DailyFX.com -

Talking Points

  • EUR/USD closes at lowest level in seven months
  • NZD/USD at multi-week low
  • Turn window in Gold next week

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: What Is Going On With Gold?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD closed at its lowest level in seven months on Friday before recovering modestly off the 6th square root relationship of the 2013 low near 1.3430
  • Our near-term trend bias is lower in the euro while below 1.3545
  • A daily close below a key Fibonacci confluence in the 1.3395 area is needed to set off a more material move lower
  • A very minor cycle turn window is tomorrow ahead of a more important one around the middle of next week
  • A move over 1.3545 would turn us positive on the euro

EUR/USD Strategy: A low next week would not surprise. We like holding only a reduced short position while under 1.3545.


Support 2

Support 1


Resistance 1

Resistance 2







Price & Time Analysis: NZD/USD

Price & Time: What Is Going On With Gold?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • NZD/USD has come under fairly aggressive pressure over the past few weeks
  • Our near-term trend bias is lower in the Bird while under .8650
  • The 78.6% retracement of the June /July advance at .8495 is an important near-term pivot with weakness below needed to set up a test of a major Gann attraction near .8460
  • The next important cycle turn window is seen early next week
  • A move over .8650 would turn us positive on the Kiwi

NZD/USD Strategy: Like the short side while below .8650.


Support 2

Support 1


Resistance 1

Resistance 2







Focus Chart of the Day: GOLD

Price & Time: What Is Going On With Gold?

The beginning of summer was important for Gold from a cyclical perspective as several key long-term relationships converged around that time. For this reason we believe the low at the start of June was significant and should lead to an important trend move higher during the second half of the year. However, over the past couple of weeks the metal has come under fairly steady pressure. The next important turn window is eyed around the middle of next week and the metal needs to turn back up around this time to confirm that our broader positive view is indeed correct. Key support over the next week looks to be between 1280 and 1270 and this area needs to hold.

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. 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!