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. See our updated Privacy Policy here.

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
Subscribe
Please try again
Oil - US Crude
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
More View more
Real Time News
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/xGuTYZqYwh
  • 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/reRmDe1Ksp https://t.co/EvRHfRQLgk
  • The Australian Dollar remains vulnerable in the week ahead, eyeing risks such as a dovish RBA, surging Covid cases and recent crackdowns by Beijing. Might US NFPs offer some relief to AUD/USD? Get your weekly AUD forecast from @ddubrovskyFX here: https://t.co/LQzQymM3ND https://t.co/XOCJl3vbu1
  • $AUDNZD closed at its lowest since December 2020 Prices pierced the 1.0541 - 1.0564 support zone, exposing the November low at 1.0418 A confirmatory downside close under support next week may open the door to further losses #AUD #RBA https://t.co/mybbgPHNX4
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/k49UosZOUR
  • The US Dollar seems to be losing its momentum against ASEAN currencies as of late. Could this be another top in USD/SGD, USD/THB, USD/PHP and USD/IDR? Find out from @ddubrovskyFX here:https://t.co/rVBKBuhhAb https://t.co/lTT6oelIEc
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/JTw3w7KYXP
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.10% 🇪🇺EUR: -0.15% 🇯🇵JPY: -0.18% 🇬🇧GBP: -0.39% 🇳🇿NZD: -0.56% 🇦🇺AUD: -0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/a8XYJHybtN
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: -0.05% Oil - US Crude: -0.25% Gold: -0.77% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/C66zBofenc
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.72%, while traders in France 40 are at opposite extremes with 71.64%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/6QmJTzlrho
US Dollar (DXY) Probing Higher Ahead of US Initial Jobless Claims Release

US Dollar (DXY) Probing Higher Ahead of US Initial Jobless Claims Release

Nick Cawley, Strategist

US Dollar (USD) Price, News and Analysis:

  • US dollar basket testing 100 as demand grows.
  • Weekly US jobless claims expected in excess of 5 million

US Dollar Back in Vogue

Wednesday’s out-sized bullish candle is currently supporting the dollar basket (DXY) and has broken a series of lower highs and lows off the recent 101.05 high made on April 6. The next leg of this move will be shaped by this afternoon’s weekly US initial jobless claims release (12.30 GMT) which is expected to show another 5 million+ fresh claims, following on from last week’s 6.606 million and a prior week’s record-high of 6.867 million.

Chart showing soaring us jobless claims

Chart via TradingEconomics.Com

For all market moving data and events please the DailyFX calendar

The US dollar’s status as the global reserve currency continues to be confirmed and the greenback will likely continue its move higher. Financial markets are still being buoyed by the global liquidity flush, but risks remain and will continue to for the foreseeable future. The US dollar basket (DXY) arrested its recent slide this week and the daily chart shows a positive set-up. Back in late-March the DXY twice stopped short of testing the 61.8% Fibonacci retracement at 98.14 and earlier this week the recent sell-off was twice arrested around 98.80, forming a supportive trend of strong higher lows. With the DXY now trading just under 100, the downside is also guarded by the 50% retracement level at 99.25. To the upside, a clean break of the 38.2% retracement level at 100.37 will open up a series of lower highs all the way up to 101.05.

US Dollar Basket (DXY) Daily Price Chart (October 2019 – April 16, 2020)

US dollar chart showing price moving higher

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 via Twitter @nickcawley1.

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

DISCLOSURES