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. See our updated Privacy Policy here.

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
Oil - US Crude
Bullish
Wall Street
Bullish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 2.01% Gold: 1.07% Silver: 0.65% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xyCL2CYP7W
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.84% 🇬🇧GBP: 0.82% 🇨🇦CAD: 0.82% 🇨🇭CHF: 0.50% 🇪🇺EUR: 0.39% 🇯🇵JPY: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ibgs9CNXPa
  • Canadian Dollar Forecast: USD/CAD Surge Pulls Back - Loonie Levels https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/06/21/Canadian-Dollar-Forecast-USDCAD-USD-CAD-Surge-Pulls-Back-Loonie-Levels.html https://t.co/pUUcxN90SS
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.54% US 500: 1.27% FTSE 100: 0.15% Germany 30: 0.12% France 40: 0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/KEdjrQMxKp
  • Worth keeping in mind that up to 45% of polysilicon used in solar panels comes from Xinjiang
  • According to Politico the US is considering imposing a ban on polysilicon from Xinjiang
  • USD/JPY gives back the advance following the Federal Reserve interest rate decision as the 10-Year US Treasury yield slips to a fresh monthly low. Get your $USDJPY market update from @DavidJSong here:https://t.co/KnAbpYcdTM https://t.co/kKTJbNEyLZ
  • Heads Up:🇷🇺 Unemployment Rate (MAY) due at 16:00 GMT (15min) Expected: 5.2% Previous: 5.2% https://www.dailyfx.com/economic-calendar#2021-06-21
  • ECB's Lagarde says the ECB still has room to cut rates if needed $EUR
  • ECB's Lagarde says the ECN still has room to cut rates if needed $EUR
Price & Time: Important Couple of Days for EUR/JPY

Price & Time: Important Couple of Days for EUR/JPY

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • EUR/USD stuck between two Gann levels
  • AUD/USD rebounds off key Fibonacci convergence
  • Key cyclical period here for EUR/JPY

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: Important Couple of Days for EUR/JPY

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD remains in consolidation mode above the 1st square root relationship of the 2013 low near 1.2860
  • Our near-term trend bias remains lower in the rate while below the 1x2 Gann angle line of the year’s high near 1.2990
  • A close under 1.2860 is needed to trigger a further decline in the rate
  • An important turn window is eyed later in the month
  • A close below over 1.2990 would turn us positive on the euro

EUR/USD Strategy: Like holding reduced short positions while below 1.2990

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

1.2815

*1.2960

1.2915

1.2970

*1.2990

Price & Time Analysis: AUD/USD

Price & Time: Important Couple of Days for EUR/JPY

Charts Created using Marketscope – Prepared by Kristian Kerr

  • AUD/USD touched its lowest level since early March before finding support near the 61.8% retracement of the year’s range in near .8980
  • Our near-term trend bias is lower in the Aussie while below .9105
  • Weakness under .8980/60 is needed to clear the way for a new leg lower in the rate
  • An important cycle turn window is eyed later next week/early next week
  • A move over .9105 would turn us positive on AUD/USD

AUD/USD Strategy: Like holding reduced short positions while below .9105.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

AUD/USD

*.8960

.8980

.9010

.9065

*.9105

Focus Chart of the Day: EUR/JPY

Price & Time: Important Couple of Days for EUR/JPY

The Armstrong 8.6 month Pi cycle is one of my favorite intervals to monitor. Measuring this interval from important highs and lows is an easy and pretty effective way to incorporate cyclical analysis. I have found that more times than not the relationship will illicit some sort of market reaction. The unknown is duration. Today is 8.6 months from the big high last year in EUR/JPY. This time last week it looked like some sort of low would come out of this “turn window” as the cross was languishing near the lows of the year. The market, however, has thrown us a bit of a “curve ball” as the cross has rallied sharply over the past 5 days or so setting up a potential secondary high into this key period – an “inversion” in cyclical parlance. Inversions are not my favorite type of setup as they are prone to misinterpretation, but on the plus side they do offer opportunities to align oneself with the broader trend. In the case of EUR/JPY, the levels seem pretty clear and well defined. This morning the cross touched the 3rd square root relationship of the year’s low near 103.20 before reversing. The 38% retracement of 2013/2014 decline is just above that at 139.55. If a meaningful reversal is setting up here I would expect this resistance zone to hold.

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