 Welcome to Tickmail Weekly Market Outlook for week commencing October 14th with me, Patrick Muller. The week ahead, we'll see more top tier data coming from the US with highlights being retail sales and industrial production. Retail sales numbers are essential to gauge the current state of US consumer spending, which is expected to remain solid mainly due to a robust labour market. Industrial production, meanwhile, is likely weighed down by manufacturing output, as indicated by the decade low ISM manufacturing index. Other data to watch out for is housing starts and building permits, the early batch of regional manufacturing surveys, as well as the NAHB Housing Market Index. Federal Reserve is also expected to publish its penultimate beige book for the year. From a technical perspective, the dollar index has duly tested our target down at the 98.22, and we saw some profit-taking late Friday. There is the potential that this has completed a three-way corrective pattern, and we could set a base here to target and retest prior highs. However, with the continuous momentum and sentiment divergence that I've highlighted over the previous weeks weighing on the market, I'm looking for a break of the 98s area to take us down to test 97.60 and then on towards the ultimate objective of the ascending trend line support down below the 97 level. Whilst we're looking at dollar index, let's check in with gold. Obviously, with the weakness that we've seen in the dollar index, gold has caught a bid, and I'm looking now for this 1480 area to continue to act as support, watching for bullish reversal patterns here to set long positions, targeting move up to the anticipated 1580 target level. However, any failure below 1460 would be a bearish development, looking then for a move down to test the 1440 support area. The data highlight for Canada over the balance of next week will be the Wednesday, September CPI data, existing home sales on Tuesday and manufacturing sales on Thursday as well as Hasquise data Friday, which will complete the domestic calendar next week. Absent any bullshels, market watchers doubt the election campaign will have any significant influence on the Canada. The Lulee took a hit this week and we have traded down as anticipated to test the support area at this 131.70 level. I'm now looking for a move down to test the monthly S1 at 131.20 and a failure below here will open a test of the 130 support area. Meanwhile in Europe, the Eurostat is releasing industrial production data, external trade numbers as well as the final reading of HICP inflation for September. Forward-looking indicators such as PMI and factory orders continue to paint a gloomy picture of the Eurozone manufacturing industry, suggesting that a turnaround is not really possible in the near to medium term. Aside from official data, we're also expecting the German ZEW survey of investor confidence, which is likely to continue its current streak of negative readings. From a technical perspective, the Eurodollar broke out this week taking out the descending trend line resistance at a 110 level. I'm now looking for any corrective pullbacks to the 109.50, two actors support whereby we'll be looking to set long positions confirmed by bullish reversal patterns to target a test of the major descending trend line resistance now coming in at just above 111. Failure below 109.50 would see a return to range and the potential to retest lows back down to the 109 level. Whilst we're looking at the Euro, let's check in with the DAX. DAX as we anticipated from last week's review found support at the 12,000 area and has since printed new cycle highs at 12,500. I'm now looking for this move to extend up to test the trend line support now to act as resistance from the test from below and I'll be looking for any bearish reversal patterns in and around this 12,700 area to set short positions initially targeting a move back down to test 12,200 from above. The UK, while Brexit sentiment continues to drive the market, focus will be on the all-important EU summit starting Thursday with fresh hopes for a last-minute deal being kept alive. Key data worth paying attention to are Tuesday's August jobs report as well as Wednesday's September CPI and retail sales, which are expected to remain soft. From a technical perspective obviously the Stirling has seen a considerable short squeeze this week, headline driven mainly and now what we're looking for is an equidistant swing pattern to play out and I'm looking for a test of this 128,13 area. We also have this sending trend line resistance projected in and around there as well. So I'll be watching for any bearish reversal patterns in this area just above 128 to set short positions targeting a move back down to test 125 as support as we find support in this 125 area then there is the potential that we retest prior highs giving a double top pattern again in and around 128. Failing below 125 opens trend line support back down towards the 123 area. Again watching for any bullish reversal patterns in this key area to set long positions looking for a move to target retest the 128. The Japanese data bag is lighter this week comprising of Friday's CPI which is expected to hold steady around the 0.5% and we also get industrial production on Tuesday BoJ Koroda will also speak on Tuesday at a branch managers meeting. The technical perspective, the dollar yen has taken out the trend line resistance coming in just above 108 and we are now testing the key resistance area 108.50. A close above this 108.50 will open the move to the anticipated 109.50 target area however if we fail to take out the 108.50 on a closing basis watch for bearish reversal patterns around this area to potentially set short positions targeting move back down to test the base at 106.50. Down under the RBA is releasing its October meeting minutes with further details around October's decision to cut while the crucial September jobs report is due Thursday where a moderate rise in employment is expected. Make technical perspective the Australian dollar held the 67 support area once again and has broken up to test the 68 area whereby some sellers have stepped in or profit taking more likely at the end of the week. Now it's going to be crucial this week if we can hold 67.50 as support then there is the potential to trade up to test the descending trend line resistance at the 69 level however if we can't break the 68 expect further consolidation frustrating both bulls and bears in this 68.67 range and that concludes the weekly market outlook for week commencing October 14th.