FOREX Technical Analysis: British Pound Slips in Early Week Trading

Afternoon Technicals (all charts)

Other TA (crosses, COT, etc.)

FOREX Trading and Technical Analysis Observations

EUR/USD-As focused in FX Technical Weekly, the EUR/USD decline from Thursday’s high (12801) is impulsive which suggests that the larger downtrend has resumed. I am short as of this morning (from 12770, released via Twitter @JamieSaettele) with a 12805 stop. Exceeding 12801 would shift focus to former supports at 12824 and 12882.

AUD/USD-is nearing resistance from the 61.8% retracement of the decline from 10480 at 10406. I’m on the lookout for a top and reversal but understand that RBA minutes are due tonight. Exceeding 10480 would shift focus to 10550 (again).

USD/JPY-is showing signs (JS Spike bars on multiple time frames) of topping. The rally from 9/13 may be complete in 5 waves. Wave 5, from the 11/9 low, is also in 5 waves. Considering the 61.8% retracement of the decline from March at 8148, risk is to the downside.

AUD/JPY-is approaching a potentially HUGE pivot near 8500.

EUR/USD – 60 Minute Bars

FOREX_Technical_Analysis_British_Pound_Slips_in_Early_Week_Trading_body_eurusd.png, FOREX Technical Analysis: British Pound Slips in Early Week Trading

Prepared by Jamie Saettele, CMT

USD/JPY – Daily Bars

FOREX_Technical_Analysis_British_Pound_Slips_in_Early_Week_Trading_body_usdjpy.png, FOREX Technical Analysis: British Pound Slips in Early Week Trading

Prepared by Jamie Saettele, CMT

AUD/USD – Daily Bars

FOREX_Technical_Analysis_British_Pound_Slips_in_Early_Week_Trading_body_audusd.png, FOREX Technical Analysis: British Pound Slips in Early Week Trading

Prepared by Jamie Saettele, CMT

AUD/JPY – Weekly Candles

FOREX_Technical_Analysis_British_Pound_Slips_in_Early_Week_Trading_body_audjpy.png, FOREX Technical Analysis: British Pound Slips in Early Week Trading

Prepared by Jamie Saettele, CMT

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter for real time updates @JamieSaettele

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Jamie is the author of Sentiment in the Forex Market.

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.37210.000.00%
    USDSGD=X
    1.51070.000.00%
    EURSGD=X
    2.14350.000.00%
    GBPSGD=X
    90.31410.000.00%
    SGDJPY=X
    5.6483-0.0021-0.04%
    SGDHKD=X
    2.78610.000.00%
    SGDMYR=X
    9,846.24510.000.00%
    SGDIDR=X
    4.5255+0.0016+0.04%
    SGDCNY=X
    1.00250.000.00%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,095.30+6.90+0.63%
    GCQ15.CMX
    14.77+0.03+0.18%
    SIZ15.CMX
    47.57+0.92+1.98%
    ^XAU
    2.35-0.02-1.03%
    HGU15.CMX
    48.58-1.60-3.19%
    CLZ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.55-0.07
    ^FVX
    2.20-0.06
    ^TNX
    2.93-0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.455-0.065-12.50%
    N21.SI
    2.30-0.20-8.00%
    MC0.SI
    0.315-0.005-1.56%
    E5H.SI
    0.315+0.005+1.61%
    5WA.SI
    0.134-0.005-3.60%
    5DN.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.148+0.020+15.62%
    T77.SI
    0.18+0.02+12.50%
    AVX.SI
    0.365+0.035+10.61%
    5DS.SI
    0.194+0.015+8.38%
    Y08.SI
    0.37+0.03+7.25%
    P9D.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.20-0.08-27.27%
    5UO.SI
    0.325-0.065-16.67%
    5I3.SI
    0.205-0.040-16.33%
    5GD.SI
    0.17-0.03-15.00%
    D79.SI
    0.315-0.055-14.86%
    Y35.SI