News & Analysis at your fingertips.

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
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Notice

BoE Chief Econimist (Hawk) is to Step Down From BoE After June Meeting

Real Time News
  • (Market Alert) Singapore Dollar Gains on MAS, GDP Beat. Will USD/SGD Breach Key Support? $USDSGD #SGD #MAS #Singapore #GDP https://www.dailyfx.com/forex/market_alert/2021/04/14/Singapore-Dollar-Gains-on-MAS-GDP-Beat-Will-USDSGD-Breach-Key-Support.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/2GuNEq99qr
  • The Swiss Franc has positioned itself against key levels versus the Australian Dollar, New Zealand Dollar and Euro over the past week. Where next for AUD/CHF, NZD/CHF and EUR/CHF? Find out from @FxWestwater here:https://t.co/CrtQGzNxLW https://t.co/aPrncDYD5r
  • Heads Up:🇦🇺 Westpac Consumer Confidence Index (APR) due at 00:30 GMT (15min) Previous: 111.8 https://www.dailyfx.com/economic-calendar#2021-04-14
  • 🇸🇬 GDP Growth Rate QoQ Adv (Q1) Actual: 2.0% Previous: 3.8% https://www.dailyfx.com/economic-calendar#2021-04-14
  • $USDSGD sinking to its lowest since April 7th/9th after #Singapore 1Q GDP surprised higher #MAS also left policy largely unchanged The passing of key event risk likely opened the door for #SGD to advance following #USD weakness on Wall Street (full alert to follow!) https://t.co/BofEUnFgYD
  • 🇸🇬 GDP Growth Rate YoY Adv (Q1) Actual: 0.2% Expected: -0.2% Previous: -2.4% https://www.dailyfx.com/economic-calendar#2021-04-14
  • 🇯🇵 Machinery Orders YoY (FEB) Actual: -7.1% Expected: 2.3% Previous: 1.5% https://www.dailyfx.com/economic-calendar#2021-04-13
  • Heads Up:🇸🇬 Monetary Policy Statement due at 00:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-04-14
  • Heads Up:🇸🇬 GDP Growth Rate QoQ Adv (Q1) due at 00:00 GMT (15min) Previous: 3.8% https://www.dailyfx.com/economic-calendar#2021-04-14
  • Heads Up:🇸🇬 GDP Growth Rate YoY Adv (Q1) due at 00:00 GMT (15min) Expected: -0.2% Previous: -2.4% https://www.dailyfx.com/economic-calendar#2021-04-14
Euro Base Forms for Next Bull Leg

Euro Base Forms for Next Bull Leg

Jamie Saettele, CMT, Sr. Technical Strategist

FXCM Expo Videos

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 Notes:

In general, expect more 2 way action during the US session as is typical following a sharp gap down.

US Indices – Have completely retraced Friday’s decline. Friday’s lows can be used as a pivot for the larger trend (bullish above and bearish below). Supports for the S&P e-mini today are 1345.50 and 1342.75. Watch the July high at 1356.48 in the futures for tiring in the overall trend.

USDOLLAR (Ticker: USDOLLAR): Near term structure lacks clarity at this point (several valid interpretations) but the contracting nature of price action from the 2011 low may be a large triangle. With this in mind, the USDOLLAR could still test slightly lower levels (November low) before turning higher for several months.

Euro_Base_Forms_for_Next_Bull_Leg__body_usdollar.png, Euro Base Forms for Next Bull Leg

Prepared by Jamie Saettele, CMT

EURUSD – Friday’s decline is viewed as a correction within the larger advance from the January low. Objectives remain the mid 13400s. The 50% retracement of the decline from the October high comes in at 13435 and bullish channel resistance is just above that level. Favor the upside against Friday’s low.

Euro_Base_Forms_for_Next_Bull_Leg__body_eurusd.png, Euro Base Forms for Next Bull Leg

Prepared by Jamie Saettele, CMT

AUDUSD – Suspicions that the AUDUSD decline would prove corrective have been confirmed as the decline from the top is in 3 waves. Expectations are for additional strength towards 10900 and perhaps a test of the record free floating high at 11080. 10720 is short term support and longs area favored against Friday’s low.

NZDUSD – The decline reversed right at Elliott channel support on Friday. Expectations are for strength to extend above last week’s high and perhaps towards the September high just above 8500. 8320 is support.

Euro_Base_Forms_for_Next_Bull_Leg__body_nzdusd.png, Euro Base Forms for Next Bull Leg

Prepared by Jamie Saettele, CMT

USDJPY – The advance is unfolding in an impulsive manner. Use hiccups to add to longs. Support is 7740 and risk on longs should be kept to 7670. Of note is the 200 day average just above current price at 7808 and the December/January highs at 7830.

--- 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