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.

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
Bullish
Oil - US Crude
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
Wall Street
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
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • 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/PO93mIKAZP
  • 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/CHE6IOq3K5
  • 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/Agl1q6EQyu
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/UmubxiDXGc
  • 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/rz7fqhRoMG https://t.co/e4G1gTGhex
  • 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/pS48NIuwqX
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/arxYmtQeUn https://t.co/gFVVZTGbe1
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/nHXiNJhLes
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/h0TmJcZeqr
  • $USDCAD sold off aggressively last week, putting it into position to test the important 2017 low; trading bias is neutral to bearish. Get your market update from @PaulRobinsonFX here: https://t.co/sphxUAW9TB https://t.co/ZhsTeJOOM8
Price & Time: Caution Required in the Kiwi Over the Next Few Days

Price & Time: Caution Required in the Kiwi Over the Next Few Days

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • USD/JPY turn window coming up
  • Important timing eyed in the stock market next week
  • Kiwi reversal ahead?

New to Currency Trading? Learn More HERE

Foreign Exchange Price & Time at a Glance:

Price & Time Analysis: USD/JPY

Price & Time: Caution Required in the Kiwi Over the Next Few Days

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY found resistance earlier in the week at the 4x1 Gann angle line of the year-to-date low in the 102.15 area
  • Our near-term trend bias remains lower in USD/JPY while below 102.80
  • The 101.35 4th square root relationship of the year’s high remains a major downside pivot with a daily close under this level required to signal the start of a more meaningful decline
  • An important cycle turn window is eyed at the start of June
  • A daily close over 102.80 would shift our near-term trend bias positive.

USD/JPY Strategy: Like the short side while below 102.80 and adding on a daily close below 101.35.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

*100.75

*101.35

101.55

102.15

*102.80

Price & Time Analysis: S&P 500

Price & Time: Caution Required in the Kiwi Over the Next Few Days

Charts Created using Marketscope – Prepared by Kristian Kerr

  • SPX recorded yet another new all-time high on Wednesday
  • The short-term trend bias is positive on the index while above 1860
  • Major Gann resistance is seen near 1920 and a multi-day close over this level is needed to signal that some sort of blow off move higher is underway
  • The first part of June looks important for the index from a Gann timing perspective and at least a minor reversal looks probable around this time
  • Aggressive weakness under 1860 is needed turn the trend bias lower, but weakness under 1899 would warn a minor top is in place

SPX Strategy: Like reducing longs next week. 1920 area looks very important.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

SPX

*1860

1899

1265

*1920

1954

Focus Chart of the Day: NZD/USD

Price & Time: Caution Required in the Kiwi Over the Next Few Days

NZD/USD has embarked on a steady decline since peaking out at the beginning of the month near important Gann resistance at .8770 (8th square root relationship of the year-to-date low). On Wednesday the exchange rate finally closed below the late April .8515 low triggering a double top type pattern on the daily charts. According to classic technical analysis this is the time to sell. Cyclical analysis paints a different picture, however, as the next couple of days look quite important from a timing perspective. From where we stand the rate actually looks quite vulnerable to a short-term reversal which at a minimum should give better levels to sell next month. New trend lows in the Bird after Monday would nullify this near-term positive 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 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