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End of Week Trade Setups in US Dollar Crosses

End of Week Trade Setups in US Dollar Crosses

2012-09-20 14:56:00
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.)

The deeper setbacks in the EURUSD and AUDUSD are tempting but the NZDUSD is the cleanest of the setups. The EURUSD decline stalled just shy of 12900 today. The decline would consist of 2 equal legs from the top at 12896 but the 9/12 high intersects today’s low. The AUDUSD decline would consist of 2 equal legs from the top at 10280 and the drop has yet to reach corrective channel support. Risk on longs in AUDUSD should be kept to today’s low given the extension potential on a drop to a new low (today’s low is an intraday pivot high from 9/10). The NZDUSD is the best setup as the decline channels in a corrective manner and today’s low intersects with the August high.

EURUSD – 240 Minute Bars

End_of_Week_Trade_Setups_in_US_Dollar_Crosses_body_eurusd.png, End of Week Trade Setups in US Dollar Crosses

Prepared by Jamie Saettele, CMT

AUDUSD – 240 Minute Bars

End_of_Week_Trade_Setups_in_US_Dollar_Crosses_body_audusd.png, End of Week Trade Setups in US Dollar Crosses

Prepared by Jamie Saettele, CMT

NZDUSD – 240 Minute Bars

End_of_Week_Trade_Setups_in_US_Dollar_Crosses_body_nzdusd.png, End of Week Trade Setups in US Dollar Crosses

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.

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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