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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
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
Oil - US Crude
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
Wall Street
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The US Dollar recovery has stalled at resistance and the immediate focus is on this pullback as the index approaches near-term uptrend support. Get your $USD technical analysis from @MBForex here:https://t.co/lg6pFomGNb https://t.co/tThOOyx8qY
  • #Bitcoin rebounding sharply, now up 8.8% today $BTC $USD https://t.co/UVAQTXGoec
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.04% Gold: -0.69% Silver: -1.67% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/FXJUOOmjE5
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Wall Street are at opposite extremes with 66.20%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/FcTW4GHbzZ
  • US 10yr Treasury yields have slipped back below 1.10 today, but remain notably higher compared to earlier in the pandemic $USD $IEF https://t.co/PYLCZGwPHt
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.31% France 40: 0.30% Germany 30: 0.23% US 500: -0.25% Wall Street: -0.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/079WIJ3r9O
  • $EURJPY had been heading higher today, crossing above 126.20 and hitting its highest levels since last week. $EUR $JPY https://t.co/bKsWiKxRmz
  • USD/CAD trending lower has been a theme since it peaked in dramatic fashion back in March, but the downtrend may be put to the test soon as a falling wedge pattern comes to light. Get your $USDCAD market update from @PaulRobinsonFX here:https://t.co/qjobL4Uyq9 https://t.co/wgd9nZSGpj
  • US Indices remain in the red but have pared some losses as session advances into the afternoon. DOW -0.38% NDX -0.13% SPX -0.24% RUT -0.03% $DOW $QQQ $SPY $IWM
  • A bout of risk aversion sees the Australian Dollar under pressure this morning with a larger than expected drop in retail sales adding to the soft tone for the currency. Get your $AUD market update from @JMcQueenFX here:https://t.co/fCa9gCxxxk https://t.co/WaAG58Ztar
Price & Time: Cyclical Curveball in the Kiwi

Price & Time: Cyclical Curveball in the Kiwi

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • Kiwi enters into medium-term cycle turn window
  • USD/JPY remains in consolidation mode
  • GBP/USD pulls back from key Fibo

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

Focus Chart of the Day: NZD/USD

PT_Kiwi_body_Picture_4.png, Price & Time: Cyclical Curveball in the Kiwi

The next couple of days are a clear medium-term cycle turn window in NZD/USD. Given the impressive 6 big figure plus rally in the Kiwi this month we had expected the window to lead to a top and indeed it may have. However, Tuesday’s early weakness has thrown us a bit of a curveball as there is now a chance the exchange rate peaked early or may even record a low. The 2nd square root progression of the recent high at .8250 is important in this regard as a close under this level would be clear evidence of an early change in trend.

Foreign Exchange Price & Time at a Glance:

Price & Time Analysis: USD/JPY

PT_Kiwi_body_Picture_3.png, Price & Time: Cyclical Curveball in the Kiwi

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY is in consolidation mode just above the 1x1 Gann angle line of the year’s high in the 98.70 area
  • While above the 1x1 Gann angle line of the February low at 97.80 our near-term trend bias will remain higher
  • The 4th square root progression of the year’s high at 99.65 is a clear near-term pivot with traction above needed to set up a push to attractions at 100.70 and above
  • A very minor cycle turn window is seen later this week
  • Weakness below 98.70 would dampen the positive tone, but only a move under 97.80 on a closing basis would turn us negative on the exchange rate

USD/JPY Strategy: Like the long side while over 97.80.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

*97.80

98.70

98.80

99.00

*99.65

Price & Time Analysis: GBP/USD

PT_Kiwi_body_Picture_2.png, Price & Time: Cyclical Curveball in the Kiwi

Charts Created using Marketscope – Prepared by Kristian Kerr

  • GBP/USD failed last week near the 88.6% retracement of the year’s range near 1.6165.
  • While above a key Gann confluence near 1.5895 our near-term trend bias will remain higher in Cable
  • While the 1.6090 area is resistance, strength over 1.6165 is really neeeded to signal a resumption of the broader uptrend
  • The middle of the week is a possible minor cycle turn window
  • A daily close below 1.5895 would undermine the positive tone in the rate and turn us negative

GBP/USD Strategy: Like the long side whilst over 1.5895.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

GBP/USD

*1.5895

1.5960

1.5980

1.6090

*1.6165

Price & Time Analysis: S&P 500

PT_Kiwi_body_Picture_1.png, Price & Time: Cyclical Curveball in the Kiwi

Charts Created using Marketscope – Prepared by Kristian Kerr

  • S&P 500 failed last week during a medium-term cycle turn window at a key Fibonacci projection level at 1735
  • However, the close over 1710 has shifted our trend bias higher and while above 1675 it will remain positive
  • The 1635 projection level is a natural upside pivot with traction above needed to signal a trend continuation
  • A minor cycle turn window is seen over the second half of the week
  • A daily close below 1675 would suggest a more important reversal has occurred in the S&P 500

S&P 500 Strategy: Like buying into weakness over the next couple of days.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

S&P 500

*1675

1690

1699

1710

*1735

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

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

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

To contact Kristian, e-mail instructor@dailyfx.com. Follow me on Twitter @KKerrFX

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

DISCLOSURES