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
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • RT @FxWestwater: Australian Dollar Outlook: $AUDUSD Unfazed by Falling Westpac Confidence Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/01/20/Australian-Dollar-Outlook-AUDUSD-Unfazed-by-Falling-Westpac-Confidence.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co/uSsC…
  • Japanese Yen Price Analysis: AUD/JPY, EUR/JPY Poised to Gain Ground - https://www.dailyfx.com/forex/technical/home/analysis/eur-jpy/2021/01/20/Japanese-Yen-Price-Analysis-AUDJPY-EURJPY-Poised-to-Gain-Ground.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $JPY $AUDJPY $EURJPY https://t.co/LUS1GfqGF5
  • Heads Up:🇮🇩 Business Confidence (Q4) due at 04:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-20
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.77% Silver: 0.67% Gold: 0.41% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/vqhNULQSZH
  • A Symmetrical Triangle and long-term trendline resistance provide key levels to watch for NZD/CHF and CAD/CHF. Get your market update from @FxWestwater here:https://t.co/kgfZ8qZRRz https://t.co/BhpXTXz5Ir
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.31% 🇨🇦CAD: 0.17% 🇬🇧GBP: 0.16% 🇪🇺EUR: 0.14% 🇳🇿NZD: 0.13% 🇨🇭CHF: 0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/U975Up5oUh
  • The #HSI looks set to re-challenge the 28,970 resistance. Will it succeed and attempt 30,000 mark today? https://t.co/ujmzRDsByq
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in EUR/JPY are at opposite extremes with 64.29%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/wdG2u51Kl2
  • Japanese Chief Cabinet Secretary Kato: - Vaccine schedule can't be fixed before approval - Tokyo area still facing severe Covid situation - BBG $USDJPY
  • The British Pound may continue gaining ground against its haven-associated counterparts in the near term. However, the currency may give up gained ground against the New Zealand Dollar.Get your $GBP market update from @DanielGMoss here:https://t.co/cIp4BfbsXT https://t.co/VS6g0Z3FKO
Price & Time: Waiting For Follow-Through in EUR/USD

Price & Time: Waiting For Follow-Through in EUR/USD

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • Downtrend trying to re-emerge in EUR/USD?
  • USD/JPY holds key Gann level
  • AUD/USD fails near key resistance

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: Waiting For Follow-Through in EUR/USD

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY remains in consolidation mode above the 3rd square root relationship of the 2014 high near 118.40
  • Our near-term trend bias remains positive while above 118.40
  • Interim resistance is seen around 119.65, but a move through 120.80 is really needed to signal that a more meaningful extension higher is underway
  • A very minor turn window is eyed tomorrow
  • A close below 118.40 would turn us negative on the exchange rate

USD/JPY Strategy: Like the long side while 118.40 holds.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

117.95

*118.40

119.10

119.65

*120.80

Price & Time Analysis: AUD/USD

Price & Time: Waiting For Follow-Through in EUR/USD

Charts Created using Marketscope – Prepared by Kristian Kerr

  • AUD/USD remains in consolidation mode below the 3rd square root relationship of the year’s low near .7885
  • Our near-term trend bias is negative while below .7885
  • The year’s closing low around .7715 remains a key downside pivot with weakness below needed to signal a resumption of the broader trend
  • A minor turn window is eyed mid-week
  • A close above .7885 would turn us positive on the Aussie

AUD/USD Strategy: Like the short side while below .7885.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

AUD/USD

*.7715

.7760

.7790

.7840

*.7885

Focus Chart of the Day: EUR/USD

Price & Time: Waiting For Follow-Through in EUR/USD

Choppy trade continues in EUR/USD. The pair did stall out during the key cyclical period we highlighted around the middle of last week, but so far declines have been held in check by Gann support around 1.1270. A clear break of this level is desperately needed to signal that the broader downtrend is indeed trying to re-assert itself. The 61.8% retracement of the all-time low and all-time high around 1.1210 is also key in this regard. Last week’s highs around 1.1450 should not be breached if the downtrend is resuming like we suspect, but it would really take a push through 1.1515 to signal that a more important move higher in the euro is unfolding.

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