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
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
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
Bearish
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
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Using margin in forex trading is a new concept for many traders, and one that is often misunderstood. Margin is the minimum amount of money required to place a leveraged trade and can be a useful risk management tool. Learn about margin trading here: https://t.co/qZCE5asCzM https://t.co/yN1I9FrfIS
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/5l3O9aHQbL https://t.co/DFEfCIl7zF
  • Thin liquidity can concentrate volatility and nowhere is that more evident than with Dogecoin. $DOGEUSD was down as much as 38% today. Watch for heightened bouts of volatility amid quiet risk trends in the week ahead: https://www.dailyfx.com/forex/video/daily_news_report/2021/04/17/Dollar-Outlook-Ties-Into-Key-Data-Rate-Forecasts-and-Even-Dogecoins-Rally-.html https://t.co/JO7O7zUKe9
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZjVIG https://t.co/Vv3jZNbLWg
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkzWwW https://t.co/9j004hyzUZ
  • Learning how to trade does not have to feel foreign. Hone your skills and build your confidence with free DailyFX guides today! https://t.co/lnxaQOsgid https://t.co/7myL4vGnt8
  • Using margin in forex trading is a new concept for many traders, and one that is often misunderstood. Margin is the minimum amount of money required to place a leveraged trade and can be a useful risk management tool. Learn about margin trading here: https://t.co/qZCE5asCzM https://t.co/yxE0OmLIP0
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here: https://t.co/1mnOXUd00T https://t.co/iSrjZTeWwf
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/WeLInepZiD https://t.co/7B0KI8HehW
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM73cHA https://t.co/vGW5BygTXU
Price & Time: Key Couple of Days for USD/CAD

Price & Time: Key Couple of Days for USD/CAD

Kristian Kerr, Sr. Currency Strategist

Talking Points

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: Key Couple of Days for USD/CAD

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY closed above the 101.80 2x1 Gann angle line of the year’s high on Friday (the first time since early April)
  • Our near-term trend bias is higher in the exchange rate while over 101.05
  • A daily close over 102.25 is needed to confirm the start of a more serious advance
  • A minor cycle turn window is eyed mid-week
  • Weakness below 101.05 would undermine the burgeoning positive technical structure

USD/JPY Strategy: Like buying USD/JPY on a move through 102.25.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

*101.05

101.35

101.80

102.00

*102.25

Price & Time Analysis: GOLD

Price & Time: Key Couple of Days for USD/CAD

Charts Created using Marketscope – Prepared by Kristian Kerr

  • XAU/USD has come under steady pressure over the past couple of weeks
  • Our near-term trend bias is lower in the metal while below 1321
  • A close under 1281 is needed to instill any sort of negative momentum
  • A cycle turn window is seen next week
  • Strength back through 1321 would turn us positive on Gold

XAU/USD Strategy: Square here.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

XAU/USD

1266

*1281

1305

*1321

1338

Focus Chart of the Day: USD/CAD

Price & Time: Key Couple of Days for USD/CAD

We should learn a lot about the true intentions of the current move higher in USD/CAD over the next day or two. Our cyclical analysis suggests that if the rebound off the key support confluence area around 1.0650 has just been corrective then the exchange rate should turn back down around this time. Interestingly (as the chart above shows) this key moment in time is occurring right around an almost equally important price zone as the 200-day moving average, 2nd square root relationship of the month-to-date low, 1x1 Gann angle line of the year’s high and 61.8% retracement of the June decline all converge around 1.0820/30. If the pair is turning back down then these levels should probably hold. Strength through them (especially after Tuesday) would signal the move higher in USD/CAD has a lot more to run.

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