Main charts to keep an eye on over the next week, via Goldman Sachs, which sucks at predicting GDP but is good at providing "
market color." Remember: when in doubt use cephalopod reverse psychology.
EURUSD ST - Corrects lower, but underlying trend looks intact as long as above 1.4480-1.4448. The 55-dma should also be good support at 1.4587.
EURUSD Seasonality - November-December tends to be a positive period. Over the past decade the market has closed up 8 times and down only 2 over this period, just something to keep in mind.
USD index - Consolidating above the 76.4 of the bounce from the March '09 lows. This is an important level so we are watching very closely for any signs of a base. 55-dma at 77.00 critical.
Oil - Bounces from above the pivot region 75.27-73.38. The break looks intact with chances of a test of the 89.84-90.51 resistance region still in place at this stage.
Gold - Corrects but holds support around 1,030. The target of the triangle break hasn't been met as yet.
S&P - 1,051-1,045 looks the pivot to watch for now. The market made only a very marginal close below on Wednesday. For now too early to say this is more than a correction.
USDJPY - Consolidating following initial bounce from the 7th October lows. The signs of a base developing remain for now, but it needs yield support.
U.S. 2-year yields - Continuing to watch developments here very closely. 1.03-1.07% looks the most important pivot to watch. Above there 1.38-1.45%.
Nikkei - Looks the weakest of the G10 markets. Has moved to initial support of the H&S top neckline, but overall looks very heavy.
Japanese 10-year yields - Breaking higher with the curve steepening. The 10s2s curve in Japan looks like it can run to the '04 highs at 162 basis points 10s over 2s.
EURSEK/EURNOK - Correct higher but hold the right levels for now. Overall still look heavy at this point.
AUDUSD - Corrects within broader uptrend. Pivots on the dowsndie 0.8858 then 0.8730-0.8726.
AUDNZD - Looking increasingly bullish. Now on track for a bullish engulfing week in addition to the bullish weekly reversal against the lows. Back to the April highs at 1.2938?
NZDUSD - 55-dma a very clear pivot here. The market has been above on a close basis since 17th March. Stands at 0.7123. Close below would leave the 200-dma currently at 0.6224.
USDINR - Correction done? Today (Thursday) the market has posted a very agressive shooting star (blow out) pattern against the high of the correction. Structurally still looks heavy.
INRJPY - Interesting way to be short-JPY? 76.4 retrace against the all time low form January. Overall looks bullish.
