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
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • 🇳🇴 Unemployment Rate Actual: 3.6% Expected: 4% Previous: 3.5% https://www.dailyfx.com/economic-calendar#2020-05-27
  • Heads Up:🇳🇴 Unemployment Rate due at 06:00 GMT (15min) Expected: 4% Previous: 3.5% https://www.dailyfx.com/economic-calendar#2020-05-27
  • EU Foreign Affairs Minister Josep Borrell: EU to weigh 'robust' message to China over Hong Kong, China wants to influence global public opinion -BBG
  • Japan total bond issuance is said to rise above 200 trillion #Yen -BBG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.61%, while traders in US 500 are at opposite extremes with 75.59%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/e9Wte2ys3d
  • U.S. Market Analyst at https://t.co/JsVsSmefgR, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEbwiy https://t.co/4AzMu1F1Ph
  • My trading video for today: 'S&P 500 Can't Extend a Bullish Gap, Dollar Drop Cues $USDCAD, $NZDUSD Breaks' https://www.dailyfx.com/forex/video/daily_news_report/2020/05/27/SP-500-Cant-Extend-a-Bullish-Gap-Dollar-Drop-Cues-USDCAD-NZDUSD-Breaks.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/oSB23nRkfE
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.01% 🇨🇦CAD: -0.05% 🇨🇭CHF: -0.13% 🇬🇧GBP: -0.15% 🇦🇺AUD: -0.19% 🇪🇺EUR: -0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/N60kYwUinJ
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.86% US 500: 0.85% FTSE 100: 0.42% Germany 30: 0.42% France 40: 0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/511qP0ytab
  • (Sentiment Weekly) Signals from IG Client Sentiment hint that the FTSE 100 and S&P 500 could have room for weakness ahead as the CAC 40 attempts to climb towards key resistance #SP500 #FTSE100 #CAC40 - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/05/27/FTSE-100-SP-500-CAC-40-Forecasts-Analyzing-Signals-in-Positioning.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/5yVyQF6Jix
Price & Time: USD Head Fake?

Price & Time: USD Head Fake?

2014-11-18 13:15:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

  • EUR/USD rallies back above 1.2500
  • Monday’s range extremes critical in the Aussie
  • USD/CAD sentiment close to neutral

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: USD Head Fake?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD failed yesterday near the 2nd square root relationship of the year’s low at 1.2580
  • Our near-term trend bias is negative in the exchange rate while below 1.2580
  • A close under 1.2440 is now needed to confirm a resumption of the broader decline
  • Yesterday was a minor turn window
  • A close over 1.2580 would turn us positive on EUR/USD

EUR/USD Strategy: Like the shot side while below 1.2580.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

1.2355

*1.2440

1.2510

1.2535

*1.2580

Price & Time Analysis: AUD/USD

Price & Time: USD Head Fake?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • AUD/USD rallied to its highest level in two-weeks yesterday before stalling just shy of .8800
  • Our near-term trend bias is higher in the Aussie while above .8695
  • A move through .8800 is needed to trigger a more important leg higher in the exchange rate
  • A minor turn window is eyed today
  • A close under .8695 would turn us negative on AUD/USD

AUD/USD Strategy: Square

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

AUD/USD

.8630

*.8695

.8710

.8750

*.8800

Focus Chart of the Day: USD/CAD

Price & Time: USD Head Fake?

The extreme positive sentiment picture in some of the main USD pairs at moment remains a concern and has us wondering whether the Buck can develop any real upside momentum with so much of the market looking for the same thing? This contrarian skepticism is countered a bit by our cyclical analysis which continues to point to general dollar upside in the weeks ahead. What to do? We like shifting some attention to the USD pairs that aren’t exhibiting sentiment extremes as they should be able to develop upside momentum a bit easier if the dollar does turn back up in earnest. One of the more interesting exchange rates on that front at the moment is USD/CAD. Following a successful break of the March high and test of the 127% extension of the March-July decline the pair has undergone what looks like a healthy correction. This has cleared out the negative sentiment situation pushing DSI figures in the CAD to a more neutral 36% Bulls (compared to 9% in GBP or 11% in JPY). A move back through 1.1355 (and possibly even 1.1325) over the next few days would get us excited about an upside resumption. However, sustained weakness under 1.1250 would warn the correction has more room to run.

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.