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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
Wall Street
More View more
Real Time News
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here:
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here:
  • USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here:
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge:
  • The formation of several bullish technical patterns suggests that the haven-associated Japanese Yen is at risk of further losses against the Euro and Australian Dollar. Get your market update from @DanielGMoss here:
  • Natural gas is moving lower after weather models pointed to warmer-than-average temperatures across much of the US. Get your market update from @FxWestwater here:
  • Gold and silver prices may continue to rise in the coming months on the back of falling real rates of return and the prospect of additional fiscal support under a Biden administration. Get your market update from @DanielGMoss here:
  • Will the Swiss Franc find reprieve after recent losses against the Canadian and New Zealand Dollars as NZD/CHF and CAD/CHF uptrends face key chart barriers? Find out from @FxWestwater here:
  • The Australian Dollar may be at risk of losses against the New Zealand Dollar after an unexpectedly high NZ inflation reading sent AUD/NZD towards challenging short-term rising trend support. Get your $AUD market update from @ddubrovskyFX here:
US Dollar Launches Sharp Rebound as SPX 500 Finds Support

US Dollar Launches Sharp Rebound as SPX 500 Finds Support

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • US Dollar Rebounds to Invalidate Range Break
  • S&P 500 Recoils Higher After Hitting 3-Week Low
  • Gold Chart Setup Hints Renewed Selling is Ahead

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

US DOLLAR TECHNICAL ANALYSISPrices overturned yesterday’s range support break and turned sharply higher, forming a Bullish Engulfing candlestick pattern. Initial resistance is at 10707, the 23.6% Fibonacci expansion, with a break above that exposing the 38.2% level at 10761. Channel support is now at 10633.

Forex_US_Dollar_Launches_Sharp_Rebound_as_SPX_500_Finds_Support_body_Picture_5.png, US Dollar Launches Sharp Rebound as SPX 500 Finds Support

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 swiftly rebounded from support at 1819.60, the 14.6% Fibonacci retracement. Breaking above resistance at 1844.90 – the 14.6% Fib expansion – targets the 23.6% level at 1863.10. Alternatively, a turn below support targets the 23.6% retracement at 1801.40.

Forex_US_Dollar_Launches_Sharp_Rebound_as_SPX_500_Finds_Support_body_Picture_6.png, US Dollar Launches Sharp Rebound as SPX 500 Finds Support

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices put in a Bearish Engulfing candlestick pattern below support-turned-resistance at 1261.28, hinting a move lower is ahead. Near-term support is in the 1212.03-17.75 area, marked by the December 2 low and the 23.6% Fibonacci expansion. A break below that targets the 1200.00 figure and the 38.2% level at 1185.34.

Forex_US_Dollar_Launches_Sharp_Rebound_as_SPX_500_Finds_Support_body_Picture_7.png, US Dollar Launches Sharp Rebound as SPX 500 Finds Support

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS Prices overturned yesterday’s breakdown, completing a bullish Piercing Line candlestick pattern. Breaking above resistance at 93.46 – the 23.6% Fibonacci retracement – exposes the 38.2% level at 94.85. Near-term support is at 91.21, the January 9 swing low.

Forex_US_Dollar_Launches_Sharp_Rebound_as_SPX_500_Finds_Support_body_Picture_8.png, US Dollar Launches Sharp Rebound as SPX 500 Finds Support

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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.