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.

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
EUR/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
Oil - US Crude
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
Wall Street
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/T3W8CIg5iy
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/rJznrXkcYz https://t.co/FPgZ5gkgrM
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/E0KhcKHrOf
  • For some reason an old story has popped up - many apologies.... https://t.co/jHjQxyFRXM
  • The US dollar is unloved, oversold and at lows last seen over 30-months ago. At the moment there seems to be very little reason to buy the greenback. Get your $USD market update from @nickcawley1 here:https://t.co/VY3SLs35cp https://t.co/w5ljByv9cf
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here: https://t.co/lZFM8youtX https://t.co/CpqePQYF4E
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/Rg2YGZCUCr
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/ftrbRkFiJF
  • Human error in the forex market is common and often leads to familiar trading mistakes. These trading mistakes crop up particularly with novice traders on a regular basis. Learn about the top ten trading mistakes and how you can avoid them here: https://t.co/i8E2AXtzF3 https://t.co/Hny2HMYo4I
  • (Weekly Fundamental) Australian Dollar Outlook: Tied to Biden Stimulus Bets, S&P 500, US Dollar, Treasuries $AUDUSD #SP500 #stimulusbill #USD https://www.dailyfx.com/forex/fundamental/forecast/weekly/aud/2021/01/16/Australian-Dollar-Outlook-Tied-to-Biden-Stimulus-Bets-SP-500-US-Dollar-Treasuries.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/H7aus0Aljt
US Dollar Breakout Validates Bullish Positioning, Aims for 2011 High

US Dollar Breakout Validates Bullish Positioning, Aims for 2011 High

2012-04-04 03:47:00
Ilya Spivak, Head Strategist, APAC

THE TAKEAWAY: The US Dollar validated a bullish chart setup carved out over the past week, with prices gaining momentum to challenge the 2011 yearly high.

S&P 500 – Prices are testing through 38.2% Fibonacci expansion support at 1409.60, with a break below that initially exposing the 50% Fib at 1405.80. For now, near-term resistance remains at 1414.50 marked by the 23.6% expansion but a close below 1409.60 would revise it down to that level.

US_Dollar_Breakout_Validates_Bullish_Positioning_Aims_for_2011_High_body_Picture_5.png, US Dollar Breakout Validates Bullish Positioning, Aims for 2011 High

4hr Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL Prices recoiled from 38.2% Fibonacci retracement resistance at 105.28 and are now testing below near-term support at 104.04 marked by the 23.6% level. A break below this juncture exposes falling channel support set from late February, now at 102.66.

US_Dollar_Breakout_Validates_Bullish_Positioning_Aims_for_2011_High_body_Picture_6.png, US Dollar Breakout Validates Bullish Positioning, Aims for 2011 High

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD Prices reversed lower through support at 1658.51, the 23.6% Fibonacci expansion level, with sellers now aiming to retest the 38.2% Fib at 1634.76 anew. A break below this barrier targets the 50% Fib at 1615.46. The 1658.51 level has been recast as near-term resistance.

US_Dollar_Breakout_Validates_Bullish_Positioning_Aims_for_2011_High_body_Picture_7.png, US Dollar Breakout Validates Bullish Positioning, Aims for 2011 High

Daily Chart - Created Using FXCM Marketscope 2.0

US DOLLAR Prices took out falling trend line resistance set from mid-March to meet 23.6% Fibonacci retracement at 9997. A confirmed break on a daily close above this boundary exposes recent medium-term range highs in the 10081-10134 area. Near-term support remains at 9935 for now but would be adjusted higher to 9997 on a break above that level.

US_Dollar_Breakout_Validates_Bullish_Positioning_Aims_for_2011_High_body_Picture_8.png, US Dollar Breakout Validates Bullish Positioning, Aims for 2011 High

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 Ilya 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