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USDOLLAR Tags Important Moving Average Before Bernanke

USDOLLAR Tags Important Moving Average Before Bernanke

2012-07-17 12:53:00
Jamie Saettele, CMT, Sr. Technical Strategist
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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.)

Quickly before US equities open…

The USDOLLAR has reversed Asian session losses. The 60 day (3 month) average has been support in the USDOLLAR for a month now. The EURUSD, in particular, is vulnerable after testing the bottom of its former base channel. 12245 is interim support.

There is divergence on a closing basis (240 minute) between AUDUSD and NZDUSD that has characterized tops in recent months.

In index markets, the S&P e-mini is nearing the 7/10 high at 1356.50. The level is reinforced by the 7/5 low at 1357 and I’m expecting a reaction. 1343 and 1336.75 become supports.

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

USDOLLAR_Tags_Important_Moving_Average_Before_Bernanke_body_all.png, USDOLLAR Tags Important Moving Average Before Bernanke

Prepared by Jamie Saettele, CMT

USDOLLAR – 240 Minute Bars

USDOLLAR_Tags_Important_Moving_Average_Before_Bernanke_body_usdollar.png, USDOLLAR Tags Important Moving Average Before Bernanke

Prepared by Jamie Saettele, CMT

EURUSD – 240 Minute Bars

USDOLLAR_Tags_Important_Moving_Average_Before_Bernanke_body_eurusd.png, USDOLLAR Tags Important Moving Average Before Bernanke

Prepared by Jamie Saettele, CMT

AUDUSD and NZDUSD – 240 Minute Closes

USDOLLAR_Tags_Important_Moving_Average_Before_Bernanke_body_audusd.png, USDOLLAR Tags Important Moving Average Before Bernanke

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.

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