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.

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
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
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
USD/JPY
Bearish
More View more
Real Time News
  • The outlook for the $EURUSD pair has worsened after its failure to move back to the high just above 1.20 touched on September 1 despite the #ECB’s decision earlier this month not to talk down the Euro. Get your #currencies update from @MartinSEssex here: https://t.co/kDCHxHgGlU https://t.co/Li4jHqaNdC
  • #USDollar Outlook Bearish on Mnuchin & Powell Testimonies, Key US Data ⬇️ https://www.dailyfx.com/forex/fundamental/forecast/weekly/usd/2020/09/20/US-Dollar-Outlook-Bearish-on-Mnuchin-Powell-Testimonies-Key-US-Data.html
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here: https://t.co/UTWxbnNz7M https://t.co/fuWSUDE1pT
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/eRTdlhAOFN
  • The Japanese #Yen may continue to exhibit a bullish behavior as the Bank of Japan (BoJ) appears to be in no rush to alter the path for monetary policy. Get your #currencies update from @DavidJSong here: https://t.co/HFjc6KGzRw
  • The New Zealand Dollar appears poised to extend its climb against its haven-associated counterparts as long-term trend break hints at cyclical upturn. Get your $NZDUSD market update from @DanielGMoss here: https://t.co/CPxP1Q8B6d https://t.co/n2wESiqnpJ
  • The US Dollar may rise against ASEAN currencies like the Singapore Dollar if local retail sales and sentiment data disappoints. USD/IDR may fall on the Bank of Indonesia. Get your market update from @ddubrovskyFX here:https://t.co/HpH8pXFdLl https://t.co/laHmaZXpJe
  • The US Dollar may rise against the Singapore Dollar and Philippine Peso. USD/MYR’s downtrend holds, but a bullish pattern brews. USD/IDR seems stuck between key technical levels.Get youe #ASEAN currencies market update from @ddubrovskyFX here:https://t.co/TF6DRVp6kX https://t.co/WEtxkdSwxD
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/UVvf51HiVP https://t.co/4wlRjBTCzK
  • The #Dollar has bottoming potential, but that is starting to lose weight as it fails to sustain any lift; next week could be a big one for #USD’s near-term outlook. Get your #currencies update from @PaulRobinsonFX here: https://t.co/IifHjik7gM https://t.co/R9b4jdTPnO
Price & Time: Deciphering the Short-Term USD Wiggles

Price & Time: Deciphering the Short-Term USD Wiggles

2014-10-23 12:00:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

  • EUR/USD stalls at key downside pivot level
  • S&P 500 testing key retracement zone
  • Important 24 hours for USD

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: Deciphering the Short-Term USD Wiggles

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD has come under steady pressure over the past few days after failing last week near the 1.2835 3rd square root relationship of the year’s low
  • Our near-term trend bias remains higher while above 1.2585
  • A move through 1.2745 is needed to re-instill any sort of upside momentume in the pair
  • A minor turn window is seen today ahead of a more important cyclical inflection point next week
  • A close under 1.2585 will turn us negative on the euro

EUR/USD Strategy: Square

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

*1.2585

1.2605

1.2665

1.2700

*1.2745

Price & Time Analysis: S&P 500

Price & Time: Deciphering the Short-Term USD Wiggles

Charts Created using Marketscope – Prepared by Kristian Kerr

  • S&P 500 has moved sharply higher over the past few days after finding support at the 161.8% projection of the late September decline in the 1820 area
  • Our near-term trend bias is negative in the index while under 1980
  • The 2nd square root relationship of the month’s low at 1908 is an important downside pivot
  • A turn window is eyed around the 1st week of next month
  • A close over 1980 will turn us positive on the index

S&P 500 Strategy: Square.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

S&P 500

*1908

1925

1939

1951

*1980

Focus Chart of the Day: FXCM US DOLLAR INDEX

Price & Time: Deciphering the Short-Term USD Wiggles

There is a lot of excitement in the air at the moment that the USD is resuming its broad advance. We are sympathetic to this view as the medium and longer-term cycles look pretty clearly positive for the Greenback over the next few months. The short-term wiggles are a little different story, however, as a few of the main currency pairs suggest that we could see a few more days of dollar weakness before the advance begins in earnest. The action over the next 24 hours or so should prove key in determining whether the correction of the past few weeks has more life in it or not as USD strength past today would be an incredibly strong signal that the Buck has indeed truly started higher. A key level to watch in the FXCM US Dollar Index (equally weighted USD basket) is 11,038. Failure to gain a foothold above this level today will warn that the correction isn’t quite finished.

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