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
Mixed
Wall Street
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
Gold
Bearish
GBP/USD
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
USD/JPY
Bullish
More View more
Real Time News
  • US equities hovering near session lows in wake of the FOMC statement and press conference from Fed Chair Powell. The S&P 500 Index is currently trading -2.7% lower with 30-minutes to go until the close. $SPX $SPY $ES_F #Stocks https://t.co/pT56yQF4md
  • Fed Chair Powell: -Have not made decision on removing bank restrictions -Some housing tightness is passing phenomenon -Large increases in home prices unlikely to be sustained -Corporate defaults have been fewer than expected -We haven't seen as much scarring as we feared
  • Fed Chair Powell: -Emergency lending facilities were very helpful to economy -Haven't talked with US Treasury about emergency tools
  • Federal Reserve holds its policy interest rate and pace of asset purchases steady as expected. Get your $XAUUSD market update from @RichardSnowFX here:https://t.co/8CIIMYDUtr https://t.co/0U48GH20aM
  • Fed Chair Powell: -World has been struggling with disinflationary forces for a while -US inflation dynamics won't change much over near term -More concerned about recovery than pickup in inflation -Inflation resembling past decades seems unlikely
  • Fed Chair Powell: -Talk of tapering asset purchases is premature -Just too early to be talking about dates on tapering bond buying plans -Tapering would be gradual when we do it -Whole focus on exit is premature $SPX $NDX $DJI $USD $DXY $XAUUSD $TNX
  • Fed Chair Powell: -Pandemic, new virus strains still provide considerable downside risks -Will take quite a while to get to herd immunity -Vaccine rollout likely to be a struggle -Nothing more important to economy now than vaccinations
  • Fed Chair Powell: -Coming months' rise in inflation will be transient -We will be patient and not react when we see modest bumps in inflation -Very unlikely that we'll see troubling inflation -Not going to adopt a formula on inflation
  • Fed Chair Powell: -Financial vulnerabilities are 'moderate' right now overall -Asset prices have recently been driven by vaccines, fiscal steps -Link between interest rates and asset prices not so strong
  • Fed Chair Powell: -Fiscal response to economic downturn has been strong and sustained -We are a long way away from 'returning to normal' with about 9 million Americans still unemployed -The real unemployment rate is closer to 10% -Very appropriate to be highly accommodative
Price & Time: USD/SEK Leading The Way Again?

Price & Time: USD/SEK Leading The Way Again?

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • EUR/USD fails again near key moving average
  • GOLD cracks key retracement
  • USD/SEK records a new multi-year high

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/SEK Leading The Way Again?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD ran into resistance again near the 20-day moving average last week
  • Our near-term trend bias remains positive while above 1.1210
  • Interim resistance is seen around 1.1390, but a move over 1.1530 is really required to trigger a more meaningful push higher
  • A very minor turn window is seen on Tuesday
  • A close under 1.1210 would turn us negative on the exchange rate

EUR/USD Strategy: Like holding only reduced long positions while above 1.1210.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

*1.1210

1.1260

1.1310

1.1390

*1.1535

Price & Time Analysis: GOLD

Price & Time: USD/SEK Leading The Way Again?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • GOLD broke below the 50% retracement of the year’s range on Friday to trade at its lowest level in three weeks
  • Our near-term trend bias is negative while below 1274
  • The 61.8% retracement of the year’s range near 1220 is the next important pivot of note for the metal
  • A medium-term turn window is seen next week
  • A close over 1274 would turn us positive on Gold again

GOLD Strategy: Square.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

GOLD

*1220

1228

1241

1247

*1274

Focus Chart of the Day: USD/SEK

Price & Time: USD/SEK Leading The Way Again?

We have mentioned before in this space that oftentimes USD/SEK will lead broader moves in USD/Europe. We have never really been able to come up with a good explanation as for why this occurs and so often, but it is worth mentioning nonetheless. This morning USD/SEK is seemingly at it again as the exchange rate traded at its highest level in almost six years. With EUR/USD and other key European pairs having undergone sharp reversals in the direction of the primary trend on Friday we can’t help but wonder if the action in Dollar/Stokkie is just a precursor for all the rest. A close above 8.3850 is needed to confirm the breakout in USD/SEK while a close below 1.1210 in EUR/USD is required to confirm a resumption of the broader downtrend.

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