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
Bearish
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
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
GBP/USD
Mixed
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
  • AUD/USD has had the most impressive show of trend over the past couple of months with the pair gaining almost 1500 pips from the March low. Get your $AUDUSD technical analysis from @JStanleyFX here: https://t.co/vLz4Rpln3u https://t.co/AOwnJja5V8
  • Has the #Euro been saved? Find out from @CVecchioFX here: https://t.co/eiXfOTyGa6 https://t.co/AyRiYpb4cN
  • U.S. Market Analyst at https://t.co/JsVsSmefgR, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEbwiy https://t.co/ygwjGNvS61
  • The $USD, Euro, British Pound and Australian Dollar will all be at the mercy of political developments in Asia, Europe and North America this week. An avalanche of PMI data will set the backdrop. Find out from @ZabelinDimitri here: https://t.co/L8cfAgVx94 https://t.co/THWhPAS6AM
  • The price of #gold plunged 1% immediately after the stunning US jobs report crossed the wires. Get your market update from @RichDvorakFX here: https://t.co/8i0L6YIqjy https://t.co/y9dIXazJf9
  • S&P 500, Dow Jones, Nasdaq explode higher with stocks surging in response to shockingly better-than-expected monthly jobs data. Get your #equities market update from @RichDvorakFX here: https://t.co/nuMVWOzzuC https://t.co/M3nGBjd7kZ
  • The record-breaking NFPs increase behind us and the FOMC rate decision on Wednesday sets the tone for my trading video: 'Dow Soars Above 200-Day Average on NFPs, Will the #Fed Keep the Dollar Sliding' https://www.dailyfx.com/forex/video/daily_news_report/2020/06/06/Dow-Soars-Above-200-Day-Average-on-NFPs-Will-the-Fed-Keep-the-Dollar-Sliding.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/kquvec5HVc
  • Seasonal factors, oversupply issues and the outbreak of COVID-19 has seen the price of liquefied #naturalgas (LNG) fall to 22-year lows (1.519), with the situation exacerbated by ‘fuller-than-normal’ storage facilities. Get your market update here:https://t.co/VOqfkBQ4aR https://t.co/OsaphmqEmu
  • Are recent gains in the Indian Rupee and Nifty 50 warranted? Risks are brewing in the background, leaving USD/INR in a consolidative setting as the Nifty pressures resistance. Get your $USDINR market update from @ddubrovskyFX here:https://t.co/svDaSdprvN https://t.co/kgddX1ZHe4
  • I approve of this dry humor. https://t.co/b42GmIZDlL
Price & Time: What Now For the Euro?

Price & Time: What Now For the Euro?

2013-12-16 13:00:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

  • Important cycle turn window seen around the end of the year in EUR/USD
  • USD/JPY comes off multi-year high
  • GBP/USD nearing key support level

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

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

Foreign Exchange Price & Time at a Glance:

Price & Time Analysis: USD/JPY

PT_Dec_16_body_Picture_3.png, Price & Time: What Now For the Euro?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY moved above 104.00 last week to trade at its highest level since 2008
  • Our near-term trend bias is positive on the rate while above 101.65
  • Interim resistance is seen around 104.00 ahead of the next key attraction near the 104.55 100% extension of the September/October decline
  • A medium-term cycle turn window late last week could see the rate come under some pressure if 104.00 cannot be overcome soon
  • Only a daily close below 101.65 would turn us negative on USD/JPY

USD/JPY Strategy: Favor the long side while over 101.65

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

*101.65

102.10

103.05

104.00

*104.55

Price & Time Analysis: GBP/USD

PT_Dec_16_body_Picture_2.png, Price & Time: What Now For the Euro?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • GBP/USD traded last week to its highest level since 2011 before reversing
  • Our near-term trend bias remains higher in Cable while over the 1.6210 2nd square root relationship of the year’s high
  • The 1.6460 area is interim resistance ahead of a key Fibonacci/Gann convergence at 1.6500
  • A minor cycle turn window is seen around the middle of the week
  • A daily close under 1.6210 would turn us negative on the Pound

GBP/USD Strategy: Favor the long side while over 1.6210

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

GBP/USD

*1.6210

1.6250

1.6340

1.6380

*1.6460

Focus Chart of the Day: EUR/USD

PT_Dec_16_body_Picture_1.png, Price & Time: What Now For the Euro?

Looking at exchange rates this morning it seems little has changed in the week I have been absent. Perhaps the most notable price action from a cyclical perspective has been in EUR/USD as the rate blew through an important cycle turn window around the start of the month. In many ways this strength in the single currency is not all that surprising as December has a seasonal tendency to be one of the stronger months in the rate. That said, January has a tendency to be one of the worse. With important longer-term Pi and Fibonacci cyclical relationships converging in about two weeks and sentiment approaching contrarian extremes (DSI at 85% bulls as of Friday) I believe the Euro is setting up for an important top of sorts around the end of the year. Given the proximity of the October higher, it is likely to materialize from above 1.3830 with 1.3880 and 1.3990 the next key resistance zones of note.

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

News & Analysis at your fingertips.