23 May 2012 10:09 GMT FXCM Expo Videos
Innovative Techniques with Traditional Technical Indicators
Trading with the Elliott Wave Principle
Seeing the Forest from the Trees: An Analysis of Global Markets
Afternoon Technicals (all charts)
Other TA (crosses, COT, etc.)
This morning’s action may compose the ‘flush’ before a larger correction takes hold. There are no setups to short the USD here with a sensible stop. Sure, the USD may extend a bit beyond current levels but reward/risk on USD longs is no longer favorable (except maybe against the Yen). HUGE levels have given way, most notably the January low at 12623 in the EURUSD. In my experience, the breech of such levels tends to give way to consolidation / corrective action BEFORE the next larger move. Make no mistake, the larger trend is towards USD strength but don’t get caught long USD at bad prices.
I’ll look to identify USD support as corrections unfold in real time but levels to keep in mind are 15890 in GBPUSD, 12870-12900 in EURUSD, 9970-10020 in AUDUSD, 7760 in NZDUSD, and 10060 in USDCAD.
EURUSD 240 Minute
EURUSD 240 Minute
Prepared by Jamie Saettele, CMT
GBPUSD 240 Minute
Prepared by Jamie Saettele, CMT
NZDUSD 240 Minute
Prepared by Jamie Saettele, CMT
USDOLLAR 240 Minute
Prepared by Jamie Saettele, CMT
Innovative Techniques with Traditional Technical Indicators
Trading with the Elliott Wave Principle
Seeing the Forest from the Trees: An Analysis of Global Markets
Afternoon Technicals (all charts)
Other TA (crosses, COT, etc.)
This morning’s action may compose the ‘flush’ before a larger correction takes hold. There are no setups to short the USD here with a sensible stop. Sure, the USD may extend a bit beyond current levels but reward/risk on USD longs is no longer favorable (except maybe against the Yen). HUGE levels have given way, most notably the January low at 12623 in the EURUSD. In my experience, the breech of such levels tends to give way to consolidation / corrective action BEFORE the next larger move. Make no mistake, the larger trend is towards USD strength but don’t get caught long USD at bad prices.
I’ll look to identify USD support as corrections unfold in real time but levels to keep in mind are 15890 in GBPUSD, 12870-12900 in EURUSD, 9970-10020 in AUDUSD, 7760 in NZDUSD, and 10060 in USDCAD.
EURUSD 240 Minute
EURUSD 240 Minute
Prepared by Jamie Saettele, CMT GBPUSD 240 Minute
Prepared by Jamie Saettele, CMT NZDUSD 240 Minute
Prepared by Jamie Saettele, CMT USDOLLAR 240 Minute
Prepared by Jamie Saettele, CMT
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