FOREX Trading: EUR/USD Dip Encounters Support at 13070

Afternoon Technicals (all charts)

Other TA (crosses, COT, etc.)

FOREX Trading and Technical Analysis Observations

The EURUSD bullish break in early December remains valid as long as price is above 12875. Although price failed to reach the trendline that extends off of the 2012 lows, a flat interpretation of price pattern from the December high is valid. An RSI reversal signal is evident on the daily as well (RSI above 40 but lower than where RSI was at the previous pivot). With this in mind, I bought the dip into 13070. Monday’s low is critical to the near term bullish case and estimated resistance (if the EURUSD does indeed advance) is former support at 13158.

Keep an eye on the EURAUD, which rebounded sharply from trendline support and the 61.8% retracement of the most recent bull leg yesterday.

EURUSD - Daily

FOREX_Trading_EURUSD_Dip_Encounters_Support_at_13070_body_eurusd.png, FOREX Trading: EUR/USD Dip Encounters Support at 13070

Prepared by Jamie Saettele, CMT

EURAUD –Daily

FOREX_Trading_EURUSD_Dip_Encounters_Support_at_13070_body_euraud.png, FOREX Trading: EUR/USD Dip Encounters Support at 13070

Prepared by Jamie Saettele, CMT

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter for real time updates @JamieSaettele

Subscribe to Jamie Saettele's distribution list in order to receive actionable FX trading strategy delivered to your inbox.

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.
Learn forex trading with a free practice account and trading charts from FXCM.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
  • Singapore scion buys 49 percent stake in Rolling Stone AFP News - 13 minutes ago

    A Singapore firm headed by a scion of one of Asia's richest families has bought a 49 percent stake in Rolling Stone, with plans to diversify the iconic magazine into new business including live events and merchandising. BandLab Technologies, a … More »

  • German business confidence soars as Brexit fears 'disappear'
    German business confidence soars as Brexit fears 'disappear' AFP News - 15 minutes ago

    German business confidence soared to its highest level in more than two years in September, the Ifo economic institute said Monday, recovering from a post-Brexit slump and signalling a rosier outlook for Europe's largest economy. "The German … More »

  • UK mortgage approvals hit 19-month low, more weakness seen
    UK mortgage approvals hit 19-month low, more weakness seen Reuters - 17 minutes ago

    Britain's housing market showed signs of slowing in August with the number of mortgages approved by banks falling to its lowest level since January 2015 and analysts said they expected further weakness ahead as Brexit uncertainty dampens demand next … More »

  • BOJ's Kuroda sees no big rise or fall in bond buying for now
    BOJ's Kuroda sees no big rise or fall in bond buying for now Reuters - 17 minutes ago

    The pace at which the Bank of Japan buys bonds will depend on what is needed to achieve its yield curve target but no big increases or decreases were expected for now, Governor Haruhiko Kuroda said on Monday, dampening speculation that the BOJ was … More »

  • AP Top Extended Financial Headlines at 5:56 a.m. EDT Associated Press - 29 minutes ago

    Global shares are mostly lower as market attention turns from central bank policies to the U.S. presidential race ahead of a highly anticipated debate … More »

  • PBOC Drains Most Funds in Six Months Amid Debt Curb Speculation Bloomberg - 32 minutes ago

    The monetary authority has signaled that it wants to limit runaway borrowing, with Deputy Governor Yi Gang cited as saying that the goal is to bring down leverage ratio growth. The central bank has in the past month restarted the use of both 14- … More »

  • Contagion Risks Rise as China Banks Fund Each Others’ Loans (3) Bloomberg - 35 minutes ago

    Wholesale funds, including those raised in the interbank market, accounted for a record 34 percent of small- and medium-sized bank financing as of June 30, compared with 29 percent on Jan. 31 last year, Moody’s Investors Service estimated in an Aug. … More »

  • Gold slips on firm dollar; market focuses on U.S. debate outcome
    Gold slips on firm dollar; market focuses on U.S. debate outcome Reuters - 39 minutes ago

