Forex Charts
EURUSD – correction targeting deep retracement at 1.3636
Our call for a new leg lower in Euro beginning at 1.3579 on 11/19 was squarely negated last night; we closed shorts.
FX Daily
Market movers today * US durable goods orders will give info on whether US investment spending will pick up soon.
AUDNZD – bearish consolidation break at 1.12 targets 1.09/07
The range that started in mid-July proved to be a consolidation within an ongoing downtrend. The recent break of critical 1.12 support has come with no sign of momentum divergence and
FX Daily
Market movers today * US consumer confidence for November (Conference Board) is expected to rise slightly following a steep decline in October partly related to the government shutdown.
USDJPY – double bottom target hit; minor pullback to 101.36/101
The Oct double bottom target of 101.53 was reached overnight; now $JPY has handily bettered both the June and Sep highs clearing a path for our long expect move to 106 slated to occur in Q1 2014.
EURUSD – Euro rally fails at underside of 2 channels
Last week’s deep wave-2 retracement nearly negated our bearish Euro call but failed at the underside of 2 channels, the first being a bear flag from Nov and
Divergent growth, inflation and monetary policy between Norway and Sweden
Statistics’ Sweden (SCB) investment survey and the National Institute for EconomicResearch’s (NIER) business and consumer confidence surveys did nothing to
EURUSD – deep retracement testing underside of broken flag
So the bear flag completed and led to a sharp sell-off as suggested Wed morning. The rally since, we labeled as a correction but it is over staying its welcome in terms of price retracement.
FX Daily
Market movers today * In the data calendar the main event is the IFO business survey in Germany.
FX Daily
Market movers today * In the data calendar the main events are the releases of flash PMIs for the euro area, Germany and France.
USDJPY – consolidating gains from early Nov; 99.80/60 support
From a daily perspective the breakout above the triangle downtrend is still intact and the old resistance level now offers support at 99.63.