We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bearish
GBP/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Bitcoin
Mixed
More View more
Real Time News
  • $EURUSD Daily Pivot Points: S3: 1.1039 S2: 1.1065 S1: 1.108 R1: 1.1106 R2: 1.1117 R3: 1.1143 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Event Risks for tomorrow includes $CAD Consumer Price Index (YoY) (DEC) and the BOC Rate Decision https://www.dailyfx.com/calendar?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr https://t.co/sQbtKMlcw9
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.29% 🇯🇵JPY: 0.28% 🇨🇭CHF: -0.04% 🇨🇦CAD: -0.17% 🇳🇿NZD: -0.17% 🇦🇺AUD: -0.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/zjiSWRqBuF
  • Changing of the guard for the $DJIA as Apple overtakes Boeing for the top spot on the index Elsewhere, $NFLX may drag on tech sentiment ahead of semiconductor earnings later this week Read more - https://www.dailyfx.com/forex/market_alert/2020/01/21/Dow-Jones-Nasdaq-100-SP-500-Outlook-Boeing-Netflix-Drag-on-Stocks.html https://t.co/P6UqlRNqUx
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Gold: -0.17% Oil - US Crude: -0.19% Silver: -1.51% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/8zR0iwBZO8
  • $USDJPY Daily Pivot Points: S3: 109.99 S2: 110.08 S1: 110.13 R1: 110.22 R2: 110.25 R3: 110.34 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • RT @ChadBown: 1 / 10 Trump's heralded trade deal with China rests on a $200 bn assumption: China will increase purchases of US exports by…
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.56%, while traders in Germany 30 are at opposite extremes with 80.56%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7aYb2Pa8TN
  • US and France have reached a ceasefire agreement regarding France’s digital services tax and the threat of retaliatory tariffs from the US. Get your market update from @FxWestwater here: https://t.co/upL9kvXa6y https://t.co/y7cGSWXuvN
  • Precious Metals Update: #Gold 1557.20 (-0.22%), #Aluminum 1812.00 (+0.39%), and #Copper 6259.00 (-0.22%) [delayed]
USD Graphic Rewind: Dollar Index All Set to Take Out 2010 Lows at 75.60

USD Graphic Rewind: Dollar Index All Set to Take Out 2010 Lows at 75.60

2011-03-18 06:58:00
Jonathan Granby,
Share:
USD_Graphic_Rewind_body_dxy3.png, USD Graphic Rewind: Dollar Index All Set to Take Out 2010 Lows at 75.60

The dollar index closed sharply lower Thursday after it was unable to retake the ground it lose early in Europe after strong auction results from Spain’s debt sale boosted the euro to fresh 2011 highs. A rally in global equities kept the greenback on the back foot throughout the rest of the day as players bought back into riskier assets. Appetite for risk has grown further over-night after some positive reports out of Japan regarding its developing nuclear crisis and the UN approved a no-fly zone over Libya and back air strikes against Gadaffi’s forces.

Over-night, however, price action took on a different note as trade was entirely dominated by the confirmation by the G7 that they will coordinate intervention to weaken the yen. The yen weakened across the board on the news, clearly visible above in the huge spike higher. The buck has been largely unable to hold much of its gains and trades only modestly higher on the day as the greenback remains largely unwanted despite further signs yesterday that the US economy continues its recovery at a healthy pace with consumer prices rising and weekly jobless claims falling.

USD_Graphic_Rewind_body_dxy1.png, USD Graphic Rewind: Dollar Index All Set to Take Out 2010 Lows at 75.60

As euro bulls now focus on November 2010 highs at 1.4280 it reasons that a move in Eur/Usd back to these levels will see the index break through its Nov. 2010 lows, which the indexes low from yesterday is only 20-points above. As such we have started to look lower to 2009 lows which come in just above 74.00 as the potential downside target and even 2008 and record lows below that in the 71.00 region. While these lows are still some way off the lack of favour for the buck at present leaves us little choice but to look lower, for now.

Written by Jonathan Granby, DailyFX Research Team

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.