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  • despite the theatrics elsewhere, $Gold has held last week's low through this week's open, at least so far even getting a bump higher. resistance potential 1769-1775 $GC $GLD https://t.co/4mbBa8Yzhu
  • While there is no doubt a risk aversion wave at play now, it can still burn itself out with years of complacency and the expectations of Fed on Wed (anticipation can take the wind out of sails). But if/when the Dollar takes off pre-FOMC, that would be. https://t.co/3qFNBQEEA3
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  • EUR/USD extends the series of lower highs and lows from the previous week as European Central Bank (ECB) officials defend the dovish forward guidance for monetary policy. Get your $EURUSD market update from @DavidJSong here:https://t.co/4dgXe9lMik https://t.co/5CkSsQKawh
  • There are reasonable disputes over where technical boundaries exist from people with different views, charts, time frames, etc. I think this $SPX gap down and drive below the 50-day SMA clearly qualifies as a break https://t.co/M15HsOyvoG
  • Some people like a quiet market that edges higher consistently day in and day out. I am not one of those people. I like volatility
  • 🇺🇸 NAHB Housing Market Index (SEP) Actual: 76 Expected: 74 Previous: 75 https://www.dailyfx.com/economic-calendar#2021-09-20
  • The Fed has a rate decision on Wednesday which means that they’re in a blackout period now, preventing the possibility of Fed-speak to perk markets up until we hear the rate decision later this week. Get your market update from @JStanleyFX here:https://t.co/bYjo3Blq51 https://t.co/F51NbRoIOi
  • Heads Up:🇺🇸 NAHB Housing Market Index (SEP) due at 14:00 GMT (15min) Expected: 74 Previous: 75 https://www.dailyfx.com/economic-calendar#2021-09-20
  • quick write-up ahead of the us equity open https://www.dailyfx.com/forex/market_alert/2021/09/20/stocks-hit-as-evergrande-risk-begins-to-spread.html https://t.co/e1KeExz369
Triggered Long EUR/USD, EUR/AUD and EUR/CHF

Triggered Long EUR/USD, EUR/AUD and EUR/CHF

Jamie Saettele, CMT, Sr. Technical Strategist

The EURUSDresponded at trendline support beneath 13500 and the aggressive impulsive bullish count is valid above 13403. Look higher. Potential resistance before Friday’s high comes in from the 61.8% retracement of the decline at 13613. Risk is 13403 (daily closing) and will tighten the stop once price trades 13580.

The EURAUD is well off of the lows set last night on the release of the RBA rate decision. Trendline support isn’t until about 12830 today. The line increases about 30 pips per day. The long term bullish breakout is valid against 12568. The target from the inverse head and shoulders isn’t until above 14000. Riskis 12835 and will tighten the stop once price trades 13085.

The EURCHF may be searching for an important low. Price is testing the 50% of the advance from the ‘floor’. I’m bullish as long as price is above the former range high of 12183 (daily closing basis). Riskis 12183 (daily closing basis) and will tighten stop once price trades 12400.

Daily Technicals (all USD crosses, gold, crude)

--- 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

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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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