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.

Free Trading Guides
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.

Data provided by
GBP/USD
Bearish
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
Bullish
Bitcoin
Mixed
More View more
Real Time News
  • #DidYouKnow crude #oil is a natural resource that differs in composition depending on its location. Find out more crude oil facts from @WVenketas here: https://t.co/Ssp486xz2J #OOTT #CommoditieswithDailyFX https://t.co/zhkg96pyWo
  • RT @IHSMarkitPMI: 🇪🇺 Eurozone endured its worst quarter since 2013, according to flash PMI data, with December coming in at 50.6 (unchanged…
  • Tune in to @CVecchioFX 's #webinar at 7:30 AM ET/12:30 PM GMT to prepare for major event risk in the week ahead. Register here: https://t.co/QscMCDP1ud https://t.co/TZfPbJO4np
  • RT @lisaabramowicz1: Sweden is in the spotlight of global monetary policy as counterparts watch to see how easy it is for the experiment of…
  • RT @elerianm: Good morning. Wishing you all a good week Mixed real economy data to start the week: A beat in #China for retail sales (+8% Y…
  • The inside bar pattern occurs regularly within the financial markets. Incorporating the inside bar strategy within a trading system can enhance a trader’s market analysis technique. Find out how you can use it from @WVenketas here: https://t.co/E3EWOYTYNw https://t.co/zXiuoUw0ar
  • RT @elerianm: This @FT story--on "US #retailers hit by ‘worst year since 2008’ for discounting"--could be read as the third partial indicat…
  • RT @Schuldensuehner: Just to put things into perspective. S&P500’s all-time high driven mainly by global liquidity which hit an all-time hi…
  • RT @KyleR_IG: * CHINA NOV. RETAIL SALES RISE 8% Y/Y; EST. 7.6% * CHINA NOV. INDUSTRIAL OUTPUT RISES 6.2% y/y; EST. 5% * CHINA JAN-NOV FIXED…
  • Gold Price: XAU/USD Key Chart Signals to end Consolidation- GLD Forecast More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/xau-usd/2019/12/16/Gold-Price-XAUUSD-Key-Signals-to-end-Consolidation--GLD-Forecast-MK.html?CHID=9&QPID=917714 https://t.co/WUxDroWEBk
Euro Pattern Clear; Short Term Resistance is Well Defined

Euro Pattern Clear; Short Term Resistance is Well Defined

2010-03-19 14:01:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:
eurusd0319
 
The 4th wave correction in the EURUSD is most likely complete.  The top is close to parallel channel resistance as well as the 38.2% retracement of the decline from 14583 (common end points for 4th waves).  More importantly, the decline from 13822 is impulsive (5 waves).  Expectations are for a small 2nd wave to bring price back to 13640-13700 either today (Friday) or Monday.  A rally presents an opportunity to short against the larger 4th wave high in anticipation of a break to a 2010 low.  
 
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum.  He is the author of Sentiment in the Forex Market.  Follow his intraday market commentary and trades at DailyFX Forex Stream.   Send requests to receive his reports via email to jsaettele@dailyfx.com.

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

DISCLOSURES

News & Analysis at your fingertips.