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
Bearish
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
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
  • The Dow enjoyed its biggest bullish gap higher on the open since April 7th. A statement clearing the 200-day moving average. NFPs is back as a market mover https://t.co/DzE0h8AV5B
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.19%, while traders in US 500 are at opposite extremes with 73.28%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/BRIkHghn5j
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 4.31% Gold: -1.86% Silver: -2.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/LFsykmg4W9
  • Heads Up:🇨🇦 Ivey PMI s.a due at 14:00 GMT (15min) Previous: 22.8 https://www.dailyfx.com/economic-calendar#2020-06-05
  • Gold Sinks, USD/JPY Surges as NFP Report Smashes Expectations - via @DailyFX https://t.co/csSLlNVzVJ
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: France 40: 3.25% Wall Street: 2.70% Germany 30: 2.65% US 500: 1.90% FTSE 100: 1.79% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/GyZ4oc1mGG
  • me and other market bears after that NFP print.... https://t.co/NFQOzKWtNG
  • 🇷🇺 Foreign Exchange Reserves Actual: $566.1B Previous: $566B https://www.dailyfx.com/economic-calendar#2020-06-05
  • US #NFP report for May 2020 crushed the median estimate on Wall Street looking for -7.5 million jobs lost, but the actual figure crossed the wires at 2.5 million jobs added. Get your market update here: https://t.co/8i0L6YIqjy https://t.co/K2laOv7Unk
  • #Cable is trading around 1.2650 in early turnover and is back at highs last seen in mid-March as the pair continue to make a short-term series of higher lows and higher highs.Get your $GBPUSD market update from @nickcawley1 here: https://t.co/XCrsgxaXux https://t.co/5z8GFfyN8X
Dollar Stalls at Resistance as S&P 500 Accelerates Higher Anew

Dollar Stalls at Resistance as S&P 500 Accelerates Higher Anew

2013-04-11 05:30:00
Ilya Spivak, Head Strategist, APAC
Share:

THE TAKEAWAY: The US Dollar is stalling having run into technical resistance while the S&P 500 has resumed an aggressive advance, marching higher toward the 1600 figure.

US DOLLAR TECHNICAL ANALYSIS Prices recoiled from resistance below the 23.6% Fibonacci expansion at 10547. Falling channel resistance-turned-support is at 10433, with a push beneath that eyeing the April 2 low at 10391. Alternatively, a reversal back above 10547 targets the 38.2% level at 10641

Forex_Dollar_Stalls_at_Resistance_as_SP_500_Accelerates_Higher_Anew_body_Picture_5.png, Dollar Stalls at Resistance as S&P 500 Accelerates Higher Anew

Daily Chart - Created Using FXCM Marketscope 2.0

S&P 500 TECHNICAL ANALYSIS – Prices pushed higher anew, taking out the 50% Fibonacci expansion at 1583.90 to expose the 61.8% level at 1594.50. A further push above that aims for the 76.4% level at 1607.70. The 1583.90 mark has been recast as support, with a reversal back beneath that eyeing the 38.2% Fib at 1573.30. Negative RSI divergence warns of ebbing bullish momentum, hinting a reversal may be in the cards ahead.

Forex_Dollar_Stalls_at_Resistance_as_SP_500_Accelerates_Higher_Anew_body_Picture_6.png, Dollar Stalls at Resistance as S&P 500 Accelerates Higher Anew

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices recoiled from resistance at 1586.48, the 23.6% Fibonacci expansion, taking out support at 1565.69 marked by the 38.2% level. Sellers now aim to challenge the 50% Fib at 1458.89, with a drop below that eyeing the 61.8% expansion at 1532.09. Alternatively, a reversal back above 1565.69 exposes 1586.48 anew.

Forex_Dollar_Stalls_at_Resistance_as_SP_500_Accelerates_Higher_Anew_body_Picture_7.png, Dollar Stalls at Resistance as S&P 500 Accelerates Higher Anew

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS Prices broke above resistance at 93.91, the 23.6% Fibonacci expansion, exposing the 38.2% level at 95.13. A further push beyond that targets the 50% level at 96.11. Alternatively, a reversal back beneath 93.91 aims for the April 5 low at 91.95.

Forex_Dollar_Stalls_at_Resistance_as_SP_500_Accelerates_Higher_Anew_body_Picture_8.png, Dollar Stalls at Resistance as S&P 500 Accelerates Higher Anew

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

News & Analysis at your fingertips.