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.

Free Trading Guides
EUR/USD
Bearish
GBP/USD
Bearish
USD/JPY
Bearish
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
Gold
Mixed
Oil - US Crude
Bearish
Bitcoin
Bearish
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
  • #Palladium prices may keep falling after the largest two-day drop in three months pierced chart support. Soft autos turnover in China and rising US rates may be to blame. Get your market update from @IlyaSpivak here:https://t.co/ieiENjbGRo https://t.co/Ygl1l7AuEB
  • Heads Up:🇦🇺 AUD Wage Price Index (YoY) (3Q) due at 00:30 GMT (15min), Actual: N/A Expected: 2.2% Previous: 2.3% https://www.dailyfx.com/economic-calendar#2019-11-13
  • LIVE IN 30 MIN: Will the RBNZ rate decision stoke New Zealand Dollar volatility? Join Analyst @ddubrovskyFX LIVE to find out! https://t.co/DN3QW48T1b
  • Huh, I wonder where we've seen this before. Also seeing something kind of similar in the CLO market where the proliferation of covenant lite loans allows borrowers to magnify their earnings, thereby in part distorting their actual level of risk - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/03/22/Currencies-May-See-Wild-Swings-if-Slow-Growth-Breaks-CLO-Market.html https://t.co/zO1fR6yV6y
  • Join @ddubrovskyFX 's #webinar at 8:00 PM ET/1:00 AM GMT to find out what information you can gain from knowing what other traders are buying or selling. Register here: https://t.co/Bb3CTCTm44 https://t.co/Uz8Rh15shU
  • Declines in the MSCI #EmergingMarkets Index have led prices to close under what appears to be a near-term rising support line from early October after a Shooting Star candle. Further weakness may place 42.35 in focus before testing rising support from the August low https://t.co/1ms8cHXLMo
  • 🇯🇵 JPY Loans & Discounts Corp (YoY) (SEP), Actual: 1.90% Expected: N/A Previous: 2.44% https://www.dailyfx.com/economic-calendar#2019-11-12
  • Heads Up:🇯🇵 JPY Loans & Discounts Corp (YoY) (SEP) due at 23:50 GMT (15min), Actual: N/A Expected: N/A Previous: 2.44% https://www.dailyfx.com/economic-calendar#2019-11-12
  • 🇦🇺 AUD Westpac Consumer Confidence (NOV), Actual: 4.5% Expected: N/A Previous: -5.5% https://www.dailyfx.com/economic-calendar#2019-11-12
  • RT @politico: Congress has pegged Dec. 20 as the next deadline for government funding after the current stopgap expires next week https://…
Dollar Pauses to Digest Breakout, SPX 500 Trying to Expose 1900 Anew

Dollar Pauses to Digest Breakout, SPX 500 Trying to Expose 1900 Anew

2014-05-22 05:16:00
Ilya Spivak, Sr. Currency Strategist
Share:

Talking Points:

  • US Dollar Pauses to Digest After Key Technical Break
  • S&P 500 Attempting to Expose 1900.00 Figure Anew
  • Crude Oil Within Striking Distance of April Swing Top

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

US DOLLAR TECHNICAL ANALYSIS – Positioning hints a double bottom is in place at 10375, the October 2013 floor, after prices secured a break above falling channel resistance set from January. Initial resistance is in the 10474-95 area, with a daily close above that clearing the way for a move to challenge the 10589-619 region. The channel top, now at 10448, has been recast as near-term support.

Dollar Pauses to Digest Breakout, SPX 500 Trying to Expose 1900 Anew

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 are testing above resistance in the in the 1883.80-88.60 region, bracketed by the March 7 high and the 23.6% Fibonacci expansion. A break above that on a daily closing basis clears the way for a challenge of the 1897.40-1899.10 zone, the site of the 38.2% level and the April 4 peak. Support is marked by a rising trend line set from late April, now at 1869.20. A reversal beneath that aims for the 1850.10-61.90 area, marked by recent swing lows. Resistance is

Dollar Pauses to Digest Breakout, SPX 500 Trying to Expose 1900 Anew

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS – Prices are consolidating below resistance in the 1304.57-15.60 area, marked by the top of a descending Triangle chart formation and the 38.2% Fibonacci retracement. A break above that on daily closing basis targets the 50% level at 1330.18. The descending Triangle argues in favor of bearish continuation however (though confirmation is absent for now). Near-term support is at 1277.00, the Triangle bottom.

Dollar Pauses to Digest Breakout, SPX 500 Trying to Expose 1900 Anew

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS – Prices are pushing higher to test resistance at 104.24, the 76.4% Fibonacci expansion. A break above this barrier initially exposes the 100% level at 105.16. Near-term support is at 103.67, the 61.8% Fib, with a move back below that eyeing the 50% expansion at 103.20.

Dollar Pauses to Digest Breakout, SPX 500 Trying to Expose 1900 Anew

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

News & Analysis at your fingertips.