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
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
GBP/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
USD/JPY
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
Mixed
Oil - US Crude
Mixed
Bitcoin
Bullish
More View more
Real Time News
  • Gold shifts down to test December 3rd lows $XAUUSD $GLD https://t.co/p4SVib99xC
  • White House Advisor Kudlow says the US appreciates China giving product waivers on AG products -BBG
  • Spot $EURUSD fluctuates +/- 36 pips on average in response to monthly US nonfarm payrolls data, which compares to +/- 4 pips on average otherwise. Get your EUR/USD market update from @RichDvorakFX here: https://t.co/75hjsD9NB9 https://t.co/2lL7I0nVQb
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.14% 🇯🇵JPY: 0.06% 🇦🇺AUD: -0.09% 🇨🇭CHF: -0.42% 🇪🇺EUR: -0.54% 🇨🇦CAD: -0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rnKHUSKJZE
  • And, if you pair that strong NFPs beat to the biggest drop in Canadian jobs (-71,200) since January 2009, you get a $USDCAD move like this https://t.co/ijbs7NAkAM
  • Larry Kudlow says there are no plans for the US and China to meet at present, as time before the December 15 tariff hike dwindles $SPX
  • Hey traders! What market topic are you rooting for in the upcoming Trading Global Markets Decoded #podcast episode featuring @DailyFX Sr Currency Strategist, @IlyaSpivak and Analyst, @JMcQueenFX? Vote for your choice of topic below👇!
  • $DXY continues to move higher on upbeat NFP and U.Mich sentiment data from this morning https://t.co/vuT4KfgAyf
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.08% France 40: 0.98% US 500: 0.90% Germany 30: 0.58% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/YA0N8DY04i
  • Goldman shares spiking on rumors of a 1MDB settlement for $GS below $2 billion
Price & Time:Euro Volume & Sentiment Becoming Worrisome

Price & Time:Euro Volume & Sentiment Becoming Worrisome

2014-09-22 12:30:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

  • EUR/USD turnover failing to confirm recent drop
  • Gold nearing key support zone
  • USD/JPY touches important long-term trendline

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:Euro Volume & Sentiment Becoming Worrisome

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY reached new multi-year extremes late last week before stalling near a key long-term trendline connecting the 2002 & 2007 peaks around 109.50
  • Our near-term trend bias remains higher in USD/JPY while above 107.40
  • A close over 109.50 is needed to set up a new leg higher in the rate
  • An important turn window is eyed next week
  • A close under 107.40 would turn us negative on the rate

USD/JPY Strategy: Like holding reduced long positions above 107.40.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

*107.40

108.30

109.00

*109.50

109.75

Price & Time Analysis: GOLD

Price & Time:Euro Volume & Sentiment Becoming Worrisome

Charts Created using Marketscope – Prepared by Kristian Kerr

  • XAU/USD has come under steady pressure to trade at its lowest level since the start of the year
  • Our near-term trend bias remains lower while below 1240
  • Key downside pivots look to be 1203 and 1193
  • A cycle turn window of some importance is eyed over the next day or so
  • A close over 1240 would turn us positive on the metal

XAU/USD Strategy: Square.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

XAU/USD

*1193

*1203

1215

1228

*1240

Focus Chart of the Day: EUR/USD

Price & Time:Euro Volume & Sentiment Becoming Worrisome

I think the latter part of this week/first half of next week has the potential to be quite significant for EUR/USD from a timing perspective. My reasons for this thinking are highlighted HERE. In addition to these timing elements I am also starting to see telltale warning signs of a reversal vis-à-vis volume and sentiment metrics. On the volume side the picture has begun to clearly shift over the past few sessions as turnover has dropped to below average levels as spot made new lows for the year. This is in sharp contrast to the action observed in July and August when EUR/USD broke to new trend lows on consistent levels of above average volume. This weak volume breakdown suggests the trend is nearing a potential exhaustion point. This interpretation is further supported by On-Balance-Volume (OBV) figures which have been diverging with the move lower in spot since about the start of the month. Perhaps the most significant development over the past few days is in sentiment which has seen pessimism towards the euro fall to its lowest level in years as the Daily Sentiment Index (DSI) touched just 3% EUR bulls this past Friday. Such extreme one way conviction in the direction of the market has been a reliable contrarian indicator in the past ahead of important inflection points in the exchange rate. It looking like it will be again.

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.