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Seeing the Forest from the Trees: An Analysis of Global Markets

Afternoon Technicals (all charts)

Other TA (crosses, COT, etc.)

Morning Notes:

DAX - With focus back on Europe, keep an eye on the German DAX. The rally from the September low appears complete in 3 waves. Expect resistance at 6763 (and watch short term Elliott channel resistance).

Prepared by Jamie Saettele, CMT

EURUSD - Focus is on January resistance at 12880. This level intersects channel support late this week. Watch that level closely because a drop below the channel would be a 'tell' that the decline from 13379 is a 3rd wave rather than a C wave. Early week resistance is 13100.

Prepared by Jamie Saettele, CMT

GBPUSD - Look lower towards 15770 and the 100% extension at 15727. The 100% extension intersects channel support on Tuesday. The implications regarding the channel are the same for the GBPUSD as for the EURUSD (a break under would be a 'tell' that a 3rd wave is underway). Early week resistance is 15900.

Prepared by Jamie Saettele, CMT

AUDUSD - Thursday's advance failed just before 10464 and at the underside of former trendline support and channel resistance. 10145-10386 is the opening range for the year (first 2 weeks) and a break of the early year range would open up the floodgates towards 9860 and 9660. Early week resistance is 10400.

Prepared by Jamie Saettele, CMT

NZDUSD - A 3 wave (corrective) advance is probably complete at Friday's high. Look lower towards the March low at 8060. A drop below would shift focus to resistance from December at 7878. Early week resistance is 8250.

Prepared by Jamie Saettele, CMT

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter @JamieSaettele

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