Forex Charts
AUDUSD – wave-iii of 3 satisfied o/n; small pullback to .9245/08 zone
Yesterday prices reached the old 2013 neckline at .9281 as is so far reversing from this initial resistance level. The head & shoulders target is well above at .9503 but
FX Daily
In Europe, preliminary March HICP inflation data from Spain and Germany aredue today. This will give us the first indication on the important euro-area inflationfor March to
USDCAD – failed breakout from triangle signals large correction possible
The triangle breakout was short-lived and much of last week’s gains have already been negated. Because post triangle moves are often the last wave within a larger rally,
USDJPY – bull flag sets stage for wave-c of (d) rally towards mid 103’s
The wave-b pullback from 102.65 has completed, a rally to 102.86 and then the mid 103’s can complete wave-c of (d) of the larger 3+ month triangle.
FX Daily
In Europe the main focus will be on the release of money supply and credit data inthe euro area for February. In general the data have been weak, albeit there was aslight improvement in January.
FX Daily
Today’s data calendar is fairly light in terms of data releases, with the highlight beingUS durable goods orders for February. Durable goods orders declined relativelysharply in
FX Daily
In the data calendar the main event is the release of IFO-business climate. We expecta decline in business climate to 110.8 from 111.3 but yesterday’s weak manufacturingand services PMIs for
USDJPY – pullback to 102 to correct the latest impulse from 101.21-102.65
Prices are in an upswing but within the larger 3+ month triangle that is consolidating gains from 96.57-105.44. We expect that wave-(d) up will approach the mid 103’s but
EURUSD – initial 5-wave decline projects to symmetry/pivot supp. at 1.3707
The reversal from near 1.40 in Euro occurred at wedge resistance that dates back to 2013; this wedge resistance aligned nicely with channel resistance from early Feb.
FX Daily
The main focus will be the release of the flash PMIs. In the euro area we expect thecomposite PMI to have declined slightly to 53.1 in March from 53.3 in Februarydriven by a drop in the manufacturing PMI,
USDCAD – wave-5 up targets 1.1344; support is 1.1215/1200
Our latest update called for a bull triangle breakout above 1.1194/1.1224 and that has unfolded so far. Bigger picture, this rally is a wave-5 in a large uptrend that
FX Daily
On a very quiet day on the data front, markets will continue to digest the news overthe week with a surprisingly hawkish Fed and