Forex Charts

FX Daily

Markets will be digesting the results of the Greek election.

After yesterday’s bold move by the ECB in which Draghi announced

Yesterday’s we wrote that the move to 118.83 satisfied symmetry between

The trend is down and prices are still holding within the December channel.

We expect the ECB to announce government bond purchases of EUR750bn today.

Yesterday’s follow through rally to 118.87 satisfied symmetry between

We expect US building permits and housing starts to surprise on the upside.

It looks like the 5-wave decline from 1.26 is satisfied in Euro as wave-5 reached symmetry with

This move higher off critical support is in line with our call for “a wave-D rally to 119/120”.

Markets will stay alert to any hints on a likely ECB QE announcement on Thursday.

US markets are closed due to Martin Luther King day.

Our last update highlighted the new 1.1754/1864 resistance zone and