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.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3621-0.0108-0.79%
    USDSGD=X
    1.4681-0.0067-0.45%
    EURSGD=X
    2.0202-0.0154-0.76%
    GBPSGD=X
    87.7657+0.2971+0.34%
    SGDJPY=X
    5.6905+0.0442+0.78%
    SGDHKD=X
    2.7028+0.0047+0.17%
    SGDMYR=X
    9,538.6025+22.5879+0.24%
    SGDIDR=X
    4.5517+0.0361+0.80%
    SGDCNY=X
    1.0378-0.0076-0.73%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,205.50+22.30+1.88%
    GCM15.CMX
    16.91+0.31+1.85%
    SIK15.CMX
    68.48+2.98+4.55%
    ^XAU
    2.75+0.01+0.31%
    HGK15.CMX
    49.61+2.01+4.22%
    CLK15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.32-0.06
    ^FVX
    1.86-0.08
    ^TNX
    2.46-0.08
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.188+0.005+2.73%
    A50.SI
    0.2850.0000.00%
    5WA.SI
    0.915-0.005-0.54%
    N21.SI
    0.785+0.020+2.61%
    Y92.SI
    0.415-0.010-2.35%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.19+0.05+35.71%
    5RC.SI
    0.42+0.09+27.27%
    5UL.SI
    0.42+0.07+21.74%
    5DS.SI
    0.152+0.016+11.76%
    K2P.SI
    0.127+0.011+9.48%
    V69.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.141-0.029-17.06%
    40B.SI
    0.092-0.013-12.38%
    A18.SI
    0.13-0.02-12.16%
    L10.SI
    0.495-0.055-10.00%
    TI6.SI
    0.112-0.011-8.94%
    B32.SI