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
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
Gold
Bearish
Oil - US Crude
Bullish
Bitcoin
Mixed
More View more
Real Time News
  • China's President Xi: - Increase in protectionism creates deficits in government $USDCNH
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: France 40: -0.11% Wall Street: -0.11% US 500: -0.15% Germany 30: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/6UPif8JxXB
  • Chicago Fed President Evans: - Assessing Libra's impact potential is critical $DXY
  • $EURUSD: A double low at 1.0940 may stem losses before a re-test of 1.0926 and the October 1 multi-month low at 1.0879. Get your $EURUSD market update from @nickcawley1 here:https://t.co/Jz4xTdSRpG https://t.co/RrbUWie0Fg
  • RT @LiveSquawk: Chinese President Xi: Restoring Order And Stopping Violence Is The Most Urgent Task For Hong Kong Right Now – RTRS
  • ECB's Knot: -ECB can act more forcefully with conventional instruments -ECB should be more cautious with unconventional monetary policy $EUR
  • Fed's Clarida: -Fed policy review will likely be complete by mid-2020 -Current policy toolkit 'flexible' -FOMC remains content with current monetary policy stance -3.6% UR may not be below full employment -Sees no evidence of rising wages causing excess inflation $USD $TNX
  • RT @BEA_News: Personal income rose 5.7% in the metropolitan portion of the United States last year and increased 4.8% in the nonmetropolita…
  • RT @MKTWeconomics: Initial jobless claims jump 14,000 to a nearly 5-month high of 225,000 in early November. More likely a statistical quir…
  • Fed commentary will be plentiful today $USD $TNX $ES_F #FOMC https://t.co/pVbDhWFEj5
Weekly Price & Time: Important Top in the Euro?

Weekly Price & Time: Important Top in the Euro?

2014-05-09 15:50:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

  • EUR/USD reverses sharply from key cyclical turn window
  • USD/JPY threatening important technical break
  • GOLD advance stalls at Gann resistance

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 Price & Time: Important Top in the Euro?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD traded briefly to a new multi-year high this week before reversing sharply
  • Our broader bias is negative on the Euro while below 1.3970
  • Weakness under the 2nd square root relationship of the year’s high at 1.3755 is needed to confirm a more important top is in place
  • The next important cycle turn window is seen towards the end of the month
  • Only traction over 1.3970 turns our broader outlook positive

Weekly EUR/USD Strategy: Like the short side while under 1.3970

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

1.3710

*1.3755

1.3775

1.3875

*1.3970

Weekly Price & Time Analysis: USD/JPY

Weekly Price & Time: Important Top in the Euro?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY is trading at the low end of its multi-month trend
  • Our broader bias is negative in the rate while below 104.40
  • A close under 101.35 will signal a resumption of the broader decline
  • An important cycle turn window is seen later this month
  • Only strength over 104.40 will turn us positve 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

100.75

*101.35

101.70

103.10

*104.40

Weekly Price & Time Analysis: GOLD

Weekly Price & Time: Important Top in the Euro?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • XAU/USD initial strength this past week stalled at a key Gann convergence between 1315/1321
  • Following the daily close over 1306, our trend bias is positive
  • A move through 1321 is needed to spark an upside resumption
  • A minor turn window is seen around the middle of next week
  • A daily close below 1270 will turn us negative on the metal

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

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

XAU/USD

1260

*1270

1291

*1321

1331

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

News & Analysis at your fingertips.