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
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Mixed
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
Gold
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
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Technology stocks continue to be a source of weakness for US equities, undermining risk appetite. Meanwhile, US-China tensions simmer beneath the surface creating uncertainty. Get your #equities update from @PeterHanksFX here: https://t.co/yH8oTwT3iW https://t.co/tvfrXThyaC
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/Xi9QU3ADPF
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/cQwbeZ6Feq
  • #Oil prices saw a reprieve to the recent selling pressure but remain at risk while below downtrend resistance. Here are the levels that matter on the #WTI technical chart. Get your #commodities update from @MBForex here: https://t.co/CcXsF3JCMH https://t.co/RUmS1cX52v
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/5uSWKoLkd6 https://t.co/boEI8RuQdC
  • The growth-linked New Zealand Dollar may rise on the upcoming #RBNZ rate decision following rosy economic data. However, downside potential in the S&P 500 could offset $NZDUSD gains. Get your #currencies update from @ddubrovskyFX here: https://t.co/LfCe6C6G3P https://t.co/kUeBxxeaEf
  • It was a quiet week in Aussie as $AUDUSD put in its second consecutive week of indecision. But taking a more granular look highlights the potential for a reversal scenario. Get your #currencies update from @JStanleyFX here: https://t.co/PPK20nubAf https://t.co/0nfmRRFNnz
  • The S&P 500 pushed the market's comfort with a head-and-shoulders pattern through Friday's close. What should we look for in technical patterns, overlapping fundamental tides and speculative positioning for the likes of $EURUSD next week? https://www.dailyfx.com/forex/video/daily_news_report/2020/09/19/EURUSD-Pressure-Building-while-Anxious-Traders-Weigh-Did-SP-500-Break.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/lgVJVwi8th
  • Sterling remains trapped by overarching fundamentals drivers and both $GBPUSD and $EURGBP are going to have to wait until the Brexit dust settles. Get your #currencies update from @nickcawley1 here: https://t.co/vF1K1cy0nd https://t.co/NSA7qiQihc
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:https://t.co/1oygcFMFNs https://t.co/d9EmTOHyTv
Price & Time: Key Timing Hurdle For Kiwi Downtrend

Price & Time: Key Timing Hurdle For Kiwi Downtrend

2015-08-25 14:45:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

  • Price & Time covers key technical themes daily and can be delivered to your inbox each morning by joining the distribution list: Price & Time
  • USD/JPY touches 7-month low
  • NZD/USD tests important confluence zone

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: Key Timing Hurdle For Kiwi Downtrend

ChartPrepared by Kristian Kerr

  • USD/JPY fell to its lowest level since mid-January yesterday before finding support around the 161.8% expansion of the June – July decline around 116.40
  • Our near-term trend bias is lower in the exchange rate while below 121.00
  • A close below a convergence of various Fibonacci and Gann levels around 117.80 is needed to set off a new leg lower in the rate
  • A very minor turn window is eyed Thursday
  • A daily close back over 121.00 would turn us positive on USD/JPY

USD/JPY Strategy: Like the short side while below 121.00.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

116.40

*117.80

119.55

120.60

*121.00

Price & Time Analysis: EUR/CAD

Price & Time: Key Timing Hurdle For Kiwi Downtrend

ChartPrepared by Kristian Kerr

  • EUR/CAD traded at its highest level since March of last year on Monday
  • Our near-term trend bias is positive on the cross while over 1.5060
  • A move through the March 2014 high around 1.5390 is needed to confirm the start of a new leg higher
  • A Fibonacci turn window was in play yesterday
  • A daily close below 1.5060 would turn us negative on the rate

USD/CAD Strategy: Like holding only a reduced long position while over 1.5060.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/CAD

*1.5060

1.5090

1.5185

1.5300

*1.5390

Focus Chart of the Day: NZD/USD

Price & Time: Key Timing Hurdle For Kiwi Downtrend

NZD/USD (like many other markets) seems to be at a key juncture. What makes kiwi particularly interesting is the timing this week as it marks a 38% retracement in time (0.382 being significant as it is 0.618 squared) of the distance between the August 2011 and the July 2014 highs. In the past we have been a bit dismissive of 38% time relationships and it has been to our detriment as some pretty key turns have occurred around this timing element. A notable example would be the reversal in EUR/USD in October 2006 as that occurred on a near perfect 38% time retracement of the 1985 Plaza Accord low (in the synthetic ECU) and the all-time traded low in the euro in October of 2000. Heading into this week we were thinking that the .6400 area in NZD/USD would be a natural attraction for the market as it is a clear confluence of Andrews, Gann and Fibonacci levels. Yesterday’s two big figure move below .6400 was clearly more than just an undercut of support from an intraday perspective, but interestingly the market came roaring back to finish the day just above this key price zone. Now the big question is - was that an important low? We are open to that possibility while .6400 continues to hold on a closing basis, but it would probably take a move through last week’s closing high to get us excited about the upside. Given the extreme volatility being witnessed at the moment, intraday probes below .6400 would not surprise, but a daily close below would raise the risk of a downside acceleration around this window.

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