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
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
Gold
Bearish
Oil - US Crude
Bearish
Bitcoin
Mixed
More View more
Real Time News
  • Secretary Mnuchin says he intends to stay in position through second term $DXY
  • LIVE IN 15 MINUTES: Join @JStanleyFX as he runs through price action set-ups for the FX and CFDs market. https://www.dailyfx.com/registerToSeminar?webinar=3952937094787220994&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • It's been a while since I updated this, but here is what the Fed funds rate would be if we equated stimulus to rate changes (using a Ben Bernanke formula). It is plenty accommodative... https://t.co/BDhje8Ba0Z
  • $DXY continues to weaken through mid-day trading https://t.co/i3xEXsNiZP
  • The #RBA’s unease over subdued household consumption, which had been highlighted in the Q3 GDP report, looks to have spilled into Q4 with the October retail sales dropping to 0%, missing expectations of 0.3%. Get your market update from @JMcQueenFX here:https://t.co/4PB6UbPsQE https://t.co/DkE5rKNeFs
  • I'll be watching the $CAC to $DAX ratio in the coming days as a way of gauging the impact of the ongoing French protests Here's where it is now https://t.co/K3LqrX39aY
  • I'll be watching the $CAC to $DAX ratio in the coming days for any palpable impact of the ongoing French protests You can already see a bit of a drop-off, but time will tell https://t.co/mpWoNBfXRv
  • Secretary Mnuchin says work is being done on Volcker rule, coordinating with other regulators $SPX
  • Secretary Mnuchin says he would like to address private capital flows in the next 3 to 6 months $DXY $SPX
  • Join @JStanleyFX 's weekly #webinar on trading price action at 1:00 PM ET/5:00 PM GMT. Register here: https://t.co/rFhWzz0pIy https://t.co/1BHKlfkmiL
Price & Time: What Is Going On With Gold?

Price & Time: What Is Going On With Gold?

2014-07-29 12:20:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

  • EUR/USD closes at lowest level in seven months
  • NZD/USD at multi-week low
  • Turn window in Gold next week

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

Foreign Exchange Price & Time at a Glance:

Price & Time Analysis: EUR/USD

Price & Time: What Is Going On With Gold?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD closed at its lowest level in seven months on Friday before recovering modestly off the 6th square root relationship of the 2013 low near 1.3430
  • Our near-term trend bias is lower in the euro while below 1.3545
  • A daily close below a key Fibonacci confluence in the 1.3395 area is needed to set off a more material move lower
  • A very minor cycle turn window is tomorrow ahead of a more important one around the middle of next week
  • A move over 1.3545 would turn us positive on the euro

EUR/USD Strategy: A low next week would not surprise. We like holding only a reduced short position while under 1.3545.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

*1.3395

1.3430

1.3430

*1.3545

1.3590

Price & Time Analysis: NZD/USD

Price & Time: What Is Going On With Gold?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • NZD/USD has come under fairly aggressive pressure over the past few weeks
  • Our near-term trend bias is lower in the Bird while under .8650
  • The 78.6% retracement of the June /July advance at .8495 is an important near-term pivot with weakness below needed to set up a test of a major Gann attraction near .8460
  • The next important cycle turn window is seen early next week
  • A move over .8650 would turn us positive on the Kiwi

NZD/USD Strategy: Like the short side while below .8650.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

NZD/USD

*.8460

.8495

.8515

.8590

*.8650

Focus Chart of the Day: GOLD

Price & Time: What Is Going On With Gold?

The beginning of summer was important for Gold from a cyclical perspective as several key long-term relationships converged around that time. For this reason we believe the low at the start of June was significant and should lead to an important trend move higher during the second half of the year. However, over the past couple of weeks the metal has come under fairly steady pressure. The next important turn window is eyed around the middle of next week and the metal needs to turn back up around this time to confirm that our broader positive view is indeed correct. Key support over the next week looks to be between 1280 and 1270 and this area needs to hold.

To receive Kristian’s analysis directly via email, pleaseSIGN 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.