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
Wall Street
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
More View more
Real Time News
  • EUR/USD extends the series of lower highs and lows from the previous week as European Central Bank (ECB) officials defend the dovish forward guidance for monetary policy. Get your $EURUSD market update from @DavidJSong here:https://t.co/4dgXe9lMik https://t.co/5CkSsQKawh
  • There are reasonable disputes over where technical boundaries exist from people with different views, charts, time frames, etc. I think this $SPX gap down and drive below the 50-day SMA clearly qualifies as a break https://t.co/M15HsOyvoG
  • Some people like a quiet market that edges higher consistently day in and day out. I am not one of those people. I like volatility
  • 🇺🇸 NAHB Housing Market Index (SEP) Actual: 76 Expected: 74 Previous: 75 https://www.dailyfx.com/economic-calendar#2021-09-20
  • The Fed has a rate decision on Wednesday which means that they’re in a blackout period now, preventing the possibility of Fed-speak to perk markets up until we hear the rate decision later this week. Get your market update from @JStanleyFX here:https://t.co/bYjo3Blq51 https://t.co/F51NbRoIOi
  • Heads Up:🇺🇸 NAHB Housing Market Index (SEP) due at 14:00 GMT (15min) Expected: 74 Previous: 75 https://www.dailyfx.com/economic-calendar#2021-09-20
  • quick write-up ahead of the us equity open https://www.dailyfx.com/forex/market_alert/2021/09/20/stocks-hit-as-evergrande-risk-begins-to-spread.html https://t.co/e1KeExz369
  • Airliners hitting session highs following these reports - IAG +7.7% https://t.co/6l9YeffkIy
  • US to relax EU/UK travel restrictions for vaccinated - FT
  • S&P 500 Weekly chart for perspective we're < 5% off of ath's set in early-Sept, at this point $ES $SPY $SPX https://t.co/XO0GWRe2Ov https://t.co/dkYu360DoA
US Dollar Rebound Hinted, SPX 500 at Pivotal Chart Support

US Dollar Rebound Hinted, SPX 500 at Pivotal Chart Support

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • US Dollar Setup Hints at Upcoming Recovery
  • S&P 500 Testing Pivotal Chart Support Cluster
  • Gold Prices Signal a Reversal Lower is Ahead

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

US DOLLAR TECHNICAL ANALYSISPrices put in a bullish Piercing Line candlestick pattern above support in the 10656-61 area, marked by the bottom of a rising channel set from November and the 23.6% Fibonacci retracement. A break above initial resistance at 10718 – a horizontal pivot – targets the January high at 10756 and the channel top at 10779. Alternatively, reversing below support exposes the 38.2% Fib at 10602.

Forex_US_Dollar_Rebound_Hinted_SPX_500_at_Pivotal_Chart_Support_body_Picture_5.png, US Dollar Rebound Hinted, SPX 500 at Pivotal Chart 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 ANALYSISPrices are testing support at 1773.30, marked by the 38.2% Fibonacci retracement and a pair of rising trend lines set from November 2012 and October 2013. A break below that initially exposes the 50% Fib at 1749.20. Near-term resistance lines up tin eh 1809.60-20.60 area.

Forex_US_Dollar_Rebound_Hinted_SPX_500_at_Pivotal_Chart_Support_body_Picture_6.png, US Dollar Rebound Hinted, SPX 500 at Pivotal Chart Support

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS – Prices put in a Bearish Engulfing candlestick pattern at 1267.71, a support-turned-resistance level set from early October, hinting a move lower is ahead. Initial support is at 1235.57, the 23.6% Fibonacci expansion, with a break below that targeting the 38.2% level at 1208.88. A turn above 1267.71 eyes the January 27 high at 1278.72.

Forex_US_Dollar_Rebound_Hinted_SPX_500_at_Pivotal_Chart_Support_body_Picture_7.png, US Dollar Rebound Hinted, SPX 500 at Pivotal Chart Support

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSISPrices declined as expected after putting in a bearish Dark Cloud Cover candlestick pattern. The WTI contract is now testing support at 95.56, the 23.6% Fibonacci expansion, with a break below that eyeing the 38.2% level at 94.17. Near-term resistance is at 97.81, the January 23 high.

Forex_US_Dollar_Rebound_Hinted_SPX_500_at_Pivotal_Chart_Support_body_Picture_8.png, US Dollar Rebound Hinted, SPX 500 at Pivotal Chart Support

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