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
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
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.67% 🇨🇦CAD: 0.47% 🇬🇧GBP: 0.38% 🇪🇺EUR: 0.28% 🇨🇭CHF: 0.18% 🇯🇵JPY: 0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/bdhmxpyRrk
  • Heads Up:🇪🇸 Business Confidence (JUL) due at 10:30 GMT (15min) Previous: -1.1 https://www.dailyfx.com/economic-calendar#2021-07-29
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.81% France 40: 0.72% Wall Street: 0.43% Germany 30: 0.33% US 500: 0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/udphpYMn5y
  • 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/SkopOpNy3P
  • US Dollar Trend Still Points Higher After FOMC, Q2 GDP Eyed - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2021/07/29/US-Dollar-Trend-Still-Points-Higher-After-FOMC-Q2-GDP-Eyed.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #USD #dollarindex #Fed #FOMC #GDP https://t.co/9ppEljRFq6
  • 💶 Industrial Sentiment (JUL) Actual: 14.6 Expected: 13 Previous: 12.8 https://www.dailyfx.com/economic-calendar#2021-07-29
  • 💶 Economic Sentiment (JUL) Actual: 119 Expected: 118.5 Previous: 117.9 https://www.dailyfx.com/economic-calendar#2021-07-29
  • 💶 Consumer Confidence Final (JUL) Actual: -4.4 Expected: -4.4 Previous: -3.3 https://www.dailyfx.com/economic-calendar#2021-07-29
  • Heads Up:💶 Industrial Sentiment (JUL) due at 09:00 GMT (15min) Expected: 13 Previous: 12.7 https://www.dailyfx.com/economic-calendar#2021-07-29
  • Heads Up:💶 Economic Sentiment (JUL) due at 09:00 GMT (15min) Expected: 118.5 Previous: 117.9 https://www.dailyfx.com/economic-calendar#2021-07-29
Dollar Hits Three-Month Low, SPX 500 Nearing 2013 Top

Dollar Hits Three-Month Low, SPX 500 Nearing 2013 Top

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • US Dollar Selloff Continues as Prices Set 3-Month Low
  • S&P 500 on Pace to Most Consistent Rally in 7 Months
  • Crude Oil Double Top Setup Still in Play Below 101.00

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

US DOLLAR TECHNICAL ANALYSISPrices are testing through support at 10581, the 38.2% Fibonacci expansion. A break below this barrier on a daily closing basis exposes the 50% level at 10527. Alternatively, a reversal back above 10581 sees the first layer of significant resistance at 10648, the 23.6% Fib.

Forex_Dollar_Hits_Three-Month_Low_SPX_500_Nearing_2013_Top_body_Picture_5.png, Dollar Hits Three-Month Low, SPX 500 Nearing 2013 Top

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 on pace to produce the longest string of consecutive daily gains in seven months. A break above rising trend line support-turned resistance at 1831.20 exposes 1847.90, the index’s 2013 closing high. Alternatively, a reversal below support in the 1805.70-20.60 area aims for a horizontal pivot level at 1773.40.

Forex_Dollar_Hits_Three-Month_Low_SPX_500_Nearing_2013_Top_body_Picture_6.png, Dollar Hits Three-Month Low, SPX 500 Nearing 2013 Top

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS – Prices are testing above resistance at 1314.51, the 76.4% Fibonacci expansion, with a break above that on a daily closing basis exposing the 100% level at 1338.17. A reversal back below 1314.51 sees the first layer of support at the $1300/oz figure, a level bolstered by the 61.8% Fib.

Forex_Dollar_Hits_Three-Month_Low_SPX_500_Nearing_2013_Top_body_Picture_7.png, Dollar Hits Three-Month Low, SPX 500 Nearing 2013 Top

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS – Prices put in a Shooting Star candlestick below resistance at 100.73, the December 27 high, hinting a reversal lower may be in the works. Breaking below 23.6% Fibonacci retracement support at 98.96 initially exposes the 38.2% level at 97.48.

Forex_Dollar_Hits_Three-Month_Low_SPX_500_Nearing_2013_Top_body_Picture_8.png, Dollar Hits Three-Month Low, SPX 500 Nearing 2013 Top

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