Talking Points:
– EUR/USD continues to follow its daily 8-EMA lower.
– USD/JPY, GBP/JPY post outside reversal bars – not EUR/JPY.
– See the November forex seasonality report that forecasts US Dollar strength.
In a week where central bankers’ speeches are set to dominate the headlines, FX markets may have already started to hint at their biases for upcoming moves. After a promising start yesterday, both USD/JPY and GBP/JPY posted outside engulfing bar/key reversal patterns that typically portend to bullish outcomes. Yet there are a few outliers: mainly, the EUR-crosses.
See the video above for technical considerations in EUR/USD, EUR/JPY, USD/JPY, GBP/USD, GBP/JPY, and AUD/USD.
Read more: EUR/USD Direction Next Few Days Contingent on EZ CPI, ECB Speeches
— Written by Christopher Vecchio, Currency Strategist
To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com
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Source: Daily fx
