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
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Heads Up:🇺🇸 IMF World Economic Outlook due at 13:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-26
  • Heads Up:🇭🇺 Deposit Interest Rate (JAN) due at 13:00 GMT (15min) Expected: -0.05% Previous: -0.05% https://www.dailyfx.com/economic-calendar#2021-01-26
  • Heads Up:🇭🇺 Interest Rate Decision due at 13:00 GMT (15min) Expected: 0.6% Previous: 0.6% https://www.dailyfx.com/economic-calendar#2021-01-26
  • The bull flag pattern is a great pattern to add to a forex trader's technical arsenal. Explosive moves are often associated with the bull flag. Learn more about the bull flag pattern here: https://t.co/yOEvLjKnct https://t.co/Xo7WQ5b8l1
  • US Dollar slips with high beta FX hovering at session highs amid results from Regeneron's antibody drug cocktail which prevented 100% of symptomatic infections and cut down asymptomatic infections by a half in interim study
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/5uSWKoLkd6 https://t.co/5fpiYso1Cd
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Germany 30 are at opposite extremes with 65.58%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ZRDJ40Pm7N
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.71% Silver: 0.20% Gold: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/zqmOlNxmzC
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.13% 🇨🇦CAD: -0.01% 🇪🇺EUR: -0.05% 🇦🇺AUD: -0.08% 🇨🇭CHF: -0.09% 🇬🇧GBP: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/0T6Gdfci9d
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.41% France 40: 0.99% FTSE 100: 0.54% Wall Street: -0.06% US 500: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/9YQNC5TRy0
Price & Time: Big Test Coming Up For USD/JPY

Price & Time: Big Test Coming Up For USD/JPY

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • USD/JPY closing in on key resistance
  • EUR/USD pulls back from important long-term resistance
  • USD/CAD retains positive tone

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

Foreign Exchange Price & Time at a Glance:

Price & Time Analysis: EUR/USD

PT_MAR_5_body_Picture_3.png, Price & Time: Big Test Coming Up For USD/JPY

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD has come under modest pressure since failing last week near the 3x1 Gann angle line of the 2013 high at 1.3830
  • Our near-term trend bias is higher while above the 1.3655 2nd square root relationship of the 2013 high
  • The 2013 closing high near 1.3800 remains critical resistance and a daily close over this level is needed to confirm the start of a new move higher
  • The latter part of the week is a minor cycle turn window
  • A daily close below 1.3655 would turn us negative on the Euro

EUR/USD Strategy: Square here.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

*1.3655

1.3680

1.3730

1.3765

*1.3800

Price & Time Analysis: USD/CAD

PT_MAR_5_body_Picture_2.png, Price & Time: Big Test Coming Up For USD/JPY

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/CAD is in consolidation mode above the 50% retracement of the Jan/Feb range at 1.1065
  • Our near-term trend bias is positive in Funds while over 1.1010
  • Interim resistance is seen at the 1st square root relationship of the year’s high at 1.1120, but a move through 1.1190 is really required to signal that the broader advance has resumed
  • The second half of next week is a key cycle turn window
  • A close under 1.1010 would turn us negative on the exchange rate

USD/CAD Strategy: Like the long side while over 1.1010.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/CAD

*1.1010

1.1060

1.1080

1.1120

*1.1190

Focus Chart of the Day: USD/JPY

PT_MAR_5_body_Picture_1.png, Price & Time: Big Test Coming Up For USD/JPY

We had a good call last month in USD/JPY as we were looking for a low during the first week of February. The market gave us that turn, but the move higher from 100.75 has been very unimpressive especially when taking into account that the S&P 500 has rallied almost 8% during the same period. Has the trade favored by virtually every investment manager at the start of the year lost its way? It would seem so, but bulls still have some hope. The next few days look fairly positive from a short-term cyclical perspective. We expect to see another test of the critical 102.75 level (2nd square root relationship of the YTD low) which has capped the rate for almost a month now. A clear break of this level will likely put USD/JPY back in favor and set the stage for a much more aggressive rally into the middle of the month. Failure to surpass 102.75 and/or weakness back under 101.35 would be extremely negative for the exchange 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