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
    1.3771-0.0006-0.04%
    USDSGD=X
    1.5104+0.0012+0.08%
    EURSGD=X
    2.1460-0.0014-0.07%
    GBPSGD=X
    90.0486+0.0435+0.05%
    SGDJPY=X
    5.6304+0.0026+0.05%
    SGDHKD=X
    2.7984-0.0009-0.03%
    SGDMYR=X
    9,783.6758+2.8623+0.03%
    SGDIDR=X
    4.5095+0.002+0.04%
    SGDCNY=X
    1.0165+0.0139+1.39%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,090.40+1.20+0.11%
    GCU15.CMX
    14.54-0.02-0.15%
    SIZ15.CMX
    45.54-2.03-4.26%
    ^XAU
    2.36+0.02+0.72%
    HGU15.CMX
    46.09+0.53+1.16%
    CLV15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.51-0.03
    ^FVX
    2.15-0.05
    ^TNX
    2.86-0.07
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.60+0.13+27.66%
    N21.SI
    2.35+0.15+6.82%
    MC0.SI
    0.32+0.01+3.23%
    E5H.SI
    0.129+0.006+4.88%
    5DN.SI
    0.310.000.00%
    5WA.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.60+0.13+27.66%
    N21.SI
    0.445+0.065+17.11%
    AZT.SI
    0.31+0.05+16.98%
    578.SI
    0.15+0.02+16.28%
    EB7.SI
    0.119+0.014+13.33%
    5FR.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.23-0.04-14.81%
    5WR.SI
    0.425-0.060-12.37%
    MN5.SI
    0.20-0.02-9.09%
    L02.SI
    0.164-0.016-8.89%
    5KU.SI
    0.42-0.04-8.70%
    AZZ.SI