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.

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
EUR/USD
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
Oil - US Crude
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
Wall Street
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
Bullish
GBP/USD
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
USD/JPY
Mixed
More View more
Real Time News
  • Secretary Mnuchin says he would support additional fiscal measures $SPX
  • Hey traders! Get your Thursday market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/iRF2tSbRuh
  • Fed Chair Powell says the municipal finance market is working pretty well
  • GBP/USD will likely extend its recent slide caused principally by a stronger US Dollar. Get your $GBPUSD market update from @MartinSEssex here:https://t.co/izio6AVcFX https://t.co/HCGK3NEW8N
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.02% 🇯🇵JPY: -0.07% 🇨🇦CAD: -0.07% 🇨🇭CHF: -0.32% 🇳🇿NZD: -0.38% 🇦🇺AUD: -0.67% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/pv6tWdcxqU
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: -0.34% Wall Street: -0.40% Germany 30: -0.85% France 40: -1.31% FTSE 100: -1.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/m31LiWOqsh
  • Heads Up:🇩🇪 Bundesbank Wuermeling Speech due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-24
  • what a move in $AUDUSD this week Rising wedge reversal filled in, price action driving towards .7000. So much selling so fast, may need a break before it can take out the big fig https://t.co/RSLLc97o7G https://t.co/XGAkj157hh
  • BoE Governor Bailey says the BoE should have negative rates in toolbox because other countries have demonstrated they can do it
  • BOE Governor Bailey says we have to look at how negative rates will affect the financial system - BBG
US Dollar Rally Seen Resuming, SPX 500 Building Foothold Above 1900

US Dollar Rally Seen Resuming, SPX 500 Building Foothold Above 1900

2014-05-27 05:02:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • US Dollar Expected to Renew Advance After Correction
  • S&P 500 Eyeing Upside Chart Barriers Above 1900.00
  • Crude Oil Rally Held up at Resistance, Gold Flat-Lining

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

US DOLLAR TECHNICAL ANALYSIS – Prices are aiming upward after setting a double bottom at 10375 and breaking through the top of a falling channel guiding the down trend since January. Buyers have overcome resistance in the 10474-95 area, opening the door for a challenge of the next key threshold in the 10589-619 region. A further break beyond that exposes year-to-date highs above 10700. Alternatively, a reversal back below 10474 targets channel top support-turned-resistance at 10439.

US Dollar Rally Seen Resuming, SPX 500 Building Foothold Above 1900

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 broke resistance in the 1897.40-1899.10 area, marked by the 38.2% Fibonacci expansion and the April 4 high, exposing the 50% level at 1908.40. A further push beyond that targets the 61.8% Fib at 1919.40. Alternatively, a reversal back below 1897.40 clears the way for a move back to the 1883.80-88.60 region, bracketed by the March 7 high and the 23.6% expansion.

US Dollar Rally Seen Resuming, SPX 500 Building Foothold Above 1900

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS – Prices are consolidating below resistance in the 1302.18-15.60 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.

US Dollar Rally Seen Resuming, SPX 500 Building Foothold Above 1900

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS – Prices are testing resistance in the 104.24-38 area, marked by a falling trend line set from early March and 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.

US Dollar Rally Seen Resuming, SPX 500 Building Foothold Above 1900

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