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
Gold
Bullish
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
More View more
Real Time News
  • $GBPUSD not far off the big 1.4000 psych level that has been in focus for much of the year https://t.co/ieYPFxCX3l
  • $USDCAD has dropped below its 20-day moving average for the first time in 38 trading days. As far as monetary policy focused crosses go, this is a good one; and the BOC has already tapered twice as the Fed drags its feet https://t.co/18gBHWKzJ8
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.76% 🇬🇧GBP: 0.51% 🇨🇦CAD: 0.44% 🇪🇺EUR: 0.33% 🇦🇺AUD: 0.23% 🇯🇵JPY: 0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/6IgbcOeZDZ
  • Seeing some continued US Dollar weakness post-FOMC as expected. $DXY hitting fresh monthly lows with weekly jobless claims data and the 2Q GDP report released this morning both disappointing relative to consensus. Link to Analysis - https://www.dailyfx.com/forex/market_alert/2021/07/29/us-dollar-hits-monthly-low-as-jobless-claims-q2-gdp-disappoint.html https://t.co/MnaABIzbRr
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.88% US 500: 0.52% France 40: 0.50% Wall Street: 0.49% Germany 30: 0.36% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/7PWjwTJE5Y
  • The US 2Q GDP was technically better than the previous quarter at 6.5% (prev 6.3% revised down), but far more tame than the 8.4% forecasted. The $DXY Dollar Index is responding to the data with its fourth consecutive slide https://t.co/GsLyQwGaLC
  • White House says it is necessary for congress to extend eviction moratorium, current ban cannot be extended unilaterally after high court case -BBG
  • AUD/USD defends the advance following the Federal Reserve interest rate decision as the US Gross Domestic Product (GDP) report warns of a weaker-than-expected recovery. Get your $AUD market update from @DavidJSong here:https://t.co/6OpqGxv4ni https://t.co/eLEbTosjx9
  • RT @WVenketas: #FTSE100 index up 1% today and 9.70% YTD after several constituents posted record #earnings results with help from a #dovish…
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 3.01% Gold: 1.15% Oil - US Crude: 0.57% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/bApWwhOIbg
Weekly Price & Time: EUR/USD Threatening Big Break

Weekly Price & Time: EUR/USD Threatening Big Break

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • EUR/USD testing key resistance
  • USD/JPY nearing important directional move
  • GOLD stalls at major retracement

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_28_body_Picture_3.png, Weekly Price & Time: EUR/USD Threatening Big Break

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD touched its highest level since late December this week
  • A weekly close above the 2013 closing high near 1.3800 will shift our trend bias to positive
  • Under 1.3640 is needed to re-instill any sort of downside momentum
  • The next cycle turn window or importance is seen around the middle of March

Weekly EUR/USD Strategy: Clinging to tactical short positions against a daily close over 1.3800.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

*1.3640

1.3765

1.3800

*1.3800

*1.3890

Weekly Price & Time Analysis: USD/JPY

Weekly_PT_FEB_28_body_Picture_2.png, Weekly Price & Time: EUR/USD Threatening Big Break

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY remains range bound below key Gann resistance at 102.75
  • Our broader bias is negative in the rate while below 104.40
  • The 100.80 level remains a key downside pivot that needs to be breached soon on a daily close to undermine the positive cyclicality of the early February low
  • A minor cycle turn window is seen next week, but the next cycle inflection point of significance looks to be around middle of March
  • 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

102.05

102.75

*104.40

Weekly Price & Time Analysis: GOLD

Weekly_PT_FEB_28_body_Picture_1.png, Weekly Price & Time: EUR/USD Threatening Big Break

Charts Created using Marketscope – Prepared by Kristian Kerr

  • XAU/USD probed above the 61.8% retracement of the August to December decline at 1336 to trade at its highest level since late October
  • Our broader trend bias remains positive in the metal while above the 1x2 Gann angle line of the 2013 closing low now near 1295
  • The 1336 level is remains key resistance with a close over this level needed to signal that a new leg higher is underway
  • A minor cycle turn window is seen mid-week
  • A daily close under 1295 would turn us negative on Gold

Weekly XAU/USD Strategy: Like being long while over 1295.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

XAU/USD

*1295

1306

1325

*1336

1357

--- 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