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.

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
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
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
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
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
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
  • After a miraculous recovery in Q2, equity markets will be left juggling the Fed’s policy and the threat of a second covid wave, all in an election year. Evidently, traders will have their hands full in Q3. Read our equity forecast here: https://t.co/JARqbOKIeM https://t.co/Ms6zEucjqg
  • Hey traders! I'm sure you've all heard about trend trading. Sharpen your knowledge here: https://t.co/jkliL5sxj7 https://t.co/uvlv1MCAHI
  • $GBPUSD posts impressive Q2 recovery, however, what upside challenges lie ahead in Q3? Download our #GBP trading guide to find out: https://t.co/ZE0yjc6wdQ https://t.co/bFa90VJYor
  • RT @DailyFX: What’s the outlook for gold, USD, and the US economy? Jim Rogers shares his thoughts with @DailyFX only on "Trading Global Mar…
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.37% 🇦🇺AUD: 0.22% 🇬🇧GBP: 0.18% 🇪🇺EUR: 0.09% 🇨🇭CHF: 0.00% 🇯🇵JPY: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/2faAkNNk8r
  • Texas virus cases increase 4.3%, above prior 4.2% 7-day average - BBG
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 0.56% Gold: -0.04% Oil - US Crude: -0.76% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/esKy1uY3rQ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.06%, while traders in US 500 are at opposite extremes with 71.69%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HVIXApa0wb
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:https://t.co/vg7w10la3j https://t.co/Mit4oKK16l
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.63% France 40: 0.62% FTSE 100: 0.55% US 500: 0.00% Wall Street: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/bW5YIX8sRH
S&P 500 Chart Setup Warns of Down Move, US Dollar Mounts Recovery

S&P 500 Chart Setup Warns of Down Move, US Dollar Mounts Recovery

2012-02-14 04:00:00
Ilya Spivak, Head Strategist, APAC
Share:

THE TAKEAWAY: S&P 500 technical positioning warns a move lower is ahead while the US Dollar is mounting a recovery from a familiar support level.

S&P 500 – Prices put in a Hanging Man candlestick below rising trend line support-turned-resistance set from late December, warning of ebbing bullish momentum and hinting a downswing may be ahead. Near-term support lines up in the 1332.10-1337.60 area. Trend line resistance is now at 1354.70.

SP_500_Chart_Setup_Warns_of_Down_Move_US_Dollar_Mounts_Recovery_body_Picture_5.png, S&P 500 Chart Setup Warns of Down Move, US Dollar Mounts Recovery

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL Prices have broken resistance at the top of a falling channel set from early January, with the bulls now poised to threaten 101.28. A daily close above this level targets 103.35. The channel top – now at 100.08 – has now been recast as near-term support.

SP_500_Chart_Setup_Warns_of_Down_Move_US_Dollar_Mounts_Recovery_body_Picture_6.png, S&P 500 Chart Setup Warns of Down Move, US Dollar Mounts Recovery

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD Prices appear to be carving out a Head and Shoulders top below resistance at 1763.00, with the peak marked by a Bearish Engulfing candlestick pattern. A daily close below H&S neckline support at 1714.05 is needed for confirmation, exposing a measured target at 1665.03.

SP_500_Chart_Setup_Warns_of_Down_Move_US_Dollar_Mounts_Recovery_body_Picture_7.png, S&P 500 Chart Setup Warns of Down Move, US Dollar Mounts Recovery

Daily Chart - Created Using FXCM Marketscope 2.0

US DOLLAR Prices continued higher after putting in a bullish Harami candlestick pattern above support at 9679, taking out Andrew’s Pitchfork support-turned-resistance and exposing the next barrier at 9823. Near-term support is now at 9735.

SP_500_Chart_Setup_Warns_of_Down_Move_US_Dollar_Mounts_Recovery_body_Picture_8.png, S&P 500 Chart Setup Warns of Down Move, US Dollar Mounts Recovery

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow me on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to 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.