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
Mixed
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Mixed
More View more
Real Time News
  • Heads Up:🇺🇸 USD Monthly Budget Statement (NOV) due at 19:00 GMT (15min), Actual: N/A Expected: -$206.9b Previous: -$134.5b https://www.dailyfx.com/economic-calendar#2019-12-11
  • Heads Up:🇺🇸 USD Interest Rate on Excess Reserves (DEC 12) due at 19:00 GMT (15min), Actual: N/A Expected: 1.55% Previous: 1.55% https://www.dailyfx.com/economic-calendar#2019-12-11
  • Heads Up:🇺🇸 USD FOMC Rate Decision (Lower Bound) (DEC 11) due at 19:00 GMT (15min), Actual: N/A Expected: 1.50% Previous: 1.50% https://www.dailyfx.com/economic-calendar#2019-12-11
  • Heads Up:🇺🇸 USD FOMC Rate Decision (Upper Bound) (DEC 11) due at 19:00 GMT (15min), Actual: N/A Expected: 1.75% Previous: 1.75% https://www.dailyfx.com/economic-calendar#2019-12-11
  • Starting coverage of the #FOMC rate decision in a few minutes. I put my scenario table back in just for reference. If you are watching the event, come and join me: https://t.co/qiccUt9vbg https://t.co/25GHBJBW1k
  • US Treasury Yields Update: 2-year: 1.638% 3-Year: 1.652% 5-Year: 1.668% 7-Year: 1.754% 10-Year: 1.809% 30-Year: 2.226% $TNX
  • #Gold prices rebounding off key support zone- bearish invalidation at 1489 heading into FOMC. Get your $gld technical analysis from @MBForex here: https://t.co/R6wXmRjdvm $XAUUSD https://t.co/Uc1lbQGLHw
  • #Palladium pushes further into all-time highs following South Africa's energy crisis https://t.co/UdGWHDR3aW
  • best news of the day so far https://t.co/ctf0DcZxQJ
  • RT @federalreserve: WATCH LIVE TODAY: Press conference with #FOMC Chair Powell at 2:30 p.m. ET: https://t.co/sh1FXgYlwr https://t.co/FJa6T…
Price & Time: Focus Still on the Antipodeans

Price & Time: Focus Still on the Antipodeans

2014-07-15 12:30:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

  • USD/JPY rebounds from key retracement level
  • USD/CAD tests important upside pivot
  • Critical week for AUD/NZD

Get real time volume on your charts for free. Click HERE

Foreign Exchange Price & Time at a Glance:

Price & Time Analysis: USD/JPY

Price & Time: Focus Still on the Antipodeans

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY has moved modestly higher over the past few days following last week’s reversal from the 101.05 88.6% retracement of the May to June advance
  • Our near-term trend bias is still higher in the exchange rate
  • A move over 102.25 is needed to confirm the start of a more meaningful push higher
  • A cycle turn window is eyed next week
  • Any weakness under 101.05 would re-focus lower

USD/JPY Strategy: Square, but would look to buy a break of 102.25 and 102.80.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

*101.05

101.35

101.55

*102.25

102.80

Price & Time Analysis: USD/CAD

Price & Time: Focus Still on the Antipodeans

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/CAD reversed last week from a key confluence zone near 1.0600/50
  • Our near-term trend bias is now higher in Funds
  • A push through the 38% retracement of the June/July decline at 1.0750 is needed to set off a new leg higher
  • A minor cycle turn window is eyed early next week
  • A daily close under 1.0630 would turn us negative again on USD/CAD

USD/CAD Strategy: Like buying Funds on weakness against 1.0630.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/CAD

*1.0630

1.0700

1.0725

*1.0750

1.0790

Focus Chart of the Day: AUD/NZD

Price & Time: Focus Still on the Antipodeans

We are watching the AUD/NZD crossrate closely this week. One of our favorite cyclical intervals is “Pi” or 3,141 days. Some remarkable reversals have occurred on the interval with perhaps the most well known one being the high in the US equity market in 2000 which occurred 3,141 trading days from the low following the 1987 crash. The past weekend AUD/NZD reached 3,141 calendar days from the major low recorded in December of 2005. On Monday the cross touched a new 4-month low before reversing sharply from just above the 4th square root relationship of the year’s high at 1.0620 to record an “outside day” on the daily chart. An interesting first step, but in no way anything definitive. Follow through over the next few days will be important with strength over 1.0675 and then 1.0700 needed to signal that the cross is undergoing something more than just a natural correction. Renewed weakness below another square root relationship at 1.0590 would seriously undermine any remaining potential for a more serious turn.

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

News & Analysis at your fingertips.