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
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
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.22% 🇨🇦CAD: 0.06% 🇬🇧GBP: -0.01% 🇪🇺EUR: -0.19% 🇳🇿NZD: -0.21% 🇨🇭CHF: -0.35% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ypfFBvaizD
  • BoJ and PBoC extend currency swap arrangement - BoJ
  • Bundesbank says inflation to continue rising for the time being before gradually declining next year Full-year growth likely to be significantly below its June forecast for 3.7%
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.32% Germany 30: 0.16% US 500: 0.08% Wall Street: -0.00% France 40: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/GVe23x5Zx1
  • Futures have their own set of characteristics and appeal to different types of traders and investors for a variety of reasons. Get your free trading guide and learn to trade the markets with futures here. Download your guide today!https://t.co/72oKM0kLHL https://t.co/v0UsIhwJM1
  • Bank of Spain Governor De Cos says recent developments anticipate a significant downward economic outlook revision for 2021
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/qfhwaVKZdg
  • 🇩🇪 Ifo Business Climate (OCT) Actual: 97.7 Expected: 97.9 Previous: 98.8 https://www.dailyfx.com/economic-calendar#2021-10-25
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.03%, while traders in AUD/JPY are at opposite extremes with 79.26%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/sHDQodRxys
  • Heads Up:🇩🇪 Ifo Business Climate (OCT) due at 08:00 GMT (15min) Expected: 97.9 Previous: 98.8 https://www.dailyfx.com/economic-calendar#2021-10-25
Price & Time: Another 'Do Or Die' Week For EUR/USD

Price & Time: Another 'Do Or Die' Week For EUR/USD

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • EUR/USD nearing key cyclical inflection point
  • USD/JPY fails at key retracement
  • GBP/USD tests important Gann pivot

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: Another 'Do Or Die' Week For EUR/USD

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY reversed sharply on Friday from the 78.6% retracement of the December range near 120.50
  • Our near-term trend bias remains positive while above 118.40
  • Interim resistance is seen around 119.65, but a move through 120.50 is required to signal a resumption of the broader upmove
  • A minor turn window is eyed on Wednesday
  • A close below 118.40 would turn us negative on the exchange rate

USD/JPY Strategy: Like holding long positions while 118.40 holds.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

117.95

*118.40

118.55

119.65

*120.50

Price & Time Analysis: GBP/USD

Price & Time: Another 'Do Or Die' Week For EUR/USD

Charts Created using Marketscope – Prepared by Kristian Kerr

  • GBP/USD traded to its highest level in a month and a half this morning to test the 4th square root relationship of the year’s low near 1.5440
  • Our near-term trend bias is positive while above 1.5195
  • A close over 1.5440 is needed to trigger another leg higher in Cable
  • A medium-term window is seen tomorrow/Wednesday
  • A close below 1.5195 would turn us negative on GBP/USD

GBP/USD Strategy: Like holding only a reduced long position while above 1.5195.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

GBP/USD

*1.5195

1.5320

1.5430

*1.5440

1.5500

Focus Chart of the Day: EUR/USD

Price & Time: Another 'Do Or Die' Week For EUR/USD

It is shaping up to be an important week for EUR/USD as several key short and medium-term cyclical relationships are set to converge around the middle of the week. We should learn a lot about the nature of the current correction higher and whether it has more steam in it or is just about to peter out like all the rest. The reversal late last month in the euro came at the right time from a cyclical perspective and we were able to forecast it reasonably well (Read HERE). Our base case was that the correction would last a minimum of three weeks - which it has. Now the fun part, if the euro is going to follow the template of previous declines then it should top out sometime around Tuesday or Wednesday. A break below 1.1260 and more importantly 1.1210 would help confirm a broader downside resumption. On the other hand, continued strength past Wednesday into the latter part of the week would invalidate the turn window and signal an important change in behavior for the exchange rate. This would open the door to a few more weeks of upside for EUR/USD. The 1.1515 level looks to be a key upside closing pivot.

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