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
Bullish
GBP/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
USD/JPY
Mixed
Gold
Bearish
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
Bitcoin
Mixed
More View more
Real Time News
  • Bank of Korea's Lee: Two members opposed today's decision to hold rates -BBG
  • The #Euro may be close to resuming the downtrend against the US Dollar after managing a shallow recovery from support just below the 1.08 figure. Get your $EUR market update from @IlyaSpivak here: https://t.co/WJCO0fVagR https://t.co/ytCj6HqOVE
  • Bank of Korea's Governor Lee: Coronavirus outbreak affecting consumption and exports. Latest GDP view is based on virus peaking in March. Negative virus impact likely to be concentrated in 1Q -BBG
  • #Brazil benchmark equity index #Ibovespa suffered its biggest one-day decline since May 2017 and broke a 2-year uptrend after news broke that Latin America's largest country reported its first case of #Covid_19. It may be a painful session ahead when local markets open. https://t.co/YFLJD1gCVs
  • Bank of Japan's Kataoka: It is appropriate for the central bank to lower interest rates, BoJ should strengthen forward guidance. Coordination with fiscal policy very important -BBG
  • Looking at my majors-based #Yen index, #JPY could have quite the room to rally on average if there is a deeper turn in equities. The currency has still largely been consolidating since December on average and a break above the January and February highs could mark a bullish trend https://t.co/fIA4BeTmyf
  • The $JPY has lost out to a broadly resurgent US Dollar, with a clearly dwindling band of Yen bulls left to hope that the most recent rise has become overextended. Get your market update from @DavidCottleFX here:https://t.co/7Ndm5jiOi7 https://t.co/nP50B7d4yi
  • The double-edged sword of globalization: Pro: Hyper interconnectedness means everything is transmitted far more quickly. Con: Hyper interconnectedness means everything is transmitted far more quickly.
  • China reports 433 additional #coronavirus cases on February 26 which brings total to 78,497. 29 deaths were also reported bringing total fatalities to 2,744 -BBG
  • Bank of Korea says it will continue to monitor the #COVID19 outbreak (BBG)
USDOLLAR Reverses Most of Friday Advance; Channel Near 10410

USDOLLAR Reverses Most of Friday Advance; Channel Near 10410

2013-10-07 22:59:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Reverses Most of Friday Advance; Channel Near 10410

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-USDOLLAR declined for a 5thconsecutive weekfor the first time since the week that ended June 3rd, 2011.

-The decline from the July high would consist of 2 equal waves at 10449. The trendline that extends off of the September and December 2012 has been reached.

-Channel support is at about 10410. The April low is at 10391.

Trading Strategy: Flat

LEVELS: 10391 10410 10449 | 10509 10541 10580

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

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

Subscribe to Jamie Saettele'sdistribution list in order to receive actionable FX trading strategy delivered to your inbox. Jamie is the author of Sentiment in the Forex Market.

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

DISCLOSURES

News & Analysis at your fingertips.