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
More View more
Real Time News
  • Fedex Q1 Results: Revenues: $22.0B vs. $21.8B est. EPS $4.37 vs. $4.92 est. $FDX down roughly 2.25% AH
  • In this week's Macro Setup @CVecchioFX, discusses with @RiskReversal and @GuyAdami, news regarding property developer Evergrande weighing down US financial markets, and September's Fed meeting impact on assets. Tune into the markets now!https://t.co/dBgjbpXLXL https://t.co/WXLoq1O1PL
  • Copper demand continues to outstrip supply, according to the recent update from the International Copper Study Group. Get your $XAG market update from @CVecchioFX here:https://t.co/23ii112k1E https://t.co/xHZfC2sffQ
  • China to be carbon-neutral by 2060; country will stop building coal-powered projects abroad - BBG
  • Curious to know if this is because a) bailout by Beijing is still widely viewed as the base case scenario if contagion materializes and/or b) recent backstops implemented globally to curb financial market fallout have effectively supplanted left tail risk https://t.co/cFSXtb1WfQ
  • video uploaded from today's webinar https://t.co/CCrY3mYRjL
  • WTI crude rebounded nicely from session lows, now trading at $70.50 $CL #Oil #OOTT https://t.co/ik3wfuGZZe
  • RT @ZabelinDimitri: Regarding the Fed dot plot⬇️ "If another two officials were to move up their expectations for a rate increase into 2022…
  • Tonight will see Chinese markets open after a two day closure to observe mid-Autumn festival. Naturally, there will be increased focus and volatility given the current backdrop of Evergrande default concerns. Get your market update from @JMcQueenFX here:https://t.co/ky6vpyMup7 https://t.co/7TyDu8rl14
  • RT @RiskReversal: A pretty hot @MacroSetup this week, brought to you by @Nadex and @openexc. @GuyAdami & I warn the young, but mighty @CVec…
Price & Time: Key Break in Crude

Price & Time: Key Break in Crude

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • EUR/USD breaks key moving average
  • NZD/USD median line symmetry continues to influence
  • Crude cracks key resistance

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: Key Break in Crude

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD surged higher on Tuesday to test the 20-day moving average
  • Our near-term trend bias is lower in the euro while below 1.1200
  • A move under 1.0920 is needed to re-instill downside momentum in the rate
  • A very minor cycle turn window is eyed today/tomorrow
  • A close above 1.1200 would turn us positive again on the euro

EUR/USD Strategy: Like the short side while below 1.1200

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

*13.0920

1.1040

1.1110

1.1155

*1.1200

Price & Time Analysis: NZD/USD

Price & Time: Key Break in Crude

Charts Created using Marketscope – Prepared by Kristian Kerr

  • NZD/USD continues to fall along a median line channel
  • Our near-term trend bias is lower in the rate while below .7320
  • A convergence of Fibonacci levels near .7000 is the next big attraction of note
  • A very minor turn window is eyed today
  • Only a move over the trendline connecting the April and mid-May highs around .7320 would turn the technical picture positive

NZD/USD Strategy: Like the short side while below 1.5450

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

NZD/USD

.7000

.7080

.7145

.7200

*.7320

Focus Chart of the Day: CRUDE

Price & Time: Key Break in Crude

The bottom of a median line channel connecting the 2013 high, the 1st half of 2014 low and the 2014 high has proven to be very strong resistance. After several failed attempts to gain traction above the line in May, the commodity finally managed to close above this key pivot yesterday. This technical break should prove important as it also triggers a possible bullish continuation pattern on the daily chart. The next key level of resistance looks to be last month’s cyclical high around 62.50. A move through this level would invalidate the negative cyclicality we have written about over the past few weeks and set the stage for a much more powerful advance. Only unexpected aggressive weakness back under last week’s low around 57.75 would undermine the burgeoning positive technical structure.

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