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
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
Oil - US Crude
Bullish
Wall Street
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • The Japanese #Yen may rise if a growing number of coronavirus cases around the world puts a premium on anti-risk assets. JPY’s gains may be amplified if corporate earnings fail to impress investors. Get your #currencies update from @ZabelinDimitri here: https://t.co/yP4revKq6J https://t.co/7smgRKspLU
  • The US Dollar index (DXY) may face range bound conditions over the coming days amid the failed attempt to test the June low (95.75). Get your #currencies update from @DavidJSong here: https://t.co/GsBcE6Z4G6 https://t.co/HIJ4vvcBIg
  • The Dow Jones could fall based on positioning signals, will the growth-linked Australian Dollar and Canadian Dollar follow? If so, what are the technical barriers ahead? Find out from @ddubrovskyFX here:https://t.co/yJrlR5C00P https://t.co/FzkIBlJLHG
  • Further gains in USD/IDR could be curbed as USD/PHP establishes a floor around 2017 lows. USD/MYR may fall next as USD/SGD fast approaches a key falling trend line.Get your #ASEAN currencies market update from @ddubrovskyFX here:https://t.co/9JgZm2n8Fl https://t.co/FeBuqJ64qB
  • Japanese Yen Outlook Bullish on Coronavirus Surge, US Earnings Season https://www.dailyfx.com/forex/fundamental/forecast/weekly/jpy/2020/07/11/Japanese-Yen-Outlook-Bullish-on-Coronavirus-Surge-US-Earnings-Season.html
  • The New Zealand Dollar is aiming higher, with NZD/USD eyeing fresh yearly highs while AUD/NZD may be carving out a bearish Head and Shoulders chart pattern. Get your $NZDUSD market update from @DanielGMoss here:https://t.co/osFxXvq5xF https://t.co/sKBkNvMvPz
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/3qXauAsm2Q
  • The Dow Jones and S&P 500 nervously face the earnings season as coronavirus deaths could reimpose lockdowns. The DAX 30 eyes an EU rescue package as the FTSE 100 awaits GDP data. Get your #equities update from @ddubrovskyFX here: https://t.co/A0k6JMMBOg https://t.co/iihbEYsfgi
  • It was a surprisingly quiet week in oil, with the net of this week’s price action showing a doji. But a longer-term formation has built that may open the door to that next trend. Get your #commodities update from @JStanleyFX here: https://t.co/zz6M2ce55V https://t.co/UxlbpgLBkq
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/beKjEODs2y
Price & Time: Cue the "Most Hated Rally in History" Talk

Price & Time: Cue the "Most Hated Rally in History" Talk

2014-08-28 12:15:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

  • Secondary high in equities next week?
  • Euro sentiment near cautionary extremes
  • Gold finds support near key Gann line

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: Cue the "Most Hated Rally in History" Talk

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD touched its lowest level in almost a year yesterday before rebounding off the 38% retracement (polarity) of the 2011/2012 decline in the 1.3150 area
  • Our near-term trend bias remains lower in the euro while below 1.3285
  • Support is seen at 1.3150 and 1.3125 ahead of a key action/reaction zone between 1.3085/50
  • An important turn window is eyed next week
  • A close over 1.3285 would turn us positve on the euro

EUR/USD Strategy: Like reduced short position while below 1.3285.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

*1.3085

1.3150

1.3185

1.3225

*1.3285

Price & Time Analysis: GOLD

Price & Time: Cue the "Most Hated Rally in History" Talk

Charts Created using Marketscope – Prepared by Kristian Kerr

  • XAU/USD is struggling higher along the 2x1 Gann angle line of the year’s closing low
  • Our near-term trend bias is lower while below 1321
  • A close under the Gann line now at 1278 is needed to kick off a new leg lower in the metal
  • A cycle turn window is eyed next week
  • A move over 1321 will turn us positive on XAU/USD

XAU/USD Strategy: Square.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

XAU/USD

1263

*1278

1292

1300

*1321

Focus Chart of the Day: DOW 30

Price & Time: Cue the "Most Hated Rally in History" Talk

The recent push to new highs in the main US stock indices has many thinking the “all clear” has been signaled and stocks are about to make another one of their patented celestial runs into the end of the year. One of the weirder pieces of analysis I have seen recently is an overlay of the Dow when it crossed 2000 and the S&P 500 now. Supposedly it has some very bullish implications. Frankly I don’t understand what one has to do with the other, but I am probably not one to judge as I myself have been known to use some far from mainstream analysis. Chatting with a colleague yesterday we realized there is little if any angst heading into the fall period this year. A far cry from years past. Personally I think this is a mistake, but also an interesting snapshot of current market psychology. Since the start of the year I have been writing about the mid-July to early September period and its potential to mark some sort of important inflection point in US stocks. The Dow put in a peak almost exactly in the middle of July and then sold off 5% over three weeks. I take this action as a sign that the cyclical analysis is on point. Heading into the end of this key cyclical period the Dow is right back at new highs. While most see this as positive, I see it as quite dangerous and setting us up potentially for some kind of secondary high as this key “turn window” closes. If we do get a clear high next week I think the stock market is in for a rocky few months.

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.