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...
  • Japan PM pledges to invest $30 bn in Africa by 2018
    Japan PM pledges to invest $30 bn in Africa by 2018 AFP News - 11 minutes ago

    Japan will pour $30 billion of investments into Africa by 2018, including $10 billion in infrastructure development, Prime Minister Shinzo Abe said Saturday at a summit in Nairobi. Abe is using the conference to meet dozens of leaders from across … More »

  • German finance minister says ECB's low interest rates 'harmful'
    German finance minister says ECB's low interest rates 'harmful' Reuters - 1 hour 17 minutes ago

    German Finance Minister Wolfgang Schaeuble on Saturday renewed his criticism of the European Central Bank's low interest rates, saying they were particularly damaging for people saving up for their retirement. "In the long run, the consequences of … More »

  • Japan’s Abe Dangles $30 Billion at Africa Leaders in Nairobi (1) Bloomberg - 1 hour 32 minutes ago

    The Asian economy’s planned investment in the continent of 1.2 billion people shows it has “faith in Africa’s future,” Abe told the heads of states gathered in Kenya’s capital, Nairobi, for the sixth Tokyo International International Conference on … More »

  • Stada shareholder AOC pushes through board reshuffle
    Stada shareholder AOC pushes through board reshuffle Reuters - 1 hour 50 minutes ago

    Activist investor Active Ownership Capital (AOC) succeeded in convincing shareholders of Stada (STAGn.DE) to remove the German drugmaker's supervisory board chairman in a voting marathon, but failed to install its candidate in the post. The … More »

  • Japan pledges $30 billion for Africa over next three years Reuters - 2 hours 13 minutes ago

    Japanese Prime Minister Shinzo Abe told African leaders on Saturday that his country will commit $30 billion in public and private support for infrastructure development, education and healthcare expansion in the continent. Resource-poor Japan has … More »

  • Iran detects malware in petrochemical plants, says not linked to recent fires Reuters - 2 hours 26 minutes ago

    Iran has detected and removed malicious software from two of its petrochemical complexes, a senior military official said on Saturday, after announcing last week it was investigating whether recent petrochemical fires were caused by cyber attacks. … More »

  • A monumental task: Getting Mainers to support a new park
    A monumental task: Getting Mainers to support a new park Associated Press - 2 hours 46 minutes ago

    Among the empty storefronts on once-bustling Penobscot Avenue, longtime resident Jean McLean stood in her art gallery, the sole employee left at a business that once had three. "Right now, it's pretty ... … More »

  • Exclusive - Iraq plans to sell oil through Iran if talks with Kurds fail Reuters - 3 hours ago

    Iraq's government would consider selling crude through Iran should talks with the autonomous Kurdish region on an oil revenue-sharing agreement fail, a senior oil ministry official in Baghdad told Reuters. Iraq's State Oil Marketing Organisation … More »

  • Iraq willing to play active role in propping up oil prices - minister
    Iraq willing to play active role in propping up oil prices - minister Reuters - 3 hours ago

    Iraq is willing to play an active role within OPEC to support oil prices, its oil minister Jabar Ali al-Luaibi said on Saturday, without clarifying whether it was prepared to back a possible agreement to freeze output. "Iraq is seeking to play an … More »

  • Exlusive - Iraq plans to sell oil through Iran if talks with Kurds fail
    Exlusive - Iraq plans to sell oil through Iran if talks with Kurds fail Reuters - 3 hours ago

    Iraq's government would consider selling crude through Iran should talks with the autonomous Kurdish region on an oil revenue-sharing agreement fail, a senior oil ministry official in Baghdad told Reuters. Iraq's State Oil Marketing Organisation … More »

  • When death comes to stay: one Italian village's story
    When death comes to stay: one Italian village's story AFP News - 4 hours ago

    Nowhere was hit harder by the earthquake that brought death and devastation to a remote corner of central Italy this week than Saletta. Fewer than 20 people are permanent residents of the picturesque hamlet. On Wednesday, with the population … More »

  • Stronger Case for Fed Rate Rise Increases Volatility in Asia Bloomberg - 4 hours ago

    The Fed next meets Sept. 20-21 just hours after the Bank of Japan announces the results of its comprehensive review and decides policy, with Bank of Japan Governor Haruhiko Kuroda saying the review wouldn’t lead to a shrinking of policy. "A rate … More »

  • US, Russia move closer to new Syria ceasefire after talks
    US, Russia move closer to new Syria ceasefire after talks AFP News - 7 hours ago

    Washington and Moscow have made key steps towards agreeing a new ceasefire in Syria, but a final deal has not been reached, US Secretary of State John Kerry and his Russian counterpart said after talks Friday. Kerry and Russian Foreign Minister … More »

  • VTTI says it resumes operations at Malaysia terminal Reuters - 10 hours ago

    SINGAPORE, Aug 27 (Reuters) - VTTI, the storage unit of world's largest oil trader Vitol, said late on Friday it has resumed operations at its Malaysia terminal ATT Tanjung Bin (ATB). "The suspension ... … More »

