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. See our updated Privacy Policy here.

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
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
More View more
Real Time News
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/HGWZikGQAa
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/bZEFtp8kFe https://t.co/2cQ0JgAfh7
  • Crude oil prices collapsed on Monday despite an OPEC+ breakthrough, driven by Covid-induced demand woes. Meanwhile, Gold is at odds with a stronger US Dollar and falling Treasury yields. Get your #crudeoil market update from @FxWestwater here:https://t.co/H1vmag8d1k https://t.co/1zuPdKUmyE
  • AUD/USD is likely to face increased volatility over the coming days as it faces a batch of key event risks going into the end of July. Get your Australian Dollar forecast from @DavidJSong here: https://t.co/qFpg0DCxxL https://t.co/quQxg4WBy3
  • The US Dollar outlook against ASEAN currencies like the Singapore Dollar, Thai Baht, Indonesian Rupiah and Philippine Peso remains bullish amid capital outflows risks as Covid cases swell. Get your market update from @ddubrovskyFX here:https://t.co/vRUVxvQP8o https://t.co/cUEkW9BfIP
  • Is investing in your favorite brand or buying its products the better financial move? Read the article for a breakdown. https://t.co/iWOlDAK8cD https://t.co/0uS5VvWj12
  • Crude oil prices collapsed on Monday despite an OPEC+ breakthrough, driven by Covid-induced demand woes. Meanwhile, Gold is at odds with a stronger US Dollar and falling Treasury yields. Get your #crudeoil market update from @FxWestwater here:https://t.co/H1vmag8d1k https://t.co/PW5pCw9dKR
  • The Japanese Yen has been making a comeback, but it may soon resume its decline against the US Dollar as USD/JPY consolidates within a bullish Falling Wedge. Watch for a breakout. Get your market update from @ddubrovskyFX here:https://t.co/zxRWoNR4lS https://t.co/bXTx0TSRmU
  • BTC/USD treading water sideways, 28600 the big level to watch. ETH/USD working on forming a nice-looking descending wedge. Get your market update from @PaulRobinsonFX here:https://t.co/H1qOV4FR1P https://t.co/tjutUl7Nt7
  • Gold hasn’t been very active the past few sessions, but that could change next week and provide a stronger trading bias. Get your weekly gold technical forecast from @PaulRobinsonFX here: https://t.co/HaEe3i4Sug https://t.co/LsARS2mnFI
US Dollar Treading Water, SPX 500 Testing September Top

US Dollar Treading Water, SPX 500 Testing September Top

Ilya Spivak, Head Strategist, APAC

Talking Points

  • US Dollar Remains Locked in Range Above June Swing Bottom
  • S&P 500 Pushing Higher to September Swing Top Above 1700
  • Gold Chart Setup Hints at Upswing, Key Resistance Seen Ahead

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 edged higher as expected after putting in a bullish Morning Star candlestick pattern above support at 10469, the June swing bottom. Initial resistance is at 10539, the 23.6% Fibonacci retracement, with a break above that targeting the 38.2% level at 10591.

Forex_US_Dollar_Treading_Water_SPX_500_Testing_September_Top_body_usd.png, US Dollar Treading Water, SPX 500 Testing September Top

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 recovered as expected after showing a Spinning Top candlestick at support marked by a rising trend line set from late February. Near-term resistance is now at 1729.00, the 76.4% Fibonacci expansion, with a break above that targeting the 100% level at 1754.40. Alternatively, a break below support at 1713.30 the 61.8% Fib exposes the 50% expansion at 1700.70

Forex_US_Dollar_Treading_Water_SPX_500_Testing_September_Top_body_spx.png, US Dollar Treading Water, SPX 500 Testing September Top

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices put in a bullish Morning Star candlestick pattern, hinting a move higher is ahead. Initial resistance is at 1294.51, the 23.6% Fibonacci retracement. This barrier is reinforced by a falling trend line set from the August swing top. A break above that initially targets the 38.2% level at 1321.09. Near-term support is at 1251.54, the October 15 low.

Forex_US_Dollar_Treading_Water_SPX_500_Testing_September_Top_body_gold.png, US Dollar Treading Water, SPX 500 Testing September Top

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 top of a falling channel set from the August 28 swing high (now at 103.32). A break upward initially targets the underside of a rising channel set from early July (105.30).Alternatively, a push through support initially targets supports at the 100.00 figure and 98.99.

Forex_US_Dollar_Treading_Water_SPX_500_Testing_September_Top_body_crude.png, US Dollar Treading Water, SPX 500 Testing September Top

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