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
EUR/USD
Mixed
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
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
USD/JPY
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
  • President Biden: - We agreed to do more to enhance the resilience of critical infrastructure around the world - More work to do to beat the virus; we cannot let our guards down
  • AUD/USD is little changed from the start of the year as the Reserve Bank of Australia (RBA) remains reluctant to normalize monetary policy. Get your $AUDUSD market update from @DavidJSong here:https://t.co/nkHYQMMv4F https://t.co/V70PNu3FRd
  • President Biden: - Endorsed new (NATO) cyber defense policy - Adopted climate security plan (NATO)
  • Bitcoin slightly off its intraday highs, currently trading back below $40,000 #Bitcoin $BTCUSD https://t.co/MYISOU8c9B
  • The US 10Y beginning to retrace some of last week's rally, slowly crawling back towards 1.50% https://t.co/P2a5fHQUlq
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.03% Silver: -0.22% Gold: -0.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/XxGZAbPEdL
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 74.73%, while traders in France 40 are at opposite extremes with 78.49%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7XIu5r1o2l
  • #Euro Forecast: $EURUSD Falters at Yearly Open Resistance- #FOMC Levels - https://t.co/uWukTncIRg https://t.co/dn84mhHxQx
  • The gold monthly opening-range is set just below confluence resistance – breakout to offer guidance. Get your $XAUUSD market update from @MBForex here:https://t.co/19rCMiLlxG https://t.co/uFGK8q14KG
  • WTI Crude Oil Breakout (Update) https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/06/14/wti-crude-oil-breakout-update.html $oil #oott https://t.co/UGOItnUhgd
US Dollar Falters at Resistance, SPX 500 Looking for Direction

US Dollar Falters at Resistance, SPX 500 Looking for Direction

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • US Dollar Recoils Downward from 2-Month Trend Resistance
  • S&P 500 Continues to Search for Direction Near 2013 Top
  • Gold Reverses as Expected, Crude Oil Hits Three-Week High

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

US DOLLAR TECHNICAL ANALYSISPrices are testing below support in the 10707-27 area, marked by the December 19 high and the 23.6% Fibonacci expansion. A break downward initially targets rising channel support at 10646. Near-term resistance is in the 10761-69 region, bracketed by the 38.2% Fib and the channel’s upper boundary.

Forex_US_Dollar_Falters_at_Resistance_SPX_500_Still_Looking_for_Direction_body_Picture_4.png, US Dollar Falters at Resistance, SPX 500 Looking for Direction

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 ANALYSISPrices are testing resistance in the 1844.90-49.10 area, marked by the December 31 high and the 14.6% Fibonacci expansion. A break higher exposes the 23.6% level at 1863.10. Near-term support is at 1819.60, the 14.6% Fib retracement.

Forex_US_Dollar_Falters_at_Resistance_SPX_500_Still_Looking_for_Direction_body_Picture_3.png, US Dollar Falters at Resistance, SPX 500 Looking for Direction

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS – Prices turned lower as expected after putting in a Shooting Star candlestick below support-turned-resistance at 1261.82, completing a bearish Rising Wedge chart formation. From here, a close beneath horizontal pivot support at 1240.12 exposes 1218.82, the 23.6% Fibonacci expansion. Wedge bottom support-turned-resistance is at 1247.80.

Forex_US_Dollar_Falters_at_Resistance_SPX_500_Still_Looking_for_Direction_body_Picture_2.png, US Dollar Falters at Resistance, SPX 500 Looking for Direction

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSISPrices pushed higher as expected after putting in a bullish Piercing Line candlestick pattern. A break above resistance at 95.97, the 50% Fibonacci retracement, exposes the 61.8% level at 97.09. Reversing below support at 94.85, the 38.2% Fib, aims for the 23.6% retracement at 93.46.

Forex_US_Dollar_Falters_at_Resistance_SPX_500_Still_Looking_for_Direction_body_Picture_1.png, US Dollar Falters at Resistance, SPX 500 Looking for Direction

Daily Chart - Created Using FXCM Marketscope 2.0

--- 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