Video

Kim Cramer Larsson
Areas covered in this webinar by Saxo Bank technical analyst Kim Cramer Larsson include EURUSD, USDJPY, GBPUSD, EURGBP, gold, silver, S&P 500, the Nasdaq, the Dax, the FTSE and the Dow Jones.
Short term
/
Sell
Trade view / 23 June 2017 at 6:32 GMT

A mild bearish bias remains in EURUSD

Analyst / PIA First
United Kingdom
Instrument: EURUSD
Price target: 1.1055
Market price: 1.1168
Background
Nasty price action this week and it is all down to the US dollar. Looking at the calendar today we see numerous lower tier releases that will probably result in ongoing intraday volatility. 

USD Index Daily – We have posted little net change for four days in a row now as we correct higher in the 4th wave (of a bearish Elliott wave pattern). The long-term outlook is bearish 
USD D
Source: Saxo Bank

USD Index Intraday (two-hours) – The intraday chart highlights this mixed price action and trying to pick the next leg is no easy task! We should push higher in part of the CD leg. With this in mind, we have a cautious approach to buying the USD today 
USD 2
Source: Saxo Bank 

EURUSD Weekly – Broken out of the wedge formation to the upside. The measured move target line of 1.1615 lines up with the 261.8% extension at 1.1626 (from 1.0348-1.0836) and keep the medium-term picture focused on higher levels (long-term bullish)
EURUSD w
Source: Saxo Bank

EURUSD Daily – Bullish price action stalled close to 1.1250, an area that attracted sellers in September and October of 2016. We are assessed as being within the 4th wave correction lower. A prime area for this pattern to complete is between the 23.6 and 38.2% pullback level (1.1105-1.0988) 
EURUSD D
Source: Saxo Bank 

EURUSD Intraday (two-hours) – Highlights the pair in this choppy correction lower. A full AB=CD formation would take the pair to 1.1055. This last move higher (from June 20) is anything but impulsive as we do not believe this to be the start of the next major bullish wave (June 5). With this in mind, and with caution, we look to sell into rallies for the last leg lower today. 
EURUSD 2
 Source: Saxo Bank

Management and risk description

Parameters

Entry: We are looking for an intraday 'double top' and selling at 1.1176

Stop: 1.1206 (this is above the corrective channel formation - last chart)

Target: 1.1055

Time horizon: today to trigger. 2-4 sessions for the target 

— Edited by Clemens Bomsdorf

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here
2y
h.alfayyad h.alfayyad
This comment has been redacted
2y
h.alfayyad h.alfayyad
Good luck lan, good luck all
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
just clipping the channel top so needs to hold
2y
h.alfayyad h.alfayyad
Will we see it back down lan?
2y
h.alfayyad h.alfayyad
Thanks a lot boss
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
I think EURJPY could also take a move lower from here.... 124.16-10 is support so would only recommend selling an intraday bounce after that
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
lowering stop 1.1190
2y
Alaattin Can Alaattin Can
I am in too. Good luck everyone.
2y
h.alfayyad h.alfayyad
Shall we keep stop at 1.1190? Only 3 pips ayay lan?
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
good point
going to move back to the original... only as DeMark has posted a 13 exhaustion
2y
h.alfayyad h.alfayyad
Thanks boss
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
I am out -15 pips
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
and finished for the week ..... have a great weekend ... suggested stop for Demark is 1.1210 and I don't want it
2y
h.alfayyad h.alfayyad
Have a gteat weekend
2y
Alaattin Can Alaattin Can
Thanks Ian, Have a good holiday.
2y
sutiani sutiani
Good day..Stop: 1.1206 (this is above the corrective channel formation - last chart)..stop loss done or still open sold?thank you
2y
sutiani sutiani
stp done 1.1210? pls inform..tks

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