Weekly Technical Forecast: Dollar and Equities Lose Traction Ahead, Leaving Next Week’s Break In Doubt
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Australian Dollar Forecast – AUD/USD Breakout Struggles, EUR/AUD Risks Reversing to August Lows
The breakout lower in AUD/USD struggled, next week may determine if it will continue. Meanwhile a bearish reversal pattern with support break warns EUR/AUD may reverse to August lows.
Euro Forecast – Euro Stalls at Wall of Resistance
The euro will start the week coming off resistance, keeping it amid the chop; tactical considerations outlined for both sides of the market.
Japanese Yen Forecast – Charts Spell Trouble for Yen
The Japanese Yen is entering the new week on weak footing, especially as the Nikkei 225 attempts a breakout.
Equity Forecast – Dow, S&P 500, DAX, FTSE and Nikkei
European equities finally found a bit of support as US equities pulled back to close the week. Global stocks appear to be lining up for an interesting Q4 around-the-world.
British Pound Forecast – Trend Support Needs Respecting
The daily GBPUSD chart shows further upside possible but the four-hour chart warns that the recent uptrend may be broken and drag and caution is needed.
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