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)
Morning Notes:
DAX – With focus back on Europe, keep an eye on the German DAX. Expect resistance at 6763 (and watch short term Elliott channel resistance).
Prepared by Jamie Saettele, CMT
EURUSD – Rallies since the March low have unfolded in a corrective manner (3 waves). The suggestion is that the larger trend is down. Focus remains on 12900 and price ideally stays under 13212 although 13379 is the key trend defining level.
Prepared by Jamie Saettele, CMT
AUDUSD – No change - “From a risk standpoint, 10464 is the bearish line in the sand for me. Exceeding that level would shift focus to former supports at 10509 and 10597.” Last week’s advance failed just before 10464 and at the underside of former trendline support and channel resistance. 10145-10386 is the opening range for the year (first 2 weeks) and a break of the early year range would open up the floodgates towards 9860 and 9660.
Prepared by Jamie Saettele, CMT
NZDUSD – The combination of price pattern since the late February top and key reversal on Friday warrants a bearish stance against 8320. Resistance from December and the 100% extension of the 8471-8061 decline at 7878-7908 define the target area.
Prepared by Jamie Saettele, CMT
USDJPY - The March low gave way yesterday and focus is on the 50% retracement of the advance from 7602 at 8009 and the October 2011 intervention high at 7953. 8060/80 is now resistance (reached this morning).
To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter @JamieSaettele
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Jamie is the author of Sentiment in the Forex Market.
