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
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
More View more
Real Time News
  • 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/Yl9vM7kO6a https://t.co/otJwnuR7qe
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/s4lZWdJoXV
  • The US Dollar Index traded higher last week, sustaining its broader uptrend. Conflicting technical signals urge caution, but the directional bias remains skewed to the upside. Get your weekly USD technical forecast from @FxWestwater here: https://t.co/jcwhcsUBEN https://t.co/tKrlrRZlZn
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/MGy9OTXpUI
  • The Australian Dollar still remains vulnerable as it extends losses against its major counterparts. What is the road ahead for AUD/USD, AUD/JPY, AUD/NZD and AUD/CAD? Get your AUD technical forecast from @ddubrovskyFX here: https://t.co/ph20zFv4qS https://t.co/v4g9ATf4rr
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/De69mTseZN
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/D7AeTM5OpH
  • EUR/USD tumbled last week on the day of the ECB’s latest policy announcement, and that weakness is set to continue this week as a flood of major Eurozone economic statistics is released. Get your weekly Euro forecast from @MartinSEssex here: https://t.co/9B4rJnzWuz https://t.co/ENF3xlkuyP
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqi8ZEe https://t.co/Gps2Xp32h9
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/hftCEho1lM
Weekly Price & Time: Next Week is Key For Gold From A Timing Perspective

Weekly Price & Time: Next Week is Key For Gold From A Timing Perspective

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • EUR/USD breaks key Gann level
  • USD/JPY nearing big break?
  • GOLD has an important turn window next week

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

Weekly Foreign Exchange Price & Time at a Glance:

Weekly Price & Time Analysis: EUR/USD

weekly_PT_apr_4_body_Picture_3.png, Weekly Price & Time: Next Week is Key For Gold From A Timing Perspective

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD has come under further pressure this past week to trade at its lowest level in a month
  • A weekly close below the 2nd square root relationship of the year’s high at 1.3730 will turn us negative
  • Last week’s high at 1.3875 is important resistance with a move above needed to confirm an upside resumption
  • A cycle turn window is seen in the Euro mid-week

Weekly EUR/USD Strategy: May look to sell a close under 1.3730.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

*1.3625

1.3655

1.3690

1.3730

*1.3875

Weekly Price & Time Analysis: USD/JPY

weekly_PT_apr_4_body_Picture_2.png, Weekly Price & Time: Next Week is Key For Gold From A Timing Perspective

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY closed over the 3rd square root relationship of the year’s low at 103.75 this week to trade at its highest level since late January
  • Our broader bias is negative in the rate while below 104.40
  • The 3rd square root relationship of the the year’s high around 102.35 is key support and needs to be breached to signal a downside resumption
  • The middle of the week is a minor cycle turn window
  • A weekly close back over 104.40 would turn us positive again on USD/JPY

Weekly USD/JPY Strategy: We like tactical short positions in USD/JPY while below 104.40 on a weekly close basis.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

101.75

*102.35

103.45

103.75

*104.40

Weekly Price & Time Analysis: GOLD

weekly_PT_apr_4_body_Picture_1.png, Weekly Price & Time: Next Week is Key For Gold From A Timing Perspective

Charts Created using Marketscope – Prepared by Kristian Kerr

  • XAU/USD broke below key support at 1285 to trade at its lowest level since early February this week
  • We are negative on the metal while below 1336
  • The 1285 area remains key support with a weekly close below needed to signal a resumption of the downtrend
  • An important turn window is seen between April 7-9
  • A daily close back over 1336 will turn us positive on the metal again

Weekly XAU/USD Strategy: Like holding reduced short positions while below 1336.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

XAU/USD

1260

*1285

1305

1318

*1336

Unfamiliar with Gann Square Root Relationships? Learn more about them 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