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. See our updated Privacy Policy here.

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
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
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
More View more
Real Time News
  • 🇯🇵 Balance of Trade (SEP) Actual: ¥-622.8B Expected: ¥-519.2B Previous: ¥-637.2B https://www.dailyfx.com/economic-calendar#2021-10-19
  • Heads Up:🇦🇺 Westpac Leading Index MoM (SEP) due at 00:00 GMT (15min) Previous: -0.3% https://www.dailyfx.com/economic-calendar#2021-10-20
  • Heads Up:🇯🇵 Balance of Trade (SEP) due at 23:50 GMT (15min) Expected: ¥-519.2B Previous: ¥-635.4B https://www.dailyfx.com/economic-calendar#2021-10-19
  • RT @Peter__Wood: @JKempEnergy Lots of copper demand on the horizon. Source https://t.co/qX6K1SAVRO https://t.co/WQr7kuf2sU
  • The New Zealand Dollar made new highs against the Japanese Yen but remained in a range trading environment against the Swiss Franc. Will NZD/CHF make new highs? Find out here: https://t.co/ULGSBe2tex https://t.co/YOxSxTKtqy
  • Gold prices are under pressure after China growth slowed and New Zealand inflation surged, with investors pricing in more aggressive central bank policy outlooks, which is supporting bond yields.Get your market update from @FxWestwater here:https://t.co/9Jiy8IKqQv https://t.co/YEib0pnKjk
  • Energy has been on a tear, with crude oil having recently broke above a major long-term threshold. Right around 77 was big resistance from a decade ago. Get your market update from @PaulRobinsonFX here:https://t.co/H9vnIzWSa1 https://t.co/KUs252TdkY
  • RT @BrendanFaganFx: Nasdaq 100 Outlook: Tech Stocks Continue Higher as Netflix Posts Strong Q3 Results $QQQ $NFLX $NDX $NQ_F Link: https:…
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.94% 🇦🇺AUD: 0.85% 🇬🇧GBP: 0.45% 🇨🇦CAD: 0.11% 🇨🇭CHF: 0.10% 🇯🇵JPY: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/JYVEZt8eqW
  • The Sterling breakout has is extended into uptrend resistance.. Get your market update from @MBForex here:https://t.co/UZuP6gAzi0 https://t.co/ytV4l5X3NG
Price & Time: The Sterling Threshold

Price & Time: The Sterling Threshold

Kristian Kerr, Sr. Currency Strategist

Talking Points

Get real time FXCM volume on your charts for free. Click HERE

Foreign Exchange Price & Time at a Glance:

Price & Time Analysis: USD/JPY

Price & Time: The Sterling Threshold

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY remains in consolidation mode above key support at 116.00/35
  • Our near-term trend bias remains positive while above 117.40 (closing basis)
  • Interim resistance is seen around 118.00, but traction over 118.85 is really needed to signal that a more important push higher is underway
  • A very minor turn window is seen here
  • A close under 117.40 would turn us negative on the exchange rate

USD/JPY Strategy: Square.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

*116.00/35

117.40

117.45

118.00

*118.85

Price & Time Analysis: S&P 500

Price & Time: The Sterling Threshold

Charts Created using Marketscope – Prepared by Kristian Kerr

  • S&P 500 has moved sharply higher over the past few days after finding support just ahead of the 200-day moving average
  • Our near-term trend bias is positive while above 1989
  • Interim resistance is eyed around 2046, but a move through 2067 is really needed to kick off a more important push higher
  • A minor cycle turn is eyed late this week
  • A close below 1989 would turn us negative on the index

S&P 500 Strategy: Like the long side while above 1989.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

S&P 500

*1989

2013

2044

2046

*2067

Focus Chart of the Day: GBP/USD

Price & Time: The Sterling Threshold

The fluctuation of prices is roughly proportional to the square-root of the price.

-Sir John Templeton

The 2nd square root relationship of the yearly low in GBP/USD has been a “magic” level of sorts over the past few weeks. The level calculated by taking the square root of the January 23rd 1.4950 low and multiplying by 2 and then adding it back to the low comes in around 1.5195. As the chart above shows this level has been very good resistance with recent advances stalling around there either intraday or on a closing basis. If one takes the prior yearly low of 1.5033 and does the same thing they will see the early January advance stalled out at just shy of 2 square roots. Our general rule of thumb with square roots in strongly trending markets is that “healthy” corrections should stay within 2 square roots of recent extremes. When a market finally does make a move above the 2 square root threshold it is usually a good indication that the corrective process is about to get more sloppy. Interestingly in cable the 2nd square root relationship roughly coincides with the neckline of a potential inverse head & shoulders pattern on the daily chart. The next day or so should prove key as a close above 1.5195 would be a strong sign that much more important counter-trend move is unfolding while a failure to gain any real traction above there would warn of an early downside resumption.

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