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
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
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.18% Silver: 0.00% Gold: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xivz7ptPMn
  • Hey, traders 👋 do you want live AMAS with our analysts, market updates and tools to improve your trading strategy? Join us now on Instagram! 👉 https://t.co/pHGzVMqsC4 https://t.co/EBCYaTLWGi
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.25% 🇳🇿NZD: 0.18% 🇪🇺EUR: 0.18% 🇨🇭CHF: 0.12% 🇯🇵JPY: 0.11% 🇬🇧GBP: 0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/aM45N7u2eL
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.33% France 40: 1.21% Wall Street: 0.29% US 500: 0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/wVfG8eTkn4
  • The $USD suddenly seems scarce amid the #coronavirus outbreak. That threatens short-term financing underpinning global supply chains, despite the Fed’s epic efforts. Get your US Dollar market update from @DavidCottleFX here:https://t.co/D2p2VlkpJi https://t.co/GgQN6zFGG0
  • My trading video for today: 'S&P 500 Closes Best Week in 45 Years Unperturbed by Data, Helped by Fed' https://www.dailyfx.com/forex/video/daily_news_report/2020/04/10/SP-500-Closes-Best-Week-in-45-Years-Unperturbed-by-Data-Helped-by-Fed.html?ref-author=Kicklighter&QPID=917719&CHID=9
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.22%, while traders in Wall Street are at opposite extremes with 78.06%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/35HQhfNLVr
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.12% 🇨🇦CAD: 0.11% 🇪🇺EUR: 0.09% 🇬🇧GBP: 0.04% 🇦🇺AUD: 0.03% 🇳🇿NZD: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/eTpRMCtc2k
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.33% France 40: 1.21% Wall Street: 0.29% US 500: 0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/okA8WJ8OLb
  • #Gold prices well-supported as keeping interest rates ultra-low in response to the 2008 global financial crisis proves problematic for fighting the next one, the #coronavirus outbreak. Get your $XAUUSD market update from @DavidCottleFX here:https://t.co/zNpjufGv2b https://t.co/iUtAYQYi8D
US Dollar Sold as S&P 500 Finds Support, Hints at Gains Ahead

US Dollar Sold as S&P 500 Finds Support, Hints at Gains Ahead

2012-09-28 04:42:00
Ilya Spivak, Head Strategist, APAC
Share:

THE TAKEAWAY: The US Dollar recoiled sharply lower after the S&P 500 found support and reversed higher, with technical positioning hinting a larger advance may be ahead.

S&P 500 – Prices put in a Bullish Engulfing candlestick pattern above support at a rising trend line set from late July, hinting a move higher is ahead. Initial resistance lines up at 1466.10, with a break above that targeting the top of a channel established from the June 4 low at 1481.80. Alternatively, a break below trend line support (now at 1437.60) exposes 1422.40.

US_Dollar_Sold_as_SP_500_Finds_Support_Hints_at_Gains_Ahead_body_Picture_5.png, US Dollar Sold as S&P 500 Finds Support, Hints at Gains Ahead

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL Prices bounced from support at 89.44, the 38.2% Fibonacci expansion, to challenge the 23.6% level at 93.60. A break above this barrier exposes the underside of a rising channel set from early July, now at 95.81. Alternatively, a reversal through support targets the 50% Fib at 86.04.

US_Dollar_Sold_as_SP_500_Finds_Support_Hints_at_Gains_Ahead_body_Picture_6.png, US Dollar Sold as S&P 500 Finds Support, Hints at Gains Ahead

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD Prices remain range-bound after taking out resistance at a falling trend line connecting major swing highs since early November 2011. Near-term resistance is at 1790.55, with a break above that targeting 1802.80. The trend line – now at 1747.61 – has been recast as support. A push back below that sees initial downside barriers at 1725.87 and 1687.84, the 23.6% and 38.2% Fibonacci retracements respectively.

US_Dollar_Sold_as_SP_500_Finds_Support_Hints_at_Gains_Ahead_body_Picture_7.png, US Dollar Sold as S&P 500 Finds Support, Hints at Gains Ahead

Daily Chart - Created Using FXCM Marketscope 2.0

US DOLLAR Prices turned lower after putting in an Inverted Hammer candlestick below resistance at 9857, the 38.2% Fibonacci retracement. Sellers now aim to challenge the bottom of a falling channel set from the June 1 high, now at 9727. A push beyond that targets the February 8 swing low at 9672. Alternatively, a break above resistance initially exposes the 50% Fib at 9893.

US_Dollar_Sold_as_SP_500_Finds_Support_Hints_at_Gains_Ahead_body_Picture_8.png, US Dollar Sold as S&P 500 Finds Support, Hints at Gains 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

News & Analysis at your fingertips.