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.
Day trade
Trade view / 27 October 2016 at 7:44 GMT

Scope for a mild rally to sell into in EURUSD

Analyst / PIA First
United Kingdom
Instrument: EURUSD
Price target:
Market price:

USD Index – Daily chart highlights spikes in both direction (indecision) as we hold close to the 99.00 level. We have US durable goods this afternoon so could see some directional bias in the US dollar. The medium-term outlook remains firmly bullish so we only look to buy into dips (or breaks).
USD Index
Source: Saxo Bank  

I have just updated the charts on the AUDUSD and USDCAD trade view. We could see some mild USD corrections from wedge support (AUDUSD) and the 161.8% extension at 1.3411 (USDCAD). 

Going to look at EURUSD and the prime level to sell into rallies. 


Monthly – We have had a long and hard eighteen months of consolidation. The bias is still bearish with May posting an Outside Month. Long-term target is on parity (1.0000 – Fibonacci confluence area) and 0.9490 (channel base).
Source: Saxo Bank 

Weekly – Holds within a triangle formation that has a bias to break lower. Nothing to indicate the selloff is coming to an end. 
Source: Saxo Bank  

Daily – For the last four day’s spikes can be seen in both directions we are assessed to be in the 5th wave lower (Elliott Wave). This can be the hardest of the waves to predict. 
Source: Saxo Bank  

Intraday (one hour) – Rejected gains close to the 50% pullback level of 1.0946. However, with other USD pairs (AUDUSD and USDCAD) highlighting scope for a dollar correction, there is scope for buying this morning. We have bespoke resistance at 1.0948-62 and this is our zone to get short. With a stop above 1.0990, this offer a good medium-term bear play. 
Source: Saxo Bank  

Management and risk description


Entry: selling at the 1.0948-62 zone

Stop: above 1.0990

Target: 1.0826 (1-2 sessions) 1.0660 (2-3 weeks)

— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more
Rofhiwa Thomoli Rofhiwa Thomoli
Ian , Great potential to sell AUDCAD at current resistance levels. It comes with good rewards for medium term and intra-day
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
will take a look ... thanks vvv much. Not one I normally focus on
ValeriyKZ ValeriyKZ
Ian, USDSEK is updating tops for last six years, how you think its already for short?
Rofhiwa Thomoli Rofhiwa Thomoli
Ian, AUDCAD is now on Profit if you're on the position. It completed 38% Fibonacci retracement. I'm jumping off.
Andrew Perkins Andrew Perkins
Hi Ian just got back home closed most of trade last night with limited internet and trades worth getting into with a little trading time left
AlexF AlexF
Lets see Googl,Bidu,Amazon, FSLR all reporting now, Im long all of them but with a huge short on nasdaq which is in the money nicely
AlexF AlexF
amazon huge miss


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail