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
EUR/USD
Mixed
Oil - US Crude
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
Wall Street
Bearish
Gold
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/RfUWJdNjzk
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/EzdjTZEbx2
  • The Dow Jones, S&P 500 and AUD/USD could be at risk of extending losses as retail investors increase upside exposure. What are key technical levels to watch for? Find out from @ddubrovskyFX here:https://t.co/ivQmFUTGdU https://t.co/KuIoM7g9E3
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/38gTDn8ejP https://t.co/FBT1eSZdjF
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/ERyiY47G5H https://t.co/LRL1iD3JDt
  • Even though the Australian Dollar lost some ground this week, support levels held. Bearish developments are brewing in $AUDUSD and $AUDJPY but remain unconfirmed. What else does #AUD face ahead technically? - https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2020/10/24/Australian-Dollar-Technical-Forecast-AUDUSD-AUDJPY-EURAUD-GBPAUD.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/0gHyXW1vHh
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/LjEjTexrCg https://t.co/9qcanKW0uT
  • Third wave? We haven’t beaten the first wave. Until the virus is under control, the US economy won’t be able to properly heal, plain & simple. The lack of a competent response saps courage. Defeat the virus, then get people back to work. In that order. https://t.co/8R8IyTZejM
  • The British Pound may fall if EU and UK negotiators fail to reach a consensus as the December 31 deadline nears. The third presidential debate is on deck, how might markets react? Find out from @ZabelinDimitri here:https://t.co/kDSYzBDA3t https://t.co/80xL2Hyat7
  • The #Fed b/s hit a record high USD ~7.18T this week! Been awhile since I last did an update so here it is! I smoothened out analysis by using 4W moving averages You can see how into summer #SP500 growth 👇 as the b/s 👇 Since then it flipped until recent fiscal talk jitters https://t.co/4AESBo99dl
Price & Time: Big Test for the Euro

Price & Time: Big Test for the Euro

2014-01-30 13:00:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

  • EUR/USD closing in on important support level
  • USD/JPY hovering above key support
  • Cycle turn window in GBP/USD today

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_30_body_Picture_3.png, Price & Time: Big Test for the Euro

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY remains in consolidation mode above 38% retracement of the October to January advance near 102.00
  • Our near-term trend bias is lower in the exchange rate while below 103.75
  • The 102.00 area remains a key downside pivot with weakness below needed to signal the start of another leg lower in USD/JPY
  • A cycle turn window is seen on Friday/Monday
  • Only a close over the 2nd square root relationship of the year’s low at 103.75 would turn us positive on the rate

USD/JPY Strategy: We like the short side while below 103.75.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

101.55

*102.00

102.50

103.40

*103.75

Price & Time Analysis: GBP/USD

PT_Jan_30_body_Picture_2.png, Price & Time: Big Test for the Euro

Charts Created using Marketscope – Prepared by Kristian Kerr

  • GBP/USD has come under steady downside pressure since failing at the1.6660 200% extension of the October/November late last week
  • Our near-term trend bias is higher in Cable while above the 2nd square root relationship of the year’s high at 1.6410
  • The 1.6660 is now a clear near-term upside pivot with traction above needed to re-instill upside momentum and expose a key Fibonacci/Gann attraction near 1.6730
  • A minor cycle turn window is seen over the next day or so
  • Only a daily close below 1.6410 would turn us negative on Cable

GBP/USD Strategy: We like the long side while over 1.6410.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

GBP/USD

1.6310

*1.6410

1.6485

1.6540

*1.6660

Focus Chart of the Day: EUR/USD

PT_Jan_30_body_Picture_1.png, Price & Time: Big Test for the Euro

The cyclical picture looks to be turning negative once again for EUR/USD. Following repeated failures to close above a key Gann angle line earlier in the week the rate has begun to show renewed signs of weakness with the Euro falling below 1.3600 earlier today. A key level for us going forward is the 3rd square root relationship of 2013 high at 1.3540. A close below this level is required to confirm that a new leg lower is indeed underway. If the exchange rate fails to move below this key pivot within the next few days it will cast some doubt on the broader negative cyclical view. A move back over1.3700 would warn that our timing is off, but only traction above 1.3775 turns the outlook positive.

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