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
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
GBP/USD
Mixed
USD/JPY
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
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
Bearish
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
Bitcoin
Bearish
More View more
Real Time News
  • Why should you set trading goals? How can it help regardless of what your #tradingstyle is? Find out: https://t.co/AYdD7ODlv1 https://t.co/IEwlO8cOoX
  • My trade video for today: 'Dow Slide Reflects Trade Headlines, #Dollar Watch for Monetary Policy Cues' https://www.dailyfx.com/forex/video/daily_news_report/2019/11/20/Dow-Slide-Reflects-Trade-Headlines-Dollar-Watch-for-Monetary-Policy-Cues.html?CHID=9&QPID=917719 https://t.co/vxAKKXX6Ga
  • ECB's Lane: Lower debt cost should be used to cut debt, Euro-Area banks can diversify sovereign bond holdings -BBG #ECB $EURUSD
  • ECB Board Member Nathan Lane: We do not see a recession in the Euro Area, ECB is not at limit of monetary policy -BBG $EURUSD #ECB
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.94%, while traders in US 500 are at opposite extremes with 80.01%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/wVYTwsiWft
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.04% 🇨🇭CHF: 0.02% 🇪🇺EUR: -0.05% 🇬🇧GBP: -0.11% 🇳🇿NZD: -0.16% 🇦🇺AUD: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/o1pjZMgdK7
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: France 40: -0.13% Wall Street: -0.17% US 500: -0.17% Germany 30: -0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/MpY58dFfmF
  • Overnight index swaps are pricing in about a 25.5 percent chance that the #RBA could deliver a 25bp rate cut next month with odds of a February reduction instead at 61.4% -BBG $AUDUSD
  • The $USD may be preparing to stage a reversal against the Singapore Dollar as USD/SGD trades within a Falling Wedge. This is as the USD/IDR downtrend remains intact. Get your market update from @ddubrovskyFX here:https://t.co/7fzeWrnlc1 https://t.co/fVq1rcBKva
  • AUD/USD Technical Analysis: Aussie Selloff Expected to Resume - https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2019/11/20/AUDUSD-Technical-Analysis-Aussie-Selloff-Expected-to-Resume.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #AUDUSD #technicalanalysis https://t.co/YZ7rKsjqng
Price & Time: Crude Reversal Next Week?

Price & Time: Crude Reversal Next Week?

2014-05-23 12:15:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

  • EUR/USD crack 200-day MA
  • Kiwi closes in on double top neckline trigger
  • Cycles favor a top in crude as it near range extremes

New to Currency Trading? Learn More HERE

Foreign Exchange Price & Time at a Glance:

Price & Time Analysis: EUR/USD

Price & Time: Crude Reversal Next Week?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD broke under the 3rd square root relationship of the year’s high near 1.3640 to trade at its lowest level since mid-February
  • Our near-term trend bias remains lower in EUR/USD while under 1.3755
  • A daily close under 1.3640 should confirm that another leg lower is underway in the exchange rate
  • A very minor cycle turn window is eyed early next week
  • Only strength back through the 2nd square root relationship of the year’s high at 1.3755 would shift the near-term trend bias positive

EUR/USD Strategy: Like the short side while below 1.3755.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

*1.3550

1.3585

1.3630

1.3710

*1.3755

Price & Time Analysis: NZD/USD

Price & Time: Crude Reversal Next Week?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • NZD/USD moved steadily lower since peaking near the 8th square root relationship of the year’s low at .8770
  • Our near-term trend bias is lower in the Bird while under .8655
  • The .8515 level remains an important pivot with weakness below needed to signal that a new leg lower is underway
  • A turn window is seen late next week
  • A move back through .8655 would turn us positive on the Kiwi

NZD/USD Strategy: Like the short side while .8655 holds.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

NZD/USD

.8465

*.8515

.8540

.8590

*.8655

Focus Chart of the Day: CRUDE

Price & Time: Crude Reversal Next Week?

The first part of next week looks important for the FXCM Crude instrument USOil from a timing perspective as several short and long-term cycles will be converging around this time. We favor a top of some sort during this turn window given the persistent grind higher of the past few weeks. The top of the recent range coincides with a key Gann level near 104.90 and this looks to be a good level to watch closely for signs of an initial reversal. After that there is slew of resistance over 106.00, but we doubt the market will extend that high before turning. New closing highs after Wednesday would invalidate our immediate negative cyclical outlook.

To receive Kristian’s analysis directly via email, please SIGN 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 natural law and through the use of various geometric, 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.