NZDUSD BULLISH MOMENTUM EXHAUSTED; BEAR LIKELY TO LEAD SOON.

TECHNICAL BEAM

        Following a third wave leg completion for a highly powered bullish momentum; there are indications showing the pair might just have bitten the much of the bull it can take. This is resulting from the Gann square of nine signal indication for this bull market that begun on the 8th of July, 2013.

USDJPY POSSIBLE FIBONACCI WAVE PATTERN IMMINENT

 FUNDAMENTAL BEAM

The Japanese yen lost ground last week, as USD/JPY jumped about 130 points. The pair closed the week at 98.57. This week’s schedule is very light, with just two releases. Here is an outlook on the major market-movers and an updated technical analysis for USD/JPY.
US consumer sentiment and unemployment claims were weak, but the yen couldn’t take advantage. The shutdown in the US continues, but the dollar was unaffected as the markets seem to be patiently waiting for the politicians in Washington to get their act together.
Updates:

• Taking it to the wire: Idea of the Day It felt like we were heading towards an agreement in the US last week, only for...
• Video: US closer to the cliff, EUR/USD above support, USD/JPY squeezed: The October 17th debt ceiling deadline is creeping closer. Is market complacency about to end with a storm? In an...
• USD/JPY Targets Further Upside – Technical Analysis: Watch out for more upside as USDJPY remains bullish and targeting further gains. As long as it holds above the...
• Aussie continues to climb against the USD: It felt like we were heading towards an agreement in the US last week, only for it to fall apart...

USD/JPY daily chart with support and resistance lines on it.

1. Revised Industrial Production: Tuesday, 4:30. This manufacturing indicator bounced back from a sharp decline in August, posting a solid gain of 3.4% in September. This beat the estimate of 3.4%. It was the best reading from the indicator since January 2012. The markets will be looking for another strong reading this week.
2. BOJ Governor Haruhiko Kuroda: Friday, 6:35. Kuroda will be speaking at an event in Tokyo. Analysts will be listening closely for any hints as to the BOJ”s future monetary policy, and a speech which is hawkish is bullish for the yen.

TECHNICAL BEAM

A bearish wave pattern is expected to begin formation on this pair. Wave leg C is expected to reach an extreme point at 95.79 after completing its intermediary waves at 97.65 and 98.30 for B and C respectively.
The chart below show a possible move for this pair as described by our calculations.

NOTE: Price predictions produced by FibonacciPrice&PatternTrader may be affected by unforseen events like hurricane, earth quake, flood and other natural disasters consequently changing price patterns already predicted. Hence we advice strict adherence to money management techniques.

HAPPY TRADING

EURUSD COMPLETES 31.8% RETRACEMENT; BULLISH TURN IMMINENT

FUNDAMENTAL BEAM

EUR/USD traded in range on the US uncertainty and eventually closed the week marginally lower. Will it pick a new direction now? German ZEW Economic Sentiment, industrial and inflation data are the main market movers. Here is an outlook for the market moving events, and an updated technical analysis for EUR/USD that holds above uptrend support so far.
EUR/USD was supported by the US government shutdown and the upcoming debt ceiling deadline, as well as the poor jobless claims reading. Germany posted an unexpectedly strong trade surplus of 15.6 billion in September but Factory Orders dropped by 0.3% while expected to gain 1.2%. Germany is the leading economy in the Eurozone, having a strong impact on market sentiment. Will German economy growth pick-up in the coming week? Let’s start:

EURJPY CLOSE TO ESTABLISHING A NEW HIGH SINCE LATE 2009

TECHNICAL BEAM

This pair may be close to forming new high since it last did in close of 2009 financial trading year. If we go by our calculations, we expect the pair to rally up to complete a wave leg (iii) at 133.87 and further advance to 134.94 where a key resistance is said to be established.

EURGBP ELLIOT WAVE BEARISH LOOK AHEAD

TECHNICAL BEAM

   Since Janauary 18th, 2008 when the pair broke high above the ranging price that persisted as far back as 2004; It has continued to advance north of the chart against the Great Britain pounce. After a wave 2 leg completion, we should expect prices to the technical support of 0.8424 and beyond.

An intermediate wave a leg with a price tag of 0.8424 bearish is imminent followed by a 50% fibonacci expansion retracement to 0.8457 before it pattern can be alot better predicted. we expect market prices to continue south-east of the chart to 0.8391.

NOTE: Price predictions produced by FibonacciPrice&PatternTrader may be affected by unforseen events like hurricane, earth quake, flood and other natural disasters consequently changing price patterns already predicted. Hence we advice strict adherence to money management techniques.

HAPPY TRADING

AUDCHF STILL BULLISH ON PREDICTED FIBONACCI EXPANSION

   Aussie continue to enjoy bullish ride to complete a wave leg C as predicted by fibonacci sequence. This however is not surprising to us following its bullish breakout since early 2009. New highs continue to form on this pair and much more is expected as the australian economy continue to gather momentum.

AUDUSD BULLISH STRENGTH REDUCING; FIBONACCI 62.8% BEARISH RETRACEMENT IMMINENT

FUNDAMENTAL BEAM

   The Australian Central Bank’s meeting minutes showed once again that another rate cut is not imminent. This boosted AUD/USD and sent it to the lowest levels since mid June.
However, this 4 month high didn’t hold for too long and the pair retreated back down. Is it the false break before the real one? Or is this failed attempt? Despite the bullishness, here are 3 reasons that point to the latter option as well as the predicted technicals based on fibonacci.

GBPUSD CURRENTLY AIMING 50% FIBONACCI EXTENSION BULLISH TURN

Following my analysis of this pair some six days ago where i predicted its possible slide from a previous retracement. Pattern now indicate the pair is in for its bullish turn as a key support has just be established at 1.5923. This would therefore serve as a temporary key support for the short term after the bullish turn is over and the bear comes in for its share.