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
Mixed
Oil - US Crude
Bullish
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
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The Euro #Stoxx 50 has failed to sustain a break above the 200DMA, signalling signs that upside in the index may be stalling in the short-term. Get your markt update from @JMcQueenFX here: https://t.co/tPsbDcOYqN https://t.co/kT6iLncXjq
  • Secretary Mnuchin says PPP program would be more targeted if extended - BBG
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 1.39% Gold: 0.17% Oil - US Crude: -2.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/iRyAVGGNBC
  • 🇺🇸 Wholesale Inventories MoM (MAY) Actual: -1.2% Expected: -1.2% Previous: 0.2% https://www.dailyfx.com/economic-calendar#2020-07-09
  • Poll: Are the Nasdaq's and Shanghai Composite's anomalously persistent trends an indication of global risk appetite or is it an isolated appetite that risks running out of steam?
  • Tune in to @PeterHanksFX 's #webinar at 11:00 AM ET/3:00 PM GMT to learn how to identify trends with trader #sentiment. Register here: https://t.co/MqVMi2INbJ https://t.co/OD3f6v5RVy
  • 🇺🇸 Wholesale Inventories MoM (MAY) Actual: -1.2 Expected: -1.2% Previous: 0.2% https://www.dailyfx.com/economic-calendar#2020-07-09
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.05%, while traders in US 500 are at opposite extremes with 71.21%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/PECGbE52E9
  • Another remarkable gap higher on the open for the Nasdaq 100 while the likes of the S&P 500, DAX, carry, other risk-leaning assets are spinning their tires https://t.co/nPLpcnPOTy
  • China's Shanghai Composite ($SHCOMP) continues to drive higher. Biggest 7-day rally and weekly performance since Oct 2008. The Chinese gov't is the new Fed, but their efforts won't likely leverage a global risk appetite like the central bank https://t.co/fZU6ulDrLt
Price & Time: NOK Bucks the Trend

Price & Time: NOK Bucks the Trend

2014-08-21 12:20:00
Kristian Kerr, Sr. Currency Strategist
Share:

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: NOK Bucks the Trend

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY touched its highest level in over four months on Thursday
  • Our near-term trend bias is higher while over 102.75
  • The April high near 104.10 is the next near-term pivot with a close above this level needed to confirm that this breakout is genuine
  • Very minor turn windows are seen today and Tuesday
  • Weakness under 102.75 would turn us negative on exchang rate

USD/JPY Strategy: We like the long side while over 102.75.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

*102.75

103.40

103.85

*104.10

104.40

Price & Time Analysis: NZD/USD

Price & Time: NOK Bucks the Trend

Charts Created using Marketscope – Prepared by Kristian Kerr

  • NZD/USD fell to its lowest level in since early March today before finding support near the 61.8% retracement of the year’s range near .8350
  • Our near-term trend bias is negative on the Bird while under .8460
  • A close under .8350 is needed to set off a new leg lower
  • A cycle turn window is seen around the second half of next week
  • A daily close over .8460 will turn us positive again on the Kiwi

NZD/USD Strategy: Like holding reduced short positions while below .8460.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

NZD/USD

.8320

*.8350

.8380

.8410

*.8460

Focus Chart of the Day: USD/NOK

Price & Time: NOK Bucks the Trend

NOK is one of the few currencies bucking the strong USD trend at the moment. USD/NOK peaked out around the start of the month and has come under fairly steady pressure ever since. Early this week the buck tried to mount a recovery which has mostly been retraced with today’s “outside day” reversal. We have found that outside day patterns following minor recoveries tend to be fairly reliable and this action seems to bode well for a deeper decline in the days ahead. The near-term cyclical picture is also negative and seems to support this view as several cyclical techniques suggest the rate should remain weak into at least the next turn window around the middle of next week. The 6.1345 level is a key near-term pivot with a close below needed to trigger a more serious decline. Strength back over 6.2000 would completely undermine this negative view.

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.