News & Analysis at your fingertips.

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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Oil - US Crude
Wall Street
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
  • The Australian Dollar may extend its slide lower despite the planned easing of Covid-19 restrictions, as the market continues to price in an RBA rate cut on October 6. Get your #currencies update from @DanielGMoss here:
  • The Indian Rupee may be at risk to the US Dollar as USD/INR attempts to refocus to the upside. This is as the Nifty 50, India’s benchmark stock index, could fall further. Get your USD/INR market update here:
  • Technical indicators are chart analysis tools that can help traders better understand and act on price movement. Learn more about the importance of technical analysis here:
  • #Gold prices have plunged nearly 11% off the record highs with a breakout risking further losses. Here are technical trade levels that matter on the XAU/USD weekly chart. Get your #metals update from @MBForex here:
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true.Simplify your trading strategy with these four indicators here:
  • GBP turbulence persists as investors eye the next round of EU-UK Brexit negotiations. Cautious optimism signals a deal is near. Get your #currencies update from @JMcQueenFX here:
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here:
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here:
Price & Time: Key Couple of Days for the Euro

Price & Time: Key Couple of Days for the Euro

2013-06-11 11:34:00
Kristian Kerr, Sr. Currency Strategist

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.

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

Foreign Exchange Price & Time at a Glance:


PT_Key_couple_body_Picture_4.png, Price & Time: Key Couple of Days for the Euro

Charts Created using Marketscope – Prepared by Kristian Kerr

-USD/JPY found support late last week just ahead of the 78.6% retracement of the April to May advance at 94.95

-Subsequent strength through the 2nd square root progression of the month-to-date low at 96.90 shifted our bias to positive in the rate

-Has since failed at the 61.8% retracement of the April to May advance (polarity) in the 99.30 area and a move through this level is now needed to signal a broader upside resumption

-A medium-term cycle turn window is seen around the end of the week, short-term counts seem to favor weakness until then

-The 1x2 Gann angle line from the 3Q12 low at 96.40 is immediate support, but only a close below 94.95 turns us negative on USD/JPY

Strategy: Cycles favor weakness for a few more days. Like buying into this weakness later in the week.


PT_Key_couple_body_Picture_3.png, Price & Time: Key Couple of Days for the Euro

Charts Created using Marketscope – Prepared by Kristian Kerr

-GBP/USD is in consolidation mode after spiking higher last week to test the 7th square root progression of the year-to-date low in the 1.5670 area

-While over 1.5425 our bias remains higher in Cable

-The 1.5670 to 1.5720 area is a serious resistance zone and clear traction above this area is required to signal the start of a more important move higher in the pound

-Some minor turn windows are seen over the next few days, but a broader cyclical pivot point is spied next week

-The 1x1 Gann angle line of the year-to-date low near 1.5500 is immediate support, but only weakness below the 2nd square root progression of the last week’s high at 1.5425 turns us negative

Strategy: Longs favored while Cable is over 1.5425.


PT_Key_couple_body_Picture_2.png, Price & Time: Key Couple of Days for the Euro

Charts Created using Marketscope – Prepared by Kristian Kerr

-AUD/USD broke below the .9360 161.8% extension of the March to April advance on Tuesday to trade to its lowest level since September of 2010

-Our bias remains lower in the Aussie, but caution is required over the next few days as the exchange rate nears a potential price & time square out point

-The 12th square root progression of the year-to-date high at .9295 and the 61.8% retracement of the 2010 to 2011 advance at .9215 look like critical support levels

-The 1x2 Gann angle line of the year-to-date closing high at .9510 is immediate resistance, but only strength over .9575 suggests the start of a more important upside correction

Strategy: Like short positions while under .9575, but only in small size. Need to be ready mentally to cover and go long around the turn window, but only when price action warrants it.

Focus Chart of the Day: EUR/USD

PT_Key_couple_body_Picture_1.png, Price & Time: Key Couple of Days for the Euro

The Euro is at an interesting short-term cyclical crossroads here. A few of our short-term cyclical methods suggest the exchange rate should try to put in a peak of some sort over the next day or two. However, some of our broader measures clearly suggest the current uptrend should extend into next week before a change in trend of some importance is seen. How EUR/USD reacts at the 1.3315 5th square root progression of the year-to-date low will likely be the tell of which cyclical forces are really influencing. A close over 1.3315 sets up a further push into next week, while a test and failure at this Gann resistance level indicates a more immediate peak.

--- Written by Kristian Kerr, Senior Currency Strategist for

Looking for a way to pinpoint sentiment extremes in the Euro in real time? Try the Speculative Sentiment Index.

To contact Kristian, e-mail Follow me on Twitter @KKerrFX

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