Daily Technicals
NZDUSD Technical Confluence Near 7650
Wednesday, 16 May 2012 01:00
Daily Bars
Prepared by Jamie Saettele, CMT
The NZDUSD easily sliced through the trendline that extends off of the 2009 and late 2011 lows. More importantly, price has dropped below the 2012 low (which had been made on the first trading day of the year) to mark an intrayear reversal. The late December pivot low at 7650 (also the 161.8% extension of...
AUDUSD Makes a Clean Break Targets 9860
Wednesday, 16 May 2012 01:00
Daily Bars
Prepared by Jamie Saettele, CMT
The AUDUSD has cleanly broken below the trendline that extends off of the May 2010 and October 2011 lows as well as the downward sloping channel that defines the trend since the February top. Focus is on the December 2011 low at 9860 (in line with the July 2008 top at 9849) as long as price is below 10035.A...
Gold Has Plenty of Room Below December Low
Wednesday, 16 May 2012 01:00
Weekly Bars
Prepared by Jamie Saettele, CMT
Gold has broken below a major trendline (and channel) that extends off of lows in 2008, 2010, and 2011. Focus is now on the December low at 1522.50 and then support from May 2011 and resistance from December 2010 at 1430/60. Look lower against the Monday high of 1586.
LEVELS: 1612 1586 1522.50 1477 1462...
USDCAD Breakout is Valid | DailyFX
Wednesday, 16 May 2012 01:00
Daily Bars
Prepared by Jamie Saettele, CMT
“As more information (price date) is revealed, it seems more and more likely that the late April decline was a false break. There will surely be stubborn traders out there that hold on to shorts, which should fuel the move higher in the coming weeks.” The trade above 10050 leaves the late April decline as ...
GBPUSD Gives in and Falls Below Trendline
Wednesday, 16 May 2012 01:00
Daily Bars
Prepared by Jamie Saettele, CMT
“The inability to find a low early in the month decreases confidence in bullish continuation as per my trading rules”. This rule has saved us from trying to buy the GBPUSD. Currently just below support from the trendline that extends off of the January, March, and 4/16 lows and approaching former res...
Crude 9250 and 8915 are of Interest
Wednesday, 16 May 2012 01:00
Daily Bars
Prepared by Jamie Saettele, CMT
After a week of consolidation, crude has broken lower and focus remains on the December low at 9251 (50% retracement of rally from 7494 is at 9227). The next level of interest comes in at resistance from September at 9049 and the 11/1/11 low at 8915. The downside is favored towards mentioned levels...
USDOLLAR Tags March High; Support Now 10050
Wednesday, 16 May 2012 01:00
Daily Bars
Prepared by Jamie Saettele, CMT
“The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR[1]) continues to advance. The index marches higher nearly every day and may be on the verge of a significant bullish breakout. Price tested the March high today (10097) and focus is now on the October high at 10134. Trading through there would signal a...
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