News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bearish
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
Wall Street
Bearish
Gold
Bearish
GBP/USD
Bearish
USD/JPY
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
More View more
Real Time News
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.41% 🇨🇦CAD: 0.36% 🇯🇵JPY: 0.20% 🇦🇺AUD: 0.16% 🇪🇺EUR: 0.16% 🇨🇭CHF: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/sCW4DtQP6y
  • Heads Up:🇺🇸 Durable Goods Orders Ex Transp MoM (SEP) due at 12:30 GMT (15min) Expected: 0.4% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2020-10-27
  • Heads Up:🇺🇸 Durable Goods Orders MoM (SEP) due at 12:30 GMT (15min) Expected: 0.5% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2020-10-27
  • White House spokeswoman says administration is confident that it can reach COVID aid package in coming weeks - Fox News
  • 🇲🇽 Balance of Trade (SEP) Actual: $4.385B Expected: $3.795B Previous: $6.116B https://www.dailyfx.com/economic-calendar#2020-10-27
  • Heads Up:🇲🇽 Balance of Trade (SEP) due at 12:00 GMT (15min) Expected: $3.795B Previous: $6.116B https://www.dailyfx.com/economic-calendar#2020-10-27
  • EU Commission says both the EU and UK are engaging intensively to reach a deal $GBP
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/kERhNpX24T
  • 🇫🇷 Unemployment Benefit Claims (SEP) Actual: -15.2K Previous: -171K https://www.dailyfx.com/economic-calendar#2020-10-27
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.88%, while traders in NZD/USD are at opposite extremes with 72.94%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/vSpkpJR5DJ
EURUSD Technical Observations Indicate Potential for Bullish Outcome

EURUSD Technical Observations Indicate Potential for Bullish Outcome

2015-06-19 19:05:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:
  • EURUSD headed to 1.20?
  • GBPUSD crosses above 52 week average
  • USDJPY may have made an important top

--Subscribe to Jamie Saettele's distribution list in order to receive a free report to your inbox several times a week.

--For more analysis and trade setups (including current positions and the ‘watchlist’, visit SB Trade Desk

EUR/USD

Weekly

EURUSD Technical Observations Indicate Potential for Bullish Outcome

Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader

-“Several longer term technical observations are worthy of note; the rate found low at an important long term level (line off of 2008 and 2010 lows) and the ownership profile (as per COT) is at a record. The speculative crowd has never been more bearish…ever. Such conditions typically precede important reversals.”

-Since the March low, EURUSD has rallied sharply and declined sharply. The decline from the May high ended near the 61.8% retracement of the March-May advance. Daily RSI briefly poked above 70 at the May high and bottomed at 40 at the May low. These observations are consistent with a sideways market at worst and possibly the early stages of a larger rally. Even a test of the major breakdown level would result in a move to 1.20.

GBP/USD

Weekly

EURUSD Technical Observations Indicate Potential for Bullish Outcome

Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader

-GBPUSD has broken above its 52 week average for the first time since September 2013. There are hurdles to clear from slope resistance (on various time frames) up to about 1.60. As such, a period of consolidation below 1.60 may be in store before an attempt on 1.64+ (2 equal legs from the April low).

AUD/USD

Weekly

EURUSD Technical Observations Indicate Potential for Bullish Outcome

Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader

-A slope confluence pinpointed the May high, which keeps the broader trend pointed lower. A long term level to be aware of in AUDUSD is the line that connects the 2001 and 2008 lows, which is near .7100. Be aware that the range that has been underway since April could persist for months and morph into a triangle or flat pattern.

NZD/USD

Weekly

EURUSD Technical Observations Indicate Potential for Bullish Outcome

Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader

-“One can’t help but notice that an epic double top is possible with a target of .5898. That would trigger on a drop below .7370.”

-“A bearish wedge pattern has formed and yields an objective of .6607.” Look towards the mentioned objective as long as price is below .7230. A weekly close above .7050 would warn of a bottoming attempt.

USD/JPY

Weekly

EURUSD Technical Observations Indicate Potential for Bullish Outcome

Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader

-“A USDJPY breakout from the 6 month coil would open up 123.16-124.13 (high close from June 2007 and 2007 high). A measured objective from the pattern yields 125.72 and 128.12.”

-USDJPY ended up trading to 125.85 (the mentioned 125.72 was the December range x .618 + the December high…basically a Fibonacci range expansion). Failure at long term uptrend resistance indicates potential for an important top to form.

USD/CAD

Weekly

EURUSD Technical Observations Indicate Potential for Bullish Outcome

Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader

-“A broader range may in store. In fact, weekly RSI recorded its 2nd highest reading ever in Jan (only higher reading was in 1984). Other high periods led to extended periods of sideways trading. The failed run at a high volume level (1.2560) twice warns of additional range trading.” Levels to pay attention to within the range are 1.2160 and 1.2430.

USD/CHF

Weekly

EURUSD Technical Observations Indicate Potential for Bullish Outcome

Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader

-Is USDCHF leading? Lower highs and lower lows since February along with a bearish daily RSI profile indicate potential for something bigger on the downside (think .8600). USDCHF also continues to respect near term slope. A push above the 5/17 high at .9542 would shift focus higher towards .9971.

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

DISCLOSURES