Forex Charts
Asia Today: Opposite jobs reports from the Tasman Sea; Oz vs. NZ
With the US election concluded, we were back on data-watch in Asia. The Australian employment report was a surprise to the upside with a solid 10,700 jobs added in October, a respectable number considering the paltry +500 print expected.
A monthly run through the long-term charts
The euro is still facing headwinds and German yields are still trending lower The ECB EUR index has been allowed a correctional lift to re-check into the lower end of the still sharply falling 12mt Moving Average band, which represents resistance together with a 2009-2012 descending top line and the 2010 lows near the 100-mark.
Global Technical Watch – Unease in sentiment
With the US presidential election drawing to a close, investors are turning more cautious. Recent gains in the S&P 500 were unsustainable and EUR/USD also slumped back to its 200-day average.
AUDUSD: Another day, another reversal
AUDUSD tried above 1.0400 yesterday and overnight, but too many event risks in the pipeline mean that we may not get a directional commitment from the pair until after the US election.
EURUSD: 1.3000 magnet still holds sway
The 1.3000 magnet in EURUSD continues to hold its power as yesterday’s rally from short term support suggests that the market wants to wait until after Election Day to cast its vote on a larger directional move.
USDJPY slips below 80.00 – where is support?
USDJPY impressed recently with the rally pulling the pair well above 80.00 yesterday. That level is slipping this morning after more bad news out of Wall Street last night as we look for where the pair might find support.
USDCHF: Looking for clarity post-FOMC
The USDCHF chart is in limbo, like so many of the USD charts lately as the pair shied away from a downside break lately, but needs follow through higher to argue that the trend is changing.
EURJPY testing through resistance
The strong US retail sales data saw a rebound in risk appetite and a weaker JPY and the key Euro crosses are bid as well, as EURJPY pressed beyond the bounds of the recent triangle of consolidation.
USDJPY – extreme technical indecision ahead of G7
USDJPY refuses to go anywhere – that won’t be the case forever, but when do we get a break out of the incredibly constricted technical picture?
EURUSD breaking down
The Friday attempt to maintain the 1.3000 level in EURUSD appears to have failed, as the pair is breaking back down through short-term support which may see it eventually retesting the 200-day moving average in the 1.2825 area.
AUDUSD at huge pivot ahead of RBA meeting
The RBA meeting is up tonight and this is a huge week for US economic data, so look for AUDUSD to make a statement one way or another this week as it trades in a key pivot area ahead of all the event risks.
USDCAD beats a retreat after headfake
USDCAD pushed higher through the longer term flat resistance line at 0.9800 and even briefly through the shorter term area close to 0.9850 recently, but failed to hold higher.