Forex Charts
USDJPY – wave-(d) rally underway but 102.65/86 resistance for today
We viewed the 101.20/88 range as a bearish consolidation because it followed the downtrend from 103.50; the outlook was proven wrong once prices rallied through 101.88 post Fed yesterday.
EURUSD – daily uptrend break, hrly h&s top signal major change in trend
The head & shoulders pattern resolved as expected below the 1.3860 neckline. The strong decline since has also taken prices below an uptrend from Feb and
AUDUSD – h&s bottom failing to break .9086…possible bearish wedge
The head & shoulders bottom breakout in Aussie is not working; by that I mean that multiple attempts to clear .9086 resistance have been rejected and time is becoming an
FX Daily
The US Philadelphia Fed survey is expected to rebound in March following the sharpdrop in February. The number will give further input to how much activity is comingback and
USDCAD – breaking out of bullish range/triangle; 1.1194/1224 key
Ideally we were looking for a rally to 1.1155 (which unfolded quickly yesterday afternoon) and then one more pullback to complete the bull triangle.
USDJPY – bearish correction continues between key 101.88-101.20 range
Prices are in a minor consolidation between 101.20-101.88 following the sharp 5-wave decline from 103.50; this is best viewed as a bearish continuation (triangle?) as is expected to resolve lower.
FX Daily
The key event today will be the Fed announcement and new projections at 19:00followed by Janet Yellen’s debut as host of the press conference at 19:30.
FX Daily
Focus continues to be on developments in the Ukraine/Russia conflict where theoutcome is still unclear.
USDJPY – sideways correction ahead of 101.20 breakdown.
The 3/3, 101.20 low halted last week’s decline but the bear flag pattern from early Feb is still signaling further weakness.
FX Daily
Focus will be on the reactions to yesterday’s referendum in which the people ofCrimea voted overwhelmingly in favour of joining Russia.
USDJPY – extension targets suggest move to 100.87/77…possibly 99
To review, the weekly chart of $JPY suggests that prices are correcting in a wave-[4] ahead of one final push higher. Both interpretations that we favor would eventually follow with at least a test of
EURUSD – yesterday’s shooting star reversal comes at major resistance
Yesterday we highlighted the bearish wedge and long-term wedge resistance; the Euro staged a bearish shooting star reversal confirming the key level and the end of a 5-wave rally from 1.3643.