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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
More View more
Real Time News
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here:
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: #DailyFXGuides
  • Even more remarkable than the record high levels of leverage registered in US equities this past week was the attention it garnered. Paying attention to risk is a threat when markets are this high and the docket as dense as it is this week. My outlook:
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here:
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here:
  • USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here:
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge:
  • The formation of several bullish technical patterns suggests that the haven-associated Japanese Yen is at risk of further losses against the Euro and Australian Dollar. Get your market update from @DanielGMoss here:
  • Natural gas is moving lower after weather models pointed to warmer-than-average temperatures across much of the US. Get your market update from @FxWestwater here:
Dollar at Risk Below 2012 High, S&P 500 Looking Top-Heavy

Dollar at Risk Below 2012 High, S&P 500 Looking Top-Heavy

Ilya Spivak, Head Strategist, APAC

THE TAKEAWAY: US Dollar chart positioning warns prices may turn lower after testing the 2012 yearly high. The S&P 500 looks increasingly vulnerable to a downside reversal.

US DOLLAR TECHNICAL ANALYSIS Prices put in a bearish Dark Cloud Cover candlestick pattern below resistance in the 10323-26 area, marked by the 123.6% Fibonacci expansion and the 2012 yearly high. The setup hints a move lower is ahead, with negative RSI divergence reinforcing the case for a downside scenario. Near-term support is at 10248, the 100% Fib, with a break below that exposing rising channel resistance-turned-support at 10221.

Forex_Dollar_at_Risk_Below_2012_High_SP_500_Looking_Top-Heavy_body_Picture_5.png, Dollar at Risk Below 2012 High, S&P 500 Looking Top-Heavy

Daily Chart - Created Using FXCM Marketscope 2.0

S&P 500 TECHNICAL ANALYSIS – Prices broke above resistance at 1513.20, the 114.6% Fibonacci expansion. Buyers are now testing the 123.6% level at 1523.00, with a break above that targeting the 138.2% mark at 1538.70 (now shown). However, a Spinning Top candle warms of indecision and negative RSI divergence hints a turn lower may be ahead. The 1513.20 level has been recast as near-term support. A move back below that initially aims for the 100% Fib at 1497.50.

Forex_Dollar_at_Risk_Below_2012_High_SP_500_Looking_Top-Heavy_body_Picture_6.png, Dollar at Risk Below 2012 High, S&P 500 Looking Top-Heavy

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices broke critical rising trend line support set from mid-May 2012 and took out the 38.2% Fibonacci expansion (1648.20). Sellers now aim to challenge the 50% mark at 1633.06, with a push beneath that aiming for the 61.8% Fib at 1617.93. The 1648.20 level has been recast as near-term resistance. A reversal back above that eyes the trend line (now at 1661.30) anew.

Forex_Dollar_at_Risk_Below_2012_High_SP_500_Looking_Top-Heavy_body_Picture_7.png, Dollar at Risk Below 2012 High, S&P 500 Looking Top-Heavy

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS Prices rebounded from support at 95.14, the 23.6% Fibonacci retracement, to challenge resistance is in the 98.02-21 area (marked by the 23.6% Fib expansion and the January 30 high). A break above that exposes the 38.2% expansion at 99.91. Alternatively, a reversal below 95.14 initially targets the 38.2% retracement at 93.24.

Forex_Dollar_at_Risk_Below_2012_High_SP_500_Looking_Top-Heavy_body_Picture_8.png, Dollar at Risk Below 2012 High, S&P 500 Looking Top-Heavy

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

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