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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • $GBPUSD is consolidating around the 1.3800 - 1.3850 level today, around a nearly one-month low. The pair hit a fresh multi-year high in late February before falling lower amidst a resurgence in USD strength as yields continue higher. $GBP $USD
  • US 10yr Treasury Yields are consolidating right around the 1.60% level today, trading around their highs of the pandemic. $USD
  • #Gold, #Silver, #Dollar, $AUDUSD, $USDCAD and #Bitcoin Technical Levels - Webinar Archive -
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.08% 🇬🇧GBP: -0.18% 🇦🇺AUD: -0.19% 🇯🇵JPY: -0.41% 🇪🇺EUR: -0.42% 🇳🇿NZD: -0.42% View the performance of all markets via
  • #Gold just hit a fresh multi-month low as the precious metal dropped to trade around the $1,680 level. The metal broke through support alongside the rise in yields in February, falling from around $1,800 to its current lows. $XAU $GLD
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Germany 30: 3.35% France 40: 2.17% FTSE 100: 1.38% Wall Street: 1.31% US 500: 0.88% View the performance of all markets via
  • Hey traders! Get your Monday market update from @DailyFX Chief Strategist @JohnKicklighter 👇
  • Really great article - apposite on International Women's Day but also a great read on the other 364 days of the year. @DailyFX h/t Weld Royal and Izaac Brook
  • $USDCHF has risen to fresh seven month highs today as the pair continues to trade above the 0.9300 level, at its highest levels since July of 2020. $USD $CHF
  • Germany 30 IG Client Sentiment: Our data shows traders are now at their least net-long Germany 30 since Jan 09 when Germany 30 traded near 14,102.20. A contrarian view of crowd sentiment points to Germany 30 strength.
Price & Time: Stock Market Correction Looming?

Price & Time: Stock Market Correction Looming?

Kristian A. Kerr,

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 obtained.

Foreign Exchange Price & Time at a Glance:


PT_Stock_Correction_body_Picture_4.png, Price & Time: Stock Market Correction Looming?

Charts Created using Marketscope – Prepared by Kristian Kerr

-USD/JPY continues to consolidate just under the 38% Fibonacci retracement of the 2007 to 2011 decline

- While the dollar holds above the second square root progression from last week’s high in the 92.00 area focus has to remain higher

- A close over the long-term retracement near 94.20 now needed to prompt further push higher towards a Fibonacci extension just above the 95 handle

- Some caution warranted over the next few days as our cyclical analysis suggests the pair is nearing a turn window

- Weakness under 92.00 especially on a closing basis needed to shift attention lower and open the way for a more severe decline

Strategy: While over 92.00 we have to favor the long side, but should the pair fall under this level in the next few days we would strongly contemplate a stop and reverse.


PT_Stock_Correction_body_Picture_3.png, Price & Time: Stock Market Correction Looming?

Charts Created using Marketscope – Prepared by Kristian Kerr

- AUD/USD found demand early in the week near the 1.0230 38% Fibonacci retracement of the late 2012 advance, but broader decline remains in force

- Friday’s failure by a convergence of the 38% retracement and 1x1 angle of the year-to-date range in the 1.0370 area keeps focus lower

- Weakness under the longer-term Fibonacci retracement now needed to trigger the next extension lower

- However, cycles indicate the next few days are significant and the potential for a turn of some signficance is high

- Close over the 1.0370 retracement needed to shift bias higher and signal a more important move is underway

Strategy: While under 1.0370 we like being short the Aussie, but keep stops tight. The next few days are key from a cyclical perspective and a reversal in trend is looking possible.


PT_Stock_Correction_body_Picture_2.png, Price & Time: Stock Market Correction Looming?

Charts Created using Marketscope – Prepared by Kristian Kerr

- EUR/GBP has found resistance over the past days at the 78.6% Fibonacci retracement of the early February decline

- Weakness from there has been mild and contained by a longer-term retracement in the .8575 area related to the 2011 to 2012 decline

- Near-term focus is higher, but strength over the cyclically significant year-to-date high near .8715 is really required to undermine this cycle and set up a more important advance

- While below .8715 risk remains that negative cyclical forces could re-assert for a deeper correction

- A minor Gann fan convergence near .8560 is now key support with a clear break of this level being the first sign that a bigger correction is indeed occurring

Strategy: Small long positions begrudgingly favored while over .8560, but if this level quickly gives way we will be looking to go the other way.

Focus Chart of the Day: S&P 500

PT_Stock_Correction_body_Picture_1.png, Price & Time: Stock Market Correction Looming?

Charts Created using Marketscope – Prepared by Kristian Kerr

We have written a lot of notes over the past few days about the possible importance from a time perspective of the coming week in the currency markets. When we near such turn windows we often look for corroborative evidence from instruments outside of FX as capital flow movements related to stocks and bonds are a major driver of movements in currency. In this analysis we noticed a very intriguing development in the US stock market that suggests it too is entering into a critical turn window over the next few days. We reached this conclusion because a pure Pi cycle equals 3,141 days. This frequency has materialized often in the stock market. For instance, the rise in the S&P 500 from the crash low in October 1987 to the March high 2000 took place over 3,141 trading days. One half a Pi cycle equals 1,570.5 days. This coming weekend will be precisely 4,711 calendar days (or 1.5 Pi cycles) from the March 24, 2000 “secular high” in the S&P 500. While a turn in stocks is far from guaranteed around such a frequency, its possibility does increase in our estimation - especially with the indices so extended and accompanying sentiment so ebullient.

--- Written by Kristian Kerr, Senior Currency Strategist for

To receive other reports from this author via e-mail, sign up to Kristian’s e-mail distribution list via this link.

New to forex? Sign up for our DailyFX Forex Education Series

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.