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
Bullish
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
Mixed
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
Mixed
More View more
Real Time News
  • Markets attempted pull risk trends out of their dive this past session, but sentiment (via $SPX) ultimately returned to its bearish course. Meanwhile, $EURUSD is consistent with its reversal. My video for today: https://www.dailyfx.com/forex/video/daily_news_report/2020/09/24/EURUSD-Extends-its-Dive-as-Late-Day-Selloff-Puts-SP-500-On-Verge-of-Correction.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/Q6JZKW2B1y
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.57%, while traders in EUR/GBP are at opposite extremes with 64.76%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/JHNAiIgVLv
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.11% 🇪🇺EUR: -0.02% 🇯🇵JPY: -0.06% 🇨🇦CAD: -0.08% 🇳🇿NZD: -0.22% 🇦🇺AUD: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/im3IxxDQ3y
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.15% US 500: 0.12% FTSE 100: -0.94% Germany 30: -1.00% France 40: -1.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/X6mMfIY6HW
  • The US Dollar, British Pound, and Euro will all be closely watching key geopolitical developments in North America (Powell testimony), the UK (Brexit talks) and Europe (EU summit). Get your market update from @ZabelinDimitri here:https://t.co/q4AJW6PTCu https://t.co/e0rwBFOnqX
  • RT @stlouisfed: The current recession has in many ways been more extreme than the Great Depression, yet the economy is projected to recover…
  • The US Dollar is struggling against ASEAN currencies despite weakness in the S&P 500. Capital remains flowing into emerging markets, keeping USD under pressure, could this change? Find out from @ddubrovskyFX here:https://t.co/nwhy3XhE74 https://t.co/ir20IjaJFu
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: -0.06% Oil - US Crude: -0.97% Silver: -1.60% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/H9676jm7CT
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.14% 🇪🇺EUR: 0.01% 🇨🇦CAD: -0.01% 🇯🇵JPY: -0.07% 🇳🇿NZD: -0.17% 🇦🇺AUD: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/tm1u1cKErl
  • #Market Snapshot $AUDUSD sliding to fresh session-lows on the back of #MorganStanley's suggestion #IronOre prices will fall in Q4 Haven-linked $USD and $JPY pushing back to session-highs after dipping lower in early trade $Gold nudging slightly higher https://t.co/FsT9RIZYvR
Weekly Price & Time: Important Week Coming Up for the Greenback

Weekly Price & Time: Important Week Coming Up for the Greenback

2014-02-14 16:30:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

  • EUR/USD flirting with important resistance zone
  • USD/JPY fails near key retracement level
  • GOLD at highest level in 3-years

Unfamiliar with Gann Square Root Relationships? Learn more about them here.

Weekly Foreign Exchange Price & Time at a Glance:

Weekly Price & Time Analysis: EUR/USD

Weekly_PT_FEB_14_body_Picture_3.png, Weekly Price & Time: Important Week Coming Up for the Greenback

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD has moved steadily higher since rebounding off the 1x1 Gann angle line of the 2013 low near 1.3500 last week
  • Our trend bias is lower in the Euro, however, while below the 2013 closing high near 1.3800
  • The 1.3500 area remains a key downside pivot with weakness below needed to signal a resumption of the broader decline
  • A cycle turn window is seen early next week
  • Only a daily close back over 1.3800 would turn us positive on the Euro again

Weekly EUR/USD Strategy: Like the short side while under 1.3800.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

*1.3500

1.3595

1.3685

1.3710

*1.3800

Weekly Price & Time Analysis: USD/JPY

Weekly_PT_FEB_14_body_Picture_2.png, Weekly Price & Time: Important Week Coming Up for the Greenback

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY tested the 1x2 Gann angle line of the 2013 high at 102.65 before coming under renewed pressure
  • Our broader bias is now negative in the rate while below 104.40
  • The 100.80 level remains a key pivot that needs to be breached soon to undermine the positive cyclicality of last week’ low
  • The middle of next week is a medium-term cycle turn window
  • A weekly close back over 104.40 would turn us positive again on USD/JPY

Weekly USD/JPY Strategy: We like the short side in USD/JPY while below 104.40.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

*100.80

101.35

101.85

102.7

*104.40

Weekly Price & Time Analysis: GOLD

Weekly_PT_FEB_14_body_Picture_1.png, Weekly Price & Time: Important Week Coming Up for the Greenback

Charts Created using Marketscope – Prepared by Kristian Kerr

  • XAU/USD traded to its highest level in three months this week
  • Our broader trend bias remains positive in the metal while above the 1x2 Gann angle line of the 2013 closing low near 1270
  • A confluence of Fibonacci and Gann levels between 1318/23 should provide strong resistance and a close above this zone is needed to trigger the next serious push higher in the metal
  • A cycle turn window is seen around the middle of next week
  • A daily close under 1270 would turn us negative on Gold

Weekly XAU/USD Strategy: Like being long while over 1270.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

XAU/USD

*1270

1280

1316

*1323

1336

--- 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