We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • $EURUSD Daily Pivot Points: S3: 1.1022 S2: 1.1075 S1: 1.1104 R1: 1.1157 R2: 1.1182 R3: 1.1236 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Among the risk-leaning assets I usually follow, the Yen crosses are proving to be one of the most impressive categories for pace. The $EURJPY stepped on the gas today https://t.co/BYW7vQ7O2G
  • We may see more near-term US #Dollar weakness after my majors-based #USD index (averages it vs #EUR, #JPY, #GBP, #AUD) broke and confirmed the descent through key resistance (1.3213 - 1.3260) as the Greenback faces what may be its cheapest average price since early March https://t.co/pW0cfnc7uS
  • USD/JPY has been a mystery as it has moved basically nowhere of recent despite other USD pairs making sizable moves. Get your $USDJPY technical analysis from @PaulRobinsonFX here: https://t.co/zMLMseWHCi https://t.co/j8azqjhtTL
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 1.47% 🇳🇿NZD: 1.25% 🇬🇧GBP: 0.48% 🇪🇺EUR: 0.30% 🇨🇭CHF: -0.17% 🇯🇵JPY: -1.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/BxRolsnex3
  • Talk about a disconnect between Main Street and Wall Street. Seems like markets are pricing in an expectation of a V-shaped recovery. Wonder when reality will hit 🤔 https://t.co/Y8woCzT8kN
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.29% Gold: -0.73% Silver: -1.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/rsa9fXyvQe
  • $USDJPY Daily Pivot Points: S3: 106.83 S2: 107.22 S1: 107.44 R1: 107.82 R2: 107.99 R3: 108.37 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • The #Dow Jones, #Nasdaq and S&P 500 have continued to melt higher in recent days even as bullish catalysts seem to sputter out. Get your #equities market update from @PeterHanksFX here:https://t.co/wXSP3avXh1 https://t.co/Zpnzxf9vj8
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.98%, while traders in US 500 are at opposite extremes with 73.85%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/CxeodwV5yt
Price & Time: Key Price Points on the Horizon

Price & Time: Key Price Points on the Horizon

2013-02-20 18:23:00
Kristian Kerr, Sr. Currency Strategist
Share:

This publication attempts to further explore the concept that mass movements of human psychology, as represented by the financial markets, are subject to the mathematical laws of nature and through the use of various geometric, arithmetic, statistical and cyclical techniques a better understanding of markets and their corresponding movements can be achieved.

Foreign Exchange Price & Time at a Glance:

GBP/USD:

PT_Price_Point_body_Picture_4.png, Price & Time: Key Price Points on the Horizon

Charts Created using Marketscope – Prepared by Kristian Kerr

-Cable failed at the 1x8 Gann line from the 2007 high in early January and the decline that has followed remains in full force

- Aggressive weakness through a key Fibonacci cluster in the 1.5500 area over the past few days keeps focus immediately lower

- The 50% retracement of the 2009 range at 1.5250 now a key support level and the next key inflection point

- Cyclical turn window last week failed to elicit any sort of meaningful upside response and this is further evidence that the current downtrend is gaining strength

- Next minor turn window not seen until early next week

Strategy: Stay short with stops above 1.5405, but only over 1.5510 warns of a broader reversal.

AUD/USD:

PT_Price_Point_body_Picture_3.png, Price & Time: Key Price Points on the Horizon

Charts Created using Marketscope – Prepared by Kristian Kerr

- AUD/USD upside attempts continue to fail at the 38% retracement of the year-to-date range and this keeps our bias lower

- A 1x1 Gann angle drawn from the low close in 2012 now in the 1.0270-80 area is immediate support

- However, a close below the 38% Fibonacci retracement of the late 2012 advance near 1.0230 is required to prompt a more meaningful move lower

- Shorter-term focused cyclical techniques are positive over the next couple of days

- Only over 1.0370 during this time signals that a broader upmove is developing

Strategy: We like holding short postions in the Aussie while under 1.0370.

USD/CAD:

PT_Price_Point_body_Picture_2.png, Price & Time: Key Price Points on the Horizon

Charts Created using Marketscope – Prepared by Kristian Kerr

- USD/CAD convincingly broke above the 1x4 Gann line from the 2012 high early this week

- Subsequent strength has seen the 61.8% retracement of last year’s range easily overcome and focus is now higher

- Resistance now being found in the 1.0170 area which is a Fibonacci convergence of the 38% retracement of the 2011 range and the 161.8% extension of the early February move lower

- This level is likely a key near-term pivot with strength above required to trigger a move towards the next Fib zone near 1.0240

-Minor cyclical turn window seen around the end of the week

-Convergence of the aforementioned Gann line and a pitchfork line connecting January and February lows near 1.0085 now critical support

Strategy: Maintain long positions in Funds while the exchange rate is over 1.0085.

Focus Chart of the Day: USD/MXN

PT_Price_Point_body_Picture_1.png, Price & Time: Key Price Points on the Horizon

The Pi cycle related reversal we have been writing about looks to be playing out in the Kiwi. Further weakness below the .8345 second square root progression from last week’s high in the next few days will be more evidence that a move lower of greater magnitude is materializing. USD/MXN, on the other hand, has been less cooperative as the pair continues to meander in a pretty tight range. This is somewhat surprising given the extreme positioning in the Peso, though the lack of any real direction heading into the turn window does not help matters. We will give it a few more days before throwing in the towel on the notion of a dollar move higher, but strength over 12.8100 and probably 12.9000 is really needed. Should new lows be seen after the conclusion of this cyclical turn window then it will be a strong signal that the downtrend in USD/MXN still has more to go.

--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com

To receive other reports from this author via e-mail, sign up to Kristian’s e-mail distribution list via this link.

New to forex? Sign up for our DailyFX Forex Education Series

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.