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
Bullish
Oil - US Crude
Bearish
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
Bullish
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
  • AUD/USD Technical Analysis: False Break Higher to Mark Top? - https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2020/05/25/AUDUSD-Technical-Analysis-False-Break-Higher-to-Mark-Top.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #AUDUSD #technicalanalysis https://t.co/8mOURfT0hp
  • LIVE IN 30 MIN: Join DailyFX Senior Strategist @IlyaSpivak LIVE as he discusses the outlook for the financial markets in the week ahead! https://www.dailyfx.com/webinars/889679267
  • China set the #USDCNY daily reference rate at 7.1209 vs 7.0939 on Friday, weakest since 2008. #China
  • APAC MARKETS SNAPSHOT: Early risk-on tilt seems to have faded. Most G10 FX majors flat, #AUD slightly lower and #GBP a bit higher. #Nikkei and #ASX200 still up but overall APAC shares down approx. 0.3% on average
  • I think we all do this on some level. Care to assist me in a similar campaign @tracyalloway? https://t.co/yS4jrJ2B8x
  • Tune in to @IlyaSpivak 's #webinar at 10:00 PM ET/2:00 AM GMT for insight on the cross market weekly outlook. Register here: https://t.co/E213bTtq5C https://t.co/D5T3ErQYi5
  • Japanese Economy Minister Nishimura says a state of emergency is no longer needed in nay region of the country - BBG #Coronavirus #JPY
  • $gld prices may face heightened liquidation pressure as US-China tensions over Hong Kong heat up ahead of US GDP data amid the coronavirus pandemic. Get your $XAUUSD market update from @ZabelinDimitri here: https://t.co/vmoJXC2KSm https://t.co/dNGB1d0T9C
  • Slightly risk-on start to the beginning of the week. #AUD up with APAC stocks and #SPX index futures, anti-risk #JPY and #USD broadly lower https://t.co/P07MrhWHPe
  • Market snapshot: US equity futures pointing higher while FX markets remain mixed
USDOLLAR - Continues To Fail At Resistance, Eyeing Trend Support

USDOLLAR - Continues To Fail At Resistance, Eyeing Trend Support

2015-02-12 13:59:00
Paul Robinson, Strategist
Share:

Talking Points:

  • USDOLLAR continues to fail at new highs between 11850-11900
  • Trend support keeps bulls in control, but for how much longer?
  • Sentiment measure shows record extreme in longs vs. shorts

In recent weeks, USDOLLAR has maintained trend support, however; it has been rejected several times near the 2009 high of 11854. The struggle between the bulls and bears is real, which side will prevail? At this time, given the number of failures taking place at new highs, I am inclined to believe the sellers are starting to slowly win the battle. As stated before, though, I will continue to trust the rising trend-line extending back to October, however; that trust is quickly wearing thin.

Sentiment, as measured by futures market positioning (COT), shows record extremes in long USD positioning. With so many market participants leaning long, once the USD starts bucking the trend it will have the fuel (longs selling) to cause a sizable decline.

USDOLLAR Daily: Jul ’14 – Present

USDOLLAR - Continues To Fail At Resistance, Eyeing Trend Support

---Written by Paul Robinson, DailyFX Research

To have the weekly newsletter and updates delivered to your inbox, sign up for DailyFXs ‘Inside the Lines’.

For intra-day updates, I can be found on Twitter: @DailyFXLines

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

DISCLOSURES

News & Analysis at your fingertips.