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
GBP/USD
Mixed
USD/JPY
Bullish
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
Mixed
Bitcoin
Mixed
More View more
Real Time News
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.27% 🇬🇧GBP: 0.17% 🇪🇺EUR: 0.11% 🇦🇺AUD: 0.07% 🇨🇦CAD: -0.00% 🇯🇵JPY: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/00soyUHmJz
  • RT @LiveSquawk: OPEC+ So Far Has No Plans To Deepen Current Oil Output Cuts During December Meeting – RTRS Sources #OOTT $CL_F
  • RT @C_Barraud: 🇩🇪 Moody’s downgrades outlook for German banking system to negative - CNBC *Moody's link: https://t.co/ms8Wi1Ngom https://t.…
  • OPEC is likely to extend existing oil supply cuts until June when group meets in December with no plans to deepen current oil output cuts, according to OPEC sources #OOTT
  • RT @PantheonMacro: Our Chief Eurozone Economist @ClausVistesen was on the @DailyFX Podcast with @MartinSEssex recently, discussing the path…
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: US 500: -0.01% Wall Street: -0.01% Germany 30: -0.22% France 40: -0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/RBUUmEBTY6
  • Geopolitical developments send #oil prices soaring or falling. Get your market update from @MartinSEssex here:https://t.co/XVXLyG8vjq #OOTT https://t.co/ASueyzgMgA
  • LIVE NOW: Join Currency Strategist @PaulRobinsonFX as he discusses a wide range of topics with emphasis on psychology, trade execution, and risk management with the goal of helping traders improve performance. Register here: https://www.dailyfx.com/webinars/602330483?CHID=9&QPID=917720
  • Join @CVecchioFX 's #webinar at 6:30 AM ET/11:30 AM GMT as he discusses the most relevant information from the world's most influential central banks. Register here: https://t.co/HyPgSrhjor https://t.co/2eOfuBTN3Z
  • China invites US trade negotiators for more talks - WSJ
Weekly Price & Time: Gold Breaks From Multi-Week Range

Weekly Price & Time: Gold Breaks From Multi-Week Range

2014-05-30 17:00:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

  • EUR/USD touches lowest level since early February
  • USD/JPY hovering near the 200-day moving average
  • GOLD break below major support zone

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: Gold Breaks From Multi-Week Range

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD has come under steady downside pressure since peaking during an important cycle turn window at the start of the month near 1.4000
  • Our broader bias is negative on the Euro while below 1.3755
  • The 1.3520/65 area looks to be the next important support zone in the exchange rate
  • A cycle turn window is seen next week
  • Traction over 1.3755 is needed to shift the broader trend bias to positive

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

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

*1.3520

1.3590

1.3640

*1.3755

1.3825

Weekly Price & Time Analysis: USD/JPY

Weekly Price & Time: Gold Breaks From Multi-Week Range

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY is in consolidation mode by the 200-day moving average
  • 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
  • The start of June is an important cycle turn window for the exchange rate
  • 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

101.75

103.10

*104.40

Weekly Price & Time Analysis: GOLD

Weekly Price & Time: Gold Breaks From Multi-Week Range

Charts Created using Marketscope – Prepared by Kristian Kerr

  • XAU/USD broke sharply lower from it multi-week contracting range to trade at its lowest level since early February
  • Our broader trend bias is now lower while below 1286
  • The 1210/20 area looks like a key downside attraction
  • A minor turn window is seen later next week ahead of a major one eyed around the middle of June
  • A daily close back over 1286 would turn us positive on the yellow metal

Weekly XAU/USD Strategy: Square.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

XAU/USD

*1210/20

1240

1242

*1286

1300

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.