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. See our updated Privacy Policy here.



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
More View more
Real Time News
  • Take a closer look visually at the most influential global importers and exporters here:
  • EUR/USD tumbled last week on the day of the ECB’s latest policy announcement, and that weakness is set to continue this week as a flood of major Eurozone economic statistics is released. Get your weekly Euro forecast from @MartinSEssex here:
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • Gold price action is primed for volatility next week with the Fed decision on deck. How real yields and the US Dollar react to fresh guidance from Fed officials will be key for gold outlook. Get your weekly gold forecast from @RichDvorakFX here:
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
US Dollar Grinds Through, S&P 500 Fails to Breach 1600

US Dollar Grinds Through, S&P 500 Fails to Breach 1600

Ilya Spivak, Head Strategist, APAC

THE TAKEAWAY: The US Dollar continues to grind through technical support levels. The S&P 500 pushed higher but failed to overcome the psychologically significant 1600 figure.

US DOLLAR TECHNICAL ANALYSIS Prices broke support at a rising trend line set from late February to challenge the 10424-28 area marked by the 23.6% Fibonacci retracement and the March 22 close. A break beneath that aims for the 38.2% level at 10330. Trend line support-turned-resistance is now at 10461.

Forex_US_Dollar_Grinds_Through_SP_500_Fails_to_Breach_1600_body_Picture_5.png, US Dollar Grinds Through, S&P 500 Fails to Breach 1600

Daily Chart - Created Using FXCM Marketscope 2.0

S&P 500 TECHNICAL ANALYSIS – Prices broke above resistance at 1595.90, the 23.6% Fibonacci expansion, but failed to breach the psychologically significant 1600 figure. A further move beyond that targets the 38.2% level at 1633.20. Alternatively, a reversal back below 1595.90 initially eyes the 14.6% expansion at 1572.90.

Forex_US_Dollar_Grinds_Through_SP_500_Fails_to_Breach_1600_body_Picture_6.png, US Dollar Grinds Through, S&P 500 Fails to Breach 1600

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices broke above resistance at 1469.28, the 50% Fibonacci retracement, as expected. Buyers now aim to challenge the 61.8% level at 1504.14, with a further push above that exposing the 76.4% Fib at 1547.27. The 1469.28 mark has been recast as near-term support. A reversal back beneath that targets the 38.2% retracement at 1434.43.

Forex_US_Dollar_Grinds_Through_SP_500_Fails_to_Breach_1600_body_Picture_7.png, US Dollar Grinds Through, S&P 500 Fails to Breach 1600

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS Prices recoiled from resistance at 94.79, the April 10 high. Near-term support is at 92.62, the 76.4% Fib retracement, with a reversal beneath that aiming for the 61.8% mark at 91.28. Alternatively, a reversal above 94.79 targets the 123.6% Fibonacci extension at 96.96, a barrier reinforced by a falling trend line set from late January.

Forex_US_Dollar_Grinds_Through_SP_500_Fails_to_Breach_1600_body_Picture_8.png, US Dollar Grinds Through, S&P 500 Fails to Breach 1600

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

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.