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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bullish
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
Wall Street
Bullish
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
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
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.02%, while traders in US 500 are at opposite extremes with 74.47%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/n5Xuy8XTuC
  • #Fed Beige Book: - Employment increased on net in nearly all districts - Payrolls remain well below pre-pandemic level in almost all districts $DXY
  • #Fed Beige Book: - Economic activity increased in nearly all districts, but down from pre-pandemic levels - Retail sales led by rebound in auto sales - Most districts report uptick in manufacturing activity - Construction remains subdued $DXY
  • RT @MarketsTicker: Fed's Beige Book says activity increased in almost all districts but remains well below pre-pandemic levels
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.69% Wall Street: 0.64% Germany 30: -0.22% FTSE 100: -0.22% France 40: -0.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/uVAPLeD1hH
  • New York #Fed Executive VP Logan says drop in balance sheet a signal of financial market health - BBG
  • The plunge in gold volatility has not seen an ensuing drop in gold prices – more evidence that our longstanding axiom on the gold volatility-gold price relationship holds true. Get your $XAUUSD market update from @CVecchioFX here: https://t.co/GeXl10ibPv https://t.co/xH8yBn8qAG
  • Heads Up:🇺🇸 Fed Beige Book due at 18:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-07-15
  • New York #Fed Executive VP Logan: - Uncertainty from COVID-19 makes future-shock protection prudent - BBG
  • Trump inclined towards holding off on sanctioning Chinese officials currently $USDCNH
Trading Opportunities in EUR/GBP and EUR/AUD

Trading Opportunities in EUR/GBP and EUR/AUD

2013-04-11 19:39:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Market structure argues that it is better to be long EUR than GBP and perhaps even EURGBP outright. Keep an eye on the EURAUD as well…conditions are specified that would trigger a trade.

Euro / British Pound

Daily Candles

Trading_Opportunities_in_EURGBP_and_EURAUD_body_eurgbp.png, Trading Opportunities in EUR/GBP and EUR/AUD

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: It’s all about 5s and 3s (5 waves = trend and 3 waves = countertrend). A long term bullish argument can be made from the current level as 1) the declines from .8814 and .9804 (see next 2 charts) are in 3 waves, 2) the rallies from .7751 and .6535 (see 2 charts down) display impulsive characteristics and 3) former 4th wave low areas are providing support across multiple degrees of trend. The rally has stalled below the 38.2% of the drop from .8814. Expect support down at .8485 if reached and. Focus for the rest of April is on the uncovered close / 61.8% retracement at .8649/60 although the 2/25 close and 50% retracement at .8612/14 will probably inspire a reaction.

FOREX Trading Strategy: Pending long at .8490, stop .8405, target half at .8650 (other half will be trailed as market action dictates). Watch the London open for entries in this cross.

Euro / British Pound

Weekly Bars

Trading_Opportunities_in_EURGBP_and_EURAUD_body_eurgbp_1.png, Trading Opportunities in EUR/GBP and EUR/AUD

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

Euro / British Pound

Monthly Bars

Trading_Opportunities_in_EURGBP_and_EURAUD_body_eurgbp_2.png, Trading Opportunities in EUR/GBP and EUR/AUD

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

Euro / Australian Dollar

Daily Bars

Trading_Opportunities_in_EURGBP_and_EURAUD_body_euraud.png, Trading Opportunities in EUR/GBP and EUR/AUD

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: The bigger picture EURAUD trend must be considered sideways at the moment but the outside week reversal (last week) from just above the November low and 61.8% retracement of the August 2012-February 2013 rally argues for at least several more weeks of gains. Near term pattern is constructive towards with 5 waves off of the low (see below chart) and today’s low forming at the former 4th wave low.

FOREX Trading Strategy: Want to be long now but not until either a push above 1.2565 with a stop at whatever the low for this week is (currently 1.2364) OR next week (we’ll have to see where price is on Sunday/Monday). Stops are always critical but even more so in this situation with the potential for a bullish AUDUSD breakout. The objective is 1.2700-1.2800.

Euro / Australian Dollar

60 Minute Bars

Trading_Opportunities_in_EURGBP_and_EURAUD_body_euraud_1.png, Trading Opportunities in EUR/GBP and EUR/AUD

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

--- 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.

DISCLOSURES

News & Analysis at your fingertips.