FXCM Expo Videos
Risk is ‘off’ and we are positioned with the AUDUSD shorts from 10240. AUD losses are outpacing EUR losses, which should happen in a true risk off environment. In fact, the EURAUD is going to carve out a bullish key reversal today. There will be bounces along the way and I’ll do my best to identify the short term ‘washouts’ that lead to decent sized bounces, defining a ‘decent sized bounce’ as 25% of the 20 day range (which is 91 pips right now). 10100, defined by the 100% extension of the decline from the top and corrective channel support, may provide support for a bounce into 10150 but the post AUD data recovery high at 10200 should be safe. 9965 is the next downside level of interest and one that may produce a washout and aforementioned bounce.
Over the next few days, watch 10 or 15 minute RSI. Expect resistance as the indicator reaches 60-70.
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)
“THE MARKET(S)” a.k.a. “RISK” SNAPSHOT - 60 Minute Closes
Prepared by Jamie Saettele, CMT
AUDUSD – 240 Minute Bars
Prepared by Jamie Saettele, CMT
AUDUSD – 15 Minute Bars
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.
Meet the DailyFX team in Las Vegas at the annual FXCM Traders Expo, November 2-4, 2012 at the Rio All Suite Hotel & Casino. For additional information regarding the schedule, workshops and accommodations, visit the FXCM Trading Expo website.
