FX Breakout Monitor – September 26 2019

Forex 3 minutes to read

John Hardy

Head of FX Strategy

Summary:  The FX Breakout Monitor registered a new breakout to the downside for EURUSD and EURCAD for the cycle. Elsewhere, we are close to breakouts in opposite directions for the USD in USDTRY (to the downside) and USDTHB (to the upside).


The FX Breakout Monitor is back, and it is expanded with "autosignals" that show examples of how to trade new breakouts, defined as new 19-day high or low closes not preceded by a breakout in the same direction in the prior week. Click on the link below for a look at the full PDF of the table overview and the Recent New Breakouts tables. See further below for a couple of chart highlights related to today's monitor.

Today’s Breakout Highlight: EURUSD
EURUSD registered a new low close for the cycle yesterday – the higher dotted line shows the last time a new break lower was registered, which resulted in little follow-through – a theme that has plagued the pair for the better part of a year.

Source: Saxo Bank

Saxo Bank A/S - Representative Office
Boulevard Plaza - Tower 1
30th floor, office 3002
Dubai Downtown, Burj Khalifa area
Dubai
UAE

UAE

Trade responsibly
All trading carries risk. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

Saxo Bank A/S is licensed by the Danish Financial Supervisory Authority and operates in the UAE under a representative office license issued by the Central bank of the UAE.

The content and material made available on this website and the linked sites are provided by Saxo Bank A/S. It is the sole responsibility of the recipient to ascertain the terms of and comply with any local laws or regulation to which they are subject.

The UAE Representative Office of Saxo Bank A/S markets the Saxo Bank A/S trading platform and the products offered by Saxo Bank A/S.