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
Bullish
Gold
Bullish
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
Mixed
More View more
Real Time News
  • The $USDJPY breakout is approaching initial resistance targets just higher. Look for a weekly close above 110.69 to validate the breakout / keep the long-bias in play. Get your USD/JPY technical analysis from @MBForex here: https://t.co/i5Cc4d3e04 https://t.co/hMDO8tsqkD
  • $USDJPY Daily Pivot Points: S3: 107.85 S2: 109.42 S1: 110.4 R1: 111.97 R2: 112.57 R3: 114.14 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • RT @iv_technicals: Remember 2007? (via @hmeisler) https://t.co/uBcHysanRT
  • Hubei province reports 349 new coronavirus cases after guideline revisions - 108 new deaths - BBG
  • RT @TaviCosta: Ominous. FX vol just reached its lowest in 28 years. Similar levels preceded major downturns: Asian Crisis, Great Recessio…
  • $AUDUSD hovers near decade lows as coronavirus fallout batters the Australian Dollar, but the Aussie now looks to monthly employment data due Thursday, February 20 at 00:30 GMT and subsequent changes in RBA rate cut bets. Full analysis via @DailyFX below: https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2020/02/19/audusd-forecast-aussie-dollar-eyes-australian-jobs-data-rba.html
  • The #Dow Jones approaches the famed 30,000 mark as bullishness continues. Similarly, the S&P 500 nears 3,400. Get your #equity market update from @PeterHanksFX here: https://t.co/NtGl63wNf1 https://t.co/aooktssNeV
  • Precious Metals Update: #Gold 1,611,55 (-0.01%), #Aluminum 1,720.00 (-0.06%), and #Copper 5,773.00 (-0.67%) [delayed]
  • ❗Heads Up Traders❗ Will be covering the Australian jobs report in 2 hours. $AUDUSD can't quite break under support and now there is ominous positive RSI divergence. Will a better-than-expected outcome be the turning point? #AUD $AUDJPY $AUDNZD #AUDCAD - https://www.dailyfx.com/webinars/475271731?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/V8P6Q2WpPq
  • Yes, that was quite the surge in $USDJPY today. Just a reminder that using my majors-based #Yen index, the dominant uptrend is still in play via rising support from 2018. There was a break under the near-term rising trend line which may take JPY down to lows from DEC & JAN https://t.co/N2fXmKEfep
Dollar Rebounds from June Bottom, SPX 500 May Correct Higher

Dollar Rebounds from June Bottom, SPX 500 May Correct Higher

2013-10-10 03:49:00
Ilya Spivak, Sr. Currency Strategist
Share:

Talking Points

  • US Dollar Launching Rebound from June Bottom, as Expected
  • S&P 500 Candlestick Setup Hints a Recovery May be Ahead
  • Gold Recoils from Trend Line Resistance, Aim Below 1300.00

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 rising as expected after putting in a bullish Morning Star candlestick pattern above support at 10469, the June swing bottom. Initial resistance is at 10536, the 23.6% Fibonacci retracement, with a break above that targeting the 38.2% level at 10591.

Forex_Dollar_Rebounds_from_June_Bottom_SPX_500_May_Correct_Higher_body_Picture_5.png, Dollar Rebounds from June Bottom, SPX 500 May Correct Higher

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 Spinning Top candlestick at support marked by a rising trend line set from late February, hinting a bounce may be ahead. Near-term resistance is in the 1672.30-40 area, marked by the underside of the broken trend line as well as a horizontal pivot level (1672.40) and the 23.6% Fibonacci expansion. A break above that exposes the 38.2% level at 1688.00. Trend line support is now at 1653.80, followed by the October 9 low at 1646.90.

Forex_Dollar_Rebounds_from_June_Bottom_SPX_500_May_Correct_Higher_body_Picture_6.png, Dollar Rebounds from June Bottom, SPX 500 May Correct Higher

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices recoiled from falling trend line set from late August to test below support at 1306.88, the 50% Fibonacci retracement. Continued weakness from here sees the next layer of support at 1276.97, the 61.8% Fib. Trend line resistance is now at 1321.03, followed by the 38.2% retracement at 1336.79.

Forex_Dollar_Rebounds_from_June_Bottom_SPX_500_May_Correct_Higher_body_Picture_7.png, Dollar Rebounds from June Bottom, SPX 500 May Correct Higher

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 (104.98). 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 (107.58). Alternatively, a push through support initially targets supports at the 100.00 figure and 98.99.

Forex_Dollar_Rebounds_from_June_Bottom_SPX_500_May_Correct_Higher_body_Picture_8.png, Dollar Rebounds from June Bottom, SPX 500 May Correct Higher

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.