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.)

Today’s price action is confirming the wave iii of 5 interpretation in EURUSD. Focus is lower towards the June low of 12287 and the June 2010 low at 12150 (161.8% extension of decline from June high is at 12141 as well). To be sure, a relief rally may materialize from nearby levels, which is defined by a short term channel (downward sloping) and 100% extension of the decline from the June high (12350). 12420/50 is now resistance. Risk on shorts can be moved down to 12500 (from 12630).

On the pure risk front, a key reversal (see Innovative Techniques video above for more) on the 240 minute bar this morning and volume (CME) consistent with turns suggest that the AUDUSD may have put in its high.

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

EURUSD_Bearish_Objective_is_12150_____body_all.png, EURUSD Bearish Objective is 12150

Prepared by Jamie Saettele, CMT

EURUSD – Weekly Bars

EURUSD_Bearish_Objective_is_12150_____body_eurusd.png, EURUSD Bearish Objective is 12150

Prepared by Jamie Saettele, CMT

EURUSD – Daily Bars

EURUSD_Bearish_Objective_is_12150_____body_eurusd_1.png, EURUSD Bearish Objective is 12150

Prepared by Jamie Saettele, CMT

Australian Dollar Futures (CME) – 240 Minute Bars

EURUSD_Bearish_Objective_is_12150_____body_audusd.png, EURUSD Bearish Objective is 12150

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.