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
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACyvdZ https://t.co/6VjW5FEiQW
  • Global stocks bounce back from recent pullback as key resistance levels lie ahead. Get your weekly equities forecast from @HathornSabin here: https://t.co/wXSWo1JygD https://t.co/vWVaSEQTXT
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9FlspUVZz https://t.co/9kfBu04auM
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5ddzFV https://t.co/8GJ6OQYgnW
  • Bitcoin (BTC) started the day on the front foot on the Twitter news before the latest China crypto ban hammered the market lower. Get your weekly crypto forecast from @nickcawley1 here: https://t.co/ZKHGXeVhsR https://t.co/QSltMQml6N
  • 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/DSp7f3YuAx
  • 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/HNqHcbL6vk
  • The US Dollar continues to push higher against ASEAN currencies after the FOMC rate decision. This leaves the USD/SGD, USD/THB, USD/PHP and USD/IDR outlook mostly tilted higher. Get your market update from @ddubrovskyFX here:https://t.co/zn56iTFBxM https://t.co/FbepD4RaFg
  • The US Dollar seems to be back on the offensive against its major counterparts, pressuring EUR/USD and NZD/USD lower as USD/JPY consolidates. USD/CHF surges past key resistance. Get your market update from @ddubrovskyFX here:https://t.co/MrLGSp7FYa https://t.co/XS0176LyOg
  • The Japanese Yen remains in focus with strength potential on risk aversion themes to go along with weakness on themes around higher rates. Get your weekly $JPY technical forecast from @JStanleyFX here: https://t.co/l4UICqJzJy https://t.co/dQ2pS0E4fp
Price & Time: USD/CHF Holds the Key

Price & Time: USD/CHF Holds the Key

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • USD/JPY nearing important resistance
  • AUD/USD falls to lowest level in more than three years
  • USD/CHF price action over next few days will be important

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_Jan_16_body_Picture_3.png, Price & Time: USD/CHF Holds the Key

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY has steadily recovered since finding support at the 161.8% projection of the early January decline
  • Our near-term trend bias is lower in USD/JPY while below the 101.85
  • Interim support is seen at 104.40, but weakness under 103.35 is really required to signal a downside resumption
  • A minor cycle turn window is seen early next week
  • A daily close over 104.85 will shift our near-term trend bias back to positive

USD/JPY Strategy: Like selling into strength while below 104.85.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

*103.35

104.40

104.70

*104.85

*105.55

Price & Time Analysis: AUD/USD

PT_Jan_16_body_Picture_2.png, Price & Time: USD/CHF Holds the Key

Charts Created using Marketscope – Prepared by Kristian Kerr

  • AUD/USD has come under aggressive downside pressure since turning lower during the cycle turn window at the beginning of the week
  • Our near-term trend bias is lower while below .8910
  • The 16th square root relationship of the 2013 high at .8785 is an important pivot with traction below setting up further material downside
  • A minor cycle turn window is seen early next week
  • Only a daily close back over .8910 would turn us positive on the Aussie

AUD/USD Strategy: Like the short side while under .8910.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

AUD/USD

.8710

*.8785

.8790

.8850

*.8910

Focus Chart of the Day: USD/CHF

PT_Jan_16_body_Picture_1.png, Price & Time: USD/CHF Holds the Key

Cycle analysis pinpointed the turn at the start of the year in USD against the European currencies. We believe there is a good chance that this turn will lead to a more important USD move higher in the weeks and months ahead. One of the main pairs that we are watching for clues as it has a tendency to be a leader is USD/CHF. The rate made its low for the 2013 on December 27th at the 127% extension of the January to May advance and has moved steadily higher ever since. We view the break and recent successful re-test of the 2nd square root relationship of the 2013 low at .8985 as very constructive. A push through the year-to-date high at .9125 in the next few days should kick off another bout of material USD strength. Unexpected aggressive weakness below .8985 would warn that a more prolonged sideways period is due. Only a daily close below .8875 would completely undermine the positive cyclicality and turn us negative on the rate.

To receive other reports from this author via e-mail, sign up to Kristian’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