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
More View more
Real Time News
  • Bank of Japan: - Outlook highly uncertain amid Covid - Asset purchase outline unchanged - Cuts assessment of production - exports, production impacted by supply side constraints - BBG
  • Heads Up:🇯🇵 BoJ Interest Rate Decision due at 03:00 GMT (15min) Previous: -0.1% https://www.dailyfx.com/economic-calendar#2021-09-22
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePT7Yu8 https://t.co/Gl4naStqw1
  • Hello there traders! @FxWestwater and I collaborated to bring you a breaking news story on China's #Evergrande coupon payment $AUDUSD $NZDUSD #AUD #NZD Check out the full story here - https://www.dailyfx.com/forex/market_alert/2021/09/22/AUDUSD-NZDUSD-Soar-on-Evergrande-Debt-Deal-PBOC-Liquidity-Injections.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/nZeZUyctsX
  • Commodities Update Post #Evergrande Payment News: #Gold trading cautiously higher as #USD falls (Treasury yields rising offsetting price action slightly) Growth-linked #CrudeOil prices pushing higher as Chinese slowdown woes slightly cool https://t.co/kq1l3v5O4I https://t.co/tIuUcE0b4N
  • The Spinning Top candlestick pattern forms part of the vast Japanese candlestick repertoire with its own distinct features. Gain a better understanding of the spinning top candlestick here: https://t.co/DWm7cC4v7H https://t.co/hJOIE51SQ8
  • Evergrande Sept 23 Yuan coupon payment negotiated with holders - BBG
  • PBOC increases daily liquidity injection to 120 billion Yuan - BBG
  • Reports citing Reuters crossing the wires that China's #Evergrande main unit Hengda Real Estate will make coupon payments on onshore bonds due SEP 23 Risk-on #AUD and #NZD gaining Anti-risk #USD and #JPY weakening #SP500 futures rising ahead of the #Fed $AUDUSD $NZDUSD #Yen https://t.co/2oQgLIEtt3
  • 🇦🇺 Westpac Leading Index MoM (AUG) Actual: -0.3% Previous: -0.12% https://www.dailyfx.com/economic-calendar#2021-09-22
US Dollar Approaching Key Chart Barrier, Crude Oil Aims Above 105.00

US Dollar Approaching Key Chart Barrier, Crude Oil Aims Above 105.00

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • US Dollar Recovery Approaching Pivotal Chart Threshold
  • S&P 500 Bounce Extends for a Fourth Consecutive Session
  • Crude Oil Aiming Above $105.00 After Breaking Resistance

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

US DOLLAR TECHNICAL ANALYSISPrices began to recover as expected afterputting in a bullish Piercing Line candlestick pattern. Initial resistance lines up in the 10471-84 area, marked by the underside of a previously broken falling channel and the 23.6% Fib retracement. A break above the latter barrier targets the 38.2% Fib at 10536. Near-term support is at 10400, the April 10 low.

US-Dollar-Approaching-Key-Chart-Barrier-Crude-Oil-Aims-Above-105.00_body_Picture_5.png, US Dollar Approaching Key Chart Barrier, Crude Oil Aims Above 105.00

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 ANALYSIS – Prices rebounded as expected after putting in a Piercing Line candlestick pattern. Buyers are now poised to challenge the 38.2% Fibonacci expansion at 1870.70, with a break above that exposing the 50% level at 1889.70.Near-term support is at 1847.10, the 23.6% Fib, followed by the previously broken top of a rising channel at 1834.30.

US-Dollar-Approaching-Key-Chart-Barrier-Crude-Oil-Aims-Above-105.00_body_Picture_6.png, US Dollar Approaching Key Chart Barrier, Crude Oil Aims Above 105.00

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS – Prices reversed sharply downward, edging past support at 1303.93 marked by the 23.6% Fibonacci expansion and exposing the 38.2% level at 1287.14. A further push beneath that aims for the 50% Fib at 1273.57. Alternatively, a reversal back above 1303.93 sees the first layer of resistance at 1331.06, the April 15 high.

US-Dollar-Approaching-Key-Chart-Barrier-Crude-Oil-Aims-Above-105.00_body_Picture_7.png, US Dollar Approaching Key Chart Barrier, Crude Oil Aims Above 105.00

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS – Prices broke higher as expected out of a Triangle chart formation. A break above the 50% Fibonacci expansionat 104.33 has now exposed the March 3 high at 10519, followed by the 61.8% level at 105.98. Alternatively, a reversal back below 104.33 eyes the 38.2% Fib at 102.68.

US-Dollar-Approaching-Key-Chart-Barrier-Crude-Oil-Aims-Above-105.00_body_Picture_8.png, US Dollar Approaching Key Chart Barrier, Crude Oil Aims Above 105.00

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