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
GBP/USD
Mixed
USD/JPY
Bullish
Gold
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
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
Bitcoin
Mixed
More View more
Real Time News
  • Precious Metals Update: #Gold 1,611,55 (-0.01%), #Aluminum 1,720.00 (-0.06%), and #Copper 5,773.00 (-0.67%) [delayed]
  • ❗Heads Up Traders❗ Will be covering the Australian jobs report in 2 hours. $AUDUSD can't quite break under support and now there is ominous positive RSI divergence. Will a better-than-expected outcome be the turning point? #AUD $AUDJPY $AUDNZD #AUDCAD - https://www.dailyfx.com/webinars/475271731?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/V8P6Q2WpPq
  • Yes, that was quite the surge in $USDJPY today. Just a reminder that using my majors-based #Yen index, the dominant uptrend is still in play via rising support from 2018. There was a break under the near-term rising trend line which may take JPY down to lows from DEC & JAN https://t.co/N2fXmKEfep
  • When carry flows trump sentiment🤷‍♂️ https://t.co/UT8ucpiCPS
  • RT @charliebilello: US High Yield and Investment Grade Bond yields are at their lowest levels in history. https://t.co/m33RggxlUf
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.30% 🇪🇺EUR: 0.14% 🇳🇿NZD: 0.00% 🇦🇺AUD: -0.14% 🇬🇧GBP: -0.58% 🇯🇵JPY: -1.35% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rnrkBIcP1s
  • $USD did gain momentum following the release with USDJPY breaking above 111.456. The cross is nearly 3% above its monthly lows after a strong shift up in recent days. Get your market update from @FxWestwater here: https://t.co/DWIrNdxrhk https://t.co/mplKTr53fw
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Silver: 1.38% Gold: 0.63% Oil - US Crude: 0.49% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/4r15uo57of
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.13%, while traders in France 40 are at opposite extremes with 83.91%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/GkXqYp4qZM
  • IMF says Argentina's debt levels are "not sustainable" following a review. - BBG
US Dollar Chart Setup Hints Pullback Complete, Rally Ready to Resume

US Dollar Chart Setup Hints Pullback Complete, Rally Ready to Resume

2011-09-29 00:20:00
Ilya Spivak, Sr. Currency Strategist
Share:

THE TAKEAWAYUS Dollar technical positioning suggests the safe-haven currency is ready to resume the upswing initiated in late August after completing a brief downward correction.

S&P 500 – Prices put in a bearish Shooting Star candlestick below the 1200.00 figure and dropped to support at 1152.55, the 23.6% Fibonacci extension level. Continued selling from here targets the 50% Fib at 1139.25. Near-term resistance remains at 1200.00.

US_Dollar_Chart_Setup_Hints_Pullback_Complete_Rally_Ready_to_Resume_body_Picture_5.png, US Dollar Chart Setup Hints Pullback Complete, Rally Ready to Resume

CRUDE OIL Prices reversed lower from resistance at $84.16, the 23.6% Fibonacci extension level, to form a Bearish Engulfing candlestick pattern and break back below the 38.2% level $80.97. The bears now aim to challenge the 50% Fib at $78.03.

US_Dollar_Chart_Setup_Hints_Pullback_Complete_Rally_Ready_to_Resume_body_Picture_6.png, US Dollar Chart Setup Hints Pullback Complete, Rally Ready to Resume

GOLD Prices broke back below support at $1624.09, the 23.6%Fibonacci retracement level, to challenge the minor 14.6% boundary at 1589.14. A break below the latter level exposes the September 26 low at $1532.45. However, early signs of positive RSI divergence warn that another leg higher may materialize before the larger selloff resumes. The 23.6% Fib as has been recast as resistance.

US_Dollar_Chart_Setup_Hints_Pullback_Complete_Rally_Ready_to_Resume_body_Picture_7.png, US Dollar Chart Setup Hints Pullback Complete, Rally Ready to Resume

US DOLLAR Prices put in a Bullish Engulfing candlestick pattern above 23.6% Fibonacci retracement support at 9868, a level reinforced by the bottom of a rising channel set from the late August swing low, hinting that the pullback that played out over the past three days is over and the rally is ready to resume. Near-term resistance stands at 9947, shortly followed by the 10,000 figure.

US_Dollar_Chart_Setup_Hints_Pullback_Complete_Rally_Ready_to_Resume_body_Picture_8.png, US Dollar Chart Setup Hints Pullback Complete, Rally Ready to Resume

Daily Chart - Created Using FXCM Marketscope 2.0

For real time news and analysis, please visit http://www.dailyfx.com/real_time_news

To receive future articles by email, please contact Ilya at ispivak@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.