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
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
Gold
Bullish
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
Bitcoin
Mixed
More View more
Real Time News
  • The status of the US #dollar as the safe-haven asset of choice remains untouched and any weakness in the greenback is likely to be short-lived. Get your $USD market update from @nickcawley1 here: https://t.co/LO2u38jpUT https://t.co/ctgCJSOeTH
  • #FTSE 100 testing key support as the index lacks a directional bias. #DAX reverses off channel top. Get your indices technical analysis from @JMcQueenFX here: https://t.co/IHF2dgMfg9 https://t.co/2fMTFlOeTR
  • With knowledge of price action, traders can perform a wide range of technical analysis functions without the necessity of any indicators, including management of risk. Build on you knowledge of price action here: https://t.co/9hQA0bsYtt https://t.co/5KQowxuiBf
  • The term ‘Ichimoku,’ literally means ‘one glance,’ in Japanese. Ichimoku, or the one glance indicator, is considered to be a self-contained system in the fact that no additional indicators are necessary. Learn more about the 'one glance' indicator here: https://t.co/T7o7W9C0Ro https://t.co/7bhBfWvEkR
  • Support and resistance are the cornerstone of technical analysis, making it the foundation that you build your knowledge on. Build a stronger foundation here: https://t.co/yXLaRpl90I https://t.co/85JHunf2Xf
  • Many traders ask how a trading method that is 77 years old is applicable today. Learn about the Gartley pattern and see how you can incorporate it into your trading style here: https://t.co/2yPmGH0XvT https://t.co/rtqUKZSdn1
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/ywv7RVP9qY
  • Crude oil prices may rise on supply-disruption fears after the outcome of the Iran election, but sentiment from #coronavirus fears may derail Brent’s recovery ahead of the G20 summit. Get your crude #oil market update from @ZabelinDimitri here: https://t.co/83iTphwaWv #OOTT https://t.co/RgQku64XyW
  • The Australian Dollar remains severely weighed down by #coronavirus worries and a lack of domestic data points will probably keep that story in the driving seat. Get you $AUDUSD market update from @DavidCottleFX here: https://t.co/qswUnnXVwR https://t.co/NyZ0iEpILm
  • While Sino-US trade jitters are temporarily abating, China-Swedish trade tensions are rising as a part of a political contagion of growing economic hostilities between nations across the world. Get your market update from @ZabelinDimitri here:https://t.co/F1fVoyzoz5 https://t.co/uOLKRebXB1
Dollar Flirts with 4-Month Low, SPX 500 Eyeing Trend Boundary

Dollar Flirts with 4-Month Low, SPX 500 Eyeing Trend Boundary

2013-10-04 07:20:00
Ilya Spivak, Sr. Currency Strategist
Share:

Talking Points

  • US Dollar Selling Continues as Prices Test Below June Swing Bottom
  • S&P 500 Edging to Support Defining Rising Trend from November 2012
  • Gold Recovery Capped at Chart Resistance, Bias Favors Weakness

To receive Ilya's analysis directly via email, please SIGN UP HERE

Can’t access to the Dow Jones FXCM US Dollar Index? Try the USD basket on Mirror Trader. **

US DOLLAR TECHNICAL ANALYSIS – Prices are testing support in the 10450-69 area, marked by the June 13 low and the 38.2% Fibonacci expansion. A break below that aims for the 50% level at 10410. Initial resistance is at 10500, the 23.6% Fib, with a turn above that eyeing the 14.6% barrier at 10530.

Forex_Dollar_Flirts_with_4-Month_Low_SPX_500_Eyeing_Trend_Boundary_body_Picture_5.png, Dollar Flirts with 4-Month Low, SPX 500 Eyeing Trend Boundary

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 moved lower as expected, completing a bearish Evening Star candlestick pattern. Sellers narrowly cleared support at 1675.80, the 38.2% Fibonacci expansion, to expose the 50% level at 1668.70. This barrier is reinforced by a rising trend line set from November 2012, with a break downward targeting the 61.8% Fib at 1661.50. A reversal back above 1675.80 eyes the 23.6% expansion at 1684.60.

Forex_Dollar_Flirts_with_4-Month_Low_SPX_500_Eyeing_Trend_Boundary_body_Picture_6.png, Dollar Flirts with 4-Month Low, SPX 500 Eyeing Trend Boundary

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices rebounded from horizontal support at 1275.51 to retest a recently broken upward-sloping barrier, now at 1327.55. A break above that eyes a falling trend line set from the August high at 1334.92 and the 38.2% Fibonacci retracement at 1337.32.

Forex_Dollar_Flirts_with_4-Month_Low_SPX_500_Eyeing_Trend_Boundary_body_Picture_7.png, Dollar Flirts with 4-Month Low, SPX 500 Eyeing Trend Boundary

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS Prices are wedged between support at 100.88, a horizontal pivot dating back to April 2012, and the underside of a rising channel set from early July (104.81). A break higher targets a falling channel top at 105.62, followed by the underside of a rising trend line set from mid-April (106.94). Alternatively, a push through support aims for the 100.00 figure.

Forex_Dollar_Flirts_with_4-Month_Low_SPX_500_Eyeing_Trend_Boundary_body_Picture_8.png, Dollar Flirts with 4-Month Low, SPX 500 Eyeing Trend Boundary

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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.