DailyFX.com -

Talking Points

  • EUR/USD cycle turn window this week
  • USD/JPY turns at key Fib level
  • Gold to turn higher?

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: In Search of A USD Correction

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY touched its highest level in almost four months last week before encountering resistance near the 50% retracement of the year’s range in the 103.10 area
  • Our near-term trend bias is higher in the exchange rate while over 101.50
  • A daily close over the 61.8% retracement of the April/May decline at 102.85 is needed to confirm a resumption of the trend
  • A very minor cycle turn window is eyed mid-week
  • A move under 101.50 would turn us negative on USD/JPY

USD/JPY Strategy: We like the long side while over 101.50.


Support 2

Support 1


Resistance 1

Resistance 2







Price & Time Analysis: GOLD

Price & Time: In Search of A USD Correction

Charts Created using Marketscope – Prepared by Kristian Kerr

  • XAU/USD has come under steady pressure over the past month or so
  • Our near-term trend bias is lower in the metal while under 1300
  • A vital support area is eyed between 1280 and 1262 and a close beneath the latter is really needed to signal that a more important decline is unfolding
  • An important cycle turn window is seen this week
  • A push back over 1300 would turn us positive on the metal

XAU/USD Strategy: Square into the turn window, but a move over 1300 would get us long.


Support 2

Support 1


Resistance 1

Resistance 2







Focus Chart of the Day: EUR/USD

Price & Time: In Search of A USD Correction

The move lower in EUR/USD over the past few months has been impressive. On Wednesday the euro touched the 50% retracement (1.3365) of the advance off last year’s April low before rebounding. Several cyclical methodologies suggest a turn higher should be seen this week (or at least attempted) which should lead to healthy counter-trend recovery through much August. Some final weakness over the next few days would not surprise, but we suspect that the 1.3365 level will probably hold - at least on a closing basis. A move through 1.3485 should be enough to confirm that a low of some kind is in place while new trend lows after Thursday would warn our budding positive view on the euro is wrong.

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!