a rally towards 1.3480/3515.
USDJPY – above wedge d/t at 102.06 projects to wedge target at 102.50
Stopped out of $JPY long. The long was initiated on a triangle breakout and double bottom breakout above 102.80 and