    Gold prices edged lower on Monday as the dollar firmed, though the market is focused on the outcome of the U.S. presidential debate later in the day, that could see investors buying more of the metal as a hedge against financial uncertainty. Spot … More »

  • S.Korea prosecutors seek arrest warrant for Lotte Group chairman Reuters - 41 minutes ago

    South Korean prosecutors asked a court on Monday to approve an arrest warrant for the chairman of the Lotte Group conglomerate on suspicion of embezzlement and breach of trust, a prosecution source with direct knowledge of the matter said. The … More »

  • Carige eyeing state guarantee in 900 million euro bad loan sale - sources Reuters - 46 minutes ago

    Banca Carige is considering using a state guarantee to sell 900 million euros ($1 billion) in bad loans, two sources close to the matter said on Monday, as Italian banks seek to tackle a major source of weakness for their balance sheets. The … More »

  • Top tech investor Marc Andreessen has quit Twitter (again)
    Top tech investor Marc Andreessen has quit Twitter (again) Business Insider - 48 minutes ago

    Michael Kovac/Getty Images for Vanity Fair Marc Andreessen. … Continued The post Top tech investor Marc Andreessen has quit Twitter (again) appeared first on Business Insider. … More »

  • Markets drop as Fed rally vanishes
    Markets drop as Fed rally vanishes AFP News - 56 minutes ago

    World markets dropped on Monday, picking up where they left off after last week's Fed-inspired rally ran out of steam. The stay of execution for easy money served to bolster the Japanese yen, knocking the stuffing out of Tokyo which ended down 1.25 … More »

  • TABLE-TOCOM Sept rubber deliveries at 279 lots Reuters - 1 hour 0 minutes ago

    TOKYO, Sept 26 (Reuters) - Following are deliveries and expiry prices of contracts that have expired on the Tokyo Commodity Exchange in the past six months. Each lot is for 5 tonnes. Contract Sept Aug ... … More »

  • How Russia's central bank chief held the line Reuters - 1 hour 2 minutes ago

    One Thursday evening in March, Elvira Nabiullina, governor of Russia's central bank, faced down a rival in the struggle for influence inside President Vladimir Putin’s entourage. At a meeting chaired by Putin, Economy Minister Alexei Ulyukayev … More »

  • Oil steady as market awaits Algiers meeting; funds cut bullish bets
    Oil steady as market awaits Algiers meeting; funds cut bullish bets Reuters - 1 hour 6 minutes ago

    Oil held steady on Monday, as the world's largest producers gathered in Algeria to discuss ways to support the market, although scepticism about any deal being reached has prompted money managers to cut their bullish bets to a one-month low. Price … More »

  • China Stocks Decline Most in Two Weeks as Volatility Resurfaces Bloomberg - 1 hour 15 minutes ago

    Hong Kong’s Hang Seng Index retreated 1.6 percent, paring Asia’s best quarterly performance. The sudden drop came after turnover on China’s equity exchanges fell to the lowest level in two years as a booming housing market and an equity rally … More »

  • Alibaba keen to promote Sabah's tourist attractions in China Business Times - 1 hour 15 minutes ago

    HANGZHOU: Global online marketing giant Alibaba Group has expressed readiness to help promote Sabah's tourism attractions through its online travel marketing platform, Alitrip. Its General Manager for Destination Division, Tony Duan, said Alibaba … More »

  • Brexit shock has been digested for now, Ifo economist says
    Brexit shock has been digested for now, Ifo economist says Reuters - 1 hour 24 minutes ago

    MUNICH (Reuters) - The shock over Britain's decision to quit the European Union has been overcome for now, Ifo economist Klaus Wohlrabe told Reuters on Monday after the institute's monthly survey showed ... … More »

  • China flies military planes over strait near Japan
    China flies military planes over strait near Japan AFP News - 1 hour 28 minutes ago

