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
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
Wall Street
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Trump: Can do phase 4 stimulus bill "later", sees understanding with Democrats on loan program funding. Calling on Congress to pass loan program funding this week -BBG
  • US President Donald Trump: Could reopen country in phases, may be ahead of schedule. Have to be on downside of slope to reopen the economy -BBG
  • USD/CAD Trading Forecast - via @DailyFX: Canadian Dollar Eyes Jobs Data, Oil & OPEC+ Link to Analysis: https://www.dailyfx.com/forex/technical/home/analysis/usd-cad/2020/04/08/usdcad-forecast-canadian-dollar-eyes-jobs-data-oil-opec.html $USDCAD $CL_F #WTI #OOTT #Forex #FX https://t.co/mSrFIcdSs9
  • Fed's Kaplan: -Sees US unemployment rate rising above 10% to 'mid teens' but fall between 7-8% by year end -US GDP may plunge 25-35% in 2Q, shrink 4-5% on balance this year
  • RT @LiveSquawk: Fed's Kaplan: US GDP May Shrink 25% To 35% In Second Quarter, Then Grow In Second Half - RTRS - Sees US GDP Shrinking 4% T…
  • For Thursday's trading session we have: the RBA Financial Stability Review; UK GDP; Canadian employment; US consumer confidence (UMich for April) and the OPEC+ meeting. High profile event risk overriding liquidity fade into Good Friday?
  • $EURUSD Daily Pivot Points: S3: 1.0647 S2: 1.0762 S1: 1.0827 R1: 1.0941 R2: 1.0991 R3: 1.1106 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • #Gold prices rallied by more than 7.7% from the April 1st low into yesterday’s. high. Get your $XAUUSD technical analysis from @JStanleyFX here: https://t.co/M9QeP4a5QH https://t.co/xc847ElRxe
  • RT @hmeisler: RUT green 3 straight. Hasn't gone 4 since early Feb.
  • $USDJPY Daily Pivot Points: S3: 107.91 S2: 108.39 S1: 108.58 R1: 109.05 R2: 109.34 R3: 109.81 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
USDOLLAR at Fibonacci Support

USDOLLAR at Fibonacci Support

2012-01-10 14:31:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

FXCM Expo Videos (educational)

Innovative Techniques with Traditional Technical Indicators

Trading with the Elliott Wave Principle

Seeing the Forest from the Trees: An Analysis of Global Markets

Afternoon Technicals (all charts)

Other TA (crosses, COT, etc.)

Morning Comments:

S&P future – Futures are at their highest since August 1st and approaching the 1300 figure. There is also trendline resistance from the May and July highs at 1307 today. Support for today’s US session is 1286.25-1282.75. A drop under 1274.50 would warn of a reversal.

USDOLLAR (Ticker: USDOLLAR): Is testing the 50% retracement of the 9856-10039 rally at 9948. I’m on the lookout for formation of a low from the current level down to 9923 (former pivot and 61.8% retracement).

USDOLLAR_Support_body_usdollar.png, USDOLLAR at Fibonacci Support

Prepared by Jamie Saettele, CMT

EURUSD – Is testing resistance from Friday’s high at 12812. 12840/50 is measured resistance and former congestion and potential resistance if reached. It is worth noting that the EURUSD nearly made a key reversal yesterday (volatility condition (day’s range >= 20 day ATR) was not met) but the EURGBP and EURJPY did make key reversals yesterday. Structurally, I am looking for one more low into the August 2010 low at 12590 before a violent reversal.

GBPUSD – 5 waves down from 15670 give scope to an eventual break below 15360 and probably a test of the October low at 15271. Additional strength would face resistance at 15525.

AUDUSD – Reversed before the 20 day average yesterday but a bearish outcome is possible below 10385 (shorts favored below there). Exceeding that level would shift focus to the 11/3 high at 10446 and a confluence of channel resistance and trendline resistance near 10500. 10275 is support today.

USDOLLAR_Support_body_audusd.png, USDOLLAR at Fibonacci Support

NZDUSD – Has exceeded the 1/3 high and focus is now on the 100% extension of the rally from 7370 at 7969 and the 11/7 high at 7997. Supports are 7915 and 7890.

USDJPY – The rally from 7660 and decline from 7733 probably compose wave a and b of an a-b-c corrective rally. The implications are for a rally into 7750 (100% extension of rally from 7660) before the larger downtrend resumes.

USDCAD – After reversing yesterday from the trendline that extends off of November and December highs, the USDCAD has plummeted into former support from 10170. Resistance is now 10210 and 10245.

USDOLLAR_Support_body_usdcad.png, USDOLLAR at Fibonacci Support

USDCHF – Carved out a key reversal yesterday at its highest level since February 2011. Structurally, the USDCHF may see one more high to complete a diagonal from 9243 but yesterday’s action is the first ‘reversal action’ since 12/15.

--- 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.