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
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Mixed
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
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 0.03% Gold: -0.12% Oil - US Crude: -0.86% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/VEefc8HQ7a
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.02% 🇪🇺EUR: -0.02% 🇦🇺AUD: -0.03% 🇯🇵JPY: -0.09% 🇳🇿NZD: -0.11% 🇨🇭CHF: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rlRifz8HJ4
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.19% US 500: -0.39% Germany 30: -1.12% France 40: -1.14% FTSE 100: -1.17% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Buso4CQNX2
  • RT @KyleR_IG: #Nikkei extends its tumble to find support around its 50-day MA. Still not buying this inflation narrative -- nominals aren't…
  • #Gold seemed to weaken after the Fed's consumer CPI survey crossed the wires But #XAUUSD is also perceived as an anti-inflation hedge Learn more about why the yellow metal might have did what it did and what to expect ahead in my briefing here - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2021/05/11/Gold-Price-Outlook-Turns-to-Fed-Speak-After-Consumer-Inflation-Expectations-Jitter.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/Cvg3rdlb69
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/QZ5d9anwxn
  • 🇳🇱 Inflation Rate YoY (APR) Actual: 1.9% Expected: 1.7% Previous: 1.9% https://www.dailyfx.com/economic-calendar#2021-05-11
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.89%, while traders in Wall Street are at opposite extremes with 77.13%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/sV6ncqn10p
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHHGbZ https://t.co/xkNb1VIrEN
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.10% 🇨🇦CAD: 0.08% 🇨🇭CHF: 0.06% 🇦🇺AUD: 0.03% 🇳🇿NZD: -0.03% 🇯🇵JPY: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/hxMR9a5jxI
Price & Time: Looking For USD To Reassert

Price & Time: Looking For USD To Reassert

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • USD/JPY stalls at key Fibonacci level
  • GOLD turns near important Gann level
  • The 1.2585 area looks critical for EUR/USD

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: Looking For USD To Reassert

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY stalled around the 108.20 61.8% retracement of the month-to-date range last week
  • Our near-term bias is positive on the exchange rate while above 105.90
  • A close over 108.20 is needed to set off a new leg higher in USD/JPY
  • A turn window is eyed over the next couple of days
  • A close below 105.90 would turn us negative on USD/JPY.

USD/JPY Strategy: Square.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

*105.90

107.15

107.90

*108.20

108.70

Price & Time Analysis: GOLD

Price & Time: Looking For USD To Reassert

Charts Created using Marketscope – Prepared by Kristian Kerr

  • XAU/USD has come under pressure over the past few days after failing near the 2nd square root relationship of the year’s low in the 1251 area
  • Our near-term trend bias is higher in the metal while above 1217
  • A close over 1251 is needed to over the next few days to reinvigorate hopes of a more important push higher
  • An important turn window is eyed mid-week
  • A close under 1217 would turn us negative on the metal

XAU/USD Strategy: Square.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

XAU/USD

1217

1224

1230

*1251

1264

Focus Chart of the Day: EUR/USD

Price & Time: Looking For USD To Reassert

I was looking for choppy to higher trading in EUR/USD during the month of October and I think it is fair to say we have gotten it. The time has come, however, to start looking for a resumption of the broader downtrend. My work with cycles and other timing methods suggests the correction is close to running its course and the exchange rate should turn down this week or next week at the latest. A convergence of the 78.6% retracement of the month-to date range and the 1x1 Gann angle line drawn off the year’s low suggests 1.2585 is an important downside pivot to watch over the next few days. Traction under this level should confirm a resumption of the downtrend in place since May and set the stage for a fairly steady decline into December. Should the Fed surprise this week, the euro would obviously extend its correction a bit longer, but even this looks like it would be limited to next week on a cycle basis. Key resistance looks to be 1.2835.

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