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Crude Decision Looms at Trendline Support

Daily Chart Prepared by Jamie Saettele, CMT DailyFX Trading Guides and Forecasts -“Crude is constructive as long as price maintains the bullish structure that has defined supports since early April. The October 2015 high is at 50.88, which is where …

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GBP/USD Breaks Down from 14 Week Channel

Daily Chart Prepared by Jamie Saettele, CMT DailyFX Trading Guides and Forecasts -I’ve maintained a bullish bias on Cable in recent months, ‘thinking’ that price action from the January low was going to form a bottoming pattern and lead to …

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Gold Tests March High; 1247 Still Support on a Dip

Daily Chart Prepared by Jamie Saettele, CMT DailyFX Trading Guides and Forecasts -“Bigger picture, gold completed a diagonal pattern (wedge) the week of February 12th. The objective from the pattern is the origin of the diagonal, which is 1392.” I …

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USD/JPY In for a Test of 103.70s?

Daily Chart Prepared by Jamie Saettele, CMT DailyFX Trading Guides and Forecasts -The last update noted that “the 105 handle is huge for USD/JPY. The head and shoulders target is 115.26. The October 2014 low is 105.19 and the January …

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USD/CHF One of the ’Heavier’ USD Crosses

Daily Chart Prepared by Jamie Saettele, CMT DailyFX Trading Guides and Forecasts -The last update noted that “USD/CHF broke through the wedge so the ‘major advance’ may be underway.” The break through former wedge resistance signals a failed bullish pattern. …

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AUD/USD Well-Defined .7500 Still Caps Rally

Daily Chart Prepared by Jamie Saettele, CMT DailyFX Trading Guides and Forecasts -Recent comments regarding AUD/USD noted that “AUD/USD turned up on the final day of May (low was .7145). Focus is higher until further notice but .7490 (former support) …

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EUR/USD Familiar Support Line Nearby before FOMC

Daily Chart Prepared by Jamie Saettele, CMT DailyFX Trading Guides and Forecasts High Frequency Trading Ideas -“Watch for support just below 1.1100 towards the end of the month. Have a plan! (see other traits of successful traders). Watch for an …

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USDOLLAR Retraces Most of NFP Drop; Resistance Still Above

Daily 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 …

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NZD/USD Reversing from Channel Resistance

Daily Chart Prepared by Jamie Saettele, CMT DailyFX Trading Guides and Forecasts -“NZD/USD has erased most of the May drop in just the first week of June. Longer term, the area above .7100 is interesting. If NZD/USD trades up to …

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USD/CAD Range for a Right Shoulder?

Daily Chart Prepared by Jamie Saettele, CMT DailyFX Trading Guides and Forecasts -“The May low in USD/CAD is at (exactly) former channel resistance but the recent high is also at a well-defined level. Hmmm…strong support and strong resistance…sounds like conditions …

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