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. See our updated Privacy Policy here.

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
More View more
Real Time News
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/LcfxFxFrTY
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/rJznrXkcYz https://t.co/UgYlEILK5n
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here: https://t.co/eILWbFgHRE https://t.co/BXp2z6E0Kl
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/xGuTYZqYwh
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/reRmDe1Ksp https://t.co/EvRHfRQLgk
  • The Australian Dollar remains vulnerable in the week ahead, eyeing risks such as a dovish RBA, surging Covid cases and recent crackdowns by Beijing. Might US NFPs offer some relief to AUD/USD? Get your weekly AUD forecast from @ddubrovskyFX here: https://t.co/LQzQymM3ND https://t.co/XOCJl3vbu1
  • $AUDNZD closed at its lowest since December 2020 Prices pierced the 1.0541 - 1.0564 support zone, exposing the November low at 1.0418 A confirmatory downside close under support next week may open the door to further losses #AUD #RBA https://t.co/mybbgPHNX4
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/k49UosZOUR
  • The US Dollar seems to be losing its momentum against ASEAN currencies as of late. Could this be another top in USD/SGD, USD/THB, USD/PHP and USD/IDR? Find out from @ddubrovskyFX here:https://t.co/rVBKBuhhAb https://t.co/lTT6oelIEc
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/JTw3w7KYXP
Weekly Price & Time: Euro Breaks 1.3800 - Now What?

Weekly Price & Time: Euro Breaks 1.3800 - Now What?

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • Euro closing in on major resistance zone
  • USD/JPY nearing a range break
  • Gold rebounds gathers pace

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

Weekly Foreign Exchange Price & Time at a Glance:

Weekly Price & Time Analysis: EUR/USD

WPT_eur_body_Picture_3.png, Weekly Price & Time: Euro Breaks 1.3800 - Now What?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD traded to its highest level since November of 2011 this week
  • The broader trend bias is higher in the Euro while above important Gann support at 1.3540
  • The 61.8% retracement of the 2011 to 2012 at 1.3830 is an important resistance as is the top of the 1-year standard deviation channel at 1.3880
  • The middle of November and the first half of December look significant for the Euro from a longer-term cyclical perspective
  • Weakness below 1.3540 would turn the broader outlook negative

Weekly EUR/USD Strategy: Looking to initiate tactical long positions in the Euro.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

*1.3540

1.3655

1.3795

*1.3830

*1.3880

Weekly Price & Time Analysis: USD/JPY

WPT_eur_body_Picture_2.png, Weekly Price & Time: Euro Breaks 1.3800 - Now What?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY continues to trade near the middle of a multi-month contracting range
  • While below 98.60 on a weekly close basis our broader trend bias remains lower
  • The 7th square root progression of the year’s high at 96.60 remains a critical support level with weakness below needed to trigger a more impulsive decline
  • A fibonaci time relationship suggests the next few days could see a break of the multi-month range
  • A move back through 98.60 is needed to signal that a more important move higher is unfolding

Weekly USD/JPY Strategy: Square here, but will sell a break of 96.60.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

95.60

*96.60

97.35

97.55

*98.60

Weekly Price & Time Analysis: GOLD

WPT_eur_body_Picture_1.png, Weekly Price & Time: Euro Breaks 1.3800 - Now What?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • XAU/USD has moved steadily higher from last week’s cycle turn window
  • A weekly close over 1322 will turn us positive on the metal
  • Gann resistance at 1375 is the next major hurdle on the upside with a move above needed to prolong the move higher
  • A cycle turn window is seen around the first half of next month
  • A move under the 1x1 Gann angle line of the year’s closing low now at 1270 would suggest a more important decline is unfolding

Weekly XAU/USD Strategy: Square here, but looking to initiatiate tactical gold longs on weakness.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

XAU/USD

*1270

1317

1345

1357

*1375

--- 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 the Gold 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