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
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
Oil - US Crude
Bullish
Wall Street
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Australian Dollar is up fractionally this week with Aussie stalling just below the yearly range highs. Here are the levels that matter on the $AUDUSD technical chart. Get your #currencies update from @MBForex here: https://t.co/jYzBK1qH4s https://t.co/gYj4tFbsGS
  • What is the road ahead for equities this coming week? Check out my fundamental outlook below! #DowJones #SP500 #DAX30 #FTSE100 https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2020/07/11/Dow-Jones-SP-500-DAX-30-FTSE-100-Outlook-Stocks-Week-Ahead.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/HjIBDKqwvO
  • #Gold price gains seem to depend on monetary stimulus expansion and may turn lower as contraction of the Federal Reserve’s balance sheet underpins the US Dollar. Get your #metals update from @DanielGMoss here: https://t.co/8NHLc8jdhw https://t.co/0YYKXqtY9V
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/OjTZOQEytM https://t.co/DDCWX1In7k
  • The US Dollar is pressured as rising coronavirus cases fail to dent 2021 GDP bets. Could the Singapore Dollar, Indonesian Rupiah, Philippine Peso and Malaysian Ringgit rise? Find out from @ddubrovskyFX here:https://t.co/u1qhaIGGoC https://t.co/kvFgxQjLb0
  • The ASX 200 and AUD/JPY are at risk of losses as cases of Covid-19 continue to climb in Victoria, Australia’s second-most populous state. Get your #ASX market update from @DanielGMoss here: https://t.co/O0LNvhy4eY https://t.co/mS9vLeVU5Y
  • The Dow Jones could fall based on positioning signals, will the growth-linked Australian Dollar and Canadian Dollar follow? If so, what are the technical barriers ahead? Find out from @ddubrovskyFX here:https://t.co/yJrlR5C00P https://t.co/W45z2yNjr0
  • Further gains in USD/IDR could be curbed as USD/PHP establishes a floor around 2017 lows. USD/MYR may fall next as USD/SGD fast approaches a key falling trend line.Get your #ASEAN currencies market update from @ddubrovskyFX here:https://t.co/9JgZm2n8Fl https://t.co/Yg6WSFxt8T
  • The New Zealand Dollar is aiming higher, with NZD/USD eyeing fresh yearly highs while AUD/NZD may be carving out a bearish Head and Shoulders chart pattern. Get your $NZDUSD market update from @DanielGMoss here:https://t.co/osFxXvq5xF https://t.co/zcmqsFR9tg
  • RT @FxWestwater: $EURUSD & $AUDUSD in Focus Ahead of #ECB, Jobs & Retail Sales - @DailyFX https://www.dailyfx.com/forex/market_alert/2020/07/10/eurusd-audusd-eur-usd-aud-usd-in-focus-ahead-of-ecb-jobs-retail-sales.html https://t.co/uBR27tPwgF
Price & Time: "Overlooked" Symmetry in the AUD/USD

Price & Time: "Overlooked" Symmetry in the AUD/USD

2015-01-08 13:30:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

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: "Overlooked" Symmetry in the AUD/USD

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY has moved steadily higher since rebounding off Fibonacci support near 118.00 on Tuesday
  • Our near-term trend bias remains lower in USD/JPY while below 120.80
  • A close under 118.50 is needed to confirm the start of a new leg lower in the rate
  • An important turn window is eyed Friday/early next week
  • A close over 120.80 would turn us positive on the dollar again

USD/JPY Strategy: Like selling on strength against 120.80.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

*118.50

119.40

119.80

120.00

*120.80

Price & Time Analysis: S&P 500

Price & Time: "Overlooked" Symmetry in the AUD/USD

Charts Created using Marketscope – Prepared by Kristian Kerr

  • S&P 500 has turned higher after testing key support around 2000 on Tuesday
  • Our near-term trend bias is higher while above 2000
  • The 1st square root relationship of the all-time high at 2046 is key near-term resistance with traction above needed to re-instill upside momentum
  • A minor turn window is seen on Friday
  • A close under 2000 would turn us negative on the index

S&P 500 Strategy: Like the long side while above 2000.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

S&P 500

*2000

2029

2040

*2046

2053

Focus Chart of the Day: AUD/USD

Price & Time: "Overlooked" Symmetry in the AUD/USD

I often get comments from readers on my charts. Some like them, while others complain about how cluttered they are. I will readily admit that they are pretty cluttered, but it is clutter with a purpose. I believe wholeheartedly in the concept of confluence when analyzing the x-axis of time and the y-axis of price. The way I see things the more techniques I can find converging on a price point the better. Maintaining these charts can be quite tedious, however, and often times lines here and there will be overlooked and forgotten. Occasionally these oversights will re-appear and produce some interesting symmetry. Take the Aussie for example. Over the past few weeks the exchange rate has been banging around a median line (black line on chart) that extends all the way back to the early 2013 high! Then earlier this week the pair found support at a Gann line (blue line) related to you guessed it the 2013 high. As Gann would say the 2013 high certainly seems to be “vibrating” with price at the moment.

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.