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
Mixed
Wall Street
Bearish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Swedish PM Lofven loses vote of no confidence $SEK
  • $SEK https://t.co/wsDlD7ontr
  • Cryptos a sea of red in early turnover. #btc #eth #bch #ltc #cryptocurrencies @DailyFX Prices via @IGcom https://t.co/hJZM88iBhu
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 86.06%, while traders in France 40 are at opposite extremes with 71.39%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/kDXB7uMLTc
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Gold: 0.59% Silver: 0.38% Oil - US Crude: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/TYEA5HjCDW
  • 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/cneT301DZA
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.28% 🇳🇿NZD: 0.27% 🇦🇺AUD: 0.08% 🇨🇭CHF: 0.01% 🇪🇺EUR: -0.02% 🇨🇦CAD: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/8m662qPO5F
  • Crude Oil Prices Rise as Iran Nuclear Talks Yield No Progress https://www.dailyfx.com/forex/market_alert/2021/06/21/Crude-Oil-Prices-Rise-as-Iran-Nuclear-Talks-Yield-No-Progress.html https://t.co/0SqVDFbEV7
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: US 500: -0.18% Wall Street: -0.24% Germany 30: -0.40% FTSE 100: -0.45% France 40: -0.53% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/ogVOurA7J6
  • Gold Prices Vulnerable to Further Losses as Tapering Fears Intensify https://www.dailyfx.com/forex/market_alert/2021/06/21/Gold-Prices-Vulnerable-to-Further-Pullback-as-Tapering-Fears-Intensify-.html https://t.co/RQ2xpIsbr5
Price & Time: Double "Inside Days" in USD/JPY

Price & Time: Double "Inside Days" in USD/JPY

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • EUR/USD rebounds from key support
  • NZD/USD reverses from important Fibonacci retracement
  • Uptick in volatility eyed in USD/JPY

New to Currency Trading? Learn More HERE

Foreign Exchange Price & Time at a Glance:

Price & Time Analysis: EUR/USD

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD remains in consolidation mode above the 4th square root relationship of the year’s high near 1.3520
  • Our near-term trend bias is lower in the euro while below the 61.8% retracement of the year’s range at 1.3675
  • A daily close under 1.3520 is needed to signal a resumption of the downtrend
  • The second half of next week looks to be an important turn window
  • A move over 1.3675 would turn us positive on the euro

EUR/USD Strategy: Like the short side while below 1.3675

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

*1.3520

1.3545

1.3565

1.3595

*1.3675

Price & Time Analysis: NZD/USD

Charts Created using Marketscope – Prepared by Kristian Kerr

  • NZD/USD is in consolidation mode below the 78.6% retracement of the May-June range near .8700
  • Our near-term trend bias is positive in the Kiwi while over .8365
  • A daily close over .8700 should signal an upside resumption
  • A cycle turn window is eyed next week
  • A daily close below .8365 would turn our near-term trend bias negative

NZD/USD Strategy: Like the long side while over .8635.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

NZD/USD

*.8635

.8655

.8670

*.8700

.8735

Focus Chart of the Day: USD/JPY

A quick glance at the daily USD/JPY chart will show the exchange rate has undergone two inside days in row and is working on a third today. An “inside day” as the name implies just refers to a technical occurrence where the most recent day’s range was less than the prior day’s range (ie. fits inside). Multiple inside days are fairly rare and need to be paid attention to when they occur as they have a tendency to be strong precursors to an increase in near-term volatility and directional trend. Shorter-term cyclical analysis slightly favors a move to the downside, but a move through the range of the past couple of weeks at 102.78-101.59 is really needed to get us more excited about any real directional move starting in USD/JPY.

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