 Welcome to Tick Meal Weekly Market Outlook for Weekmen's in the 21st of October with me, Patrick Munally. A lighter data bag in the US this week, which comprises of Monday's housing numbers, both existing in new home sales as well as FHFA, House Price Index, Flash Market PMI readings are released Thursday. US manufacturers continue to feel the weight of global risks and the US dollar's resilience. On the services side, a softening consumer could be a threat to services looking ahead. Thursday also sees durable goods order data with the underlying investment trend lacking to remain weak. We also get regional manufacturing PMIs and we wrap up the week with Friday's University of Michigan sentiment index. A sentiment likely to be under some pressure, but robust overall. From a technical perspective, the dollar index duly broke down as we anticipated and now let's poise to test the ascending trend line support target down at the 9680 level. Look for any pullbacks into the beginning of the week as opportunities to set short positions targeting this area. As we test this area, expect some support on the first test and again, any three way of corrective patterns will once again be opportunities to set short positions bearing in mind the impulsive nature of the current decline. Oh, we're talking about the dollar index. Let's check in with gold. Gold held the support area as anticipated and we now look for a move through the 1500 level to set an upside objective to test the weekly R2 and the yearly R3 pivot up at this 1580 to 1590 area. Only a failure below 1460 will concern this bullish bias, suggesting a move down to test support at the 1440 level. Canada kicks the week off with a bang when voters head to the polls to elect a new federal government. Significant data risk will ensube or could get lost in the reporting of the election results. As for potential market effects, traders are likely a little trigger shy on that front after markets saw unexpected results standing from other major political developments over recent years, such as the 2016 Brexit referendum and the US election vote. Added reasons to be cautious is that the federal election results will be digested into the same global markets that will be dealing with the aftermath and potential next steps in the ongoing Brexit saga. Data from Canada updates retail sales and wholesale trade data for August on Tuesday and Wednesday respectively. These will be the last readings to inform the final estimates of August GDP due out on Halloween. Remain 10 of perspective. Canadian Dollar broke down to test our targets at the 131.30 level. As this area supports at the beginning of the week, look for any pullbacks back into the 132.30 to 132.50 area as an opportunity to set new short positions, ultimately targeting a move down to test support at the psychological 130 level. The European data, I mean, while next week is going to be pretty limited to the flash consumer confidence index and flash market PMIs. Mainly markets will be paying attention to the ECB's governing council meeting and President Mario Draghi's final conference as his eight-year stint as the ECB chief comes to an end on the 31st of October. Draghi is set to be replaced by former IMF managing director Christine Lagarde and her arrival coincides with the revival of the central bank's restart of the asset purchase programme on 1 November. After cutting the key deposit rate by 10 basis points to negative 0.5% in September, market watchers expect ECB to keep all interest rates on hold this time round, as well as making little change to its policy statements before Lagarde takes the helm. From a technical perspective, the euro dollar traded up to our target area of the 111.40, 111.50, and we are now testing highs of the week at the 111.75 to 111.80 area. As the 111.90 caps this current advance, I'd be looking as any three-wave pullbacks as opportunities to set new long positions, especially if we test down into the 111.50 support area. This is where I'd be paying most attention looking for a move up then to breakthrough prior highs at this 112 area, ultimately targeting a move up to 113 on this next leg, which will be an equality setup. While we're talking about the euro, let's check in with the DAX. The DAX tested our target zone at the 12,790 level, which is also the underside of the prior trend line support, now acting as resistance, and we saw seller stepping into the market. I'm personally looking for a confirmation to do something on the short side with the close below the near term volume weighted average price. Once I get that, I'll be setting short positions, targeting a move down to test the 12,260 level as support. In the UK, obviously, all the attention is on the Brexit saga and the ongoing developments. This weekend, the Letwin amendment passed with votes of 322 against 306, and Boris Johnson was forced to send a letter to the EU asking for a Brexit extension, but the drama is only just beginning. Johnson will hold a vote on his Brexit deal as soon as Monday, depending upon what Speaker of the House Berger decides. What happens next is now Boris has sent a letter he will try on Monday to get Parliament to support the principle of his deal, followed by presenting the withdrawal bill on Tuesday. The good news for traders is that the vote will take place after the markets reopen. Cable traded up through our target zone of the 129 level and tested the psychological 130 level. As this area caps the current advance, look for any pullbacks into the 126 area as opportunities to set new long positions, ultimately targeting a test of 132. A failure for all the support of 126 would open a test of the ascending trend line support, now coming in around the 12380 level. Again, this will be another opportune area where we could look to set long positions with bullish key reversal patterns. Again, same target 132. In the Asian docket, the bulk of the data will come from Japan, which includes the trade report, the flash bank PMIs, the oil industry index, leading index and machine tool orders. Markets expect that the ongoing weakness in global manufacturing is likely to weigh on the Japanese tool orders and leading index data. Technical perspective, sellers stepped in at the 109 target area and we closed on a bullish, sorry, a bearish, key reversal day on Friday, closing below the five period volume wasted average price. This now sets up a move to test the 107 area as support. Any pullbacks from that 107 into this 10840 would be an opportunity to set short positions. Targeting an ultimate move down now to test 106.50 of support. Down under in Australia, there's a distinct lack of two-one data this week. RBA Assistant Governor for Financial Markets Chris Kent speaks on Wednesday on a panel that swaps in derivatives forum. Friday sees the only data release of the week with the 2018-2019 annual national accounts. Traders, are we watching for any significant revisions? From a technical perspective, the Australian dollar has broken higher and is looking poison out to test our initial target of this 69 level, which is the major descending trend line resistance. Be watching the 69 test and bearish reversal of daily patterns there to set tactical short positions targeting a move to test back down to the 68 areas as support. As this area contains any pullbacks, I'd be looking for bullish daily reversal patterns to set long positions, ultimately now targeting a move up to the 77th level. And that concludes the weekly market outlook for week commencing the 21st of October.