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  • $EURJPY had been heading higher today, crossing above 126.20 and hitting its highest levels since last week. $EUR $JPY https://t.co/bKsWiKxRmz
  • USD/CAD trending lower has been a theme since it peaked in dramatic fashion back in March, but the downtrend may be put to the test soon as a falling wedge pattern comes to light. Get your $USDCAD market update from @PaulRobinsonFX here:https://t.co/qjobL4Uyq9 https://t.co/wgd9nZSGpj
  • US Indices remain in the red but have pared some losses as session advances into the afternoon. DOW -0.38% NDX -0.13% SPX -0.24% RUT -0.03% $DOW $QQQ $SPY $IWM
  • A bout of risk aversion sees the Australian Dollar under pressure this morning with a larger than expected drop in retail sales adding to the soft tone for the currency. Get your $AUD market update from @JMcQueenFX here:https://t.co/fCa9gCxxxk https://t.co/WaAG58Ztar
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in EUR/JPY are at opposite extremes with 64.66%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/juDA0EsIR7
  • Totally normal market behavior happening in $GME which was just halted after surging 69% in the session https://t.co/UT6RrOhZ2L
  • $EURCAD hit an intraday high just shy of 1.5500 before turning slightly downward. The pair is currently trading at its highest levels since early last week. $EUR $CAD https://t.co/Cj6Vu9Rg5L
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Gold: -0.84% Oil - US Crude: -1.40% Silver: -1.82% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Nc1fRSiBw5
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.08% 🇨🇭CHF: -0.03% 🇯🇵JPY: -0.27% 🇳🇿NZD: -0.52% 🇦🇺AUD: -0.54% 🇨🇦CAD: -0.64% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/hFb5XRGzCL
  • UK PM Johnson says there are some new evidence that the new COVID variant may be linked to higher mortality $GBP
USDOLLAR MAJOR Topping Pattern Since March 2015

USDOLLAR MAJOR Topping Pattern Since March 2015

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USDOLLAR MAJOR Topping Pattern Since March 2015

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last update noted that “the USDOLLAR index has retraced half of the January-May decline. Near term pressure is higher while the index is above the 5/26 low of 11921. An area that could cause problems for bulls is roughly 12040/64. This area is defined by the 200 day average and 61.8% retracement of the January-May decline.” The index never made it to the cited area. The sharp decline from well-defined slope is evidence that everything since March 2015 is a topping pattern.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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

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