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
    1.3511-0.0007-0.05%
    USDSGD=X
    1.4509-0.0008-0.06%
    EURSGD=X
    2.0171-0.0002-0.01%
    GBPSGD=X
    88.5671+0.0262+0.03%
    SGDJPY=X
    5.7358+0.0023+0.04%
    SGDHKD=X
    2.6884+0.0037+0.14%
    SGDMYR=X
    9,592.1904+4.5869+0.05%
    SGDIDR=X
    4.5879+0.0012+0.03%
    SGDCNY=X
    1.0423-0.0005-0.05%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,202.30-0.80-0.07%
    GCM15.CMX
    15.98-0.03-0.17%
    SIK15.CMX
    71.22+0.01+0.02%
    ^XAU
    2.700.00-0.19%
    HGK15.CMX
    56.27-0.34-0.60%
    CLM15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.34+0.02
    ^FVX
    1.92+0.02
    ^TNX
    2.59+0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.23+0.01+4.55%
    5GB.SI
    0.2950.0000.00%
    5WA.SI
    0.87-0.01-1.69%
    N21.SI
    4.35-0.06-1.36%
    Z74.SI
    1.045+0.020+1.95%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.275+0.035+14.58%
    5TS.SI
    0.295+0.030+11.32%
    G10.SI
    0.36+0.04+10.77%
    K29.SI
    0.535+0.050+10.31%
    P9D.SI
    0.114+0.008+7.55%
    J8O.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.20-0.05-20.00%
    5WD.SI
    0.11-0.02-15.38%
    5GF.SI
    0.225-0.030-11.76%
    41H.SI
    0.181-0.017-8.59%
    40N.SI
    0.72-0.06-7.69%
    AUE.SI