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
Oil - US Crude
Wall Street
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 British Pound technical outlook still seems to favor the downside. GBP/CAD may pressure key rising support from August as GBP/AUD could prolong its downtrend. GBP/CHF may fall. Get your $GBP market update from @ddubrovskyFX here: https://t.co/hBOpDKXmfW https://t.co/AJlT2YKeCu
  • USD/JPY is approaching medium-term uptrend resistance and while the outlook remains constructive, the advance may be vulnerable near-term while below confluence resistance. Get your $USDJPY technical analysis from @MBForex here: https://t.co/93D7AyhHtG https://t.co/KQcLLrkMP3
  • AUD/USD has had the most impressive show of trend over the past couple of months with the pair gaining almost 1500 pips from the March low. Get your $AUDUSD technical analysis from @JStanleyFX here: https://t.co/vLz4Rpln3u https://t.co/AOwnJja5V8
  • Has the #Euro been saved? Find out from @CVecchioFX here: https://t.co/eiXfOTyGa6 https://t.co/AyRiYpb4cN
  • U.S. Market Analyst at https://t.co/JsVsSmefgR, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEbwiy https://t.co/ygwjGNvS61
  • The $USD, Euro, British Pound and Australian Dollar will all be at the mercy of political developments in Asia, Europe and North America this week. An avalanche of PMI data will set the backdrop. Find out from @ZabelinDimitri here: https://t.co/L8cfAgVx94 https://t.co/THWhPAS6AM
  • The price of #gold plunged 1% immediately after the stunning US jobs report crossed the wires. Get your market update from @RichDvorakFX here: https://t.co/8i0L6YIqjy https://t.co/y9dIXazJf9
  • S&P 500, Dow Jones, Nasdaq explode higher with stocks surging in response to shockingly better-than-expected monthly jobs data. Get your #equities market update from @RichDvorakFX here: https://t.co/nuMVWOzzuC https://t.co/M3nGBjd7kZ
  • The record-breaking NFPs increase behind us and the FOMC rate decision on Wednesday sets the tone for my trading video: 'Dow Soars Above 200-Day Average on NFPs, Will the #Fed Keep the Dollar Sliding' https://www.dailyfx.com/forex/video/daily_news_report/2020/06/06/Dow-Soars-Above-200-Day-Average-on-NFPs-Will-the-Fed-Keep-the-Dollar-Sliding.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/kquvec5HVc
  • Seasonal factors, oversupply issues and the outbreak of COVID-19 has seen the price of liquefied #naturalgas (LNG) fall to 22-year lows (1.519), with the situation exacerbated by ‘fuller-than-normal’ storage facilities. Get your market update here:https://t.co/VOqfkBQ4aR https://t.co/OsaphmqEmu
Dollar Looks for Direction as Gold, S&P 500 Find Interim Support

Dollar Looks for Direction as Gold, S&P 500 Find Interim Support

2013-04-17 05:02:00
Ilya Spivak, Head Strategist, APAC

THE TAKEAWAY: The US Dollar remains locked in choppy consolidation while gold and the S&P 500 have found interim support after sharp losses earlier in the week.

US DOLLAR TECHNICAL ANALYSIS Prices continue to consolidate in a choppy range below resistance at 10547, the 23.6% Fibonacci expansion. A break above that aims for the 38.2% level at 10643. Trend line support is at 10438, with a reversal beneath that eyeing the April 2 low at 10391.

Forex_Dollar_Looks_for_Direction_as_Gold_SP_500_Find_Interim_Support_body_Picture_4.png, Dollar Looks for Direction as Gold, S&P 500 Find Interim Support

Daily Chart - Created Using FXCM Marketscope 2.0

S&P 500 TECHNICAL ANALYSIS – Prices found support above 1537.30, the 23.6% Fibonacci retracement, and corrected higher. Near-term resistance is at 1597.60, the April 11 high. A return of selling pressure that takes prices below 1537.30 targets the 38.2% level at 1500.00.

Forex_Dollar_Looks_for_Direction_as_Gold_SP_500_Find_Interim_Support_body_Picture_3.png, Dollar Looks for Direction as Gold, S&P 500 Find Interim Support

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices are staging a shallow recovery from support at 1341.88, the 114.6% Fibonacci expansion. Near-term resistance is at 1376.93, the 100% level, with a break above that exposing the 1400/oz figure and the 76.4% Fib at 1433.58. Alternatively, a reversal below support targets the 123.6% Fib at 1320.28.

Forex_Dollar_Looks_for_Direction_as_Gold_SP_500_Find_Interim_Support_body_Picture_2.png, Dollar Looks for Direction as Gold, S&P 500 Find Interim Support

Daily 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. Initial support has been found at 87.38, the 76.4% Fibonacci retracement. Near-term resistance is at 89.45, the 61.8% level, with a reversal above that eyeing the 50% Fib at 91.13. Alternatively, a push downward through support targets swing lows at 85.19 and 84.04.

Forex_Dollar_Looks_for_Direction_as_Gold_SP_500_Find_Interim_Support_body_Picture_1.png, Dollar Looks for Direction as Gold, S&P 500 Find Interim Support

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.


News & Analysis at your fingertips.