We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bullish
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • RT @ReformedBroker: “The digital yuan China is planning is in fact a complete inversion of the bitcoin model. All of the data created would…
  • The $CAD rose on a hopeful tone from the Bank of Canada, but the largest risk to the central bank’s outlook remains unresolved. NZD/CAD has rallied. Will AUD/CAD follow as CAD/JPY sinks? Get your market update from @ddubrovskyFX here: https://t.co/AairskIHA5 https://t.co/f53ZzloW4u
  • The latest UK General Election opinion polls continue to show the Conservative Party holding a strong lead over Labour and point to Boris Johnson winning a working majority in Parliament. Get your $GBPUSD market update from @nickcawley1 here: https://t.co/qF04EOUWkI https://t.co/LNl4bXbnpp
  • Recent polls have put Conservatives ahead of Labour and given a boost to $GBP. Get your #Brexit update from @ZabelinDimitri here: https://t.co/l2n53C0cYY https://t.co/oTWfXkaDDt
  • What are the truths and myths of #forex trading? Find out from @DailyFX analysts here: https://t.co/uF75VPzstr #FOMOintrading https://t.co/xeromAGqqx
  • Macro data from around the world have long attested to the urgent need for a trade settlement between the US and China. Increasingly the corporate numbers are saying the same. Get your market update from @DavidCottleFX here:https://t.co/Qon7QUO80c https://t.co/rCOG78QQ2M
  • #Gold prices may fall while the US Dollar gains even as economic policies championed by the Trump administration invite inflation. Get your market update from @IlyaSpivak here: https://t.co/4lHhHsby56 $XAUUSD https://t.co/JmZxckVHdS
  • Cable (GBP/USD) remains just off its seven-month high print around 1.3165 as traders start to move to the side lines ahead of next Thursday’s General Election vote. Get your $GBPUSD market update from @nickcawley1 here: https://t.co/CpCh13J9ZH #Brexit https://t.co/PIh6WUqbsK
  • (Weekly Technical Outlook) GBP/USD, EUR/GBP, GBP/JPY, GBP/CAD Outlook as UK Election Looms $GBPUSD $EURGBP $GBPJPY #UKelection2019 - https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/12/07/GBPUSD-EURGBP-GBPJPY-GBPCAD-Outlook-as-UK-Election-Looms.html?CHID=9&QPID=917702 https://t.co/iuILHYczJ7
  • Why do you require consistency in trading and why does it matter? Find out: https://t.co/WlEFlluGfZ #tradingstyle https://t.co/TkMtJQKatx
Currency Crosses: Technical Outlook 03-31

Currency Crosses: Technical Outlook 03-31

2010-03-31 21:55:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

 crossestable

eurogbp0331
It looks as though wave E of a triangle that has been underway since December 2008 (last day of that month) is underway.  EURGBP weakness should extend to former resistance (which is now likely support) at 8850 or 8750 before finding a low.      
 
eurcad0331
For the first time in months, it may be time to attempt longs with the EURCAD (and EURO / commodity crosses in general).  An inverse head and shoulders pattern is visible over the past 7 or so trading days.  A rally above 13850 would confirm the pattern and focus would then shift to 14100.
 
euraud0331
One should not ignore the warning signs of a pending reversal.  Those signs include oversold and divergent daily RSI and what may be a completed diagonal from 15331.  Weekly RSI is at its lowest level since 1997 (see vertical line) and today’s candle is a bullish engulfing pattern.    
 
eurnzd0331
Divergence with RSI on the weekly warns of a reversal as does price pressing against its channel resistance line.  Similar to the EURCAD, there is a potential inverse head and shoulders that is visible on 60 and 240 minute charts.  
 
eurjpy0331
The EURJPY has surged higher but bulls may experience headwinds as the pair approaches 12700/50.  This zone has served as support on numerous occasions (and may now be resistance).  Intraday studies are overbought and divergent, which warns of at least a pullback.  12550 is initial support with a deeper setback finding 12500 and then 12415.  (There is the chance of an outright reversal with 2 equal legs up from 11963).
 
British Pound / Japanese Yen
gbpjpy0331
The GBPJPY decline from 16315 could be complete as a complex correction.  A rally above trendline resistance would make this count more probable.  Near term studies are extremely overbought and divergent, so at least a setback is expected.  14060 is initial support followed by 13950.  
 
 
Canadian Dollar / Japanese Yen
cadjpy0331
The CADJPY is at its highest level since October 2008 and the next level of resistance is not until the March 2008 low at 9566.  Near term support is at 9110.  Price should stay above 8970.   
 
Australian Dollar / Japanese Yen
audjpy0331
The AUDJPY has continued higher and is just below its January high of 8625.  A breakout looks imminent but not before a setback near term.  Near term support is 8470 and price should remain above 8323.
 
New Zealand Dollar / Japanese Yen
nzdjpy0331
The NZDJPY may be tracing out a large triangle from the October 2009 high.  6700/50 is potential resistance.  Near term support is at 6490.  I do not see any opportunities here at this point.  It is best to let the triangle play out before taking action.  
 
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum.  He is the author of Sentiment in the Forex Market.  Follow his intraday market commentary and trades at DailyFX Forex Stream.   Send requests to receive his reports via email to jsaettele@dailyfx.com.

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

DISCLOSURES

News & Analysis at your fingertips.