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
    1.3871-0.0044-0.32%
    USDSGD=X
    1.5675-0.0021-0.13%
    EURSGD=X
    2.0184-0.0042-0.21%
    GBPSGD=X
    81.2716-0.267-0.33%
    SGDJPY=X
    5.6150+0.0143+0.25%
    SGDHKD=X
    2.9564-0.0083-0.28%
    SGDMYR=X
    9,654.8555-7.0332-0.07%
    SGDIDR=X
    4.7369+0.014+0.30%
    SGDCNY=X
    0.9863-0.0012-0.12%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,206.80+12.20+1.02%
    GCJ16.CMX
    15.38+0.09+0.61%
    SIH16.CMX
    55.40+1.06+1.94%
    ^XAU
    2.00-0.02-1.18%
    HGH16.CMX
    27.01-0.44-1.60%
    CLH16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.15-0.01
    ^FVX
    1.70-0.02
    ^TNX
    2.53-0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    3.62-0.04-1.09%
    Z74.SI
    0.320.00-1.54%
    N21.SI
    0.665-0.020-2.92%
    G13.SI
    1.615-0.015-0.92%
    MC0.SI
    0.3350.0000.00%
    5SO.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    62.06+7.42+13.58%
    NF6.SI
    0.23+0.02+9.52%
    5TP.SI
    34.85+3.03+9.52%
    NF4.SI
    45.85+3.25+7.63%
    LF2.SI
    10.13+0.66+6.97%
    I19.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.28-0.05-15.15%
    R07.SI
    0.23-0.03-13.21%
    F86.SI
    0.24-0.02-7.69%
    AXH.SI
    72.61-5.43-6.96%
    P2Q.SI
    0.134-0.010-6.94%
    T13.SI