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
  • 💶 Inflation Rate MoM Flash (JUL) Actual: -0.1% Previous: 0.3% https://www.dailyfx.com/economic-calendar#2021-07-30
  • 🇮🇹 Inflation Rate YoY Prel (JUL) Actual: 1.8% Expected: 1.7% Previous: 1.3% https://www.dailyfx.com/economic-calendar#2021-07-30
  • 💶 Inflation Rate YoY Flash (JUL) Actual: 2.2% Expected: 2% Previous: 1.9% https://www.dailyfx.com/economic-calendar#2021-07-30
  • 💶 Unemployment Rate (JUN) Actual: 7.7% Expected: 7.9% Previous: 8% https://www.dailyfx.com/economic-calendar#2021-07-30
  • 💶 Core Inflation Rate YoY Flash (JUL) Actual: 0.7% Expected: 0.8% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2021-07-30
  • 💶 GDP Growth Rate QoQ Flash (Q2) Actual: 2% Expected: 1.5% Previous: -0.3% https://www.dailyfx.com/economic-calendar#2021-07-30
  • 💶 GDP Growth Rate YoY Flash (Q2) Actual: 13.7% Expected: 13.2% Previous: -1.3% https://www.dailyfx.com/economic-calendar#2021-07-30
  • US Dollar Looking for a Lifeline in PCE Inflation Data - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2021/07/30/US-Dollar-Looking-for-a-Lifeline-in-PCE-Inflation-Data.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #USD #Dollar #PCE #inflation
  • Heads Up:🇮🇹 Inflation Rate YoY Prel (JUL) due at 09:00 GMT (15min) Expected: 1.7% Previous: 1.3% https://www.dailyfx.com/economic-calendar#2021-07-30
  • Heads Up:💶 Inflation Rate MoM Flash (JUL) due at 09:00 GMT (15min) Previous: 0.3% https://www.dailyfx.com/economic-calendar#2021-07-30
US Dollar Holds Support as S&P 500 Signals Weakness Ahead

US Dollar Holds Support as S&P 500 Signals Weakness Ahead

Ilya Spivak, Head Strategist, APAC

THE TAKEAWAY: The US Dollar has deflected another attempt to push prices past key support while S&P 500 technical positioning warns of renewed weakness ahead.

S&P 500 – Prices put in a Bearish Engulfing candlestick pattern below support-turned-resistance at a falling trend line set from mid-April, hinting a move lower is ahead. Initial support lines up at 1292.90, with a break below that exposing 1265.30. Trend line resistance is now at 1328.90, with a break above that targeting upside barriers at 1357.40 and 1392.10.

US_Dollar_Holds_Support_as_SP_500_Signals_Weakness_Ahead_body_Picture_5.png, US Dollar Holds Support as S&P 500 Signals Weakness Ahead

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL Prices took out support at 83.30 the 14.6% Fibonacci expansion, to challenge the 23.6% barrier at 81.07. A break beneath this boundary targets the 80.00 figure and the 38.2% Fib at 77.33. The 14.6% expansion has been recast as near-term resistance.

US_Dollar_Holds_Support_as_SP_500_Signals_Weakness_Ahead_body_Picture_6.png, US Dollar Holds Support as S&P 500 Signals Weakness Ahead

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD Prices remain wedged between 1599.17 and 1582.10, the 50% and 38.2% Fibonacci retracement levels, respectively. A break higher exposes the 61.8% Fib at 1616.23, a barrier reinforced by a falling trend line in place since early March. Alternatively, a push downward through support targets 1554.73, followed by the 1522.50-1532.45 area.

US_Dollar_Holds_Support_as_SP_500_Signals_Weakness_Ahead_body_Picture_7.png, US Dollar Holds Support as S&P 500 Signals Weakness Ahead

Daily Chart - Created Using FXCM Marketscope 2.0

US DOLLAR Prices continue to look for direction above support in the 10134-43 area. A break lower opens the door for a challenge of the 38.2% Fibonacci expansion at 10066. Near-term resistance lines up at 10220, the 61.8% Fib, with a breach higher targeting the 76.4% boundary at 10316.

US_Dollar_Holds_Support_as_SP_500_Signals_Weakness_Ahead_body_Picture_8.png, US Dollar Holds Support as S&P 500 Signals Weakness Ahead

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