Price & Time: Key Price Points on the Horizon

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.

Foreign Exchange Price & Time at a Glance:

GBP/USD:

PT_Price_Point_body_Picture_4.png, Price & Time: Key Price Points on the Horizon

Charts Created using Marketscope – Prepared by Kristian Kerr

-Cable failed at the 1x8 Gann line from the 2007 high in early January and the decline that has followed remains in full force

- Aggressive weakness through a key Fibonacci cluster in the 1.5500 area over the past few days keeps focus immediately lower

- The 50% retracement of the 2009 range at 1.5250 now a key support level and the next key inflection point

- Cyclical turn window last week failed to elicit any sort of meaningful upside response and this is further evidence that the current downtrend is gaining strength

- Next minor turn window not seen until early next week

Strategy: Stay short with stops above 1.5405, but only over 1.5510 warns of a broader reversal.

AUD/USD:

PT_Price_Point_body_Picture_3.png, Price & Time: Key Price Points on the Horizon

Charts Created using Marketscope – Prepared by Kristian Kerr

- AUD/USD upside attempts continue to fail at the 38% retracement of the year-to-date range and this keeps our bias lower

- A 1x1 Gann angle drawn from the low close in 2012 now in the 1.0270-80 area is immediate support

- However, a close below the 38% Fibonacci retracement of the late 2012 advance near 1.0230 is required to prompt a more meaningful move lower

- Shorter-term focused cyclical techniques are positive over the next couple of days

- Only over 1.0370 during this time signals that a broader upmove is developing

Strategy: We like holding short postions in the Aussie while under 1.0370.

USD/CAD:

PT_Price_Point_body_Picture_2.png, Price & Time: Key Price Points on the Horizon

Charts Created using Marketscope – Prepared by Kristian Kerr

- USD/CAD convincingly broke above the 1x4 Gann line from the 2012 high early this week

- Subsequent strength has seen the 61.8% retracement of last year’s range easily overcome and focus is now higher

- Resistance now being found in the 1.0170 area which is a Fibonacci convergence of the 38% retracement of the 2011 range and the 161.8% extension of the early February move lower

- This level is likely a key near-term pivot with strength above required to trigger a move towards the next Fib zone near 1.0240

-Minor cyclical turn window seen around the end of the week

-Convergence of the aforementioned Gann line and a pitchfork line connecting January and February lows near 1.0085 now critical support

Strategy: Maintain long positions in Funds while the exchange rate is over 1.0085.

Focus Chart of the Day: USD/MXN

PT_Price_Point_body_Picture_1.png, Price & Time: Key Price Points on the Horizon

The Pi cycle related reversal we have been writing about looks to be playing out in the Kiwi. Further weakness below the .8345 second square root progression from last week’s high in the next few days will be more evidence that a move lower of greater magnitude is materializing. USD/MXN, on the other hand, has been less cooperative as the pair continues to meander in a pretty tight range. This is somewhat surprising given the extreme positioning in the Peso, though the lack of any real direction heading into the turn window does not help matters. We will give it a few more days before throwing in the towel on the notion of a dollar move higher, but strength over 12.8100 and probably 12.9000 is really needed. Should new lows be seen after the conclusion of this cyclical turn window then it will be a strong signal that the downtrend in USD/MXN still has more to go.

--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com

To receive other reports from this author via e-mail, sign up to Kristian’s e-mail distribution list via this link.

New to forex? Sign up for our DailyFX Forex Education Series

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
  • Oil prices down on profit-taking after two-day jump
    Oil prices down on profit-taking after two-day jump Reuters - 11 minutes ago

    Oil prices dropped on Friday as investors took profits following a 7-percent rise in the last two sessions, amid doubts that OPEC's first planned output cut in eight years would make a substantial dent in the global crude glut. Brent and U.S. crude … More »

  • Foxconn's Sharp to spend $570 million on OLED panel production
    Foxconn's Sharp to spend $570 million on OLED panel production Reuters - 14 minutes ago

    Japan's Sharp Corp said it will spend $570 million on its organic light-emitting diode (OLED) screen business - one of its first major investments since it was taken over by Taiwan's Foxconn although the amount pales in comparison to efforts by … More »

  • Oil prices down on doubts over OPEC deal AFP - 20 minutes ago

    Oil prices fell in Asia Friday as doubts emerged over the long-term success of a surprise OPEC agreement to cut output and stabilise the oversupplied market. The Organization of the Petroleum Exporting ... … More »

  • $1 Coal Mines Turn to Jackpots as China’s Cuts Power Rally (1) Bloomberg - 29 minutes ago

