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
GBP/USD
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
USD/JPY
Mixed
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • The Australian Dollar and New Zealand Dollar tend to rise with stocks. They have recently fallen despite gains in the #SP500. What does this mean for $AUDUSD and $NZDUSD ahead? #AUD #NZD #RBA #RBNZ - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/01/17/AUDUSD-NZDUSD-Outlook-Looks-Past-Stocks-to-Rate-Cut-Bets.html?CHID=9&QPID=917702 https://t.co/ddf2fV7Kyl
  • A few snippets from today's commentary. Check out the link below for the full story (via @DailyFX). https://t.co/I31tuq764r https://t.co/x0BaiOFA1P
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/e2YrN3dBrl
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.00%, while traders in France 40 are at opposite extremes with 79.59%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/UL7hqSD2Ki
  • US Dollar Forecast: $USD Lacking Impetus Ahead of Consumer Sentiment #Forex traders shift focus away from US-China trade deal headlines - perhaps toward the monthly release of #ConsumerSentiment data for volatility and clues on the Greenback's next move https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2020/01/16/us-dollar-forecast-usd-lacking-impetus-ahead-of-consumer-sentiment.html
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.11% 🇦🇺AUD: -0.02% 🇯🇵JPY: -0.03% 🇨🇭CHF: -0.05% 🇬🇧GBP: -0.06% 🇨🇦CAD: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Kxcb9EtIWb
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.45% France 40: 0.26% Wall Street: 0.07% US 500: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/I5YIsKQAog
  • 🇯🇵 JPY Tertiary Industry Index (MoM) (NOV), Actual: 1.3% Expected: 1.0% Previous: -5.2% https://www.dailyfx.com/economic-calendar#2020-01-17
  • The $JPY has weakened as a bounce-back in risk appetite saps haven-asset demand. However, the old uptrend line still provides clear resistance. Get your market update from @DavidCottleFX HERE:https://t.co/IMhgQ9jbF9 https://t.co/I7087olftk
  • Heads Up:🇯🇵 JPY Tertiary Industry Index (MoM) (NOV) due at 04:30 GMT (15min), Actual: N/A Expected: 1.0% Previous: -4.6% https://www.dailyfx.com/economic-calendar#2020-01-17
US Dollar on Offensive as Reversal Evidence is Confirmed

US Dollar on Offensive as Reversal Evidence is Confirmed

2012-03-05 15:01:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

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:

EURUSD – The extent of the decline from 13485 is enough to suggest that the 3 wave rally from the January low is complete and that the longer term bear trend has resumed. Rallies should be sold. Resistance is clustered between 13240 and 13280. Keep stops above 13360. 13100/15 is interim support.

US_Dollar_on_Offensive_as_Reversal_Evidence_is_Confirmed_body_eurusd.png, US Dollar on Offensive as Reversal Evidence is Confirmed

Prepared by Jamie Saettele, CMT

GBPUSD – Like the EURUSD, the GBPUSD rally to a new high (above end of wave A) satisfies minimum requirements for wave C. Near term, look lower in order for the decline to complete 5 waves from 15991.

US_Dollar_on_Offensive_as_Reversal_Evidence_is_Confirmed_body_gbpusd.png, US Dollar on Offensive as Reversal Evidence is Confirmed

Prepared by Jamie Saettele, CMT

AUDUSD – A short term objective is 10650 but the false bullish break last week is a classic trap that will most likely be resolved with a sharp decline and a run on stops under 10595. A break would target 10525 and 10450. 10725/60 is resistance.

US_Dollar_on_Offensive_as_Reversal_Evidence_is_Confirmed_body_audusd.png, US Dollar on Offensive as Reversal Evidence is Confirmed

Prepared by Jamie Saettele, CMT

NZDUSD – The high last week was registered right at the line that is used to estimate the right shoulder of a head and shoulders pattern (line parallel to neckline is extended from left shoulder). Of course, we don’t know if a multiyear head and shoulders is unfolding but this method is anticipatory. The drop below 8244 shifts focus to 8140 and 8080. 8270 is resistance.

US_Dollar_on_Offensive_as_Reversal_Evidence_is_Confirmed_body_nzdusd.png, US Dollar on Offensive as Reversal Evidence is Confirmed

Prepared by Jamie Saettele, CMT

USDJPY – As long as price is above 8080, look higher towards 8220 (May 2011 high) and 8550 (100% extension of February rally and April 2011 high). A drop below 8080 would delay the bullish outlook and probably lead to a deeper drop below 8000.

US_Dollar_on_Offensive_as_Reversal_Evidence_is_Confirmed_body_usdjpy.png, US Dollar on Offensive as Reversal Evidence is Confirmed

Prepared by Jamie Saettele, CMT

--- 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.