EURUSD DAILY

Market Update 10/28 – Euro vs. North America?

ByJamie Saettele

Remember the channel from the January high? EURUSD has confirmed a false break below the channel…which is bullish (low of the last 3 days is right at the channel line). Near term, I’m thinking 1.0700/30 puts up a fight. If it does, then watch for support near 1.0640. The next 3 charts show instances when EURUSD made a 5 day low and 20 day high on the same day. Today is just the 4th time that has happened since the euro’s inception. In the previous 3 instances, the ‘show of strength’ day (Wyckoff term) preceded large advances although not necessarily right away.

BTCUSD 4 HOUR

Market Update 10/27 – BTCUSD Warning Equities?

ByJamie Saettele

BTCUSD is off 13% since the top last week. If price drops under the short term lower channel line near 56830 then weakness will be considered impulsive and ‘waterfall’ weakness would be on the table. Watch for resistance near 61850. The weekly chart is shown below. This looks ‘toppy’ to me. Yes, ‘toppy’ is an official technical term. Former trendline support has provided resistance on the way up, a doji candle formed last week, and the rally failed after taking out the prior high. Seems bearish. Finally, is BTCUSD trying to tell equities something (see 2 charts down)

CADJPY DAILY

Market Update 10/20 – Extreme Daily RSI in Several Yen Crosses

ByJamie Saettele

CADJPY RSI closed at 82.79 on Wednesday. CADJPY data on TradeStation only goes back to 2007 but readings this high since then have only occurred several times since then; in December 2017 and June 2007 s(see below)! Bottom line, a reading this high is rare and therefore at risk of a reversal. Price wise, 93.25-94.50 is a zone to pay attention for a resistance and a high (see 2 charts down).

USDJPY DAILY

Market Update 10/18 – USDJPY Nears Big Zone

ByJamie Saettele

USDJPY has nearly reached the noted zone so pay attention. Aside from channel resistance, the level just above the market is defined by the late 2017 and 2018 highs at 114.55/74. A pullback from the zone would ‘make sense’. If reversal evidence arises, then there may be an opportunity to play the short side although 113.21 is in line for support (see below).