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
  • The Nasdaq 100 gains modestly after Monday's sharp losses, but sentiment remains cautious ahead of the FOMC rate decision. Get your market update from @Tams707 here:https://t.co/HLDN2JGfAf https://t.co/mRhlLUBGq6
  • Ethereum continues its sharp slide, currently down more than 4.7% on the day $ETHUSD #Ethereum https://t.co/BoTAiljU0y
  • Rising energy prices weigh on European policymakers as consumers fear higher prices, carbon dioxide shortages (CO2), and cold winter. Get your market update from @Tams707 here:https://t.co/HLDN2JGfAf https://t.co/tWhlMrXN4G
  • US President Biden: - Will discuss a trade deal with UK PM Boris Johnson - I do not want to see a closure of Irish borders
  • AUD/USD continues to trend lower ahead of tomorrow's FOMC meeting. Further $USD strength could bring the August low into play $AUDUSD https://t.co/X3zfpYN8Qe
  • Nasdaq Ekes Out Small Gain As Focus Turns to FOMC, Uber Flies On Bullish Guidance $NDX $UBER #trading #FED https://t.co/1uL1Ao3o3v
  • 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
Price & Time: Kiwi - Down Before Up?

Price & Time: Kiwi - Down Before Up?

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • USD/JPY holds important Gann level
  • USDOLLAR bounces off minor retracement level
  • NZD/USD falls to new 4-year low

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: Kiwi - Down Before Up?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY broke below several minor retracements yesterday before finding support at the 3rd square root relationship of the year’s high at 122.45
  • Our near-term trend bias is lower in the exchange rate while below 124.80
  • A move under 122.00 is needed to set off a more important leg lower in the rate
  • A very minor turn window is eyed tomorrow
  • A close above 124.80 would turn us positive again on the pair

USD/JPY Strategy: Square.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

*122.00

122.45

123.75

123.75

*124.80

Price & Time Analysis: USDOLLAR

Price & Time: Kiwi - Down Before Up?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USDOLLAR came under further pressure yesterday to test the 50% retracement of the May-June range near 11,840
  • Our near-term trend bias is lower in the index whie below 12,050
  • Traction under 11,840 is needed to set off a more serious decline in the index
  • Very minor turn windows are seen tomorrow and around the middle of next week
  • A daily close over 12,050 would turn us positive on the index

USDOLLAR Strategy: Like selling on strength against 12,050.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USDOLLAR

11,790

*11,840

11,885

11,900

*12,050

Focus Chart of the Day: NZD/USD

Price & Time: Kiwi - Down Before Up?

We had more central bank inspired volatility overnight in the FX markets as the RBNZ decided to cut the OCR and hint at further cuts to in the near future. Not surprisingly, NZD/USD fell sharply in response to record a new low for the year. The exchange rate has been a leader to the downside since May, but some caution is required heading into next week as various forms of cycle analysis suggest that spot is susceptible to some sort of turn during this period (Wednesday focus). The .7000-.6980 area looks to be a clear potential reaction zone, but if this should give way we can’t rule out a move to as low as .6800 before any real basing attempts. The trendline connecting the late April and mid-May highs has been formidable resistance and traction above there (currently at .7200) is needed to confirm any sort of meaningful reversal.

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