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.

Free Trading Guides
EUR/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
Oil - US Crude
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
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • US Treasury Yields Update: 2-Year: 0.256% 3-Year: 0.318% 5-Year: 0.414% 7-Year: 0.567% 10-Year: 0.654% 30-Year: 1.274%
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Gold: 1.86% Silver: 1.81% Oil - US Crude: -1.62% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/bzjbN5PtHo
  • Poll: How much of the oncoming global recession (the severity for which is open to enormous debate) has already been priced into the market's tumble the past two months?
  • I hope everyone's week is starting out well. Stay safe, sane and optimistic
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.35%, while traders in US 500 are at opposite extremes with 67.97%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/DdXcVKMXod
  • New York Fed Purchases $7 B in Treasury Coupons
  • ECB purchased EUR 30.15bln worth of bonds in initial week of PEPP
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Gold: 1.57% Silver: 1.31% Oil - US Crude: -0.90% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Qx2KAAA23p
  • $SPX is up 5% over the weekend to test 2600 on the US market open https://t.co/3LuPlXBxhS
  • $EURUSD: With the big swing-low from last month at 10636 as a guide, a breakdown through that point should start to get the Euro some separation from the 20-year trend-line. Get your EUR/USD market update from @PaulRobinsonFX here:https://t.co/QL6sCBfQPD https://t.co/maDQxFwpUl
Price & Time: Cyclical Convergence in Gold Suggests Volatility Ahead

Price & Time: Cyclical Convergence in Gold Suggests Volatility Ahead

2014-03-10 12:05:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

  • USD/JPY touches highest level in over a month
  • GBP/USD nearing key support level
  • Key time period approaching for Gold

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

Foreign Exchange Price & Time at a Glance:

Price & Time Analysis: USD/JPY

PT_MAR_10_body_Picture_3.png, Price & Time: Cyclical Convergence in Gold Suggests Volatility Ahead

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY traded at its highest level since late January on Friday before encountering stiff resistance at the 3rd square root relationship of the year’s low near 103.75
  • Our near-term trend bias is positive in the exchange rate while above 101.35
  • The 103.75 level is an important near-term pivot that needs to be surpassed soon to pave the way for a more important push higher
  • A minor cycle turn window is seen today
  • A close under the 4th square root relationship of the year’s high at 101.35 would turn us negative on the exchange rate

USD/JPY Strategy: Like the long side while over 101.35.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

*101.35

102.35

103.30

103.40

*103.75

Price & Time Analysis: GBP/USD

PT_MAR_10_body_Picture_2.png, Price & Time: Cyclical Convergence in Gold Suggests Volatility Ahead

Charts Created using Marketscope – Prepared by Kristian Kerr

  • GBP/USD failed on Friday at the 127% extension of the Jan/Feb decline near 1.6780
  • Our near-term trend bias is higher in Cable while over 1.6600
  • A daily close over 1.6755 is needed to signal a resumption of the broader uptrend
  • The next couple of days are a medium-term cycle turn window in the exchange rate
  • Only a daily close below the 38% retracement of the February range near 1.6600 would turn us negative on the Pound.

GBP/USD Strategy: Like the long side while 1.6600 holds.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

GBP/USD

*1.6600

1.6630

1.6660

1.6700

*1.6755

Focus Chart of the Day: GOLD

PT_MAR_10_body_Picture_1.png, Price & Time: Cyclical Convergence in Gold Suggests Volatility Ahead

The next week or so is shaping up to be an interesting one for Gold. The middle of this week is an important cycle turn window related to the 2012 high in the metal while the first part of next week is another window related to the low from the first half of 2013. Given the proximity of these two potentially important cyclical relationships we are tempted to view the next week as one large window where a material change in trend is likely to occur. We slightly favor a top heading into this key time period given the clear prevailing trend in place since the end of last year. However, this is only an assumption and could quickly change should the correction from last week gather pace over the next few days. The 1300 level remains a key support area. We will write more on the metal as this develops.

To receive Kristian’s analysis directly via email, pleaseSIGN UP HERE.

--- 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

News & Analysis at your fingertips.