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Major Levels in USD Crosses and Silver
Scand.Ex is pleased to present the next video with trading analysis by Jamie Saettele, our Chief Technical Analyst.
Market Update – June 9
USDJPY plunged today. Price could bounce from the lower parallel of the short term fork near 108.00. Proposed resistance is the year open and center line at 108.75-109.00. Seasonal tendencies have turned down and the rally from the May low is in 3 waves. The implication is that the rally is complete as a correction and that price is headed for a break of the May low of 105.99.
Market Update 4/5 – Commodity FX Due for a Pullback
Today’s post is extremely short as I’ve been having tech issues throughout the day.
Tuesday’s Aussie spike on ‘news’ (RBA) has top written all over it. Price spiked into and reversed from a well-defined level (61.8% retrace of the decline from the 2021 high and former support) following RBA. Perhaps we’ll finally get the pullback into the top side of former trendline resistance (blue line), which is near .7375 now.
Market Update: February 2
AUDUSD responded to the 25 line of the Schiff fork from the March low. Recall that price topped at the 75 line (75 and 25 lines are magenta)…a perfect example of median line symmetry! Focus remain towards the lower parallel near .7413. Proposed resistance is .7640.
Market Update 12/13 – Watch AUDUSD and NZDUSD Down Here
AUDUSD has pulled back following a slight push above .7170. My view is that the decline is corrective. The 61.8% retrace is in line with the 11/30 low at .7060s. That sticks out to me as the ideal spot for support.
Market Update 7/29 – GBPUSD Reversal Watch
GBPUSD hasn’t quite reached 1.4000 (high today was 1.3982) but the upper parallel was reached. I am on reversal watch in Cable right now…especially given bearish seasonal tendencies over the next few weeks (see below).