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
Bearish
Gold
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
GBP/USD
Mixed
USD/JPY
Bearish
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
  • Update on #Cryptocurrencies #BITCOIN -0.91% #BITCOINCASH +1.48% #ETHEREUM -1.58% #RIPPLE -1.35% #LITECOIN -2.48%
  • $AUDUSD pushes further into multi-month highs this morning as risk appetite improves https://t.co/jCjpOT2kbP
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.98%, while traders in US 500 are at opposite extremes with 73.36%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ZZhiVDU0Ey
  • The #Euro Stoxx 50 has made a firm break away from its 50% fib retracement to trade at its highest level since early March. Get your equities market update from @JMcQueenFX here:https://t.co/TeIdfHjbUj https://t.co/IPSBuPQ3YF
  • New York Virus cases rise 0.4% compared to 7-day average of 0.3% - BBG
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 2.91% Gold: -0.86% Silver: -2.61% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/slar5zMmAp
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 1.19% 🇳🇿NZD: 0.91% 🇨🇦CAD: 0.47% 🇪🇺EUR: 0.35% 🇨🇭CHF: -0.08% 🇯🇵JPY: -0.94% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/212TNo9F85
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.45% France 40: 0.14% US 500: 0.11% Germany 30: 0.11% FTSE 100: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/hJWuqYgXB7
  • Hey traders! Why is US indices a good benchmark? Find out from @DailyFX Chief Strategist, @JohnKicklighter 👇 as he covers the US market highlights today! https://t.co/cRetV7qC8m
  • US Treasury Yields: 2-Year: 0.158% 3-Year: 0.199% 5-Year: 0.308% 7-Year: 0.507% 10-Year: 0.669% 30-Year: 1.470% $TNX
US Dollar Higher as Gold, Oil and S&P 500 Race Downward

US Dollar Higher as Gold, Oil and S&P 500 Race Downward

2013-04-15 11:00:00
Ilya Spivak, Head Strategist, APAC
Share:

THE TAKEAWAY: The US Dollar has found fuel for a recovery from support as gold, crude oil and the S&P 500 are accelerating downward to start the trading week.

US DOLLAR TECHNICAL ANALYSIS Prices are correcting higher from falling channel resistance-turned-support set from early March (now at 10444). Near-term resistance is at 10546, the the 23.6% Fibonacci expansion, with a break above that exposing the 38.2% level at 10642. Alternatively, a reversal below 10444 aims for the April 2 low at 10391.

Forex_US_Dollar_Higher_as_Gold_Oil_and_SP_500_Race_Downward_body_Picture_4.png, US Dollar Higher as Gold, Oil and S&P 500 Race Downward

Daily Chart - Created Using FXCM Marketscope 2.0

S&P 500 TECHNICAL ANALYSIS – Prices are sinking after putting in a Bearish Engulfing candlesick pattern below resistance at 1594.50, the 61.8% Fibonacci expansion. Sellers are now testing below support at 1583.90, the 50% level, with a break below that exposing the 38.2% Fib at 1573.30. Alternatively, a reversal above 1594.50 aims for the 76.4% expansion at 1607.70.

Forex_US_Dollar_Higher_as_Gold_Oil_and_SP_500_Race_Downward_body_Picture_3.png, US Dollar Higher as Gold, Oil and S&P 500 Race Downward

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices are testing long-term support at 1397.50, the 100% Fibonacci expansion. A break lower on a weekly closing basis exposes the 123.6% level at 1303.50. The first layer of major resistance lines up at 1491.50, the 76.4% Fib.

Forex_US_Dollar_Higher_as_Gold_Oil_and_SP_500_Race_Downward_body_Picture_2.png, US Dollar Higher as Gold, Oil and S&P 500 Race Downward

Weekly Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS Prices declined as expected after putting in a Bearish Engulfing candlestick pattern below resistance at the underside of a previously broken rising trend line set from the March 4 low. Sellers are now testing below support is at 88.77, the 100% Fibonacci expansion, with a break below that exposing the 123.6% level at 86.67. Near-term resistance is at 90.87, the 76.4% Fib.

Forex_US_Dollar_Higher_as_Gold_Oil_and_SP_500_Race_Downward_body_Picture_1.png, US Dollar Higher as Gold, Oil and S&P 500 Race Downward

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.