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
Wall Street
Mixed
Gold
Bearish
GBP/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
USD/JPY
Bullish
More View more
Real Time News
  • The US Dollar is testing key support levels against the Singapore Dollar, Malaysian Ringgit, Philippine Peso and Indonesian Rupiah following persistent losses. Get your #ASEAN currencies market update from @ddubrovskyFX here: https://t.co/qqYDELqydd https://t.co/WPUL1SO8Fv
  • - #USDollar may catch a haven bid as the US and China lock horns over technology - #TrumpExecutiveOrders may encounter congressional friction, spark dash to cash - #bidenvppick announcement could fail to stir markets unless the choice is unexpected https://www.dailyfx.com/forex/fundamental/article/special_report/2020/08/10/US-Dollar-Comeback-Ahead-US-China-Tensions-Push-Havens-Higher.html
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.01%, while traders in US 500 are at opposite extremes with 77.49%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/AB97lqEJQB
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.18% 🇳🇿NZD: 0.13% 🇯🇵JPY: 0.12% 🇪🇺EUR: 0.08% 🇨🇦CAD: 0.05% 🇨🇭CHF: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ThG7IBzIKu
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.67% France 40: 0.66% Germany 30: 0.60% Wall Street: 0.23% US 500: 0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/2l1TvwiW5l
  • The Indian Rupee struggled to benefit from an unexpected RBI rate hold as the Nifty 50 inched closer to invalidating a bearish reversal signal. What is the road ahead for USD/INR? Find out from @ddubrovskyFX here:https://t.co/Zjiay6hQWT https://t.co/IdM8hb6pI1
  • Join @ZabelinDimitri 's #webinar at 11:30 PM ET/3:30 AM GMT to find out how geopolitical risk will affect the markets in the week ahead. Register here: https://t.co/hsULxMNOtM https://t.co/TJbPf8arC3
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.26% Gold: -0.27% Silver: -1.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/4Ap99p4ATh
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.18% 🇬🇧GBP: 0.16% 🇯🇵JPY: 0.14% 🇪🇺EUR: 0.09% 🇨🇦CAD: 0.08% 🇨🇭CHF: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/5NRt7MMbs6
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.84%, while traders in US 500 are at opposite extremes with 78.33%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/NedpyrXTeR
USD Wobbles on Technical Support Ahead of Q4 GDP

USD Wobbles on Technical Support Ahead of Q4 GDP

2019-02-28 11:15:00
Nick Cawley, Strategist
Share:

USD Price, Chart and US Q4 GDP Analysis:

  • US dollar basket sitting on the 200-day moving average.
  • Delayed US Q4 GDP may spur the next move.

Q1 2019 USD Forecast and Top Trading Opportunities

The US dollar basket (DXY) is fading gently lower in European hours ahead of the, delayed, first look at US Q4 GDP at 13.30 GMT. Market expectations are pointing to annualized Q/Q growth slipping to 2.2%, down from 3.4%, although recent data and Fed speak has warned of a slowdown in the US economy. Before the figures are released, Fed Vice Chair Clarida speaks at 13:00 GMT while later during the session we hear from Fed members Bostic (13:50 GMT), Harker (16:00 GMT) and Kaplan (18:00 GMT).

DailyFX analyst David Song will be covering the US Q4 GDP release from 13:15 GMT.

The US dollar basket is currently sitting on the 200-day moving average around 95.40 and is looking for its next move. Support is situated around the two January lows between 94.50 and 94.60 beofre 38.2% Fibonacci retracement comes in at 94.00. To the upside, the 20-day moving average at 96.08 guards the mid-February multi-week high at 96.85. The RSI indicator continues to move lower and is touching a multi-week low.

USD Basket (DXY) Daily Price Chart (May 2018 – February 28, 2019)

USD Wobbles on Technical Support Ahead of Q4 GDP

Retail traders can access the latest IG Client Sentiment Data for a range of currencies and commodities. The data shows how retail positioning, and daily and weekly changes, can help when looking for a trade set-up.

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

What is your view on the US dollar – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author at nicholas.cawley@ig.comor via Twitter @nickcawley1.

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

DISCLOSURES

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.