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
    1.3543-0.0019-0.14%
    USDSGD=X
    1.4814+0.00010.00%
    EURSGD=X
    2.0612+0.00010.00%
    GBPSGD=X
    91.9855-0.0216-0.02%
    SGDJPY=X
    5.7258+0.0075+0.13%
    SGDHKD=X
    2.7279+0.0073+0.27%
    SGDMYR=X
    9,770.8096+28.1377+0.29%
    SGDIDR=X
    4.5747+0.0013+0.03%
    SGDCNY=X
    1.0412+0.0094+0.91%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,189.60+0.90+0.08%
    GCQ15.CMX
    16.73+0.05+0.27%
    SIN15.CMX
    69.29-0.41-0.59%
    ^XAU
    2.73+0.01+0.22%
    HGN15.CMX
    60.15-0.05-0.08%
    CLN15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.56+0.09
    ^FVX
    2.19+0.10
    ^TNX
    2.95+0.10
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.76-0.04-4.40%
    N21.SI
    4.04-0.09-2.18%
    Z74.SI
    0.43+0.01+2.38%
    E5H.SI
    0.290.000.00%
    5WA.SI
    0.31-0.01-4.62%
    AFC.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.35+0.12+55.56%
    AWJ.SI
    0.19+0.05+36.69%
    40R.SI
    0.88+0.18+25.71%
    ATL.SI
    0.145+0.019+15.08%
    T16.SI
    0.315+0.045+16.67%
    MR8.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.104-0.016-13.33%
    E6R.SI
    0.34-0.05-12.82%
    5DN.SI
    0.29-0.04-12.12%
    AWK.SI
    0.260.000.00%
    H64.SI
    0.40-0.05-11.11%
    AWX.SI