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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
More View more
Real Time News
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here:
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here:
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: #DailyFXGuides
  • Even more remarkable than the record high levels of leverage registered in US equities this past week was the attention it garnered. Paying attention to risk is a threat when markets are this high and the docket as dense as it is this week. My outlook:
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here:
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here:
  • USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here:
Price & Time: A Pivotal Day for Global Markets

Price & Time: A Pivotal Day for Global Markets

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • EUR/USD at important “time” resistance
  • USD/CAD touches highest level in 4 and a half years
  • S&P 500 at a key near-term inflection point

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_Jan_29_body_Picture_3.png, Price & Time: A Pivotal Day for Global Markets

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD has moved modestly lower since failing last week just below the 61.8% retracement of the December/January range at 1.3745
  • Our near-term trend bias is lower while below 1.3775
  • The 1.3540 level is a key near-term downside pivot with a daily close below needed to signal the start of a new leg lower in the exchange rate
  • A turn window is seen over the next day or two
  • Only a close over 1.3775 would turn us positive on the Euro

EUR/USD Strategy: We like the short side while below 1.3775.


Support 2

Support 1


Resistance 1

Resistance 2







Price & Time Analysis: USD/CAD

PT_Jan_29_body_Picture_2.png, Price & Time: A Pivotal Day for Global Markets

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/CAD traded to its highest levels since July of 2009 on Wednesday
  • Our near-term trend bias is higher in Funds while above 1.1030
  • A Gann angle line related to last year’s low near 1.1170 is interim resistance, but the next important upside attraction looks to be the 50% retracement of the 2009/2011 deceline near 1.1240
  • The next important cycle turn window is around the second half of next month
  • Only a daily close below this week’s low at 1.1030 would turn us negative on Funds

USD/CAD Strategy: We like the long side while over 1.1030.


Support 2

Support 1


Resistance 1

Resistance 2







Focus Chart of the Day: S&P 500

PT_Jan_29_body_Picture_1.png, Price & Time: A Pivotal Day for Global Markets

Today promises to be an important day for “risk” with the FOMC decision later today. The S&P 500 in particular is in an interesting spot following last week’s sharp downside reversal just before the start of an important cycle turn window on January 24th. The jury is still out in determining what will come out of this important two week period, though a low is now more of possibility following the price action of the past week. Key support levels are the 38% retracement of the October to January advance at 1773 and the 2nd square root relationship of the all-time high near 1760. If the decline of the past few days has just been a healthy correction then these levels really need to hold. Important near-term resistance is seen at the 50 and 61.8% retracements of month-to date range between 1812 and 1821 with traction above needed to relieve immediate downside pressure. A daily close below 1760 would likely be extremely negative for the index.

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

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 Follow me on Twitter @KKerrFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.