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
GBP/USD
Mixed
USD/JPY
Bullish
Gold
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
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
Bitcoin
Bearish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.59%, while traders in France 40 are at opposite extremes with 77.37%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ptMwCK0s4P
  • Forex Update: As of 13:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.21% 🇯🇵JPY: 0.12% 🇨🇭CHF: -0.10% 🇨🇦CAD: -0.22% 🇦🇺AUD: -0.52% 🇳🇿NZD: -0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/HDbe672ahy
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.52%, while traders in France 40 are at opposite extremes with 77.95%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/lXYqxrSYOx
  • LIVE NOW! Analyst and Editor @MartinSEssex will discuss the most important events and themes that have driven market sentiment and will drive it in the days ahead here - https://www.dailyfx.com/webinars/181540619?CHID=9&QPID=917720&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Silver: 0.47% Gold: 0.38% Oil - US Crude: -1.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ebwfouQlSh
  • Canadian Dollar Weekly Forecast: USD/CAD Reverses Lower, What’s Next? More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/usd-cad/2020/02/18/Canadian-Dollar-Weekly-Forecast-USDCAD-Reverses-Lower-Whats-Next-MK.html?CHID=9&QPID=917714 https://t.co/EiVBMfDCrE
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.26% 🇯🇵JPY: 0.15% 🇨🇭CHF: 0.02% 🇨🇦CAD: -0.17% 🇦🇺AUD: -0.41% 🇳🇿NZD: -0.59% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/FwpqfFNv0d
  • My weekly free webinar on market sentiment is coming up at half past the hour. Do join me if you can. You can sign up here: https://www.dailyfx.com/webinars?ref-author=essex&QPID=917711&CHID=9
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: France 40: -0.40% US 500: -0.58% Germany 30: -0.64% Wall Street: -0.66% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/XGUopzAPTp
  • LIVE IN 30 MIN: Analyst and Editor @MartinSEssex will discuss the most important events and themes that have driven market sentiment and will drive it in the days ahead here - https://www.dailyfx.com/webinars/181540619?CHID=9&QPID=917720&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
US Dollar, SPX 500 Positioning Still Warning of Reversals

US Dollar, SPX 500 Positioning Still Warning of Reversals

2013-10-08 02:48:00
Ilya Spivak, Sr. Currency Strategist
Share:

Talking Points

  • Candle Pattern Hints US Dollar May Rebound from June Low
  • S&P 500 Shows Possible Reversal Signal at Critical Trend Line
  • Gold Prices Continue to Tread Water Above $1300/oz Figure

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 put in a bullish Morning Star candlestick pattern above support at 10469, the June swing bottom, hinting a move higher is ahead. Positive RSI divergence bolsters the case for an upside scenario. Initial resistance is at 10536, the 23.6% Fibonacci retracement, with a break above that targeting the 38.2% level at 10591.

Forex_US_Dollar_SPX_500_Positioning_Still_Warning_of_Reversals_body_Picture_5.png, US Dollar, SPX 500 Positioning Still Warning of Reversals

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 Bullish Engulfing above rising trend line support set from November 2012, hinting a rebound is ahead. Initial resistance is at 1695.50, the 23.6% Fibonacci expansion, with a break above that targeting the 38.2% level at 1711.20. Alternatively, a reversal below the trend line (1672.60) and the 61.8% Fib retracement (1667.70) exposes the 76.4% mark at 1652.00.

Forex_US_Dollar_SPX_500_Positioning_Still_Warning_of_Reversals_body_Picture_6.png, US Dollar, SPX 500 Positioning Still Warning of Reversals

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices continue to hover below resistance at a falling trend line set from late August, now at 1328.39. This barrier is reinforced by the 38.2% Fibonacci retracement at 1337.32, with a break above the latter level targeting the 50% Fib at 1355.70. Horizontal pivot support is at 1275.51.

Forex_US_Dollar_SPX_500_Positioning_Still_Warning_of_Reversals_body_Picture_7.png, US Dollar, SPX 500 Positioning Still Warning of Reversals

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 (104.90). This is reinforced by the top of a falling channel set from the August 28 swing high. A break upward aims for the underside of a rising trend line set from mid-April (107.24). Alternatively, a push through support initially targets the $100.00/barrel figure.

Forex_US_Dollar_SPX_500_Positioning_Still_Warning_of_Reversals_body_Picture_8.png, US Dollar, SPX 500 Positioning Still Warning of Reversals

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.