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  • there's that 1.4000 level again $GBPUSD multiple resistance inflections on the way up. first support test at this spot since the breakout https://t.co/qpsq0NqMvN https://t.co/snZCBwNrby
  • $USD made it a quick trip up to fibo resistance looked at in yday's webinar ~90.82 https://t.co/gedHWHfyKN https://t.co/ICAUcMaHYT
  • This is a pair flying under the radar but registering an extreme. $CADJPY weekly has difference between spot and 50-week moving average at +9.5%. Momentum past three weeks not only aggressive, the move has pushed it to 50% of 2014-2020 and 38.2% Fib of historical range https://t.co/yQJ15UpOTG
  • 🇺🇸 Initial Jobless Claims (08/MAY) Actual: 473K Expected: 490K Previous: 566K https://www.dailyfx.com/economic-calendar#2021-05-13
  • 🇺🇸 Jobless Claims 4-week Average (MAY/08) Actual: 534K Previous: 655.75K https://www.dailyfx.com/economic-calendar#2021-05-13
  • 🇺🇸 Continuing Jobless Claims (01/MAY) Actual: 3655K Expected: 3655K Previous: 3651K https://www.dailyfx.com/economic-calendar#2021-05-13
  • 🇺🇸 PPI MoM (APR) Actual: 0.6% Expected: 0.3% Previous: 1% https://www.dailyfx.com/economic-calendar#2021-05-13
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.48%, while traders in GBP/JPY are at opposite extremes with 68.51%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ebZHqitIAd
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.20% 🇯🇵JPY: 0.12% 🇪🇺EUR: 0.08% 🇳🇿NZD: -0.06% 🇬🇧GBP: -0.12% 🇦🇺AUD: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/i6Lngot973
  • Heads Up:🇺🇸 Initial Jobless Claims (08/MAY) due at 12:30 GMT (15min) Expected: 490K Previous: 498K https://www.dailyfx.com/economic-calendar#2021-05-13
EURUSD Resistance Formation and AUDNZD Top

EURUSD Resistance Formation and AUDNZD Top

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.)

-EURUSD-is holding 13014 support but resistance has also formed at 13055/85. There are multiple wave counts at the current juncture which increases risk for those involved. A print above 13139 could complete the rally from 12824. A drop below 12990 would suggest that the EURUSD is headed towards the early October lows. I exited longs from last week this morning (released via Twitter @JamieSaettele).

-AUDCHF-“intraday action remains constructive and I’m looking to increase long exposure below 9558 (previously 9540). I am long and risk has been moved up from 9435 to 9489.” The AUDCHF is stabilizing below 9558 although I’ve yet to increase exposure given the slow market. Exceeding 9661 would set sights on 9784/98.

-AUDUSD and NZDUSD – remain constructive against 10270 and 8108. I am bullish (longs were taken last week in NZDUSD at 8197).

-AUDNZD-“is approaching resistance from 12687-12717 (JS Thrust day close from 9/13 and 38.2% retracement of decline from 13277). Shorts into that level may result in a return to the former 4th wave at 12487”. It’s possible of course that a top is in place at 12673. I went short last night 12643.

EURUSD – 60 Minute Bars

EURUSD_Resistance_Formation_and_AUDNZD_Top_body_eurusd.png, EURUSD Resistance Formation and AUDNZD Top

Prepared by Jamie Saettele, CMT

NZDUSD – 60 Minute Bars

EURUSD_Resistance_Formation_and_AUDNZD_Top_body_nzdusd.png, EURUSD Resistance Formation and AUDNZD Top

Prepared by Jamie Saettele, CMT

AUDNZD – 60 Minute Bars

EURUSD_Resistance_Formation_and_AUDNZD_Top_body_audnzd.png, EURUSD Resistance Formation and AUDNZD Top

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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