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
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • Relief rally ahead for $AUDNZD? Bullish RSI divergence at key psychological support (1.0600) suggests a rebound back towards the 21-MA (1.0626) and 50-MA (1.0659) could be on the cards Conversely, a break below 1.0590 probably opens the door for further losses. $AUD $NZD https://t.co/1zUvYXyLBh
  • WTI Crude Oil fell to a fresh four-month-low this morning. This fresh low broke through range support that’s held for the better part of two months. Get your #crudeoil technical analysis from @JStanleyFX here: https://t.co/UMeWEIrTSh https://t.co/a3Ujc3Rf2z
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.02% 🇳🇿NZD: -0.16% 🇦🇺AUD: -0.25% 🇬🇧GBP: -0.42% 🇨🇭CHF: -0.59% 🇪🇺EUR: -0.62% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/vspt9gv2qH
  • Nasdaq futures pivot sharply lower in the wake of earnings from $AMZN, $GOOGL, $FB and $AAPL, which comprise over 35% of the tech-heavy index collectively. $NQ_F $NDX still trading positive on the day. https://t.co/w5yqbxsqjb https://t.co/4jxdwQY8yo
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.13% Silver: -0.55% Gold: -0.57% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Lgi1Jei5qJ
  • Apple earnings: EPS $0.73 vs $0.71 est Revenue $64.70B vs est $63.47B $AAPL
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.31%, while traders in NZD/USD are at opposite extremes with 66.78%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/k2e06fEjoh
  • ECB Pre-Commits to More Stimulus: ECB’s Lagarde had stated that the GC were in agreement that given the current backdrop, risks were clearly tilted to the downside. Get your market update from @JMcQueenFX here:https://t.co/KPjoDcQ0D0 https://t.co/vV1nprDCKL
  • Watch @PeterHanksFX, @DailyFX Equity Analyst covering the Earnings live - https://t.co/cpf5s3UvUn
  • Wow. Amazon blows out its EPS $12.37 vs $7.37. Google did $16.40 against $11.42. Even Facebook $2.71 versus $1.91. @PeterHanksFX talking about it now: https://t.co/37dmgWZQhn
Price & Time: Commodity Currencies Getting Fatigued?

Price & Time: Commodity Currencies Getting Fatigued?

2014-06-25 12:30:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

  • EUR/USD recovers from important Gann level
  • NZD/USD closing in a key resistance
  • USD/CAD entering important cyclical turn period

New to Currency Trading? Learn More HERE

Foreign Exchange Price & Time at a Glance:

Price & Time Analysis: EUR/USD

Price & Time: Commodity Currencies Getting Fatigued?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD remains in a sideways to higher range above the 4th square root relationship of the year’s low at 1.3520
  • Our near-term trend bias is higher in the exchange rate while over 1.3520
  • A daily close over 1.3675 is needed to prompt a more significant move higher in the exchange rate
  • A cycle turn window is seen around the end of the month
  • A close below 1.3520 would re-focus lower

EUR/USD Strategy: Flat. Looking to buy euros around month-end.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

*1.3520

1.3585

1.3600

1.3635

*1.3675

Price & Time Analysis: NZD/USD

Price & Time: Commodity Currencies Getting Fatigued?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • NZD/USD traded to a new high for the month to start the week before coming under modest pressure over the past couple of days
  • Our near-term trend bias is higher in the Bird while over .8640
  • Interim resistance is eyed around .8705 ahead of a key Fibonacci retracement at .8735
  • A cycle turn window is seen around month-end
  • A daily close below .8640 would turn us negative on the exchange rate

NZD/USD Strategy: Like the long side for a few more days.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

NZD/USD

*.8640

.8660

.8695

.8705

*.8735

Focus Chart of the Day: USD/CAD

Price & Time: Commodity Currencies Getting Fatigued?

The next few days should prove important for USD/CAD. A convergence of several medium-term cyclical relationships around this time suggest the exchange rate is vulnerable to some kind of reversal - or at least an attempt at one. An idealized turn around level is the 1.0650 area as it marks a convergence of the 6th square root relationship of the year’s high and the 100% projection of the March/April decline, but barring an unlikely final spike lower this is probably just a little too far away to be relevant. As such, our focus remains on the 50% retracement of the March/April advance near 1.0730. A daily close over 1.0770 is needed to confirm that a reversal is underway. Longer-term cyclical analysis suggests any recovery that materializes from this turn window is likely to be fairly short lived. New cycle lows in Funds after Tuesday would mean our near-term positive view was wrong.

To receive Kristian’s analysis directly via email, please SIGN UP HERE.

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.

--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com

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