Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account
DailyFX Home / Forex Technical Analysis / Daily Technical Analysis

DailyFX Technical Focus: 4/23/2014

By , Sr. Technical Strategist

23 April 2014 19:52 GMT

  • USDCAD 1.0980 and 1.1050 are near term trading levels
  • Looking to buy the dip for a larger trade
  • Daily Technicals

Jamie is founder of J.S. Trade Desk.

Elliott Wave Bias Table

Symbol S3 S2 S1 R1 R2 R3 Chart Links

EUR/USD Trades Higher…Then Lower; Wash, Rinse, Repeat


EUR/USD Trades Higher…Then Lower; Wash, Rinse, Repeat

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-EURUSD was never able to drop under 1.3642, finding low after NFP at 1.3672. Momentum wise, I am looking for a top. RSI at each top since December has been below 70. This weak momentum profile is not suggestive of a strong bull.

-The uncovered close at 1.3884 is now resistance but the failed rallies last week warn of something sinister on the downside. A break below 1.3750 would give scope to a breakdown towards 1.3476.

LEVELS: 1.3701 1.37531.3784 | 1.3845 1.3884 1.3909

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

Latest Topics in the Forex Trading Forums

GBP and JPY Pairs H1 2013
by Uber FX nUblet7
Today at 21:18
EURUSD H1 2013
by eolianpariah
Today at 19:47
Post of the Day
by Robert at DailyFX
Today at 19:33
GBP and JPY Pairs H1 2013
by Global Money
Today at 18:30