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

Subscribe to Jamie Saettele's distribution list in order to receive actionable FX trading strategy delivered to your inbox once a day.

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.
Learn forex trading with a free practice account and trading charts from FXCM.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3796-0.0018-0.13%
    USDSGD=X
    1.5374-0.0016-0.10%
    EURSGD=X
    2.0282+0.0081+0.40%
    GBPSGD=X
    79.9811+0.3734+0.47%
    SGDJPY=X
    5.6279+0.0041+0.07%
    SGDHKD=X
    2.9710-0.0017-0.06%
    SGDMYR=X
    9,874.2744-1.5781-0.02%
    SGDIDR=X
    4.7561+0.0107+0.23%
    SGDCNY=X
    0.9929+0.0002+0.02%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,221.60-7.60-0.62%
    GCM16.CMX
    16.28+0.03+0.19%
    SIN16.CMX
    80.15
    ^XAU
    2.10+0.03+1.67%
    HGN16.CMX
    49.19+0.57+1.17%
    CLN16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.41
    ^FVX
    1.87
    ^TNX
    2.65
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.3050.0000.00%
    N21.SI
    0.114+0.006+5.56%
    40E.SI
    0.715+0.005+0.70%
    G13.SI
    1.785+0.015+0.85%
    MC0.SI
    3.82+0.01+0.26%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.40+0.04+11.11%
    567.SI
    0.65+0.05+9.24%
    5TG.SI
    0.475+0.040+9.20%
    A26.SI
    0.39+0.03+8.33%
    42E.SI
    0.123+0.009+7.89%
    510.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.86-0.18-17.31%
    AWM.SI
    0.139-0.026-15.76%
    5WD.SI
    0.25-0.04-15.25%
    I06.SI
    0.29-0.03-9.38%
    BLU.SI
    0.80-0.07-8.05%
    BCX.SI