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
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
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
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
Gold
Bearish
Oil - US Crude
Bearish
Bitcoin
Mixed
More View more
Real Time News
  • Indeed, you could see rising doubts of a US-China #tradedeal reflected at today's US T-Bill auction for the 4-week security ahead of the December 15 tariff deadline - https://t.co/L6YEhauvzw https://t.co/hTykbYCuVB
  • Is that Hong Kong? Iran? Chile, perhaps? Nope, that'd be Paris, France... https://t.co/JTD0TL5RFI
  • #Euro area stocks may be preparing to break the four-month uptrend built around hopes for a US-China trade deal and an orderly #Brexit outcome. Get your market update from @IlyaSpivak here: https://t.co/ujlCJiXLvh https://t.co/tgq1jyblnN
  • 💵 US Dollar Set for Volatility with NFP Data & Fed Meeting on Deck (via @DailyFX) ➡️ Full Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2019/12/05/us-dollar-volatility-due-to-rise-with-jobs-data-fed-on-deck.html $USD $DXY #Forex #Trading #FOMC #Jobs https://t.co/cdeBn1fvvt
  • The US Dollar eyes its worst week since October as the Euro and British Pound rose. Treasury bills saw their lowest yield since 2018, likely reflecting US-China trade deal skepticism - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2019/12/06/US-Dollar-Drop-Eyes-Support-as-the-Euro-and-British-Pound-Rise.html?CHID=9&QPID=917702 https://t.co/Glqk2x99ml
  • Japanese Yen edging higher early into Asia's Friday trading session #USDJpy #AUDJPy #NZDJPY #EURJPY https://t.co/kiQa2fji2X
  • Ahead of the #UKelection next week, take the time to read up on how politics impacts markets - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/07/04/How-to-Trade-the-Impact-of-Politics-on-Global-Financial-Markets.html
  • Most major central banks won’t meet again until mid-January or early-February. For those with meetings remaining in 2020, no rate moves are expected. Get your market update from @CVecchioFX here:https://t.co/5cVZK98H7H https://t.co/femYKxszVV
  • $USD $CAD $MXN https://t.co/p3bP1d58In
  • #USDCHF pivot points (daily) – S3: 0.9823, S2: 0.9851, S1: 0.9862, R1: 0.9889, R2: 0.9906, R3: 0.9934 - https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
Gold Drops to Three-Month Low, US Dollar Sets New 2014 High

Gold Drops to Three-Month Low, US Dollar Sets New 2014 High

2014-09-09 02:22:00
Ilya Spivak, Sr. Currency Strategist
Share:

Talking Points:

  • US Dollar Rallies Most in 15 Months, Sets a New 2014 High
  • S&P 500 Continues to Oscillate in a Narrow Trading Range
  • Crude Oil May Rebound, Gold Down to a Three-Month Low

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

US DOLLAR TECHNICAL ANALYSIS – Prices scored their largest one-day rally in 15 months and rose to set a new 2014 high.A daily close above the 76.4% Fibonacci expansion at 10844 exposes the 100% level at 10914. Alternatively, a turn below the 61.8% Fib at 10800 clears the way for a test of the 10756-65 area, marked by the January 2014 high and the 50% expansion.

Gold Drops to Three-Month Low, US Dollar Sets New 2014 High

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 testing the 61.8% Fibonacci expansionat 2006.80. A turn lower from here sees near-term support in the 1985.30-91.40 area, marked by the July 24 high and the 50% level, with a break below that on a daily closing basis exposing the 38.2% Fib at 1963.70. Alternatively, a turn above 2006.80 targets the top of the index’s long-term uptrend and the 76.4% expansion at 2033.40.

Gold Drops to Three-Month Low, US Dollar Sets New 2014 High

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS – Prices are testing support at 1252.82, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing 38.2% level at 1239.98. Alternatively, a turn back above 1260.73, the intersection of falling channel floor support-turned-resistance and the 14.6% Fib, aims for a horizontal pivot at 1276.48.

Gold Drops to Three-Month Low, US Dollar Sets New 2014 High

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS – Prices appear to be carving out a falling wedge chart formation, pointing to ebbing downward momentum and hinting a reversal may be ahead. Positive RSI divergence bolsters the case for an upside scenario. A break above wedge top resistance at 102.10 exposes the August 26 high at 103.36. Alternatively, a turn below the 99.61-91 area marked by the 23.6% Fibonacci expansion and the wedge floor aims for the 38.2% level at 97.77.

Gold Drops to Three-Month Low, US Dollar Sets New 2014 High

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.