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
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
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
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
GBP/USD
Bearish
USD/JPY
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
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.01%, while traders in US 500 are at opposite extremes with 77.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/nHiTp6tABc
  • #Yuan has been underperforming its #ASEAN peers (SGD, IDR, PHP, MYR) as US-China tensions have been resurfacing (over Hong Kong), as expected. Notice how #USD is flat as the #HangSeng fell. To learn more about CNY-ASEAN trends, check out my special here - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/04/17/Yuan-SGD-IDR-MYR-PHP-China-ASEAN-FX-Price-Trends-Since-2008.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/Dr0BHzuHQQ
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: -0.00% 🇨🇭CHF: -0.04% 🇬🇧GBP: -0.05% 🇳🇿NZD: -0.12% 🇨🇦CAD: -0.14% 🇦🇺AUD: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/HdkFaCg7sp
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.79% France 40: 0.78% FTSE 100: 0.72% Wall Street: 0.58% US 500: 0.17% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/tSax36Fh1j
  • So far this week, #CAD has been the best-performing #G10 FX versus #USD this week with +0.62% spot-returns while #JPY has been the worst with -1.12% [delayed] -BBG
  • A close below the low end of the aforementioned trading zone reflects a stronger bearish momentum and may send USD/CAD towards 1.3511. Get your $USDCAD technical analysis from @malkudsi here: https://t.co/NnyNajRjE9 https://t.co/f7fv8EX89F
  • My trading video for today: '$USDCNH Hits Series Record but Neither $AUDUSD nor S&P 500 Follow' https://www.dailyfx.com/forex/video/daily_news_report/2020/05/28/USDCNH-Hits-Series-Record-but-Neither-AUDUSD-nor-SP-500-Follow.html?ref-author=Kicklighter&QPID=917719&CHID=9
  • Silver has been beaten handily by gold in the rush to haven assets inspired by the contagion. However, the gold/silver ratio was rising steadily before this crisis and will probably continue to do so. Get your #silver market update from @DavidCottleFX here:https://t.co/00DiZn6XZS https://t.co/J9vu94TSZo
  • Bank of Korea🇰🇷 - Central bank to actively buy government bonds if needed - Considering various steps to stabilize bond markets (BBG) #coronavirus
  • Bank of Korea says US-China tension would be a downside risk to Korea - BBG Learn more about the impact of geopolitics on financial markets from @ZabelinDimitri - https://www.dailyfx.com/authors/Dimitri_Zabelin
USD Correction Coming to an End- Key Levels/Themes to Watch

USD Correction Coming to an End- Key Levels/Themes to Watch

2013-08-19 16:00:00
David Song, Strategist
Share:

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

10685.92

10690.61

10658.94

0.11

50.77%

USDOLLAR 30-Minute

Forex_USD_Correction_Coming_to_an_End_Key_LevelsThemes_to_Watch_body_ScreenShot312.png, USD Correction Coming to an End- Key Levels/Themes to Watch

Chart - Created Using FXCM Marketscope 2.0

Release

GMT

Expected

Actual

No Scheduled Releases

The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) is trading 0.11 percent higher from the open, largely driven by the weakness in the Australian dollar and the reserve currency may track higher ahead of the Fed Economic Symposium in Jackson Hole, Wyoming should the FOMC Minutes highlight an improved outlook for the U.S. economy.

Although the economic docket remains fairly light over the next 24-hours of trading, we’re seeing the reserve currency continue to carve a near-term base around the 38.2 percent Fibonacci expansion (10,652), and we may see a more meaningful rally ahead of the next Fed policy meeting on September 17-18 as scaling back on quantitative easing becomes a growing discussion at the central bank. Indeed, the dollar should continue to mark a series of higher highs paired with higher lows as the Fed looks poised to switch gears in the second-half of the year, and bullish sentiment surrounding the greenback may get carried into 2014 amid the shift in the policy outlook.

USDOLLAR Daily

Forex_USD_Correction_Coming_to_an_End_Key_LevelsThemes_to_Watch_body_ScreenShot313.png, USD Correction Coming to an End- Key Levels/Themes to Watch

Dallas Fed President Richard Fisher – who will serve on the FOMC in 2014 – argued that U.S. bond-yields are on the rise as market participants realize that ‘there’s not QE infinity,’ and favored tapering the asset-purchase program as the economic recovery gradually gathers pace.

Despite the growing arguments to halt the Fed’s easing cycle, we may need a more meaningful catalyst to see a move back above the 10,800 region, and the dollar remains poised to threaten the bearish trend carried over from the previous month as the outlook for growth and inflation improves.

Forex_USD_Correction_Coming_to_an_End_Key_LevelsThemes_to_Watch_body_ScreenShot315.png, USD Correction Coming to an End- Key Levels/Themes to Watch

AUDUSD Daily

Forex_USD_Correction_Coming_to_an_End_Key_LevelsThemes_to_Watch_body_ScreenShot314.png, USD Correction Coming to an End- Key Levels/Themes to Watch

Two of the four components weakened against the greenback, led by a 0.52 percent decline in the Australian dollar, and the higher-yielding currency may face additional headwinds over the next 24-hours of trading should the Reserve Bank of Australia (RBA) Minutes highlight a weakened outlook for the $1T economy.

Indeed, we are likely to see Governor Glenn Stevens retain a cautious outlook for the region amid the slowing recovery, and the central bank head may make further calls for a lower exchange rate, which raises the risk of seeing another selloff in the AUDUSD.

At the same time, the RBA may keep the door open to push the benchmark interest rate to a fresh record-low in order to address the risks surrounding the region, and we will look to sell rallies in the AUDUSD as the pair appears to be carving a lower high around the 61.8 percent Fibonacci retracement (0.9210-20).

--- Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

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

DISCLOSURES

News & Analysis at your fingertips.