    Stanmore Coal Ltd. bought the Isaac Plains metallurgical coal mine in Australia for A$1 in July 2015 from Brazilian miner Vale SA and Japan’s Sumitomo Corp. when the price of met coal, used to make steel, averaged the lowest in about a decade and … More »

  • Sharp says to invest 57.4 billion yen in OLED business
    Sharp says to invest 57.4 billion yen in OLED business Reuters - 31 minutes ago

    Japan's Sharp Corp said on Friday it will invest 57.4 billion yen in its organic light-emitting diode (OLED) business as part of a shift towards the production of displays for use in smartphones, automobiles and flat-screen televisions. The … More »

  • Hong Kong Stock Selloff Pares Best Quarterly Advance Since 2009 Bloomberg - 33 minutes ago

    The Hang Seng Index dropped 1.3 percent at the midday break, paring its gain since the end of June to 13 percent. Bank of Communications Co. led a measure of financial companies lower, sliding 2.5 percent. Property companies fell for a second day, … More »

  • Matrade expresses relief over OPEC's production cut decision Business Times - 35 minutes ago

    KUALA LUMPUR: The Organization of Petroleum Exporting Countries (OPEC)’s decision to cut oil production is a boon for the oil and gas (O&G) industry.Malaysia External Trade Development Corporation (Matrade)’s chief executive officer Datuk Dzulkifli … More »

  • Music school hits right note for Kabul's street children
    Music school hits right note for Kabul's street children AFP News - 41 minutes ago

    The 20-year-old used to sell chewing gum in the streets of Kabul, until he passed an audition at the Afghan National Institute of Music (Anim) and his life changed tune. Ahmad Sarmast, the school's founder, believes children deserve a better life … More »

  • SE Asia Stocks-Lower as Deutsche Bank woes spook investors Reuters - 51 minutes ago

    By Anusha Ravindranath Sept 30 (Reuters) - Southeast Asian share markets fell on Friday tracking Asian peers as concerns over the stability of Germany's largest lender, Deutsche Bank, prompted investors ... … More »

  • Alarm Bells Sound in New York as Duterte’s Audit Roils Mines (2) Bloomberg - 51 minutes ago

    The threat to shutter about three-quarters of the nation’s mines risks savaging the country’s reputation among investors, according to the head of a company whose operations face suspension. “I just came from New York, and investors are very … More »

  • China factories limp along, Japan inflation goes backwards Reuters - 54 minutes ago

    China's factory sector struggled to gain speed in September while Japanese inflation went backwards in August despite the best efforts of policymakers, underscoring the limits of stimulus in reviving world growth. Friday's unflattering figures … More »

  • GLOBAL ECONOMY - China factories limp along, Japan inflation goes backwards
    GLOBAL ECONOMY - China factories limp along, Japan inflation goes backwards Reuters - 58 minutes ago

    China's factory sector struggled to gain speed in September while Japanese inflation went backwards in August despite the best efforts of policymakers, underscoring the limits of stimulus in reviving world growth. Friday's unflattering figures … More »

  • Malaysia's closing tin prices for Sept 30 Reuters - 1 hour 1 minute ago

    KUALA LUMPUR, Sept 30 (Reuters) - Following is a table of Kuala Lumpur tin market prices provided by a Malaysian trader. (Prices in $/tonne, and volumes in tonnes unless stated) Date KL Premium/ Spot Bid ... … More »

  • Yen's Stop Sign at 100 Signals Japan May Avoid Intervention (1) Bloomberg - 1 hour 8 minutes ago

    Japan’s currency has appreciated to within 0.1 percent of 100 three times since it last traded stronger than that level five weeks ago, and each time it has retreated. Traders say it is running into waves of sell orders, spurring speculation there … More »

  • This Alibaba app lets you ask strangers to deliver toilet paper
    This Alibaba app lets you ask strangers to deliver toilet paper Business Insider - 1 hour 26 minutes ago

    Shu Zhang/Reuters Jack Ma The joke has turned … Continued The post This Alibaba app lets you ask strangers to deliver toilet paper appeared first on Business Insider. … More »

  • US paper facing threats for endorsing Hillary Clinton
    US paper facing threats for endorsing Hillary Clinton AFP News - 1 hour 26 minutes ago

    A conservative Arizona newspaper is facing death threats and losing subscriptions after it broke with tradition by endorsing Hillary Clinton over Donald Trump for US president, a senior editor told AFP. The Phoenix-based Arizona Republic, the … More »

  • Get to Know the Exact Change Act
    Get to Know the Exact Change Act MoneyMax.ph - 1 hour 31 minutes ago

