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  • USD/JPY attempts to retrace the decline following the semi-annual testimony with Fed Chairman Jerome Powell amid a rebound in longer-dated US Treasury yields. Get your market update from @DavidJSong here:https://t.co/Uos1L1Z4wG https://t.co/pZhubVlhjs
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.02% Gold: -0.15% Silver: -0.83% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/4gIoNck16b
  • The US Dollar is broadly stronger on the session with the latest flash PMI report from @IHSMarkit underscoring inflation pressures ahead of next week's Fed announcement. $DXY facing psychological resistance at the 93.00-handle, though. Link to Analysis - https://www.dailyfx.com/forex/market_alert/2021/07/23/us-dollar-firms-as-pmi-data-echoes-inflation-risk-cue-the-fed.html https://t.co/SzMzzxoYzN
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.04% 🇪🇺EUR: -0.05% 🇬🇧GBP: -0.10% 🇨🇭CHF: -0.18% 🇦🇺AUD: -0.18% 🇯🇵JPY: -0.31% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/RykiRciAsZ
  • ECB's Weidmann: - New ECB goal does not mean there will be markedly higher inflation
  • ECB's Weidmann: - I expect inflation rates in Germany to rise to 5% by the end of 2021 - Governing council believes that expansive monetary policy is acceptable at the moment
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: US 500: 0.74% Wall Street: 0.51% Germany 30: -0.03% France 40: -0.08% FTSE 100: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/iXJHlexTlA
  • USD/MXN trades directionless, oscillating between small gains and losses, near the 20.15 area. Get your $USDMXN market update from @DColmanFX here:https://t.co/FFr3rlGh6n https://t.co/7tniccl9S8
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.02% 🇪🇺EUR: -0.06% 🇬🇧GBP: -0.12% 🇨🇦CAD: -0.22% 🇦🇺AUD: -0.23% 🇯🇵JPY: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/LZfExkLfjB
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: France 40: 1.31% Germany 30: 0.97% FTSE 100: 0.82% US 500: 0.57% Wall Street: 0.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/gUKOWwsere
Be Bearish Euro and Australian Dollars on Bounces for Next Week

Be Bearish Euro and Australian Dollars on Bounces for Next Week

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.)

Trades are structured with consideration to current wave structure in risk. For the next few days, I’m likely to be bearish on rallies. The following charts outline risk management levels (red is resistance, blue is support, black in interim levels to consider). I favor shorts on rallies in the AUDUSD and AUDJPY into resistance.

Want to learn more about this stuff? Come to next week’s Bootcamp.

“THE MARKET(S)” a.k.a. “RISK” SNAPSHOT - 60 Minute Closes

Be_Bearish_Euro_and_Australian_Dollars_on_Bounces_for_Next_Week_body_all.png, Be Bearish Euro and Australian Dollars on Bounces for Next Week

Prepared by Jamie Saettele, CMT

SPX 500 – 60 Minute Bars

Be_Bearish_Euro_and_Australian_Dollars_on_Bounces_for_Next_Week_body_spx.png, Be Bearish Euro and Australian Dollars on Bounces for Next Week

Prepared by Jamie Saettele, CMT

EURUSD – 60 Minute Bars

Be_Bearish_Euro_and_Australian_Dollars_on_Bounces_for_Next_Week_body_eurusd.png, Be Bearish Euro and Australian Dollars on Bounces for Next Week

Prepared by Jamie Saettele, CMT

EURJPY – 60 Minute Bars

Be_Bearish_Euro_and_Australian_Dollars_on_Bounces_for_Next_Week_body_eurjpy.png, Be Bearish Euro and Australian Dollars on Bounces for Next Week

Prepared by Jamie Saettele, CMT

AUDUSD – 60 Minute Bars

Be_Bearish_Euro_and_Australian_Dollars_on_Bounces_for_Next_Week_body_audusd.png, Be Bearish Euro and Australian Dollars on Bounces for Next Week

Prepared by Jamie Saettele, CMT

AUDJPY – 60 Minute Bars

Be_Bearish_Euro_and_Australian_Dollars_on_Bounces_for_Next_Week_body_audjpy.png, Be Bearish Euro and Australian Dollars on Bounces for Next Week

Prepared by Jamie Saettele, CMT

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.

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