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
Mixed
Oil - US Crude
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
Wall Street
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Gold Prices Pause Rally as India's Covid Infections Surge, US Jobless Claims Fall https://www.dailyfx.com/forex/market_alert/2021/04/23/Gold-Prices-Pause-Rally-as-Indias-Covid-Infections-Surge-US-Jobless-Claims-Fall.html https://t.co/9RirRjOekY
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.68%, while traders in Germany 30 are at opposite extremes with 70.03%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/vbeOzxRu74
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.31% 🇨🇦CAD: 0.25% 🇬🇧GBP: 0.16% 🇪🇺EUR: 0.06% 🇯🇵JPY: 0.03% 🇨🇭CHF: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/zGpPWjlcZp
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: US 500: 0.20% Wall Street: 0.13% France 40: -0.18% FTSE 100: -0.36% Germany 30: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/lm4CTJGA11
  • 🇹🇭 Balance of Trade (MAR) Actual: $0.71B Expected: $0.6B Previous: $0.01B https://www.dailyfx.com/economic-calendar#2021-04-23
  • RT @FxWestwater: #Bitcoin Sinks as US Capital Gains Tax Proposal Injects Fear Into Crypto Market Link: https://www.dailyfx.com/forex/market_alert/2021/04/23/Bitcoin-Sinks-May-Fall-Further-as-Tax-Fears-Spook-Crypto-Market.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr $BTCUSD htt…
  • Heads Up:🇹🇭 Balance of Trade (MAR) due at 03:30 GMT (15min) Expected: $0.6B Previous: $7.25B https://www.dailyfx.com/economic-calendar#2021-04-23
  • As expected when I wrote about crypto a week ago after multiple bearish warning signs emerged (Doji and RSI divergence). #BITCOIN now looking to follow the bearish implications of a Rising Wedge #BTC $BTCUSD - https://www.dailyfx.com/forex/technical/article/special_report/2021/04/15/Bitcoin-BTC-Litecoin-LTC-Ethereum-ETH-Analysis-Is-Momentum-Fading.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/JWnF8M1R73
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.63% Gold: 0.22% Silver: 0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/JYjpeVZCY2
  • Human error in the forex market is common and often leads to familiar trading mistakes. These trading mistakes crop up particularly with novice traders on a regular basis. Learn about the top ten trading mistakes and how you can avoid them here: https://t.co/i8E2AXtzF3 https://t.co/v7ulcLZExv
Price & Time: AUD/USD Correction or Reversal?

Price & Time: AUD/USD Correction or Reversal?

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • EUR/USD testing key resistance
  • USD/CAD touches highest level since July
  • AUD/USD rebounds of key support zone

Looking for real time Forex analysis throughout the day? Try DailyFX on Demand.

Foreign Exchange Price & Time at a Glance:

Price & Time Analysis: EUR/USD

PT_NOV_28_body_Picture_3.png, Price & Time: AUD/USD Correction or Reversal?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD probed above the 2nd square root relationship of the year’s high at 1.3595 on Thursday to trade to its highest level in three weeks
  • A daily close over 1.3595 will shift our near-term trend bias to higher
  • Interim support is seen at 1.3540, but weakness under 1.3475 is really needed to signal that a more important decline is developing
  • The middle of next week is a medium-term cycle turn window
  • A daily close over 1.3595 will shift our near-term trend bias positive

EUR/USD Strategy: Focus on long side opportunities on a close over 1.3595.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

*1.3475

1.3540

1.3590

*1.3595

1.3655

Price & Time Analysis: USD/CAD

PT_NOV_28_body_Picture_2.png, Price & Time: AUD/USD Correction or Reversal?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/CAD closed above the 4th square root relationship of the September low on Wednesday to trade to its highest level since early July
  • Our near-term trend bias is higher in Funds while above 1.0505
  • The 6th square root relationship of the 2Q13 high at 1.0610 is an important upside pivot with traction above exposing the 127% extension of the 2012 range at 1.0665
  • A medium-term cycle turn windown is seen around the 1st half of next week
  • Only a daily close below 1st square root relationship of the year’s high at 1.0505 would turn us negative on USD/CAD

USD/CAD Strategy: Like the long side while over 1.0505

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/CAD

*1.0505

1.0535

1.0575

*1.0610

1.0665

Focus Chart of the Day: AUD/USD

PT_NOV_28_body_Picture_1.png, Price & Time: AUD/USD Correction or Reversal?

AUD/USD has rebounded sharply from just above the key support zone we highlighted on Tuesday. With the .9330 to .9360 area marking a convergence of several key Gann levels including the 7th square root relationship of the October high, the 2x1 Gann angle line of the year’s closing low and the 2nd square root relationship of the year intraday low it is a natural stopping point. Just how important this counter-trend move is will depend on the price action over the next few sessions. If Aussie can gain traction over .9170 on a daily close basis it likely sets up a stronger correction – perhaps back towards the neckline of the Head & Shoulders pattern. A potential hindrance to further upside is the short-term cyclical picture which is not particularly positive on the exchange rate as a minor turn window is seen today. A clear move under .9030 is required to signal that the broader downtrend is resuming.

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

--- 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

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