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
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
Wall Street
Bearish
Gold
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
GBP/USD
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
USD/JPY
Mixed
More View more
Real Time News
  • The US Dollar appears to be back on the offensive against ASEAN FX such as the Singapore Dollar and Malaysian Ringgit. The Philippine Peso gained. What does USD face from here? Find out from @ddubrovskyFX here: https://t.co/U8VGdJPIST https://t.co/67Qq4n8Tet
  • LIVE NOW: In this session, Currency Analyst @ddubrovskyFX discusses traders' positioning as a key element of market analysis to determine the prevailing and future price trends. https://www.dailyfx.com/webinars/998956395
  • Heads Up! Will be starting soon. I will be resuming last week's discussion on equities to see what positioning can say about the prevailing trends, signup below https://t.co/5WGeehCLdh
  • 🇯🇵 JPY Trade Balance - BOP Basis (Yen) (FEB), Actual: ¥1366.6b Expected: ¥1215.0b Previous: -¥985.1b https://www.dailyfx.com/economic-calendar#2020-04-07
  • 🇯🇵 JPY Machine Orders (YoY) (FEB), Actual: -2.4% Expected: -3.0% Previous: -0.3% https://www.dailyfx.com/economic-calendar#2020-04-07
  • 🇯🇵 JPY Machine Orders (YoY) (FEB), Actual: 5% Expected: -3.0% Previous: -0.3% https://www.dailyfx.com/economic-calendar#2020-04-07
  • Australia outlook cut from stable to negative by S&P - BBG #AUD
  • #RBNZ Assistant Governor Christian Hawkesby: - The central bank is "very open" to changing the size of its QE program - There is a limit to how much of the bond market the RBNZ can purchase - Monetary authorities open to increasing QE in a "rapidly evolving situation" - BBG #NZD
  • Heads Up:🇯🇵 JPY Machine Orders (YoY) (FEB) due at 23:50 GMT (15min), Actual: N/A Expected: -3.0% Previous: -0.3% https://www.dailyfx.com/economic-calendar#2020-04-07
  • Heads Up:🇯🇵 JPY Trade Balance - BOP Basis (Yen) (FEB) due at 23:50 GMT (15min), Actual: N/A Expected: ¥1213.6b Previous: -¥985.1b https://www.dailyfx.com/economic-calendar#2020-04-07
Risk (Stocks and Commodity FX) and Reversal Characteristics

Risk (Stocks and Commodity FX) and Reversal Characteristics

2012-01-24 14:17:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

FXCM Expo Videos (Innovative Tech. explains Key Reversals and RSI Signals)

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.)

December Key Reversals-none

December RSI Signals-CADCHF GBPCHF NZDCHF USDCHF (all bearish)

Key Reversals Last Week-CADCHF (bearish) EURCAD (bullish) EURJPY (bullish)

RSI Signals Last Week-AUDJPY CADJPY NZDJPY NZDUSD SGDJPY (all bearish)

Daily Key Reversals (RV) and RSI Signals (RS)

Risk_and_Reversal_Characteristics__body_012412table.jpg, Risk (Stocks and Commodity FX) and Reversal Characteristics

Morning Comments:

S&P – Yesterday’s dojis in the Dow and S&P (indexes) are consistent with a top. Evidence that favors a downturn from here includes (but is not limited to) the lowest NYSE short interest in 3 years, extreme put/call ratio, and divergence between the S&P and Nasdaq (futures – see below). The writing is on the wall. ES levels to watch are 1297.50, 1280, and 1266.

Risk_and_Reversal_Characteristics__body_nqes.png, Risk (Stocks and Commodity FX) and Reversal Characteristics

Prepared by Jamie Saettele, CMT

USDOLLAR (Ticker: USDOLLAR): Is back above 9904, which once again gives scope to a bullish outcome. The choppiness of late has been frustrating but this is the market’s way of clearing the forest so that the stampede can take place. 9930/45 is resistance and 9880/95 is support.

Risk_and_Reversal_Characteristics__body_usdollar.png, Risk (Stocks and Commodity FX) and Reversal Characteristics

Prepared by Jamie Saettele, CMT

EURUSD – “Despite the break above channel resistance, a potentially completed 5 wave rally from the 1/13 low keeps me from turning bullish here. The implications are for a correction back towards at least 12875. 12950/85 is interim support.” 12990 is resistance.

Risk_and_Reversal_Characteristics__body_eurusd.png, Risk (Stocks and Commodity FX) and Reversal Characteristics

Prepared by Jamie Saettele, CMT

GBPUSD – Like the EURUSD, the structure of the rally from the 1/13 low is constructive (5 waves). The implications are for near term weakness before additional gains. For now, 15450-15500 is estimated support.

AUDUSD – The drop below 10458 triggers a bearish bias towards 10385 (former resistance). The next level of support would be the 20 day average/trendline support at 10320/40. I favor shorting into 10450/80 resistance with a stop at 10550.

Risk_and_Reversal_Characteristics__body_audusd.png, Risk (Stocks and Commodity FX) and Reversal Characteristics

Prepared by Jamie Saettele, CMT

NZDUSD –The next cluster of resistance isn’t until 8240/80 (October high / 161.8% extension of the rally from the November low / 61.8% retracement of the decline from the 2011 high) but the rally has stalled after tagging the 2nd standard deviation band yesterday. A drop under 8045 would trigger a bearish bias.

USDJPY – Has broken through the recent range (7650-7750), giving scope to an extension to the November high of 7828. Buy dips at support below 7760 with a stop under 7686.

USDCAD – 10161 serves as the trend defining level. Downside levels of interest include a channel at 9975, the 200 day average at 9936, and the October low at 9892.

USDCHF – An impulse (5 waves) from 9574 may be complete. The implications are for a return to 9380. 9305/30 is interim resistance.

--- 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.