jsaettele

jsaettele

There is a lot to like from a technical perspective regarding copper. Price carved a doji on Friday and price has reacted to a level defined by VWAP from the March 2020 low and former resistance (January 2021 high). Also, the decline from March consists of 2 equal legs. I'm thinking higher as long as last week's low holds. The May low at 4.0370 is a soft...

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The Nasdaq composite index did tag the 200 week average last week. This technical measure has proven itself as a trend filter and decent support throughout the history of the index. The measure was even support for several squeezes in 2008 before the shoe dropped in September of that year. Seasonal tendencies are also positive into mid-July. -Jamie Saettele

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DIA has been the ‘tell’ so far in 2022. Recall that 295 was marked as a big number and Friday’s low was 296.39. Close enough! Friday’s low was right on the channel line and a hair above the 200 week average (thick red line). After today’s strong action, my view is that the long side is viable until further notice. -Jamie Saettele

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SPY faces resistance from VWAP from the 2020 low. This was recent support which makes it a candidate for resistance now. Basically, 385-387 could cap gains before a final drop into 350-360 and THEN we get a 'tradable' low. Bottom line, pay attention to that anchored VWAP line. It's considered resistance until we're above the line.

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DXY is reacting to the same parallel that nailed the May high. These parallels are based on the trendline from the May 2021 low. Notice how the top side of channel resistance was support at the end of May. Confidence in these parallels as pivots is high. I am looking lower.

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BTCUSD is approaching the 2017 high at 19666. Expect a bounce from this level but BTCUSD is below the median line (red line), which means that price is in a very dangerous position. The underside of the median line is now proposed resistance near 23300.

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KSA (Saudi Arabia) has broken beneath the channel from the 2020 low. The underside of the channel has acted as resistance the last few days. If you're unaware, the Saudis are the financial backing for the new LIV golf tour. Exorbitant amounts of money are being offered in order to attract players to the new tour. It stands to reason that the Saudis wouldn't be...

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NZDUSD has reacted to the 20 day average and VWAP from the low. Today's low is also near a well-defined horizontal level defined by congestion from early May, the 5/19 high, and 5/25 low. The pullback from Friday's high is relatively shallow but I'm constructive as long as price is above today's high. -Jamie Saettele

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EURUSD is stalling at the median line from the fork that originates at the 2021 high. This line has been support and resistance for an extended period of time so expect a pullback from the current level. 1.0600 is proposed support.

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I talked about this in The Trading Battle a few days ago. The DXY high occurred right at the channel extension of the channel from the May 2021 low. The upper parallel of that channel, formerly resistance, has provided support this week. Former resistance providing support...it happens with channels/trendlines/etc. as well as horizontal levels. Anyway, this is...

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This is a big spot for AUDUSD. .7260s is the 200 day average, year open, and May high. I'm positive Aussie on a longer term basis but this is the biggest test since the low so beware of a pause in the broader advance. -Jamie Saettele

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5/31 - 4270 remains in focus for SPX as ‘ideal’ resistance before I’d want to take a shot at identifying the end of the ‘short squeeze’. Watch for support near 4076. 5/23 – As noted, evidence for a low in the S&P is strong. Friday’s low is at the line that crosses the January and February lows and the LONG TERM parallel (see below chart). Also, VWAP from the...

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NQ held the top side of the line that originates at the November 2014 high.  This line crosses highs in 2018 and 2020, and lows  in 2020.  It was also support on 2/24.  I'm 'thinking' that price attempts a recovery back into 15000+.  There's a lot up there for resistance, including the underside of former channel support, the 200 day average, and the 61.8%...

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This is a good spot for a low in EURUSD. -Jamie Saettele

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I am bullish EURUSD at these levels - Jamie Saettele

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3800 is critical for ETHUSD. If that gives then we've got a trendline break following a failed breakout amid euphoria regarding crypto in general. Bottom line, 3800 is the pivot -Jamie Saettele

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jsaettele

Jamie brings more than 16 years of experience in analyzing and trading on the foreign exchange markets. Join the stream and get exclusive insights.

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jsaettele

Jamie brings more than 16 years of experience in analyzing and trading on the foreign exchange markets. Join the stream and get exclusive insights.