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
EUR/USD
Bearish
Oil - US Crude
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
Wall Street
Mixed
Gold
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
GBP/USD
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
USD/JPY
Bullish
More View more
Real Time News
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.49% US 500: 0.42% FTSE 100: 0.34% Germany 30: 0.28% France 40: 0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/eQC60R71rR
  • $EURUSD Rates May Extend Slide Lower on #Covid_19 #SecondWave Fears ⬇️ https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2020/09/25/EURUSD-Rates-May-Extend-Slide-Lower-on-Covid-19-Second-Wave-Fears-.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr https://t.co/eWYXYmWLPm
  • 🇬🇧 Public Sector Net Borrowing (AUG) Actual: £-35.2B Expected: £-35.1B Previous: £-15.44B https://www.dailyfx.com/economic-calendar#2020-09-25
  • Have you been catching on your @DailyFX podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/oqbtFfeo4K
  • 🇬🇧 Public Sector Net Borrowing (AUG) Actual: £-35.92B Expected: £-35.1B Previous: £-15.44B https://www.dailyfx.com/economic-calendar#2020-09-25
  • The US Dollar, British Pound, and Euro will all be closely watching key geopolitical developments in North America (Powell testimony), the UK (Brexit talks) and Europe (EU summit). Get your market update from @ZabelinDimitri here:https://t.co/q4AJW6PTCu https://t.co/w6ETarBuNl
  • Heads Up:🇬🇧 Public Sector Net Borrowing (AUG) due at 06:00 GMT (15min) Expected: £-35.1B Previous: £-25.9B https://www.dailyfx.com/economic-calendar#2020-09-25
  • $EURUSD break below the neckline of a 2-month Head and Shoulders pattern suggests that a test of the 200-MA could be on the cards. However, with support holding at the 38.2% Fib and the RSI swerving away from oversold territory, could this prove to be a mere false-break? $EUR https://t.co/ZIiVc4gAyP
  • Following recent price action and developing technical patterns, $USDINR may rise while the #nifty50 could be at risk to further losses. Check out my full technical report here - https://www.dailyfx.com/forex/technical/article/special_report/2020/09/25/Indian-Rupee-Nifty-50-Technical-View-USDINR-May-Rise-as-Index-Falls.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/faEdOS8aMA
  • S&P 500 index vs. Fed balance sheet (2015-2020) https://t.co/6iFs2y2L68
US Dollar Chart Setup Favors Weakness, S&P 500 Breaks Support

US Dollar Chart Setup Favors Weakness, S&P 500 Breaks Support

2013-06-03 06:09:00
Ilya Spivak, Head Strategist, APAC
Share:

THE TAKEAWAY: US Dollar technical positioning hints prices are vulnerable to deeper losses. Meanwhile, the S&P 500 has edged past the first layer of key chart support.

Capitalize on Shifts in Market Mood with the DailyFX Speculative Sentiment Index.

US DOLLAR TECHNICAL ANALYSIS Prices moved lower as expected, with prices taking out rising channel support after completing a Bearish Engulfing candlestick pattern. Sellers now aim to challenge the 38.2% Fibonacci retracement level at 10694, with a move beneath that exposing the 50% Fib at 10638. Channel support-turned-resistance is now at 10804.

Forex_US_Dollar_Chart_Setup_Favors_Weakness_SP_500_Breaks_Support_body_Picture_5.png, US Dollar Chart Setup Favors Weakness, S&P 500 Breaks Support

Daily Chart - Created Using FXCM Marketscope 2.0

S&P 500 TECHNICAL ANALYSIS – Prices broke support at 1637.00, the 14.6% Fibonacci retracement, exposing the 23.6% Fib at 1605.90. A further push below that eyes the 38.2% Fib at 1555.50. Near-term resistance is at the May 22 high (1687.40), a barrier reinforced by the underside of a broken rising trend line set from mid-April (now at 1682.00).

Forex_US_Dollar_Chart_Setup_Favors_Weakness_SP_500_Breaks_Support_body_Picture_6.png, US Dollar Chart Setup Favors Weakness, S&P 500 Breaks Support

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices put in a Bearish Engulfing candlestick pattern, hinting a turn lower may be ahead. Near-term support is at 1386.51, the 23.6% Fibonacci retracement. A break below that targets the 38.2% level at 1364.62. Initial resistance is at 1421.90, the May 31 swing high.

Forex_US_Dollar_Chart_Setup_Favors_Weakness_SP_500_Breaks_Support_body_Picture_7.png, US Dollar Chart Setup Favors Weakness, S&P 500 Breaks Support

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS Prices appear to have completed a Head and Shoulders top chart formation. Sellers initially eye the May 1 low at 90.09 from here, but the H&S setup implies a measured downside objective at 88.58. Neckline support-turned-resistance is now at 92.71, with a move back above that eyeing the May 28 highat 95.89.

Forex_US_Dollar_Chart_Setup_Favors_Weakness_SP_500_Breaks_Support_body_Picture_8.png, US Dollar Chart Setup Favors Weakness, S&P 500 Breaks Support

Daily Chart - Created Using FXCM Marketscope 2.0

--- 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