DailyFX.com -

Talking Points

  • Do or die for the euro
  • USD/CAD fails at key symmetry level
  • USD/SEK challenging key long-term retracement level

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/SEK the Tell?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD fell to its lowest level in almost nine months yesterday before rebounding just above the measured move of the May/June decline
  • Our near-term trend bias is lower in the euro while under 1.3450
  • The 1.3315/1.3300 area is the next major pivot zone
  • An important cycle turn window is seen this week
  • A move over 1.3450 would turn us positive on the euro

EUR/USD Strategy: Like only a minimal short position while below 1.3450. Will look to stop and reverse on a move through 1.3450.


Support 2

Support 1


Resistance 1

Resistance 2







Price & Time Analysis: USD/CAD

Price & Time: USD/SEK the Tell?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/CAD traded at its highs level in over three months yesterday before encountering resistance near the 261.8% projection of the early July advance in the 1.0990 area
  • Our near-term trend bias is higher in Funds while over 1.0875
  • A move through 1.0990 is needed to set up a new leg higher
  • A cycle turn window is eyed next week
  • A move under 1.0875 would turn us negative on the exchange rate

USD/CAD Strategy: Like the long side while over 1.0875.


Support 2

Support 1


Resistance 1

Resistance 2







Focus Chart of the Day: AUD/NZD

Price & Time: USD/SEK the Tell?

We are looking for a corrective phase in the USD in August pretty much across the board, but especially so against the European currencies. Several cyclical methodologies point to this week as a likely turning point. The ECB meeting today looks like an obvious catalyst as they have been over the past few months. While we will obviously be watching the euro intently we will also be keeping a close eye on SEK. In the past USD/SEK has often acted as a leader for broader USD movements, but more important in this case it is up against a key retracement level in the form of the 61.8% retracement of the 2012/2013 range at 6.9265. If we are right about a USD correction cycle beginning then this is an ideal level from where it should commence. A failure near here followed be a close under 6.8700 would confirm at least an interim high is in place. A daily close over 6.9265 would put our negative USD view in serious jeopardy.

To receive Kristian’s analysis directly via email, pleaseSIGN 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