Forex Charts
FX Daily
Not much on the global agenda today. UK CPI is expected to rise to 1.7% y/y from1.6% y/y, which would mark the first increase in more than a year.
EURUSD – after correction, a close < 1.3673 can confirm a double top
Euro hit our 1.3680 target after breaking key trendline from April and Jan. Together, the uptrend line from last year and the key pivot low from April are critical support going forward.
USDJPY – bear flag breakdown along with RSI 40 break => 99.47…97.69
From a classic pattern perspective, $JPY is resolving a 3+ month bear flag and the projection targets are 99.47 & 97.69.
FX Daily
In terms of data releases, we have a very light calendar today. Instead, focus willcontinue to be on comments from ECB board members Weidmann, Mersch andCoeure.
FX Daily
Today’s data calendar is rather thin. In the US, the main focus will be on the releaseof housing starts and building permits for May as well as the release of theUniversity of Michigan confidence indicator.
FX Daily
We forecast a growth rate of 0.4% in the euro area in Q1. If this proves right, it willbe the fourth consecutive quarter of positive growth and the strongest quarterlygrowth rate in three years.
FX Daily
Euro industrial production is expected to decline in March in line with the movementacross countries. The lower production is partly due to fewer working days in March.
AUDUSD – bull flag on daily lead to s new bull flag on hourly; to .9600
We flattened our Aussie long near wave-(3) anticipating a wave-(4) correction minimally to .92. The correction completed and held key channel support.
FX Daily
We expect another small decline in German ZEW expectations in May after it hastrended downwards during the first few months of 2014.
USDJPY – hourly channel resistance & uptrend break suggest pullback
Again price have held above the key 101.33 level and momentum has created a bullish double bottom at the key 40 zone. Without a move below these levels,
FX Daily
Today we have a very light calendar in terms of data releases but there are someinteresting central bank speeches. ECB’s Constancio,
FX Daily
We have a very light data calendar with only secondary data releases scheduled. InEurope both the UK and Italy will release industrial production for March.