AUDJPY DAILY

Market Update 1/25 – AUDJPY Setup in FOMC

ByJamie Saettele

Keep an eye on AUDJPY. Monday’s low tagged the center line of the channel from the October high. The 25 line cuts through former lows and is in line with the well-defined 82.10…watch that for resistance. A break lower would target 78.84 and 76.80s, which is 2 legs down from the October high and the lower parallel of the channel. If price breaks below the center line then the underside of that line becomes resistance. Bottom line, there are solid reference points that should help return to the short side.

USDJPY 4 HOUR

Market Update 11/29 – Massive Yen Reversal in Play

ByJamie Saettele

USDJPY reversed sharply last week and high was 115.52! Near term downside focus is 112.20s and 114.50s sticks out as possible resistance. This is the 61.8% retrace of the decline from the high along with the 25 line of a short term fork. The 75 line provided support (so far) so resistance at the 25 line would make sense.

SPOT GOLD 4 HOUR

Market Update 11/11 – Trade Setup in Gold

ByJamie Saettele

The cleanest setup from my vantage point at the moment is in gold. Price has broken out (remember 1834 was possible resistance…it didn’t do anything so it’s support) and 1834 is proposed support. Former resistance is reinforced by the top side of the line off of the 2020 and May highs along with the center line of the short term bullish channel (which was formerly resistance). Upside focus is the May high at 1916.

USDSEK DAILY

Market Update 11/4 – Is USDSEK the ‘Tell’?

ByJamie Saettele

I have not been ‘in tune’ with USD moves for the better part of the last month. During periods of uncertainty, I find it helpful to go back to the basics. USDSEK is often a ‘tell’ for general USD trends and pivots. Here are several objective technical observations;

USDSEK is holding the 200 day midpoint (similar to the 200 day average)…this is bullish.

The decline from the 8/20 high is in 2 equal legs…this is characteristics of a corrective decline within a larger advance…bullish

Daily RSI registered ‘overbought’ readings at price highs over the last year and RSI readings at price lows have been above 30…this is also bullish.

In summary, the weight of evidence is USDSEK bullish and therefore generally USD bullish (notably against European FX). At least that’s where my mind is at the moment.

Market Update 7/27 – European FX Levels Pre-FOMC

Market Update 7/27 – European FX Levels Pre-FOMC

ByJamie Saettele

Focus remains higher for EURUSD following today’s hold. In fact, price pulled back to noted support and immediately turned higher. FOMC is tomorrow. The only reason I mention that is because of the potential for increased volatility. Even if you told me what Powell would say tomorrow, it wouldn’t matter. Only the reaction matters! Bottom line, price has held support (for now at least) so I’m looking higher towards the well-defined 1.1950/90 zone.