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EUR/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.

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FX Week Ahead - Top 5 Events: Chinese, German, US Inflation Rates; Banxico Rate Decision; US Retail Sales
2021-05-10 19:00:00
US Dollar Draws Near Key Support; EUR/USD to Two-Month Highs
2021-05-10 15:30:00
Oil - US Crude
Bearish
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High
of clients are net long.
of clients are net short.
Long Short

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Technical Levels for US Dollar, GBP/USD, USD/CAD, AUD/USD, Gold & Oil
2021-05-10 15:00:00
Crude Oil Prices Climb on Major US Pipeline Disruptions, Weaker USD
2021-05-10 06:00:00
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

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As a New Retail Trader Age Rises, Heed Tales of Past Manias
2021-05-10 09:00:00
Dow Jones, Hang Seng, ASX 200 Outlook: Big NFP Miss Defies Tapering Fears
2021-05-10 01:00:00
Gold
Mixed
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of clients are net long.
of clients are net short.
Long Short

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Technical Levels for US Dollar, GBP/USD, USD/CAD, AUD/USD, Gold & Oil
2021-05-10 15:00:00
Gold Price Approaches 200-Day SMA for First Time Since February
2021-05-10 14:00:00
GBP/USD
Bullish
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of clients are net short.
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2021-05-10 15:00:00
Monthly Forex Seasonality - May 2021: Sell in May and Go Away? Not for USD, Stocks
2021-05-10 12:30:00
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Bullish
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of clients are net long.
of clients are net short.
Long Short

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USD/JPY Pares Post-NFP Decline as US Treasury Yields Recover
2021-05-10 19:00:00
FX Week Ahead - Top 5 Events: Chinese, German, US Inflation Rates; Banxico Rate Decision; US Retail Sales
2021-05-10 19:00:00
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  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: US 500: 0.04% Wall Street: 0.03% France 40: -0.58% Germany 30: -0.61% FTSE 100: -0.72% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/e6fmDyQxPH
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  • ...but before you write off H&S patterns because more have fallen apart rather than catalyzed lately, consider the monthly chart of $AUDUSD as well. That 0.8000-0.7925 zone is no joke as its historical midpoint, trendine and other technical points confluence https://t.co/dB6edmmA1d
  • While there are other Dollar pairs getting more attention lately, I think $AUDUSD deserve a spot in the rotation. It's currently working out whether it is going to abide 2021's range as a consolidation reversal risk (H&S pattern)... https://t.co/M7dG0a8Isw
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Gold: 0.31% Oil - US Crude: -0.18% Silver: -0.50% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/AS3CtSNbr4
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.77%, while traders in Wall Street are at opposite extremes with 78.12%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/wI1kMvJkwU
EURUSD Pressing Fibonacci Resistance and Former High

EURUSD Pressing Fibonacci Resistance and Former High

Jamie Saettele, CMT, Sr. Technical Strategist

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 EURUSD has returned to the near term high risk area for bulls. The level is defined by the 10/5 high and 61.8% retracement of the decline from the high. While pattern and momentum are broadly bullish, there remain plenty of short term possibilities (triangle for example). For this reason, my stop on the long has been moved to 13014.

-AUDCHF-testing the much discussed 9510 level – this is support. If a larger rebound is in the works then we should know in the next few days.

-EURJPY-has entered a short term high risk area for bulls. 10322/30 is expected resistance if reached (high today is 10307). 10247 is near term support.

EURUSD – 240 Minute Bars

EURUSD_Pressing_Fibonacci_Resistance_and_Former_High_body_eurusd.png, EURUSD Pressing Fibonacci Resistance and Former High

Prepared by Jamie Saettele, CMT

AUDCHF – Daily Bars

EURUSD_Pressing_Fibonacci_Resistance_and_Former_High_body_audchf.png, EURUSD Pressing Fibonacci Resistance and Former High

Prepared by Jamie Saettele, CMT

EURJPY – Daily Bars

EURUSD_Pressing_Fibonacci_Resistance_and_Former_High_body_eurjpy.png, EURUSD Pressing Fibonacci Resistance and Former High

Prepared by Jamie Saettele, CMT

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter @JamieSaettele

Subscribe to Jamie Saettele's distribution list in order to receive actionable FX trading strategy delivered to your inbox once a day.

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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