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.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3683+0.0058+0.43%
    USDSGD=X
    1.5148-0.0085-0.56%
    EURSGD=X
    2.0897-0.0034-0.16%
    GBPSGD=X
    87.4903-0.3299-0.38%
    SGDJPY=X
    5.6678-0.024-0.42%
    SGDHKD=X
    2.6686+0.009+0.34%
    SGDMYR=X
    9,518.7461-11.5332-0.12%
    SGDIDR=X
    4.5826-0.0227-0.49%
    SGDCNY=X
    1.0694+0.0042+0.39%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,220.00+6.90+0.57%
    GCJ15.CMX
    16.74+0.18+1.10%
    SIK15.CMX
    72.81-0.99-1.35%
    ^XAU
    2.71+0.02+0.65%
    HGK15.CMX
    49.23-0.53-1.07%
    CLJ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.60-0.01
    ^FVX
    2.12-0.01
    ^TNX
    2.710.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    100.014+0.0020.00%
    41H.SI
    0.280.000.00%
    5WA.SI
    0.425+0.010+2.41%
    E5H.SI
    1.00-0.01-0.99%
    N21.SI
    0.73+0.02+2.82%
    Y92.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.35+0.05+16.67%
    Y06.SI
    0.139+0.019+15.83%
    O2I.SI
    0.315+0.040+14.55%
    AFC.SI
    0.144+0.014+10.77%
    5GF.SI
    0.33+0.03+10.00%
    5VI.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.21-0.03-12.50%
    5PL.SI
    0.105-0.010-8.70%
    5TN.SI
    0.225-0.020-8.16%
    MR8.SI
    0.183-0.015-7.58%
    B69.SI
    0.29-0.02-6.45%
    PA3.SI