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 Download
EUR/USD
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
Gold
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
Oil - US Crude
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
Bitcoin
Bearish
More View more
Real Time News
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Gold: 0.80% Silver: 0.17% Oil - US Crude: -4.55% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Sq3gjZwe2J
  • The Atlanta Fed GDPNow forecast for Q1 rises to 2.7%, previously 2.6% $SPX $DXY
  • US Dollar Price Analysis: USD Snaps Back, Will Buyers Bid Support? https://www.dailyfx.com/forex/fundamental/article/drivers_of_price_action/2020/02/27/US-Dollar-Price-Analysis-USD-Snaps-Back-Will-Buyers-Bid-Support-JS.html $USD https://t.co/f5eGGnH23P
  • Tune in to @PeterHanksFX 's #webinar at 11:00 AM ET/4:00 PM GMT to learn how to identify trends with trader #sentiment. Register here: https://t.co/MqVMi2INbJ https://t.co/ABeHjpwszw
  • 🇺🇸 USD Pending Home Sales (YoY) (JAN), Actual: 6.7% Expected: 2.1% Previous: 6.8% https://www.dailyfx.com/economic-calendar#2020-02-27
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.93%, while traders in USD/CAD are at opposite extremes with 67.08%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/hLfhItcNTG
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Gold: 0.95% Silver: 0.57% Oil - US Crude: -4.95% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/8tSEvwOXf7
  • Heads Up:🇺🇸 USD Pending Home Sales (YoY) (JAN) due at 15:00 GMT (15min), Actual: N/A Expected: N/A Previous: 6.8% https://www.dailyfx.com/economic-calendar#2020-02-27
  • $SPX gaps lower on the US session open, now over 10% off of highs https://t.co/njDc20ZY9x
  • $EURUSD: When sellers went on the attack in early-February, support could hold no longer, and bears punched through that zone as if it didn’t exist on the way down to fresh two-year-lows. Get your EUR/USD technical analysis from @JStanleyFX here: https://t.co/PCuM2tKVop https://t.co/WmImeDvH0A
Australian Dollar Crosses Showing the Way

Australian Dollar Crosses Showing the Way

2011-10-19 21:01:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Euro / Australian Dollar

300 MinuteBars

Crosses101911_body_euraud.png, Australian Dollar Crosses Showing the Way

Prepared by Jamie Saettele, CMT

I wrote Friday that “the 61.8% retracement, at 13407, is in the center of former congestion. Still, with no sign of support (yet), focus is on the 100% extension of the decline from 14087 at 13317 and the 9/19 pivot low at 13259.” Now, there are signs that a bottom is forming or even in place. The area surrounding the 61.8% retracement is holding as support and the decline from 14087 consists of 2 separate 3 wave declines (double zigzag correction). RSI divergence on the 300 minute chart supports bulls as does RSI holding above 40 on the daily (RSI range rules). My colleague Christopher Vecchio will publish a trading report on the EURAUD this evening.

Australian Dollar / Japanese Yen

300 Minute Bars

Crosses101911_body_audjpy.png, Australian Dollar Crosses Showing the Way

Prepared by Jamie Saettele, CMT

The AUDJPY poked through the trendline that extends off of the July, August, and September highs before failing just shy of former support at 8057. The steep former support line has acted as resistance this week and price is back under the longer term trendline from July thus warning that the pop above the line was a false break. Coming under 7762 would shift focus to 7680 and 7590.

Euro / Japanese Yen

300 Minute Bars

Crosses101911_body_eurjpy.png, Australian Dollar Crosses Showing the Way

Prepared by Jamie Saettele, CMT

The 5 wave EURJPY rally from the October low demands that we consider a longer term constructive view but the decline from 10769 and subsequent advance is best counted as waves a and b of a 3 wave (a-b-c) corrective decline. The implications are weakness into 10362 before a secondary low is formed. The line parallel to the potential neckline may also come into play at slightly lower levels.

British Pound / Japanese Yen

300 Minute Bars

Crosses101911_body_gbpjpy.png, Australian Dollar Crosses Showing the Way

Prepared by Jamie Saettele, CMT

Friday’s commentary was “respect the potential for a top to form soon as per divergence with RSI on intraday charts at the new high and daily RSI reaching its upper boundary for a bear market.” The GBPJPY made it to 12262 before finding a top and a head and shoulders top is visible over the last 6 days. The EURJPY c wave interpretation suggests that we look lower here as well towards 11921.

Canadian Dollar / Japanese Yen

DailyBars

Crosses101911_body_cadjpy.png, Australian Dollar Crosses Showing the Way

Prepared by Jamie Saettele, CMT

The CADJPY rally from 7215 viewed as corrective. Specifically, strength is viewed as wave 4 within the 5 wave decline from the April high. The Elliott channel wasn’t quite reached on Monday but price did reverse right at the base of the former 4th wave (circled). Look lower in a 5th wave towards 7215.

Euro / British Pound

Daily Bars

Crosses101911_body_eurgbp.png, Australian Dollar Crosses Showing the Way

Prepared by Jamie Saettele, CMT

After breaking through the trendline that extends off of the July and August highs, the EURGBP has failed to extend higher and the near term trend is best described as sideways between 8794 and 8680. Still, as long as “the year + support line holds (there were several false breaks), the longer term trend is viewed as constructive.

Euro / Canadian Dollar

DailyBars

Crosses101911_body_eurcad.png, Australian Dollar Crosses Showing the Way

Prepared by Jamie Saettele, CMT

The EURCAD rally from the September low is impulsive thus the longer term trend is viewed in a bullish light. Near term, the upside is favored against 13823 as the decline to there may have completed a correction (notice that the decline reversed right at the former 4th wave).

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

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

To be added to Jamie’s e-mail distribution list, send an e-mail with subject line "Distribution List" to jsaettele@dailyfx.com

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.

DISCLOSURES

News & Analysis at your fingertips.