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
Bearish
USD/JPY
Bullish
Gold
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
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
  • GBP/USD Technical Analysis: British Pound Trend Reversal in Play - https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2020/02/20/GBPUSD-Technical-Analysis-British-Pound-Trend-Reversal-in-Play.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #GBPUSD #technicalanalysis https://t.co/R74kxDFLc7
  • 🇪🇺 EUR German GfK Consumer Confidence (MAR), Actual: 9.8 Expected: 9.8 Previous: 9.9 https://www.dailyfx.com/economic-calendar#2020-02-20
  • Heads Up:🇪🇺 EUR German GfK Consumer Confidence (MAR) due at 07:00 GMT (15min), Actual: N/A Expected: 9.8 Previous: 9.9 https://www.dailyfx.com/economic-calendar#2020-02-20
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/YZQdz0J9Qx
  • The #Euro may retrace higher before resuming a selloff that brought the single currency to the lowest level in close to three years against the US Dollar. Get your market update from @IlyaSpivak here: https://t.co/6tE2Xibkiw https://t.co/LW8VClzEHx
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.26%, while traders in France 40 are at opposite extremes with 85.07%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/o7bhcPUReq
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.02% 🇯🇵JPY: 0.00% 🇨🇦CAD: -0.06% 🇬🇧GBP: -0.08% 🇦🇺AUD: -0.39% 🇳🇿NZD: -0.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/9hDuPgcn3f
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: US 500: -0.10% Wall Street: -0.12% France 40: -0.22% Germany 30: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/utmcDfNHPB
  • AUD/USD, NZD/USD Sink as China Rate Cuts Fails to Impress - https://www.dailyfx.com/forex/market_alert/2020/02/20/AUDUSD-NZDUSD-Sink-as-China-Rate-Cuts-Fails-to-Impress.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #AUDUSD #NZDUSD #China #coronavirus https://t.co/xjl2XtZEZd
  • The $USD may reclaim some of its lost territory against the Swedish Krona and Norwegian Krone ahead of the release of the #FOMC minutes and Iran election. Get your market update from @ZabelinDimitri here: https://t.co/KjkR8mJu8s https://t.co/51oFw7ISTx
US Dollar Attempting Recovery as SPX 500 Keeps Pushing Higher

US Dollar Attempting Recovery as SPX 500 Keeps Pushing Higher

2013-10-29 03:24:00
Ilya Spivak, Sr. Currency Strategist
Share:

Talking Points

  • US Dollar Finds Support, Attempts to Stage Cautious Recovery
  • S&P 500 Upward Push Continues to Set Another Record High
  • Crude Oil Begins to Recover from Chart Support as Expected

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 above resistance in the in the 10416-24 region, the site of April’s shelf support and the 38.2%Fibonacci expansion. A break higher on a daily closing basis exposes the 23.6% level at 10468. Near-term support is at 10374, the 50% Fib, with a reversal back beneath that targeting the 10323-31 area (marked by the June 2012 swing high and the 61.8% expansion).

Forex_US_Dollar_Attempting_Recovery_as_SPX_500_Keeps_Pushing_Higher_body_Picture_5.png, US Dollar Attempting Recovery as SPX 500 Keeps Pushing 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 recovered as expected after showing a Spinning Top candlestick at support marked by a rising trend line set from late February. A break above resistance at 1754.40, the 100% Fibonacci expansion, has exposed the 123.6% level at 1779.80. Alternatively, dropping back below 1754.40 sees the first layer of support at 1729.00, the 76.4% Fib.

Forex_US_Dollar_Attempting_Recovery_as_SPX_500_Keeps_Pushing_Higher_body_Picture_6.png, US Dollar Attempting Recovery as SPX 500 Keeps Pushing Higher

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices broke higher as expected after putting in a bullish Morning Star candlestick pattern. Resistance is now at 1364.06, the 61.8% Fibonacci retracement, with a break above that targeting the 76.4% level at 1390.64. Near-term support is at 1342.57, the 50% Fib. A reversal back beneath that eyes the 38.2% Fib at 1321.09.

Forex_US_Dollar_Attempting_Recovery_as_SPX_500_Keeps_Pushing_Higher_body_Picture_7.png, US Dollar Attempting Recovery as SPX 500 Keeps Pushing Higher

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS Prices rose as expected after putting in a bullish Morning Star candlestick pattern at the bottom of a falling channel set from late August. Near-term resistance is at 99.77, the 23.6% Fibonacci retracement, with a break above that targeting the channel top at 101.32. Channel bottom support is now at 96.07.

Forex_US_Dollar_Attempting_Recovery_as_SPX_500_Keeps_Pushing_Higher_body_Picture_8.png, US Dollar Attempting Recovery as SPX 500 Keeps Pushing 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.