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
Bearish
Oil - US Crude
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
Wall Street
Bearish
Gold
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
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • GBP/USD is in full-retreat, falling below the 1.39 level as investors flock to $USD $GBPUSD https://t.co/QojEW8ksLC
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/arxYmtQeUn https://t.co/TUcaaK6R0T
  • White House Press Sec. Jen Psaki: President Biden believes that expenditures can be done on the backs of the wealthiest $USD
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.38% Gold: -0.70% Silver: -1.78% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/CYQirgCosh
  • All three major US indices fall into negative territory following President Biden's alleged proposal of higher capital gains taxes $SPX $NDX $DJI https://t.co/f0Bb21TCVX
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.13%, while traders in Wall Street are at opposite extremes with 68.84%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HxbR43UaUw
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: France 40: -0.51% Germany 30: -0.61% FTSE 100: -0.62% US 500: -1.02% Wall Street: -1.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/BjQHCsjqBg
  • OPEC Secretary General: - If US NOPEC bill is approved and signed into law, it could lead to fines on member countries - Members could face seizure of assets on US territory - Will contact US entities and make case against approval of bill #OOTT #OPEC $OIL
  • $NZDUSD fell to its lowest level since the beginning of the week today, dropping to an intraday low around the 0.7150 level. $NZD $USD https://t.co/WwtVzKz837
  • US Indices are trading lower on news of potential increases in the capital gains tax rate. DOW -0.77% SPX -0.62% NDX -0.56% RUT +1.08% $DIA $SPY $QQQ $IWM
Price & Time: EUR/USD Fails At Key Gann Resistance

Price & Time: EUR/USD Fails At Key Gann Resistance

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • Next 24 hours an important near-term cyclical inflection point for EUR/USD
  • USD/CHF holds key support zone
  • USD/JPY probes 117.00

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: EUR/USD Fails At Key Gann Resistance

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY briefly traded over 117.00 this morning before turning lower
  • Our near-term trend bias is positive in the exchange rate while above 114.85
  • A trendline connecting the August and early Septembr highs near 117.00 is interim resistance ahead of more important Gann/Fibonacci objectives at 117.40 and 118.00
  • Early December is the next turn window of signficance
  • A close below the 2nd square root relationship of the year’s high at 114.85 would turn us negative on USD/JPY

USD/JPY Strategy: Like the long side while over 114.85.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

*114.85

115.45

116.20

117.05

*118.00

Price & Time Analysis: USD/CHF

Price & Time: EUR/USD Fails At Key Gann Resistance

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/CHF fell to its lowest level in over two weeks earlier today before finding support ahead of the 2nd square root relationship of the year’s high in the .9540 area
  • Our near-term trend bias is higher in USD/CHF while above .9540
  • The October high near .9690 is interim resistance, but a move through .9740 is really required to signal that USD/CHF has resumed its broader trend
  • A minor turn window is eyed today
  • A close under the 2nd square root relationship of last week’s high at .9540 would turn us negative on the exchange rate

USD/CHF Strategy: Like the long side while over .9540.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/CHF

*.9540

.9600

.9610

.9690

*.9740

Focus Chart of the Day: EUR/USD

Price & Time: EUR/USD Fails At Key Gann Resistance

From a near-term cyclical perspective the next day or so should prove important for EUR/USD and shed some light on direction. We have been looking for the euro to turn back down around this time and this morning’s failure in the rate from just under the 2nd square root relationship of the year’s low at 1.2580 bodes well for this view. Follow on weakness tomorrow under today’s low (whatever it proves to be) will be a strong sign that the downtrend is indeed resuming. This would then set the stage for a test of the year’s 1.2356 low. However, unexpected aggressive strength over 1.2580 after today would invalidate the near-term negative cyclical view and warn the current upside correction has at least a few more days to run.

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

http://forms.aweber.com/form/10/1886603010.htm

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES