Forex Charts
FX Daily
Market movers today * With the deadline looming on Monday focus in the US will continue to be
FX Daily
Market movers today * In the data calendar focus is on durable goods orders and new home sales in the US.
USDJPY – still awaiting confirmation of Thursday’s reversal
Friday we raised the case that a higher close would offer bullish confirmation of Thursday major reversal but there was no follow through.
EURUSD – wave-4 bull flag above 38.2% Fib ahead of new highs
Our last forecast included a call for a wave-4 correction ahead of new cycle highs. The Euro is still tracing a shallow, bull flag correction above the 38.2% retracement at 1.3476.
FX Daily
Market movers today * In Europe the main focus will be the IFO business survey in Germany. We expect IFO to have improved in September to around 105 and
FX Daily
Market movers today * After financial markets have digested the outcome of the general election in Germany, focus will shift to flash PMIs for the euro area in September.
AUDUSD – Elliott & Fibonacci indicating a top in place at .9529
Aussie has retraced 38.2% of its decline from 1.06-.8900; the rally fits the description of an a-b-c correction complete with a 1.618 relationship between waves-a & c (daily).
FX Daily
Market movers today * Euro area September consumer confidence is due for release. We expect an aboveconsensus improvement.
FX Daily
Market movers today * The Fed surprised the markets yesterday as it did not reduce the monthly bond buying
FX Daily
Market movers today * US monetary policy decision. We expect a very gradual start to QE tapering with only 10bn reduction in the monthly purchases.
FX Daily
Market movers today German ZEW expectations will show a strong improvement in September according to our model,
USDJPY – head & shoulders top supports call for move to <98
$JPY continues to work towards our target zone below 98.00 as it completes wave-E of a 4-month triangle.