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
GBP/USD
Mixed
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
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
Oil - US Crude
Bearish
Bitcoin
Mixed
More View more
Real Time News
  • Coming up at half past the hour: my weekly free webinar on trading sentiment. Do join me if you can. You can sign up here: https://www.dailyfx.com/webinars/181540619?CHID=9&QPID=917711
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.24% US 500: 0.21% France 40: 0.17% Germany 30: -0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/rF1IZGBHv8
  • LIVE IN 30 MIN: Analyst and Editor @MartinSEssex discusses the most important events and themes that have driven market sentiment and will drive it in the days ahead here - https://www.dailyfx.com/webinars/181540619?CHID=9&QPID=917720
  • More OPEC jawboning in light of 18% drop since Jan 7th peak https://t.co/7MFXsf9slz
  • USD/CAD Faces A Risk of Reversal at This Price - USD vs Canadian Dollar Forecast More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/usd-cad/2020/01/28/USDCAD-Faces-A-Risk-of-Reversal-at-This-Price-USD-vs-Canadian-Dollar-Forecast-MK.html?CHID=9&QPID=917714 https://t.co/PNkO9VWYyp
  • OPEC could deepen oil production cuts if oil prices and demand drop on spread of Coronavirus, adds that OPEC are discussing extending production cuts until at least June -according to OPEC sources #OOTT
  • Hey, traders 👋 do you want live AMAS with our analysts, market updates and tools to improve your trading strategy? Join us now on Instagram! 👉 https://t.co/pHGzVMqsC4 https://t.co/rjsOK2dHNF
  • LIVE NOW! Strategist @PaulRobinsonFX keeps you updated with the latest movements and trends during the London session for the FX and CFDs Market here - https://www.dailyfx.com/webinars/243785867?CHID=9&QPID=917720
  • Join @MartinSEssex 's #webinar at 6:30 AM ET/11:30 AM GMT to learn more about trading #sentiment Register here: https://t.co/XUUPRdY06p https://t.co/7ctEyTkZUU
  • LIVE IN 30 MIN: Strategist @PaulRobinsonFX keeps you updated with the latest movements and trends during the London session for the FX and CFDs Market here - https://www.dailyfx.com/webinars/243785867?CHID=9&QPID=917720
AUDUSD and NZDUSD Key Reversals Paint Bullish Picture

AUDUSD and NZDUSD Key Reversals Paint Bullish Picture

2012-03-16 13:16:00
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 – From last night; “Despite the turn higher, EURUSD structure is bearish under 13190 (perhaps in the guise of an ending diagonal from 13290).” The sharp turn higher this morning (following CPI) has resulted in a break of trendline resistance. Look higher towards 13190 (former pivot) and 13250 (Fibonacci confluence).

AUDUSD_and_NZDUSD_Key_Reversals_Paint_Bullish_Picture_body_eurusd.png, AUDUSD and NZDUSD Key Reversals Paint Bullish Picture

Prepared by Jamie Saettele, CMT

AUDUSD – From last night; “If the presented count is correct however, then this is one the best buying opportunities of the year. KEEP RISK TO 10420 as failure of the bullish structure would probably trigger sharp losses.” Pattern from yesterday’s low may compose waves 1 and 2 of the larger degree 5th wave. This is an aggressive count but reward/risk is highly favorable for bulls against 10505.

AUDUSD_and_NZDUSD_Key_Reversals_Paint_Bullish_Picture_body_audusd.png, AUDUSD and NZDUSD Key Reversals Paint Bullish Picture

Prepared by Jamie Saettele, CMT

NZDUSD – Pattern from yesterday’s low may compose waves 1 and 2 of the larger degree 5th wave. This is an aggressive count but reward/risk is highly favorable for bulls against 8175.

AUDUSD_and_NZDUSD_Key_Reversals_Paint_Bullish_Picture_body_nzdusd.png, AUDUSD and NZDUSD Key Reversals Paint Bullish Picture

Prepared by Jamie Saettele, CMT

USDJPYFocus for the month remains 8550, which is defined by the 2011 high and confluence of Fibonacci extensions (100% extension of 7602-8162 / 8001 and 261.8% extension of 8001-8187 / 8058). The best strategy is to continue moving up the stop, which should now be under this week’s low at 8195 (for medium term players). I am long on a shorter term basis with a stop under last night’s low but weakness below 9325 would shift focus to 8280/95. Watch the top of the former base channel (in green) for support as well.

AUDUSD_and_NZDUSD_Key_Reversals_Paint_Bullish_Picture_body_usdjpy.png, AUDUSD and NZDUSD Key Reversals Paint Bullish Picture

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.