  • Most Read on Bloomberg: Good-But-Busted ETFs, Drifting Stocks Bloomberg - 10 hours ago

    (Bloomberg) -- The most-read Bloomberg News reports from the past week are listed below. The rankings are based on daily statistics through Aug. 27. … More »

  • China July industrial profits rise, buoyed by increased sales, falling costs Reuters - 12 hours ago

    Profits earned by China's industrial firms grew at their fastest pace in four months in July, aided by a pick-up in sales and reduced costs, the statistics bureau said on Saturday. Profits in July rose 11.0 percent to 523.01 billion yuan, the … More »

  • 4 Lessons I Learned After Marrying My Foreigner Wife DollarsAndSense.sg - 13 hours ago

    Discuss your past. Discuss your future. The post 4 Lessons I Learned After Marrying My Foreigner Wife appeared first on DollarsAndSense.sg. … More »

  • Business Highlights Associated Press - 15 hours ago

    ___ Yellen suggests rate hike is coming but offers no timetable Federal Reserve Chair Janet Yellen said Friday that the case for raising interest rates has strengthened in light of a solid job market and ... … More »

  • California governor signs bill banning coal-export funding Associated Press - 16 hours ago

    California Gov. Jerry Brown signed legislation Friday banning state transportation funding for new coal export terminals. The bill represents a victory for environmentalists as they campaign aggressively ... … More »

  • Dollar rises following Yellen remarks on rate hikes AFP - 17 hours ago

    The dollar rose Friday against the euro, the yen and the British pound following remarks from the US central bank favoring a near-term increase in interest rates. In a much-anticipated address, US Federal ... … More »

  • Global markets drift after Yellen speech
    Global markets drift after Yellen speech AFP News - 17 hours ago

    European and US equities markets were split on Friday after US Fed chief Janet Yellen suggested interest rates could rise in the near-term. In words carefully parsed by market watchers, Yellen said recent months had seen conditions in the US … More »

  • How the Dow Jones industrial average fared on Friday Associated Press - 18 hours ago

    Stocks ended on a weak note Friday after Federal Reserve officials said the case has strengthened for raising interest rates above the super-low levels that have helped fuel a seven-year bull market. Phone ... … More »

  • Stocks end mostly lower after Yellen speech
    Stocks end mostly lower after Yellen speech Associated Press - 18 hours ago

    Stocks ended mostly lower on Friday after Federal Reserve officials said the case has strengthened for raising interest rates above the super-low levels that have helped fuel a seven-year bull market. ... … More »

  • UN ready to help Colombia peace deal
    UN ready to help Colombia peace deal AFP News - 18 hours ago

    The UN Security Council on Friday warmly welcomed the historic peace deal reached between Colombia's government and FARC rebels, and pledged to help ensure the agreement takes hold. The council met behind closed doors two days after the Bogota … More »

  • Kerry, Lavrov hold marathon Syria talks
    Kerry, Lavrov hold marathon Syria talks AFP News - 18 hours ago

    US Secretary of State John Kerry and Russian Foreign Minister Sergei Lavrov held marathon talks in Geneva on Friday for an expected push towards resuming peace talks for war-ravaged Syria. Asked during a break how the meeting was proceeding, Lavrov … 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
    0.129+0.001+0.78%
    N21.SI
    1.855-0.040-2.11%
    MC0.SI
    2.84+0.02+0.71%
    C52.SI
    4.22-0.05-1.17%
    Z74.SI
    0.58-0.01-1.69%
    5TP.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.29+0.08+38.10%
    5VI.SI
    0.36+0.07+22.03%
    BPF.SI
    0.192+0.030+18.52%
    AYD.SI
    0.27+0.04+17.39%
    BLU.SI
    0.40+0.05+14.29%
    BFK.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.205-0.055-21.15%
    BTJ.SI
    0.34-0.06-15.00%
    BCD.SI
    0.39-0.06-13.33%
    AYB.SI
    0.31-0.04-11.43%
    5VP.SI
    0.24-0.02-9.43%
    BAZ.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3582+0.0051+0.38%
    USDSGD=X
    1.5196-0.0071-0.47%
    EURSGD=X
    1.7809-0.0034-0.19%
    GBPSGD=X
    74.6820+0.437+0.59%
    SGDJPY=X
    5.7047-0.0235-0.41%
    SGDHKD=X
    2.9663+0.0023+0.08%
    SGDMYR=X
    9,748.1885-70.3965-0.72%
    SGDIDR=X
    4.9062-0.0141-0.29%
    SGDCNY=X
    1.0263-0.0043-0.42%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,324.00-0.60-0.05%
    GCZ16.CMX
    18.63+0.14+0.76%
    SIU16.CMX
    95.80-0.72-0.74%
    ^XAU
    2.080.00+0.10%
    HGU16.CMX
    47.29-0.04-0.08%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.24+0.08
    ^FVX
    1.63+0.06
    ^TNX
    2.30+0.03
    ^TYX