Stocks and Dollars

EUR/USD has recently completed the Clear Triangle chart pattern identified by Autochartist on the 4-hour charts. The overall Quality of this chart pattern is measured at the 5 bar level as a result of the low Initial Trend (rated at the 3 bar level), above-average Uniformity (6 bars) and near

While the price moves according to a possible variant of the wave counting. Supposedly the correctional wave [ii] of 1 in the form of an Flat. If this assumption is correct, in the framework formation it wave (c) of [ii], we can expect local appreciation US dollar against CHF.

AUD/USD may be in the process of forming a top below 1.0755/65 highs from early Sept. and late October. On a short-term basis, AUD/USD may have also registered a double top at 1.0680/85, where a break below the 1.0525 neckline would confirm the pattern and target a move lower to

AUD/USD may be in the process of forming a top below 1.0755/65 highs from early Sept. and late October. On a short-term basis, AUD/USD may have also registered a double top at 1.0680/85, where a break below the 1.0525 neckline would confirm the pattern and target a move lower to

Risk currencies outperformed during a mixed overnight session. Major asset classes were buoyed during London by the EU summit’s agreement of 25 countries to establish a fiscal discipline treaty, as well as an FT article the next ECB offering of cheap liquidity to banks could be several times as large

Manufacturing PMI data out of China at 12:00 AEST has the ability to turn risk sentiment back into positive territory, but we are not very optimistic. Current estimates see the official figure coming in at 49.6, representing only the second time that the figure would be in contraction territory since 2009.

The dollar is trading mixed and risk sentiment fell off the highs seen early in the session after weaker than expected U.S. economic data and renewed concerns about Greece. There has been a lack of positive news on Greek PSI despite officials having continually expressed their optimism on the progress

Asian Markets are set to open lower after U.S. stocks fell for a fourth day, the longest streak for the Dow Jones Industrial Average since August, as reports showed consumer confidence trailed economists’ projections and business activity cooled. Despite the session’s lacklustre performance, the Dow and S&P are still posted