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
Subscribe
Please try again
EUR/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
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.17% 🇨🇭CHF: 0.14% 🇦🇺AUD: -0.05% 🇨🇦CAD: -0.08% 🇳🇿NZD: -0.13% 🇬🇧GBP: -0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/cSsg7l8b4x
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.05% Wall Street: 0.01% US 500: 0.01% France 40: -0.02% FTSE 100: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/CyoJBdYbGT
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Gold: 0.01% Silver: -0.22% Oil - US Crude: -0.93% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/cZeVIxiAJm
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.32%, while traders in NZD/USD are at opposite extremes with 75.03%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/fmCBX0W0w3
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Gold: 0.07% Silver: -0.21% Oil - US Crude: -0.93% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/MBlfthkrSp
  • Heads Up:🇲🇽 Monetary Policy Meeting Minutes due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-11-26
  • What are some key influences Black Friday has on the economy and stock markets? Find out: https://t.co/KIsvaIWZDN https://t.co/NS7o4MrEok
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.06% US 500: 0.04% Wall Street: 0.01% France 40: -0.03% FTSE 100: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/zTLPlL868T
  • 🇨🇦 Average Weekly Earnings YoY (SEP) Actual: 6.9% Previous: 7.9% https://www.dailyfx.com/economic-calendar#2020-11-26
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.45%, while traders in NZD/USD are at opposite extremes with 74.75%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/rb0KHIpnDO
US Dollar Stalls at Resistance, S&P 500 Challenges May Top

US Dollar Stalls at Resistance, S&P 500 Challenges May Top

2013-07-16 03:34:00
Ilya Spivak, Head Strategist, APAC
Share:

THE TAKEAWAY: An attempted recovery from the US Dollar has been cut short at technical resistance while the S&P 500 has pushed higher to challenge the May swing high.

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

US DOLLAR TECHNICAL ANALYSIS – Prices turned lower as expected, finding initial support at 10803 marked by the 38.2% Fibonacci retracement. A bullish Piercing Line candlestick pattern hints at the potential for renewed upside momentum. However, a Doji candle formed on a test of initial resistance at 10882 – the 23.6% level – points to indecision and injects a degree of doubt in bullish follow-through. Confirmation on a close above 10882 exposes the July 8 high at 11009. Alternatively, a reversal below support aims for the 50% Fib at 10739.

Forex_US_Dollar_Stalls_at_Resistance_SP_500_Challenges_May_Top_body_Picture_5.png, US Dollar Stalls at Resistance, S&P 500 Challenges May Top

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. A break above resistance at 1678.40, the 78.6% Fibonacci expansion, has now exposed the May 22 high at 1687.40. A further move above this barrier targets the 100% level at 1710.90. Alternatively, a reversal back below 1678.40 sees support at 1652.90, the 61.8% Fib.

Forex_US_Dollar_Stalls_at_Resistance_SP_500_Challenges_May_Top_body_Picture_6.png, US Dollar Stalls at Resistance, S&P 500 Challenges May Top

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices put in a Hanging Man candlestick below resistance at 1297.75, the 38.2% Fibonacci retracement, signaling indecision and warning that a pullback may be around the corner. Near-term support is at 1252.80, the 23.6% level, with a break beneath that eyeing swing lows at 1208.10 and 1180.15. Alternatively, a push above resistance exposes the 50% Fib at 1334.08.

Forex_US_Dollar_Stalls_at_Resistance_SP_500_Challenges_May_Top_body_Picture_7.png, US Dollar Stalls at Resistance, S&P 500 Challenges May Top

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS Prices put in a bearish Dark Cloud Cover candlestick pattern, hinting a move lower is ahead. Near-term support is at 103.93, the 23.6% Fibonacci retracement, with a break beneath that targeting a rising trend line at 102.18 and the 50% level at 100.05. The bearish candle setup would be invalidated on a close above 107.41, the July 11 high.

Forex_US_Dollar_Stalls_at_Resistance_SP_500_Challenges_May_Top_body_Picture_8.png, US Dollar Stalls at Resistance, S&P 500 Challenges May Top

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