Forex Charts
FX Daily
Market movers today * UK CPI, which is one of the important indicators in Bank of England’s forward guidance,
Chart EUR/NOK, EUR/SEK, USD/NOK, USD/SEK Opening Summaries
EUR-NOK The sharp rally above strong hurdle at 8.2037 last Friday is setting bulls on firmer footing and
USDJPY – support at 97.50/36 can complete wave-(2) correction
Our view is that weak longs were flushed out after yesterday’s break of 99.01. We raised the concern aboutchannel resistance from July and
EURUSD – just testing old 1.3442/49 lows at 61.8% retrace
The old polarity zone at 1.3420/50 that was broken yesterday is now new resistance and is already being testedthis morning.
AUDCAD – correcting to .9744/41 within a bull flag
AUDCAD is forming a bull flag from the high at 1.0048 but the pullback is still incomplete and we expect it tomove lower towards a support zone between .9741/.9573.
USDCAD – completing sideways correction above 1.0398
The 1.0420/0400 zone still represents strong support for $cad and we expect prices to rally higher to continuethe uptrend that began from 1.0182.
FX Daily
Market movers today * We expect ECB to refrain from cutting rates in connection with today’s meeting but instead signal a rate cut in December.
EURUSD – expecting ‘ a wave-5 down to drift towards 1.3442 today
Monday our call was for a corrective bounce from a strong support zone…that correction has taken place via asideways, a-b-c range.
USDJPY – above 98.53 reasserts call for a wave-3 of (3) rally
$JPY is sitting on critical uptrend support this morning with wave-2 retracing a larger than expected portion ofthe rally from 97.81 to 98.85.