Forex Charts
FX Daily
Main event will be the FOMC statement tonight (no press conference or newprojections at this meeting).
FX Daily
Main event today will be a meeting between EU ambassadors aiming to close a dealon so-called phase 3 sanctions against
USDJPY – rally to complete wave-3/c expected to test key 101.27 level
Friday’s price action obliged “minor wave-iv pullback” to the 101.70 area;
EURUSD – another new low can complete 5-wave decline from 1.3485.
The Euro has not rallied to form a wave-4 correction and instead continues to extend lower in impulsive decline.
FX Daily
Silence before the storm today as there are no big key figures in an otherwise verybusy week. Only release of interest is US pending home sales,
FX Daily
Late today the EU is set to publish a list of new names of individuals andorganisations affected by sanctions due to the Ukraine-Russia conflict.
FX Daily
Overall, we expect to see a slight improvement in euro area PMIs for July. In ourview it will probably be a bit more pronounced in the service sector,
FX Daily
On the data front, the calendar is thin today with minutes from the Bank of England(BoE) July meeting as the main event.
FX Daily
EU foreign ministers are meeting today to decide on further sanctions againstRussia following the MH17 crash. In particular UK’s Cameron is pushing foradditional sanctions.
USDJPY – extension targets align at 101.80 pivot high for n/t rally
The downtrend (channel) from 102.80 is still intact but a higher low is now in place above 101.07 as last week’s decline halted 2 pips above.
EURUSD – looking for wave-v down to symmetry target and ‘14 low at 3475
The Euro is coiling right above the 2012/13 trendline at 1.3510 and the spike low from June is 1.3503.
USDJPY – above 101.44 clears a path for 101.80; 101.07 critical support
We’ve discussed the long-term outlook for $jpy but lets refresh one more time. Our base case is that the pattern from January is a bull triangle and wave-E is done at 101.07.