News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
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
Wall Street
Bearish
Gold
Mixed
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
GBP/USD
Mixed
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
Mixed
More View more
Real Time News
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here: https://t.co/UTWxbnNz7M https://t.co/W9awqb818J
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here: https://t.co/aVAzFypAg1 https://t.co/lucvsACxu5
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/UVvf51HiVP https://t.co/yywnE39MLU
  • The US Dollar is losing ground against ASEAN FX, with USD/SGD and USD/IDR possibly readying to extend declines. Will USD/PHP and USD/MYR follow? Find out from @ddubrovskyFX here: https://t.co/l705RWumj5 https://t.co/jBbMKYp0F5
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/YUhC9cCDpy
  • The US Dollar has spent much of October giving back September’s gains. Is there any hope for change? Get your #currencies update from @JStanleyFX here: https://t.co/3EHa6PV5yH https://t.co/PrP9J2klJk
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/UalZ8cRSXB https://t.co/wDVd2QvcjO
  • The longer-term EUR/USD outlook will hinge on Thursday’s ECB guidance; any hint of a further easing of Eurozone monetary policy would weaken it, but that is far from guaranteed. Get your #currencies update from @MartinSEssex here: https://t.co/RmHCfIwdqp https://t.co/hvETa6mtft
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true. Simplify your trading strategy with these four indicators here:https://t.co/A4dqGMPylo https://t.co/M8WTvZgx2K
  • The Australian Dollar was under selling pressure this past week, but it held its ground. Bearish patterns brew in AUD/USD and AUD/JPY. Will EUR/AUD, GBP/AUD try to break higher again? Get your #currencies update from @ddubrovskyFX here: https://t.co/04kzJSqgNG https://t.co/ulPk1UneMM
Gold Rejected at Chart Resistance, SPX 500 Attempting Cautious Bounce

Gold Rejected at Chart Resistance, SPX 500 Attempting Cautious Bounce

2014-06-17 05:58:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • US Dollar in Wait-and-See Mode at Key Trend Threshold
  • S&P 500 Attempting Cautious Bounce from Chart Support
  • Gold Recoils from Resistance, Crude Oil Vulnerable Anew

Can’t access to the Dow Jones FXCM US Dollar Index? Try the USD basket on Mirror Trader. **

US DOLLAR TECHNICAL ANALYSIS – Prices paused for a breather after last week’s aggressive downturn. A move below resistance-turned-support in the 10474-95 area has exposed pivotal rising trend line support set from July 2011 (now at 10429). A breach beneath this barrier on a daily closing basis clears the way for a challenge of a double bottom at 10375. Alternatively, a reversal back above 10495 opens the door for another test of 10531, the May 28 high.

Gold Rejected at Chart Resistance, SPX 500 Attempting Cautious Bounce

Daily Chart - Created Using FXCM Marketscope 2.0

** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.

S&P 500 TECHNICAL ANALYSISPrices turned lower as expected after putting in a Hanging Man candlestick.Near-term support is at 1924.10, the 14.6% Fibonacci retracement, with a break below that on a daily closing basis exposing the 23.6% level at 1904.50. This barrier is reinforced by the bottom of a rising channel guiding the index’s uptrend since mid-April (1908.40). Resistance is at 1955.90, the June 9 high, followed by the channel top at 1964.60.

Gold Rejected at Chart Resistance, SPX 500 Attempting Cautious Bounce

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS – Prices are moving lower after putting in a Bearish Engulfing candlestick pattern below support-turned-resistance at 1277.00, the underside of a recently broken Triangle formation. Near-term support is at 1248.96, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the June 3 low at 1240.23 and the 38.2% level at 1226.81. Alternatively, a move above 1277.00 eyes yesterday’s swing high at 1284.77.

Gold Rejected at Chart Resistance, SPX 500 Attempting Cautious Bounce

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS – Prices are stalling below resistance at 107.32, the 100% Fibonacci expansion, after jumping to the strongest level since mid-September 2013 late last week. Back-to-back indecision candles warn of ebbing bullish momentum and hint a reversal may be ahead. Support comes in at 105.96, the 76.4% Fib. A reversal below that initially aims for the 61.8% expansion at 105.12. Alternatively, a move above resistance targets the 123.6% level at 108.68.

Gold Rejected at Chart Resistance, SPX 500 Attempting Cautious Bounce

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

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

DISCLOSURES