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  • The Euro may fall against the US Dollar amid a historically strong month for the Greenback and relative bond yield spreads. EUR/USD appears to be eyeing bearish technical warning signs. Get your $EURUSD market update from @ddubrovskyFX here:https://t.co/njTDk8Ehoi https://t.co/w4II63utz1
  • The US Dollar is still struggling against most ASEAN currencies. USD/SGD remains downside-focused despite recent gains. USD/THB is eyeing a triangle. USD/IDR and USD/PHP may point lower. Get your market update from @ddubrovskyFX here:https://t.co/6Nvvmz8h6d https://t.co/TYsfOXHrro
  • (Weekly Fundamental) Australian Dollar Outlook: AUD/USD May Rise on Dovish Fed Speak After Huge NFP Miss #AUD $AUDUSD https://www.dailyfx.com/forex/fundamental/forecast/weekly/aud/2021/05/07/Australian-Dollar-Outlook-AUDUSD-May-Rise-on-Dovish-Fed-Speak-After-Huge-NFP-Miss.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/L9pERwjTqh
  • Bitcoin is struggling to extend April’s bounce while Ethereum and Litecoin are exhibiting signs of momentum exhaustion. What are key technical levels to watch for ahead? Find out from @ddubrovskyFX here:https://t.co/PnZId4xOh2 https://t.co/ZTYoxdBxLl
  • The Indian Rupee has been rising despite a surge in local Covid cases, owing to rising yields amid a temporary flood of US Dollars into the banking system. INR remains at risk, eyeing CPI data. Get your market update from @ddubrovskyFX here:https://t.co/6r7hahVtx4 https://t.co/a0z46Q0Mn4
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/tnF1RME8gJ
  • Top event risk on my radar for the week ahead: Musk on SNL (Sat); run of Fed speak with Brainard, Williams, Bostic (Tues); US CPI and UK GDP (Wed); Mexico central bank rate decision (Thur); US earnings - PLTR, BABA, ABNB, DASH, DIS (Tues-Thur). What are you watching?
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  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.82% 🇦🇺AUD: 0.77% 🇨🇭CHF: 0.75% 🇳🇿NZD: 0.62% 🇯🇵JPY: 0.46% 🇨🇦CAD: 0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/j5I6Gut0CR
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Gold: 0.85% Silver: 0.53% Oil - US Crude: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/wZsuyfwuv1
Webinar: Price Action Analysis for DJIA, EUR/USD and Gold Prices

Webinar: Price Action Analysis for DJIA, EUR/USD and Gold Prices

Jeremy Wagner, CEWA-M, Head of Education

The video above is a recording of a US Opening Bell webinar from October 16, 2017.

Looking for methods to improve your trading, check out this guide on Traits of Successful Traders guide.

In today’s US Opening Bell webinar, we discussed technical Elliott Wave patterns on several key markets for this week. Some of the key markets we analyzed (not in this order) include DJIA, EUR/USD, AUD/USD, GBP/USD, NZD/USD, EUR/GBP, EUR/NZD, GBP/AUD, gold, and crude oil.

This week marks the 30 year anniversary of Black Monday in DJIA. On October 19, 1987, DJIA crashed to finish the day down 23%. Though we are not expecting a large daily correction, DJIA does appear at a juncture where a correction may begin.

At multiple degrees of trend, DJIA has carved out a five wave advance. That advance is showing signs of tiring with divergence appearing in the Relative Strength Index (RSI). The dashboard is flashing warning lights of a possible correction so look for bearish patterns to form before participating to the short side.

EUR/USD is a market that appears to be supported over the coming weeks. We wrote last week how EUR/USD price appears attracted to 1.20. Once the current consolidation ends, we are looking for EUR/USD to break higher and possibly reach 1.22 where several wave relationships exist.

Gold prices have received their relief rally we anticipated. It is possible that gold prices may continue higher, but the counter trend bounce is becoming mature. Once this relief rally exhausts, we will be looking for a resumption of the sell off to run down towards $1200.

Learn more about trading with Elliott Wave by grabbing these beginner and advanced EW guides.

Are you new to trading FX? We created this guide just for you.

---Written by Jeremy Wagner, CEWA-M

Discuss these markets with Jeremy in Monday’s US Opening Bell webinar.

Follow me on Twitter at @JWagnerFXTrader .

See Jeremy’s recent articles at his Bio Page.

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

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