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. See our updated Privacy Policy here.

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
GBP/USD
Mixed
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
More View more
Real Time News
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/eReyYRYOn1
  • Last week’s march higher in EUR/USD may well extend further after Friday’s Eurozone economic statistics that will likely turn the ECB more hawkish on monetary policy. Get your weekly Euro forecast from @MartinSEssex here: https://t.co/EWrJy5LfOF https://t.co/NQj5xCdw9b
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHHGbZ https://t.co/uDeIMr1Ks4
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/srqRhfdKUd
  • Cable is pulling off after a strong run; near-term weakness may be the theme before trying to rally again. Get your weekly GBP technical forecast from @PaulRobinsonFX here: https://t.co/030gXzxlEc https://t.co/ux7W6OcBOm
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sZLTs https://t.co/FPKAoLQuuI
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9Flsqcxo9 https://t.co/2L5DGk7cxl
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/zRBB1hmhJm
  • USD/CAD has bounced off a key support area on Friday and could potentially charge higher in the coming week as risk-aversion over coronavirus fears has started to dominate market moves. Get your weekly CAD technical forecast from @DColmanFX here: https://t.co/bySyBXTAdr https://t.co/y6UqD0quGN
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/sPcCTQfaRd
AUDUSD Rips into Bottom of Resistance Zone

AUDUSD Rips into Bottom of Resistance Zone

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.)

I was on point Monday with the analysis but went against it yesterday by going short the AUDUSD ahead of GDP. The loss wasn’t what bothered me as much as the exiting of a well thought out NZDJPY long at 5960 (we got to 6060 just now)! Such experiences highlight the major difference between analysis and trading. The latter is a far more psychological exercise. It’s worth reviewing Monday’s note because we are nearing levels that are probable resistance.

“Volume spikes (on futures) and daily key reversals (CHFJPY, EURJPY, EURUSD, NZDUSD and USDCHF) suggest that a larger corrective move is probably underway. The implications are for USD and JPY weakness, strength in stocks and commodities, and weakness in US Treasuries. As written Friday, keep it simple; identify key levels and know what you’ll do when those levels are reached.

The AUDUSD and NZDUSD in particular are at levels of interest…the Yen / US yield story that we’ve followed for months is playing out beautifully but does face short term resistance here…the S&P (futures) are up 1% this morning and nearly 40 handles off of the low.

AUDUSD 240 Minute Bars

AUDUSD_Rips_into_Bottom_of_Resistance_Zone__body_audusd.png, AUDUSD Rips into Bottom of Resistance Zone

Prepared by Jamie Saettele, CMT

The AUDUSD has reached resistance from former support (5/16 low) and short term channel resistance. Additional resistance comes in at the 5/22 high and 100% extension of the low at 9934. 9800/25 is support today.

New Zealand Dollar 240 Minute Bars

AUDUSD_Rips_into_Bottom_of_Resistance_Zone__body_nzdusd.png, AUDUSD Rips into Bottom of Resistance Zone

Prepared by Jamie Saettele, CMT

The NZDUSD has reached resistance from the 5/29 high and short term channel resistance. Additional resistance comes in at the 5/22 high and 100% extension of the low at 7668//76. 7590-7600 is support today.

SPX 500 240 Minute Bars

AUDUSD_Rips_into_Bottom_of_Resistance_Zone__body_spx.png, AUDUSD Rips into Bottom of Resistance Zone

Prepared by Jamie Saettele, CMT

The S&P has reached resistance from the 1300 area. The first wave of a larger 3 wave correction appears to be nearing completion. Support today is 1286-1290.

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