Forex Charts
FX Daily
A light global calendar today with focus likely to remain on the geopolitical tensions. Both US and Europe are increasing the pressure on Russia following the MH17 crash.
FX Daily
Another light data calendar with the US University of Michigan Confidence indicatoras the highlight.
FX Daily
It is a very light calendar today in terms of macroeconomic numbers. Focus will be oneuro-area inflation and US initial jobless claims.
USDJPY – move to major resistance at 101.88/97 can complete wave-1
Our outlook asserts that 101.07 marked a wave-E of [4] low to complete the 2014 bull triangle.
EURUSD – expect a move to and eventual break of 1.3510/3480 support
The Euro is now below all major moving averages and the 2013 uptrend; the next key trend/pivot zone is 1.3510 to 1.3480.
USDJPY – targeting 101.80/86 to complete initial 5-wave rally
Yesterday our focus was on a break of “101.56 to promote strength and a continuation to 101.86”.
EURGBP – 2 targets and wave pattern suggest .78 target to be realized
The cross has continued to sell-off as laid out in the 7/1 update (“still room for lower…”).
FX Daily
Focus on central bank speeches with ECB’s Coeure and Fed’s Fisher but mostimportant will be Fed chair Yellen’s testimony.
AUDUSD – wave-ii rally satisfied as RSI moves to and fails at 60
Aussie suffered a deeper than expected wave-ii correction but the up move failed at the underside of the recently broken channel.
USDJPY – b/l 101.24 lows shifts focus to next key level at 100.82
We have promoted the idea that a large bull triangle ended at 101.24 on 6/30;
FX Daily
With a very light calendar focus will be on the fate of Banco Espirito Santo(BES) in Portugal.