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)
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
Prepared by Jamie Saettele, CMT
EURUSD – Weekly Bars
Prepared by Jamie Saettele, CMT
EURUSD – Daily Bars
Prepared by Jamie Saettele, CMT
Australian Dollar Futures (CME) – 240 Minute Bars
Prepared by Jamie Saettele, CMT
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.
