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
Bearish
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.59%, while traders in Wall Street are at opposite extremes with 79.44%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/zhxgCxuRja
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 0.72% Oil - US Crude: 0.52% Gold: 0.17% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/cwqmxM5Abs
  • RT @ZabelinDimitri: Hello there, traders It’s been a while. Some news: I will be occasionally publishing reports once again for DailyFX as…
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.49% 🇨🇦CAD: 0.07% 🇦🇺AUD: 0.07% 🇳🇿NZD: -0.07% 🇪🇺EUR: -0.13% 🇯🇵JPY: -0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/6vzGUOMy7t
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: France 40: 0.55% FTSE 100: 0.46% Germany 30: 0.32% Wall Street: 0.31% US 500: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/1lvmfOWWh7
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: https://t.co/bTXkGN1CIM #DailyFXGuides https://t.co/JkBv8Bfa9W
  • Crude Oil Prices Climb on Major US Pipeline Disruptions, Weaker USD https://www.dailyfx.com/forex/market_alert/2021/05/10/Crude-Oil-Prices-Climb-on-Major-US-Pipeline-Disruptions-and-a-Weaker-USD.html https://t.co/3kcBXyMIoh
  • Wall Street Futures Update: Dow Jones (+0.27%) S&P 500 (+0.18%) Nasdaq 100 (+0.06%) [delayed] -BBG
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/nD75SqMrxd
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.66%, while traders in France 40 are at opposite extremes with 79.92%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/0X721EyXki
Price & Time: Euro Correction Already Over?

Price & Time: Euro Correction Already Over?

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • USD/JPY holds above key moving average
  • GBP/USD rebounds sharply from multi-year lows
  • EUR/USD intraday volatility continues

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: Euro Correction Already Over?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY traded at its lowest level in three weeks yesterday before finding support around the 50-day moving average in the 119.30 area
  • Our near-term trend bias is positive while above 119.30
  • A move through 121.00 is needed to re-instill upside momentum in the exchange rate
  • A minor turn window is seen here
  • A close below 119.30 would turn us negative on USD/JPY

USD/JPY Strategy: Like the long side while above 120.00 (close).

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

*120.30

120.50

120.55

121.00

*122.00

Price & Time Analysis: GBP/USD

Price & Time: Euro Correction Already Over?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • GBP/USD touched its lowest level in over four and a half years on Wednesday before rebounding five big figures
  • Our near-term trend bias is now higher in Cable while above 1.4720
  • Traction over 1.5050 is needed to set off a new leg higher in the rate
  • A very minor turn window is seen early next week
  • A close below 1.4720 would turn us negative on the pound again

GBP/USD Strategy: Square

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

GBP/USD

*1.4720

1.4800

1.4910

*1.5050

1.5140

Focus Chart of the Day: EUR/USD

Price & Time: Euro Correction Already Over?

The question on everybody’s mind after yesterday’s Fed inspired squeeze on USD long positons is whether that was it and the dollar can now resume higher or does the correction have more room to run? Judging by the action this morning it seems the market is scared of missing out on the next leg higher in the Greenbck as several pairs have already returned to pre-FOMC levels. Only time will tell whether this is the case, though it would be unusual to not see at least a period of minor consolidation first after such extreme volatility. In the euro, the 1.0550 area looks key with traction under this zone needed to confirm that a downside resumption is indeed underway. A move back over 1.0920 would warn that the correction has more room to run.

To receive Kristian’s analysis directly via email, please SIGN UP HERE.

--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com

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.

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