Forex Charts
Still upside for NOK/SEK after recent rally
In the past week we have received disappointing trade balance, retail sales data and PMIdata out of Sweden. The data support our view that Q3 GDP data will be weak and
FX Daily
Market movers today * The final euro area PMI is expected to be unchanged from the Flash estimate (following the release of PMIs in Italy and Spain).
FX Daily
Market movers today * The calendar is dominated by PMI releases. The first will be UK manufacturing PMI for October, which we expect to correct slightly from its current elevated level.
EURUSD – short of optimal ~1.3875 level but failing at channel
There were no new marginal highs in Euro as prices failed at July channel resistance. The subsequent breakbelow the old 2013 high at 1.3711 further confirms that an important turn is at hand.
FX Daily
Market movers today * Euro area inflation in October is expected to have been pushed up by the Italian VAT increase,
FX Daily
Market movers today * The statement from the October FOMC meeting is due for release tonight at 19:00 CET.
GBPUSD – h&s neckline break on hourly targets 1.60
After a deep correction of the initial 5-wave decline (wave-1) in Sterling prices again met strong resistance near1.6250 from the 2011 downtrend.
FX Daily
Market movers today * Today’s main economic release is US retail sales for September. The data were collected before the distortion from the government shutdown and political mess.
EURGBP – wave-iv bull triangle ahead of rally to .8585 targets
With the breakout above .8505 confirmed, there is a target zone developing at .8585. From the October low,the wave-2 consolidation between .8428/.8505 led to
EURUSD – 1.3742/3704 critical support this week
We are showing the weekly chart of the Euro again to clarify our shift from bullish to neutral in preparation for amajor turn in the weeks ahead.
FX Daily
Market movers today * US manufacturing production growth has been subdued over the past six months and leading indicators are sending mixed signals.