    You’ve probably had to deal with the issue of paying for something with a larger bill only to be asked for a smaller one instead. In other cases, you’ve probably gotten candy as change because the store didn’t have any coins or smaller bills. To … More »

  • Tokyo shares down by break on Deutsche Bank worries AFP - 1 hour 38 minutes ago

    Tokyo shares fell Friday morning as Deutsche Bank's woes dented financial firms while exporters were hit by a stronger yen. The weak start followed a slump on Wall Street where Deutsche Bank sank nearly ... … More »

  • Extraordinary HDB designs
    Extraordinary HDB designs The Edge Property - 1 hour 40 minutes ago

    There is a natural tendency to expect less when it comes to the furnishing of HDB flats. The familiar “simple and minimal” design does not evoke feelings of a warm welcome. Some young homeowners whose properties are featured here decided to buck the … More »

  • Asian stocks lower on renewed worries about banking sector
    Asian stocks lower on renewed worries about banking sector Associated Press - 1 hour 43 minutes ago

    Asian stock markets were lower on Friday as investor sentiment was dented by overnight losses on Wall Street and renewed worries about the health of Deutsche Bank. KEEPING SCORE: Japan's Nikkei 225 slumped ... … More »

  • Asian markets track US losses on Deutsch Bank worries
    Asian markets track US losses on Deutsch Bank worries AFP News - 1 hour 43 minutes ago

    Asian markets tumbled Friday, tracking a sell-off in New York as worries about the future of German banking giant Deutsche Bank hammered financial stocks. … More »

  • Bursa caps Teck Guan surge Business Times - 1 hour 55 minutes ago

    KUALA LUMPUR: Bursa Malaysia yesterday capped the surge in Teck Guan Perdana Bhd’s share price at RM1.78 after the stock hit limit up for two consecutive days. The surge followed Teck Guan’s announcement of a solid results for the second quarter … More »

  • Fintech group C88 raises undisclosed Series B round led by Telstra Ventures
    Fintech group C88 raises undisclosed Series B round led by Telstra Ventures e27 - 1 hour 55 minutes ago

    Existing investors Monk’s Hill Ventures and Kejora Ventures also took part in the round, with many others participating Fintech company Compare88 (C88) today announced that it has raised an undisclosed Series B round led by Telstra Ventures, with … More »

  • EPF looking at diversification Business Times - 1 hour 56 minutes ago

    HONG KONG: Malaysia’s largest pension fund is looking to diversify its investment portfolios in a bid to boost returns, according to chief executive officer Datuk Shahril Ridza Ridzuan. The Employees Provident Fund (EPF) planned to invest more in … More »

  • 3 investment lessons from the House of Cards
    3 investment lessons from the House of Cards Truewealth Publishing - 2 hours 0 minutes ago

    The political drama House of Cards – on Netflix at an internet connection near you – is about the fictitious rise to power in the American political system of ruthless politico Frank Underwood and his wife, Claire. Frank and Claire are fearlessly … More »

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.158-0.002-1.25%
    N21.SI
    0.12+0.01+12.15%
    40F.SI
    0.114+0.002+1.79%
    40E.SI
    3.97-0.05-1.24%
    Z74.SI
    0.965-0.015-1.53%
    Y92.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.164+0.016+10.81%
    40N.SI
    0.12+0.01+12.15%
    40F.SI
    0.69+0.04+5.34%
    BHU.SI
    0.215+0.010+4.88%
    1A4.SI
    0.23+0.01+4.55%
    B69.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.20-0.06-23.08%
    AWI.SI
    0.27-0.06-18.18%
    5VP.SI
    0.145-0.016-9.94%
    5PL.SI
    0.48-0.05-9.43%
    BQD.SI
    0.28-0.03-8.20%
    543.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3653+0.0013+0.10%
    USDSGD=X
    1.5314+0.0014+0.09%
    EURSGD=X
    1.7708+0.0027+0.15%
    GBPSGD=X
    74.1250+0.054+0.07%
    SGDJPY=X
    5.6781-0.0059-0.10%
    SGDHKD=X
    3.0331+0.0102+0.34%
    SGDMYR=X
    9,526.3750-16.3379-0.17%
    SGDIDR=X
    4.8845-0.0025-0.05%
    SGDCNY=X
    1.0408-0.0001-0.01%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,326.30+0.30+0.02%
    GCZ16.CMX
    19.17-0.02-0.12%
    SIZ16.CMX
    95.01-0.66-0.69%
    ^XAU
    2.18-0.01-0.32%
    HGZ16.CMX
    43.85+0.41+0.94%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    -1.13
    ^FVX
    -1.57
    ^TNX
    -2.29
    ^TYX