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
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
More View more
Real Time News
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/otJwnuR7qe
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/s4lZWdJoXV
  • The US Dollar Index traded higher last week, sustaining its broader uptrend. Conflicting technical signals urge caution, but the directional bias remains skewed to the upside. Get your weekly USD technical forecast from @FxWestwater here: https://t.co/jcwhcsUBEN https://t.co/tKrlrRZlZn
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/MGy9OTXpUI
  • The Australian Dollar still remains vulnerable as it extends losses against its major counterparts. What is the road ahead for AUD/USD, AUD/JPY, AUD/NZD and AUD/CAD? Get your AUD technical forecast from @ddubrovskyFX here: https://t.co/ph20zFv4qS https://t.co/v4g9ATf4rr
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/De69mTseZN
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/D7AeTM5OpH
  • EUR/USD tumbled last week on the day of the ECB’s latest policy announcement, and that weakness is set to continue this week as a flood of major Eurozone economic statistics is released. Get your weekly Euro forecast from @MartinSEssex here: https://t.co/9B4rJnzWuz https://t.co/ENF3xlkuyP
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqi8ZEe https://t.co/Gps2Xp32h9
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/hftCEho1lM
Dollar Stalling, SPX 500 Threatening One-Year Uptrend Floor

Dollar Stalling, SPX 500 Threatening One-Year Uptrend Floor

Ilya Spivak, Head Strategist, APAC

Talking Points:

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

US DOLLAR TECHNICAL ANALYSISPrices started to edge higher as expected after forming a bullish Piercing Line candlestick pattern. The bulls failed to push through horizontal pivot resistance at 10718 however, recoiling to retest support in the 10661-71 area (marked by the bottom of a rising channel set from November and the 23.6% Fibonacci retracement). A break lower initially exposes the 38.2% Fib at 10602. Alternatively, a reversal above 10718 aims for the January high at 10756.

Forex_Dollar_Stalling_SPX_500_Threatening_One-Year_Uptrend_Floor_body_Picture_5.png, Dollar Stalling, SPX 500 Threatening One-Year Uptrend Floor

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 continue to test support at a rising trend line set from February 2013 (now at 1741.70). This barrier is reinforced by the 76.4% Fibonacci expansion at 1744.60. A break downward initially targets the 100% level at 1725.40. Alternatively, a reversal back above the 61.8% level at 1756.50 on a daily closing basis sees the next upside barrier at 1766.20, the 50% Fib.

Forex_Dollar_Stalling_SPX_500_Threatening_One-Year_Uptrend_Floor_body_Picture_6.png, Dollar Stalling, SPX 500 Threatening One-Year Uptrend Floor

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS – Prices turned lower as expected after putting in a Bearish Engulfing candlestick pattern at 1267.71, a support-turned-resistance level set from early October. Breaking below support in the 1235.57-43.35 area, marked by the 23.6% Fibonacci expansion and a rising trend line, exposes the 38.2% level at 1208.88. Alternatively, a reversal above 1267.71 targets the January 27 high at 1278.72.

Forex_Dollar_Stalling_SPX_500_Threatening_One-Year_Uptrend_Floor_body_Picture_7.png, Dollar Stalling, SPX 500 Threatening One-Year Uptrend Floor

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSISPrices edged lower as expected after putting in a bearish Dark Cloud Cover candlestick pattern. Breaking below the 23.6% Fibonacci expansion at 96.31 exposes the 38.2% level at 94.92. Alternatively, a move back above trend line support-turned-resistance at 98.18 eyes the January 30 high at 98.56.

Forex_Dollar_Stalling_SPX_500_Threatening_One-Year_Uptrend_Floor_body_Picture_8.png, Dollar Stalling, SPX 500 Threatening One-Year Uptrend Floor

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