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
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here: https://t.co/d8Re5anlG5 https://t.co/danCiP5vqK
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/JhYoQ7I19K
  • The Nasdaq 100 index is aiming to breach a key resistance level at 14,950 for a second time. A successful attempt may open the door to further gains, although the MACD indicator flags signs of weakness. Get your equities forecast from @margaretyjy here: https://t.co/BEYupi32qB https://t.co/PWeXE8tZVY
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/t34kotPE8R
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/lM1OIJdjhr
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here: https://t.co/lZFM8youtX https://t.co/6qGEVjDlN6
  • Although the medium-term outlook remains negative, Bitcoin could make a bullish move in the coming days if prices manage to hold above key support in the $29,150/28,600 region. Get your #Bitcoin forecast from @DColmanFX here: https://t.co/T7iAD0fbbU https://t.co/xVSG7nKIQG
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/HGWZikGQAa
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/bZEFtp8kFe https://t.co/2cQ0JgAfh7
  • Crude oil prices collapsed on Monday despite an OPEC+ breakthrough, driven by Covid-induced demand woes. Meanwhile, Gold is at odds with a stronger US Dollar and falling Treasury yields. Get your #crudeoil market update from @FxWestwater here:https://t.co/H1vmag8d1k https://t.co/1zuPdKUmyE
US Dollar Digesting Gains, SPX 500 Searching for a Catalyst

US Dollar Digesting Gains, SPX 500 Searching for a Catalyst

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • US Dollar Digesting Last Week’s Five-Day Win Streak
  • S&P 500 Still Treading Water Below 2013 Peak Highs
  • Gold, Crude Oil Consolidating at Familiar Chart Levels

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

US DOLLAR TECHNICAL ANALYSISPrices edged higher after showing a Hammer candlestick above support at a rising trend line set from September 2012. Prices are correcting slightly lower after securing finish last week with the best performance since late October. A daily close above the 38.2% Fibonacci retracement at 10610 exposes the 50% level at 10638. Alternatively, a reversal back below the 23.6% Fib at 10576 targets the trend line (now at 10543) anew, followed by the February 17 low at 10520.

Forex_US_Dollar_Digesting_Gains_SPX_500_Searching_for_a_Catalyst_body_Picture_5.png, US Dollar Digesting Gains, SPX 500 Searching for a Catalyst

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 consolidating below resistance at 1847.90, the 2013 closing high. Near-term support is at 1821.30, the 23.6% Fibonacci retracement, with a break below that on a daily closing basis targeting a rising trend line at 1810.60 and the 38.2% level at 1805.40. Alternatively, a push above resistance aims for the 38.2% Fib expansion at 1861.80.

Forex_US_Dollar_Digesting_Gains_SPX_500_Searching_for_a_Catalyst_body_Picture_6.png, US Dollar Digesting Gains, SPX 500 Searching for a Catalyst

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS – Prices began to pull back as expected after putting in a bearish Dark Cloud Cover candlestick pattern below trend line resistance set from April 2013. Breaking below rising trend line support (now at 1319.10) initially exposes the 23.6% Fibonacci retracement at 1295.85. Trend line resistance is now at 1337.40, followed by the February 17 high at 1339.85.

Forex_US_Dollar_Digesting_Gains_SPX_500_Searching_for_a_Catalyst_body_Picture_7.png, US Dollar Digesting Gains, SPX 500 Searching for a Catalyst

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS – Prices are consolidating below resistance at 103.29, the 38.2% Fibonacci expansion. A break higher targets the 50% level at 104.48. Alternatively, a move below the 23.6% Fib at 101.81 exposes 100.73, the December 27 high.

Forex_US_Dollar_Digesting_Gains_SPX_500_Searching_for_a_Catalyst_body_Picture_8.png, US Dollar Digesting Gains, SPX 500 Searching for a Catalyst

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