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
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
Mixed
GBP/USD
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
USD/JPY
Bearish
More View more
Real Time News
  • Heads Up:🇳🇿 NZD N.Z. Government 8-Month Financial Statements due at 21:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-03-30
  • $USDJPY daily pivot points: S3: 105.64 S2: 106.95 S1: 107.46 P: 108.27 R1: 108.77 R2: 109.58 R3: 110.89
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.42% Gold: -0.34% Silver: -2.90% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/JURRvfA9M7
  • The Mexican Peso could come under further selling pressure and push $USDMXN back above the 25.000 handle. Get your USD/MXN market update from @RichDvorakFX here: https://t.co/nuG3l0YpUW https://t.co/RG5xnr118p
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.82%, while traders in US 500 are at opposite extremes with 71.97%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/VDiXoqXTgf
  • RT @HayekAndKeynes: $198bn of buybacks (equivalent to 27% of ’19 spend) have already been suspended
  • Retail CFD traders at IG are building up their short positions to the highest level I have on my records (stretching only back a year). Nearly a 7 fold increase of the short interest at the start of the year https://t.co/SAmUD2ymIz
  • US Equity Close: $SPX +3.30% $DJI +3.07% $NDX +3.62% $RUT +1.10% $VIX -8.93
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.91% France 40: 0.53% US 500: -0.12% Wall Street: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/uRmj2JayN8
  • S&P 500 Continues Recovery, NFP Looms Large for US Data https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/03/30/ES-SPY-SPX-SP500-Continues-Recovery-NFP-Looms-Large-JS.html https://t.co/SZLy1nqPaz
US Dollar Still Range-Bound as SPX 500 Finds Interim Support

US Dollar Still Range-Bound as SPX 500 Finds Interim Support

2014-01-06 09:57:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • US Dollar Remains Locked in Narrow Range
  • S&P 500 Selloff Meets Interim Support Level
  • Crude Oil Prices Sinking Toward Nov’13 Low

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

US DOLLAR TECHNICAL ANALYSIS – Prices rose as expected after putting in a bullish Piercing Line candlestick pattern. A break above range resistance at 10706 targets 10727, the December 19 high, followed by a rising channel top at 10750. Alternatively, a move below range support at 10646 exposes the channel bottom at 10631.

Forex_US_Dollar_Still_Range-Bound_as_SPX_500_Finds_Interim_Support_body_Picture_5.png, US Dollar Still Range-Bound as SPX 500 Finds Interim Support

** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.

S&P 500 TECHNICAL ANALYSIS – Prices are testing support at 1828.14, the 23.6% Fibonacci retracement. A break downward initially exposes 1815.18, the 38.2% level. Near-term resistance is at 1849.10, the December 30 swing high.

Forex_US_Dollar_Still_Range-Bound_as_SPX_500_Finds_Interim_Support_body_Picture_6.png, US Dollar Still Range-Bound as SPX 500 Finds Interim Support

GOLD TECHNICAL ANALYSIS Prices turned higher as expected after putting in a Harami candlestick pattern. A break above resistance at 1224.39, the 23.6% Fibonacci retracement, has exposed the 38.2% level at 1250.63. A further push beyond that aims for the 50% Fib at 1271.84. The 1224.39 mark has been recast as near-term support.

Forex_US_Dollar_Still_Range-Bound_as_SPX_500_Finds_Interim_Support_body_Picture_7.png, US Dollar Still Range-Bound as SPX 500 Finds Interim Support

CRUDE OIL TECHNICAL ANALYSIS Prices fell as expected after putting in a Bearish Engulfing candlestick pattern. A break below 93.86, the 76.4% Fibonacci retracement, exposes the November 26 low at 91.74. Reversing above resistance at 95.17, the 61.8% Fib, targets the 50% retracement at 96.24.

Forex_US_Dollar_Still_Range-Bound_as_SPX_500_Finds_Interim_Support_body_Picture_8.png, US Dollar Still Range-Bound as SPX 500 Finds Interim Support

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

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

Contact and follow Ilya on Twitter: @IlyaSpivak

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.