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
Mixed
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Bullish
GBP/USD
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
USD/JPY
Bearish
More View more
Real Time News
  • #Bitcoin prices may see a pickup in volatility ahead of the 2020 halving as the #coronavirus pandemic threatens to disrupt cross-continental $BTC mining operations. Get your market update from @ZabelinDimitri here: https://t.co/BoH24MVf4P https://t.co/yuEA4wdlS9
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.06% 🇳🇿NZD: -0.05% 🇨🇦CAD: -0.17% 🇨🇭CHF: -0.48% 🇯🇵JPY: -0.61% 🇬🇧GBP: -0.87% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/hOyPH71ZfE
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.85% France 40: 1.47% US 500: 0.46% Wall Street: 0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/UxILaRvSdH
  • 🇨🇭 CHF Retail Sales Real (YoY) (FEB), Actual: 0.3% Expected: N/A Previous: -0.1% https://www.dailyfx.com/economic-calendar#2020-03-31
  • Missed today's #AUDUSD weekly outlook webinar? See the recording here - https://t.co/6k1KCuxr50 Some of the topics discussed were: - #coronavirus economic impact - #Fed #QE as catalyst for AUD rise - scope for renewed #USD gains
  • RT @DailyFXEspanol: Análisis del $XAUUSD: El precio del oro se estanca, ¿qué nos dice el gráfico? #trading #covid19 https://t.co/7x2Zdt0AnA…
  • USD/CAD IG Client Sentiment: Our data shows traders are now net-long USD/CAD for the first time since Jan 22, 2020 when USD/CAD traded near 1.31. A contrarian view of crowd sentiment points to USD/CAD weakness. https://www.dailyfx.com/sentiment https://t.co/KjIkTKOFmC
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia here: https://t.co/r3Ku0p9dw1 https://t.co/JVzLj6lON7
  • European Opening Calls From IG: #FTSE 5558 -0.10% #DAX 9865 +0.50% #CAC 4394 +0.35% #AEX 476 -0.08% #MIB 16974 +0.60% #IBEX 6749 +1.34% #OMX 1457 +0.52% #STOXX 2779 +0.49%
  • Heads Up:🇨🇭 CHF Retail Sales Real (YoY) (FEB) due at 06:30 GMT (15min), Actual: N/A Expected: N/A Previous: -0.1% https://www.dailyfx.com/economic-calendar#2020-03-31
Weekly Price & Time: Euro Threatening Break of Key Support

Weekly Price & Time: Euro Threatening Break of Key Support

2014-01-03 16:35:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

  • EUR/USD reverses from key cycle turn window
  • USD/JPY fails just shy of long-term retracement
  • Gold stages reversal from Fibonacci extension

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

Weekly Foreign Exchange Price & Time at a Glance:

Weekly Price & Time Analysis: EUR/USD

WPT_Jan_3_body_Picture_3.png, Weekly Price & Time: Euro Threatening Break of Key Support

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD extended its decline following last week’s failure at the 61.8% retracement of the 2009/2010 decline
  • A weekly close below 1.3655 will turn us negative on the Euro
  • The 2012 closing high near 1.3800 is now critical resistance with strength above needed to relieve immediate downside pressure
  • The latter half of the month is the next medium-term cycle turn window

Weekly EUR/USD Strategy: Like adding to shorts on a weekly close below 1.3655.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

1.3535

1.3590

1.3605

*1.3800

1.3895

Weekly Price & Time Analysis: USD/JPY

WPT_Jan_3_body_Picture_2.png, Weekly Price & Time: Euro Threatening Break of Key Support

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY failed just shy of the 61.8% retracement of the 2007/2011 at 105.55 this week
  • Our broader trend bias is positive in the exchange rate while above 103.35
  • The 105.55 level remains critical resistance that must be overcome soon if another important leg higher is to unfold
  • A minor cycle turn window is seen next week
  • A weekly close below 103.35 would turn us negative on the exchange rate

Weekly USD/JPY Strategy: Like being long against 103.35

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

*103.35

104.00

104.55

104.80

*105.55

Weekly Price & Time Analysis: GOLD

WPT_Jan_3_body_Picture_1.png, Weekly Price & Time: Euro Threatening Break of Key Support

Charts Created using Marketscope – Prepared by Kristian Kerr

  • XAU/USD reversed from the 161.8% extension of the October advance this week at 1184
  • Our broader trend bias is negative in the metal while below the 2nd square root relationship of the 2012 low at 1250
  • Gann support at 1206 is important, but only weakness below 1184 will confirm that the downtrend is resuming
  • A minor cycle turn window is seen early next week
  • A daily close over 1250 will turn us positive on the metal

Weekly XAU/USD Strategy: Like being square here, but will look to go long following a break of 1250.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

XAU/USD

*1184

1206

1235

*1250

1263

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

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.