    China has sent fighter planes for the first time over a strait near Japan, the two governments said Monday, after Tokyo announced it may patrol alongside the US in the disputed South China Sea. More than 40 Chinese military aircraft on Sunday … More »

  • South Korea prosecutors seek arrest warrant for Lotte Group chairman
    South Korea prosecutors seek arrest warrant for Lotte Group chairman Reuters - 1 hour 33 minutes ago

    South Korean prosecutors asked a court on Monday to approve an arrest warrant for the chairman of the Lotte Group conglomerate on suspicion of embezzlement and breach of trust, a prosecution source with direct knowledge of the matter said. The … More »

  • Germany's Lanxess to buy U.S chemical firm Chemtura for $2.7 billion
    Germany's Lanxess to buy U.S chemical firm Chemtura for $2.7 billion Reuters - 1 hour 36 minutes ago

    Lanxess AG is to buy U.S. speciality chemical company Chemtura for 2.4 billion euros (2 billion pounds) including debt in the German company's largest ever takeover, moving it further away from its main synthetic rubber business. Lanxess's offer … More »

  • Robert Kuok's grandnephew buys 49pct stake in Rolling Stone Business Times - 1 hour 40 minutes ago

    SINGAPORE: A Singapore firm headed by a scion of one of Asia’s richest families has bought a 49 percent stake in Rolling Stone, with plans to diversify the iconic magazine into new business including live events and merchandising. BandLab … More »

  • Lessons to learn from property investors
    Lessons to learn from property investors ZUU online - 1 hour 44 minutes ago

    Lessons to learn from property investors What does it mean to be truly wealthy? Or at least to... … More »

  • Don't expect pace of JGB buying to fluctuate sharply - BOJ Kuroda Reuters - 1 hour 49 minutes ago

    OSAKA, Japan (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Monday he does not expect the pace of the central bank's government bond buying to increase or decrease sharply for the time being. ... … More »

  • Robert Kuok's nephew buys 49pct stake in Rolling Stone Business Times - 1 hour 49 minutes ago

    SINGAPORE: A Singapore firm headed by a scion of one of Asia’s richest families has bought a 49 percent stake in Rolling Stone, with plans to diversify the iconic magazine into new business including live events and merchandising. BandLab … More »

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.138+0.002+1.47%
    N21.SI
    0.74+0.02+2.78%
    BS6.SI
    0.141-0.002-1.40%
    5DM.SI
    0.265-0.005-1.85%
    5ME.SI
    0.355-0.005-1.39%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.225+0.025+12.50%
    BTF.SI
    0.475+0.050+11.76%
    AWC.SI
    0.147+0.011+8.09%
    5NF.SI
    0.60+0.04+7.14%
    BDR.SI
    0.195+0.013+7.14%
    43B.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.345-0.060-14.81%
    BLR.SI
    1.16-0.20-14.71%
    P01.SI
    0.164-0.026-13.68%
    AWI.SI
    0.22-0.03-12.00%
    BJD.SI
    0.425-0.055-11.46%
    BLL.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3607+0.0026+0.19%
    USDSGD=X
    1.5304+0.0068+0.45%
    EURSGD=X
    1.7615+0.0043+0.24%
    GBPSGD=X
    73.8230-0.299-0.40%
    SGDJPY=X
    5.6972-0.0083-0.15%
    SGDHKD=X
    3.0403+0.0135+0.45%
    SGDMYR=X
    9,595.6553-59.8779-0.62%
    SGDIDR=X
    4.9009-0.0057-0.12%
    SGDCNY=X
    1.0373+0.0023+0.22%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,340.80-0.90-0.07%
    GCZ16.CMX
    19.51-0.30-1.49%
    SIZ16.CMX
    95.76-3.02-3.05%
    ^XAU
    2.19-0.01-0.57%
    HGZ16.CMX
    43.85+0.41+0.94%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.15-0.02
    ^FVX
    1.62-0.02
    ^TNX
    2.34-0.01
    ^TYX