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
EUR/USD
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
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
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
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
More View more
Real Time News
  • Update on #Cryptocurrencies #BITCOIN +3.41% #BITCOINCASH +2.15% #ETHEREUM +4.35% #RIPPLE +0.93% #LITECOIN 2.35%
  • Amid escalating China tension, Australian Dollar risk reversals indicate that the bullish bias recently enjoyed by AUD/USD could soon unwind and pressure spot prices back lower. Get your $AUDUSD technical analysis from @RichDvorakFX here: https://t.co/ZAHEwxNrEW https://t.co/gWt401EkQI
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.62% 🇬🇧GBP: 0.50% 🇨🇭CHF: 0.42% 🇦🇺AUD: 0.21% 🇯🇵JPY: 0.09% 🇨🇦CAD: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Gn0ub8TS6e
  • #Gold prices have continued to push higher as expectations have built for global Central Banks to remain very loose and passive with monetary policy for the foreseeable future. Get your $XAUUSD technical analysis from @JStanleyFX here: https://t.co/h5tF3kAZfd https://t.co/gVU4QoQjnv
  • White House says that Trump and Macron talked about COVID-19 and holding G7 meeting in person - BBG
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 0.77% Gold: 0.58% Oil - US Crude: -0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/0LgQROzxEj
  • Is there? Tough assertion to back up... https://t.co/I0TLitj21j
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.91%, while traders in US 500 are at opposite extremes with 76.25%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/JWJfhVeAZH
  • RT @FedResearch: New #IFDPPaper shows how currency hedging links global imbalances to exchange rate determination, cross-currency basis and…
  • $AUD $AUDUSD | Australian Dollar Risk Reversals Slump as China Tension Heats Up (via @DailyFX) -Aussie bulls undermined by stalling call/put skew readings -Daunting confluence of technical resistance near 0.67 a threat Link to More: https://www.dailyfx.com/forex/market_alert/2020/05/28/audusd-aud-usd-price-outlook-australian-dollar-risk-reversals-slump-china-tension.html #FX #Forex #Trading https://t.co/Ra4EJHsyib
US Dollar Looking for Direction, SPX 500 Looks Vulnerable

US Dollar Looking for Direction, SPX 500 Looks Vulnerable

2013-08-27 06:52:00
Ilya Spivak, Head Strategist, APAC
Share:

THE TAKEAWAY: US Dollar price action remains muted as prices linger at a familiar range top. SPX 500 positioning hints renewed selling pressure may be close at hand.

Don’t have access to the Dow Jones FXCM US Dollar Index? Try the USD basket via Mirror Trader as an alternative. **

US DOLLAR TECHNICAL ANALYSIS – Prices put in a Spinning Top candlestick below resistance at 10760, the August 13 high, hinting a move lower may be ahead. Range support is at 10646, with a break below that targeting the bottom of a falling channel set from early July (now at 10575). A reversal above 10760 aims for the channel top at 10797.

Forex_US_Dollar_Looking_for_Direction_SPX_500_Looks_Vulnerable_body_Picture_5.png, US Dollar Looking for Direction, SPX 500 Looks Vulnerable

Daily Chart - Created Using FXCM Marketscope 2.0

** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.

S&P 500 TECHNICAL ANALYSIS – Prices put in a Bearish Engulfing candlestick pattern below resistance at 1669.80, the 23.6% Fibonacci expansion, hinting a move lower is ahead. Initial support is at 1652.10, the 38.2% Fib retracement, with a break below that eyeing the 50% mark at 1634.30. Alternatively, a reversal above 1669.80 targets the 1687.40-1691.80 area, marked by the May 22 high and the 38.2% expansion.

Forex_US_Dollar_Looking_for_Direction_SPX_500_Looks_Vulnerable_body_Picture_6.png, US Dollar Looking for Direction, SPX 500 Looks Vulnerable

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices overturned bearish reversal cues noted last week, pushing higher to take out resistance at the 76.4% Fibonacci expansion (1400.72). The bulls now aim to challenge the top of a rising channel at 1430.85, followed by the 100% level at 1440.23. The 1400.72 mark has been recast as near-term support, with a reversal back beneath that eyeing the channel bottom at 1381.40.

Forex_US_Dollar_Looking_for_Direction_SPX_500_Looks_Vulnerable_body_Picture_7.png, US Dollar Looking for Direction, SPX 500 Looks Vulnerable

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS Prices are tracing out a consolidation Triangle chart pattern, a setup typically indicative of consolidation preceding overall trend resumption (which favors the upside in this case). Resistance at the Triangle top is reinforced by the 38.2% Fibonacci expansion at 108.40, with a break above that targeting the 50% level at 110.32. Triangle support is now at 103.78. A reversal beneath that eyes a rising trend line at 100.58.

Forex_US_Dollar_Looking_for_Direction_SPX_500_Looks_Vulnerable_body_Picture_8.png, US Dollar Looking for Direction, SPX 500 Looks Vulnerable

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

News & Analysis at your fingertips.