FXCM/DailyFX Signals and Analysis

[Jason Rogers]

EUR/CAD Bulls Brace for ECB- Rally Vulnerable Sub 1.4955

Technical Outlook

• EUR/CAD is trading into resistance of a descending formation off the September highs
• Resistance confluence & Bearish invalidation at 1.4956/80
• Key support 1.4561/90- Break lower targets objectives at 1.4450 / ML support & 1.4891
• A breach higher shifts focus back towards targets into the September high-day close at 1.5095
• Key Event Risk Ahead: European Central Bank (ECB) Interest Rate Decision & Canada Retail Sales tomorrow & Canada Consumer Price Index (CPI) on Friday

 

[Jason Rogers]

GBP/JPY Has Highest Volume Day in 5 Years

On Friday October 23, 2015, GBP/JPY traded its largest volume in over 5 years.

Friday ended up as a daily close higher, but the high price of the day may kick off an aggressive Elliott Wave 3 lower. Jeremy Wagner discusses the implications in his article on DailyFX.com.

 

[Jason Rogers]

The table above is from John Kicklighter's post-FOMC analysis on DailyFX.com.

 

[Jason Rogers]

Our retail forex trader data warns that the Euro will likely continue lower as the US Dollar rallies across the board.

Quantitative strategist David Rodriguez discusses his sentiment-based outlook for the Euro and other major currencies in his Weekly Speculative Sentiment Index (SSI) report.

 

[Jason Rogers]

EUR/USD's second-worst month of the year is November.

For more details, see Christopher Vecchio's article on DailyFX.com

 

[Jason Rogers]

GBP/USD Breakdown Potential on BoE, NFP



Talking Points

• GBP/USD holding descending channel ahead of key Event Risk
• Updated targets & invalidation levels
• Event Risk on Tap This Week

 

[Jason Rogers]

The Speculative Sentiment Index (SSI) reveals that retail forex traders remain heavily short the US Dollar. The latest analysis by David Rodriguez on DailyFX.com points to continued USD gains against these key currencies.

 

[Jason Rogers]

Talking Points

• Weekly Scalp Webinar archive covering featured setups post NFP
• Updated targets & invalidation levels
• Event Risk on Tap This Week

 

[Jason Rogers]

AUD/JPY Flirting with Pivotal Support

AUD/JPY Daily

Technical Outlook

• AUD/JPY holding below channel resistance off the October high
• Interim support 86.13/28- Break lower targets 85.46 & 84.58/72
• Resistance at 87 backed by near-term bearish invalidation 87.43/50
• Daily RSI support-trigger pending- break would be bearish
• Key Event Risk Ahead: Aussie Unemployment tomorrow and Japan Industrial Production & GDP later this week

 

[Jason Rogers]

Directional Volume Suggests Euro Losses Are Likely

The Euro has broken through all meaningful levels of volume-based support versus the US Dollar, and risks remain for a return to multi-year lows near the $1.05 mark. Resistance now stands at former support near $1.08, but we would need to see a break above more substantive volume-based resistance levels starting at $1.10 to call for a larger EUR rebound.

EUR/USD Volume at Price Chart

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)
Length of bar indicates the sum of Buy and Sell volume.
Data source: FXCM Real Directional Volume Indicator​

See more information on DailyFX on the Real Volume and Transactions indicators