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
EUR/USD
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.42% 🇦🇺AUD: 0.37% 🇬🇧GBP: 0.28% 🇨🇭CHF: 0.14% 🇪🇺EUR: 0.13% 🇯🇵JPY: 0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/YWzI8DJhdJ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 87.91%, while traders in Germany 30 are at opposite extremes with 77.35%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/kRxLmNvUAS
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/KMmPnHt3Ce
  • RBA Minutes: Rate rise conditions unlikely met until 2024 at earliest, changing 3-year yield target from 0.1% not warranted. Will continue bond buys if assists progress towards goals -BBG $AUDUSD #RBA
  • RT @BrendanFaganFx: Japanese Yen Analysis: USD/JPY Points Higher as GDP Data Misses Expectations $USDJPY Link: https://www.dailyfx.com/forex/market_alert/2021/05/18/Japanese-Yen-Analysis-USDJPY-Points-Higher-as-GDP-Data-Misses-Expectations.html
  • Heads Up:🇦🇺 RBA Meeting Minutes due at 01:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-18
  • Japan's Economic Minister Yasutoshi says Q1 GDP drop due largely to dip in consumption - BBG
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: https://t.co/bTXkGN1CIM #DailyFXGuides https://t.co/hJeqJek0Ai
  • 🇯🇵 GDP Growth Rate QoQ Prel (Q1) Actual: -1.3% Expected: -1.2% Previous: 2.8% https://www.dailyfx.com/economic-calendar#2021-05-17
  • 🇯🇵 GDP Growth Annualized Prel (Q1) Actual: -5.1% Expected: -4.6% Previous: 11.6% https://www.dailyfx.com/economic-calendar#2021-05-17
Weekly Price & Time: Important Top in the Euro?

Weekly Price & Time: Important Top in the Euro?

Kristian Kerr, Sr. Currency Strategist

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