FOREX Trading: EUR/USD is Bearish Below 12801

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 Trading: EUR/USD is Bearish Below 12801

Prepared by Jamie Saettele, CMT

USD/JPY – Daily Bars

FOREX_Technical_Analysis_British_Pound_Slips_in_Early_Week_Trading_body_usdjpy.png, FOREX Trading: EUR/USD is Bearish Below 12801

Prepared by Jamie Saettele, CMT

AUD/USD – Daily Bars

FOREX_Technical_Analysis_British_Pound_Slips_in_Early_Week_Trading_body_audusd.png, FOREX Trading: EUR/USD is Bearish Below 12801

Prepared by Jamie Saettele, CMT

AUD/JPY – Weekly Candles

FOREX_Technical_Analysis_British_Pound_Slips_in_Early_Week_Trading_body_audjpy.png, FOREX Trading: EUR/USD is Bearish Below 12801

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
    1.4160+0.0002+0.02%
    USDSGD=X
    1.5708-0.0182-1.15%
    EURSGD=X
    2.1564-0.01-0.46%
    GBPSGD=X
    84.9463-0.0688-0.08%
    SGDJPY=X
    5.4738-0.0004-0.01%
    SGDHKD=X
    2.9888+0.0109+0.36%
    SGDMYR=X
    10,010.6299-5.333-0.05%
    SGDIDR=X
    4.4888-0.0009-0.02%
    SGDCNY=X
    0.9945-0.0023-0.23%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,123.10-10.50-0.93%
    GCZ15.CMX
    14.660.00-0.01%
    SIZ15.CMX
    46.42+0.18+0.40%
    ^XAU
    2.39+0.06+2.51%
    HGZ15.CMX
    47.59+1.34+2.90%
    CLV15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.50-0.02
    ^FVX
    2.18-0.01
    ^TNX
    2.960.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.310.000.00%
    5WA.SI
    0.1320.0000.00%
    5DN.SI
    0.13+0.01+10.17%
    5GJ.SI
    3.70+0.03+0.82%
    Z74.SI
    0.140.00+3.70%
    AFC.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.205+0.047+29.75%
    L02.SI
    0.59+0.08+15.69%
    UD3.SI
    0.17+0.02+13.33%
    40N.SI
    0.19+0.02+11.76%
    5G1.SI
    0.195+0.019+10.80%
    KJ5.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.415-0.070-14.43%
    MN5.SI
    0.117-0.018-13.33%
    510.SI
    0.124-0.016-11.43%
    TI6.SI
    0.66-0.08-10.81%
    AXV.SI
    0.55-0.06-10.57%
    AXZ.SI