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
Bullish
Oil - US Crude
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
Wall Street
Bullish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: -0.04% 🇬🇧GBP: -0.12% 🇯🇵JPY: -0.16% 🇨🇦CAD: -0.24% 🇳🇿NZD: -0.25% 🇦🇺AUD: -0.41% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/lMQ3TjxhBC
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: US 500: -0.35% Wall Street: -0.55% FTSE 100: -0.59% France 40: -0.64% Germany 30: -0.65% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/gv8QNTSwcm
  • 🇫🇷 Balance of Trade (MAY) Actual: €-7.1B Previous: €-5B https://www.dailyfx.com/economic-calendar#2020-07-07
  • Heads Up:🇫🇷 Balance of Trade (MAY) due at 06:45 GMT (15min) Previous: €-5B https://www.dailyfx.com/economic-calendar#2020-07-07
  • Understanding the US-Mexico relationship and how the ebb and flow of economic activity in the former impacts the latter is crucial for trading USD/MXN. Get your $USDMXN market update from @ZabelinDimitri and @FxWestwater here:https://t.co/oCRV13zbF0 https://t.co/2Q2LCCdLKN
  • RT @margaretyjy: Australia's Victoria State Premier: To Re-Impose Stage 3 Stay At Home Restrictions For 6 Weeks
  • Victoria announces 6-week lockdown across Melbourne metro area -BBG $AUDUSD
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/0L5YNYQDkJ
  • RT @DanielGMoss: $AUDUSD nudged higher as the #RBA kept interest rates steady at 0.25% Fiscal stimulus may dictate $AUD outlook with measu…
  • 🇯🇵 Leading Economic Index Prel (MAY) Actual: 79.3 Previous: 77.7 https://www.dailyfx.com/economic-calendar#2020-07-07
FOREX Technical Analysis: GBPUSD 3 Wave Advance is the Tell

FOREX Technical Analysis: GBPUSD 3 Wave Advance is the Tell

2012-11-07 01:29:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily Bars

FOREX_Technical_Analysis_GBPUSD_3_Wave_Advance_is_the_Tell_body_gbpusd.png, FOREX Technical Analysis: GBPUSD 3 Wave Advance is the Tell

Chart Prepared by Jamie Saettele, CMT

FOREX Observations: The clearest pattern in recent history is the 3 wave advance from 15913 to 16174 (first day of the month high). 3 wave moves indicate countertrend moves and in this case suggest that the trend is down. Still holding 15951, additional resistance comes in at 16040.

FOREX Trading Strategy Implications: Allowing for (but not expecting) a bounce into 16040, I remain bearish. Risk is moved down to 16174 and a level of interest on the downside is the well-defined 15770 (former resistance, 50% retracement and 100% extension of decline from the top).

LEVELS: 15825 15912 15951 16040 16079 16120

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

DISCLOSURES

News & Analysis at your fingertips.