DailyFX.com -

Talking Points

  • EUR/USD testing key long-term pivot area
  • USD/CAD cycle turn window later this week
  • USD/JPY rebounds from range lows

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 Test for the Euro

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY is in recovery mode after finding support near the low end of its six month range
  • Our near-term trend bias is higher in the rate while above 101.05
  • The 102.25 area remains a key upside pivot with traction above needed to usher in a more significant advance
  • A cycle turn window is eyed here
  • A move back under 101.05 would re-shift focus lower

USD/JPY Strategy: Like going long on a move through 102.25.


Support 2

Support 1


Resistance 1

Resistance 2







Price & Time Analysis: USD/CAD

Price & Time: Key Test for the Euro

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/CAD is in consolidation mode near the 38% retracement of the June/July decline in the 1.0750 area
  • Our near-term trend bias is higher in Funds while over 1.0630
  • Strength through 1.0800 is needed to signal the start of a new leg higher in the rate
  • The end of the this week/early next week looks to be the next key cycle turn period for USD/CAD
  • A move under 1.0630 will turn us negative on the exchange rate

USD/CAD Strategy: Like the long side while above 1.0630.


Support 2

Support 1


Resistance 1

Resistance 2







Focus Chart of the Day: EUR/USD

Price & Time: Key Test for the Euro

We highlighted the chart above last week. It is a monthly chart of EUR/USD with key Fibonacci retracement and extension levels drawn off yearly highs and lows since 2008. This morning the exchange rate is testing the low end of a confluence zone. If the rate can manage a close sub 1.3460 this week we think it will be strong evidence that the euro is finally embarking on a more significant decline. More importantly this should set the stage for a generally weak second half of the year. In the longer-term scheme of things 1.3730 needs to be reclaimed to neutralize the negative picture.

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

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.

Related Articles
  1. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  2. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  3. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  4. Investing

    Financial News Comparison: Bloomberg Vs. Reuters

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  5. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
  6. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
  7. Forex

    Steps To Open An Offshore Forex Account

    Here is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
  8. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.
  9. Investing Basics

    The Risks Of Buying Bitcoin

    Virtual currency is probably here to stay, but what about Bitcoin specifically? Does it have a first-to-market advantage? What are the risks involved?
  10. Forex News

    How The Forex "Fix" May Be Rigged

    When it comes to forex, some types of "fixes" are legal. But some really aren't.
  1. No results found.

You May Also Like

Trading Center

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!