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FOREX Trading: EUR/USD is Bearish Below 12801

Jamie Saettele, CMT


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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