DailyFX.com -

Talking Points

  • EUR/USD testing critical support area
  • Gold rebounds off Key Fib level
  • USD/JPY enters into important two week period

Get real time volume on your charts for free. Click HERE

Foreign Exchange Price & Time at a Glance:

Price & Time Analysis: EUR/USD

Price & Time: USD/JPY Continues to Disappoint

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD traded at its lowest leve in over 5-months on Friday before rebounding off 1.3500
  • Our near-term trend bias is lower in the euro
  • Key support levels remain 1.3500 and 1.3460 with weakness below the latter required to signal the start of a more significant decline
  • A cycle turn window is eyed later this week
  • A move back over 1.3650 is required to relieve immediate downside pressures

EUR/USD Strategy: Like holding reduced short positions while below 1.3560.


Support 2

Support 1


Resistance 1

Resistance 2







Price & Time Analysis: GOLD

Price & Time: USD/JPY Continues to Disappoint

Charts Created using Marketscope – Prepared by Kristian Kerr

  • GOLD found support last week at the 50% retracement of the June/July advance
  • Our near-term trend bias is higher in the metal while over 1280
  • Interim resistance remains near 1321, but a move through 1337 is needed to confirm an upside resumption
  • A minor cycle turn window is eyed Tuesday
  • A daily close under 1280 will turn us negative on the metal

GOLD Strategy: Like holding long positions against 1280.


Support 2

Support 1


Resistance 1

Resistance 2







Focus Chart of the Day: USD/JPY

Price & Time: USD/JPY Continues to Disappoint

The second half of the month looks quite important for USD/JPY. The medium-term cyclical picture suggests the exchange rate will try to forge a low during this time. The first key period is eyed around the middle of this week and then there is another turn window around the end of the month. The real tricky part is determining where a reversal might try to take place. Risk certainly seems to be increasing for a final spike lower given the lack of upside momentum recently vis-à-vis global equities. However, with the exchange rate at the bottom of a well-defined 6-month range in a record low vol environment we can’t say with any certainty that it will break before moving higher. Given this lack of clarity of where a low might occur, we prefer to save the “mental capital” and just focus on a move through 102.25 (and then 102.85) as this would be strong evidence that an important move higher in underway. Until then it is just wait and see.

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. Investing News

    China’s Forex Reserves Dropped Significantly

    China’s forex​ reserves dropped by a record $93.9 billion at the end of August to $3.56 trillion because the Central Bank has been selling dollars to provide a cushion to the falling yuan​
  2. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  3. 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.
  4. 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 ...
  5. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  6. 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.
  7. 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.
  8. 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.
  9. 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.
  10. Entrepreneurship

    Top Forex Trading Apps

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

You May Also Like

Hot Definitions
  1. Take A Bath

    A slang term referring to the situation of an investor who has experienced a large loss from an investment or speculative ...
  2. Black Friday

    1. A day of stock market catastrophe. Originally, September 24, 1869, was deemed Black Friday. The crash was sparked by gold ...
  3. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  4. Barefoot Pilgrim

    A slang term for an unsophisticated investor who loses all of his or her wealth by trading equities in the stock market. ...
  5. Quick Ratio

    The quick ratio is an indicator of a company’s short-term liquidity. The quick ratio measures a company’s ability to meet ...
  6. Black Tuesday

    October 29, 1929, when the DJIA fell 12% - one of the largest one-day drops in stock market history. More than 16 million ...
Trading Center