Forex Charts
USDJPY – awaiting confirmation of doji and bullish falling wedge
Yesterday’s doji candle is promising but still a reversal and close above 97.87 is needed to confirm the bullish implications.
EURUSD – waning momentum threatening latest 1.3573 breakout
The Euro is still well below our longer-term target zone near 1.39 but momentum is warning of at least a minor pullback because of a divergence with price at recent highs.
FX Daily
Market movers today * What should have been an exciting day will turn out to be rather dull in terms of key figures.
FX Daily
Market movers today * Markets are in a waiting position for the battle on raising the debt ceiling. There are still no signs of a resolution to the government shutdown.
USDJPY – new wave-E target at 97.08 = .618wave-C
We thought the 2 trend lines at 97.55 and the corrective nature of wave-E favored the long side in $JPY but Monday’s strong bounce was never confirmed with a higher close.
EURUSD – bearish shooting star at range highs threatens n/t
Yesterday’s Euro posted a bearish shooting star candle at the top of the 2-week bull flag which further adds import to the reversal.
FX Daily
Market movers today * Focus on politics in both the US and Italy. While we will likely have to wait before anything new happens in the US deadlock,
FX Daily
Market movers today * The US government shut down for the first time in 17 years and focus now turns to how long it will last.
FX Daily
Market movers today * In the US focus will be on the negotiations about temporary government funding for the new budget year starting tomorrow.
FX Daily
Market movers today * Focus will continue to be on the political wrangling in the US to secure an agreement on the temporary funding bill for the new budget year starting on Tuesday to avoid a government shutdown.
USDJPY – bull flag can be confirmed with rally through 99.10/20
Wave-E of wave-4 is considered complete at 97.76 and therefore prices cannot dip below that level without invalidating our bullish outlook;
EURUSD – needs a hold above 1.3462 to keep 1.3645 target intact
The bull flag in Euro has not resolved higher yet as expected and it is troubling that prices are breaking the September uptrend.