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
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
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
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
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • 🇨🇳 FDI (YTD) YoY (MAR) Actual: 39.9% Previous: 31.5% https://www.dailyfx.com/economic-calendar#2021-04-15
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.41% Wall Street: 0.28% US 500: 0.27% France 40: 0.14% Germany 30: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/1B16vAJXnq
  • 🇫🇷 Inflation Rate YoY Final (MAR) Actual: 1.1% Expected: 1.1% Previous: 0.6% https://www.dailyfx.com/economic-calendar#2021-04-15
  • The Euro may be set for deeper losses against the British Pound after breaking below near-term chart support, with scope for a move below the 0.83 figure ahead. Get your market update from @IlyaSpivak here:https://t.co/k6Pwvp8x5x https://t.co/HhTR2i3EpL
  • Heads Up:🇫🇷 Inflation Rate YoY Final (MAR) due at 06:45 GMT (15min) Expected: 1.1% Previous: 0.6% https://www.dailyfx.com/economic-calendar#2021-04-15
  • 🇩🇪 Inflation Rate MoM Final (MAR) Actual: 0.5% Expected: 0.5% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2021-04-15
  • 🇩🇪 Inflation Rate YoY Final (MAR) Actual: 1.7% Expected: 1.7% Previous: 1.3% https://www.dailyfx.com/economic-calendar#2021-04-15
  • Heads Up:🇩🇪 Inflation Rate MoM Final (MAR) due at 06:00 GMT (15min) Expected: 0.5% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2021-04-15
  • Heads Up:🇩🇪 Inflation Rate YoY Final (MAR) due at 06:00 GMT (15min) Expected: 1.7% Previous: 1.3% https://www.dailyfx.com/economic-calendar#2021-04-15
  • Heads Up:🇨🇳 FDI (YTD) YoY (MAR) due at 06:00 GMT (15min) Previous: 31.5% https://www.dailyfx.com/economic-calendar#2021-04-15
US Dollar Bounces at Support, S&P 500 Turns Sharply Lower

US Dollar Bounces at Support, S&P 500 Turns Sharply Lower

Ilya Spivak, Head Strategist, APAC

THE TAKEAWAY: The US Dollar is staging an impressive recovery from support while the S&P 500 may have at last begun to validate bearish cues in technical positioning.

US DOLLAR TECHNICAL ANALYSIS Prices are bouncing from support at 10420, the 23.6% Fibonacci retracement, pushing above falling trend line resistance (10454) to challenge the 14.6% Fib expansion at 10509. A break above that exposes the 23.6% expansion at 10569. Alternatively, a reversal below support targets the 38.2% retracement at 10324.

Forex_US_Dollar_Bounces_at_Support_SP_500_Turns_Sharply_Lower_body_Picture_5.png, US Dollar Bounces at Support, S&P 500 Turns Sharply Lower

Daily Chart - Created Using FXCM Marketscope 2.0

S&P 500 TECHNICAL ANALYSIS – Prices broke lower as expected after carving out a bearish Rising Wedge chart pattern below resistance at 1576.10 the index’s record high. Sellers now challenge support at 1552.40, marked by the 23.6% Fibonacci retracement and a rising channel bottom. A break below that aims for the 38.2% level at 1539.20. The Wedge bottom, now at 1567.00, has been recast as near-term resistance.

Forex_US_Dollar_Bounces_at_Support_SP_500_Turns_Sharply_Lower_body_Picture_6.png, US Dollar Bounces at Support, S&P 500 Turns Sharply Lower

8hr Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices broke support at 1562.58, the 38.2% Fibonacci expansion, exposing the 50% level at 1545.78. The 1562.58 level has been recast as near-term resistance, with a reversal back above that eyeing the 23.6% Fib at 1583.37.

Forex_US_Dollar_Bounces_at_Support_SP_500_Turns_Sharply_Lower_body_Picture_7.png, US Dollar Bounces at Support, S&P 500 Turns Sharply Lower

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS Prices are testing support at 94.47, the 38.2% Fibonacci retracement, with a break below that targeting the 50% level at 93.49. Near-term resistance is at 95.69, the 23.6% Fib. A reversal back above that eyes a falling trend line barrier at 97.54.

Forex_US_Dollar_Bounces_at_Support_SP_500_Turns_Sharply_Lower_body_Picture_8.png, US Dollar Bounces at Support, S&P 500 Turns Sharply Lower

Daily Chart - Created Using FXCM Marketscope 2.0

Want to back-test your technical trading strategy? Download historical data here.

--- 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, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

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

DISCLOSURES