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.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Bullish
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
Gold
Bearish
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
USD/JPY
Bullish
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
  • (Asia AM) The #DowJones, #SP500 and #NASDAQ Composite may climb after my Wall Street index avoided a downside breakout. Donald Trump’s news conference on China cooled escalation woes - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/05/31/Dow-Jones-SP-500-Nasdaq-Composite-Ready-for-More-Highs.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/KDrzpy6PFb
  • Preview of my piece previewing Europe/US ⬇️ https://t.co/hVYqYLVQaq
  • US-China tensions remain, #ECB stands ready to expand QE purchases, EU-UK trade talks in focus. Get your #equities market update from @JMcQueenFX here: https://t.co/hKLNJKqMoz https://t.co/h45Cngonhw
  • #Gold has a short-term bullish set-up that may play nicely with USD weakening. The longer and shorter-term path of least resistance remains higher. Get your $XAUUSD technical analysis from @PaulRobinsonFX here:https://t.co/6gt3F9LuGP https://t.co/CR4z6lul34
  • AiG Manufacturing Index (May): 41.6 vs 35.8 prior. Factory sector shrank for a second consecutive month, but at a slower pace than April. #AUDUSD
  • US equity futures pointed lower along with cycle-sensitive AUD and NZD while anti-risk #JPY and #USD are edging higher. Possible catalysts are protests in American cities combined with tension between the US and China over Hong Kong.
  • Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am ET on DailyFX! https://t.co/lxd5fZnn4H
  • (Weekly Fundamental Outlook) The medium-term #gold outlook still seems favorable as the #Fed, ECB and more keep rates around 0. Immediate event risk ahead includes the RBA and BoC interest rate decisions, US jobs data and #Brexit talks #XAUUSD - https://www.dailyfx.com/forex/fundamental/forecast/weekly/chf/2020/05/30/Gold-Prices-Face-RBA-BoC-ECB-US-Jobs-Data-and-Brexit-Talks.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/m8sRNc4L5H
  • U.K. Eurozone Czech Poland Germany Italy France Spain Indonesia Hong Kong Singapore Japan Unemployment stats: US Eurozone
  • Hello there, traders! Heads up: we have got a data-packed week ahead of us. Here are the highlights: Central bank rate decisions: - BOC - ECB Markit PMI data out of: China US Vietnam Malaysia South Korea Philippines Thailand Taiwan India Turkey (continued⬇️)
Commodity FX Recovers but Shorts Still in Play-Euro Still Offered

Commodity FX Recovers but Shorts Still in Play-Euro Still Offered

2012-07-13 13:04:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

FXCM Expo Videos

Good morning. We’ve seen a bigger bounce than expected in the risk currencies (AUD and NZD) but I’m staying bearish against the recent pivot highs of 10281 and 8000. I acknowledge that the AUDUSD and NZDUSD have held their short term corrective channels but bigger picture evidence does not warrant a reversal of bias. The current situation highlights the importance that good entries play in risk management. Being short from 10240 enables us to minimize risk to 10280 at a time when we are uncertain if yesterday’s drop was the beginning of a larger decline or a blip in a larger uptrend. 10190/10200 is resistance.

Of note is key reversals yesterday in the AUDNZD (bearish), EURAUD and NZDUSD (both bearish).

There isn’t much reason to fade EURUSD weakness yet. EURUSD bottoms are usually the product of heightened emotions and in turn increased volatility. The current EURUSD environment does not fit that description. 12065 remains a level of interest. I would not initiate new shorts here however as the reward/risk profile is no longer favorable (it is above 12220, preferably close to 12250 with a stop above 12335).

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.)

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

Commodity_FX_Recovers_but_Shorts_Still_in_Play-Euro_Still_Offered_body_all.png, Commodity FX Recovers but Shorts Still in Play-Euro Still Offered

Prepared by Jamie Saettele, CMT

AUDUSD – 240 Minute Bars

Commodity_FX_Recovers_but_Shorts_Still_in_Play-Euro_Still_Offered_body_audusd.png, Commodity FX Recovers but Shorts Still in Play-Euro Still Offered

Prepared by Jamie Saettele, CMT

NZDUSD – 240 Minute Bars

Commodity_FX_Recovers_but_Shorts_Still_in_Play-Euro_Still_Offered_body_nzdusd.png, Commodity FX Recovers but Shorts Still in Play-Euro Still Offered

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.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.