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.

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
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
Bullish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Heads Up:🇬🇧 Public Sector Net Borrowing (MAY) due at 06:00 GMT (15min) Expected: £-26.1B Previous: £-31.7B https://www.dailyfx.com/economic-calendar#2021-06-22
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/er7rtWCEP0
  • (Tech Special) Canadian Dollar Outlook: USD/CAD Surge Hits Obstacles, Where to Next? #CAD $USDCAD #Loonie #technicalanalysis https://www.dailyfx.com/forex/technical/article/special_report/2021/06/22/Canadian-Dollar-Outlook-USDCAD-Surge-Hits-Obstacles-Where-to-Next.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/t4jCG9jNkO
  • Hang Seng Tech Index - Bullish MACD Convergence is forming - #HSTECH chart https://t.co/oy6GUjNqvG
  • 🇳🇱 Consumer Confidence (JUN) Actual: -3 Previous: -9 https://www.dailyfx.com/economic-calendar#2021-06-22
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/reRmDe1Ksp https://t.co/ZBGVwxip3g
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 87.34%, while traders in France 40 are at opposite extremes with 74.19%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/aQ1Vgos6em
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: -0.07% 🇯🇵JPY: -0.07% 🇨🇦CAD: -0.10% 🇨🇭CHF: -0.15% 🇳🇿NZD: -0.15% 🇦🇺AUD: -0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ifGQz24uiW
  • Heads Up:🇳🇱 Consumer Confidence (JUN) due at 04:30 GMT (15min) Previous: -9 https://www.dailyfx.com/economic-calendar#2021-06-22
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: France 40: 0.37% FTSE 100: 0.27% Germany 30: 0.26% Wall Street: 0.22% US 500: 0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/FSBd3FRuSA
Dollar Sets Sights on New 3-Year High, S&P 500 Gains Corrective

Dollar Sets Sights on New 3-Year High, S&P 500 Gains Corrective

Ilya Spivak, Head Strategist, APAC

THE TAKEAWAY: The US Dollar is aiming to set another three-year high while recent S&P 500 gains continue to look corrective in the context of a larger decline.

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

US DOLLAR TECHNICAL ANALYSIS – Prices narrowly edged above resistance at 10980, the 100% Fibonacci expansion, opening the door for a move higher to challenge the 123.6% level at 11101. The 10980 mark has been recast as near-term support. A reversal back beneath that aims for the 76.4% expansion at 10859.

Forex_Dollar_Sets_Sighs_on_New_3-Year_High_SP_500_Gains_Corrective_body_Picture_5.png, Dollar Sets Sights on New 3-Year High, S&P 500 Gains Corrective

Daily Chart - Created Using FXCM Marketscope 2.0

S&P 500 TECHNICAL ANALYSIS – Prices moved higher as expected after putting in a bullish Piercing Line candlestick pattern. Near-term resistance is at 1638.40, the 61.8% Fibonacci retracement. A break above that initially exposes the 76.4% level at 1657.10. Near-term support is at 1623.30, the 50% Fib. Gains are seen as corrective absent a daily close above support-turned-resistance at a rising trend line set from mid-November 2012 (now at 1640.80).

Forex_Dollar_Sets_Sighs_on_New_3-Year_High_SP_500_Gains_Corrective_body_Picture_6.png, Dollar Sets Sights on New 3-Year High, S&P 500 Gains Corrective

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices turned lower anew, with sellers challenging support marked by the 23.6% Fibonacci expansion at 1209.88. A break beneath that initially targets the 38.2% level at 1174.32. Near-term resistance is at 1267.36, the July 2 swing high.

Forex_Dollar_Sets_Sighs_on_New_3-Year_High_SP_500_Gains_Corrective_body_Picture_7.png, Dollar Sets Sights on New 3-Year High, S&P 500 Gains Corrective

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS Prices advanced as expected after putting in a bullish Piercing Line candlestick pattern above trend line support. A break above the 76.4% Fibonacci expansion at 103.06 has exposed the 100% level at 106.26. Alternatively, a reversal back beneath 103.06 sees the next layer of support at 101.07, the 61.8% Fib.

Forex_Dollar_Sets_Sighs_on_New_3-Year_High_SP_500_Gains_Corrective_body_Picture_8.png, Dollar Sets Sights on New 3-Year High, S&P 500 Gains Corrective

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