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
Bullish
Wall Street
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
Gold
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
GBP/USD
Bullish
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
More View more
Real Time News
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.35% Germany 30: -0.38% France 40: -0.39% Wall Street: -1.09% US 500: -1.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/ee1csUe04G
  • NASDAQ EXTENDS FALL, LAST DOWN ABOUT 2.1% Damn this Apple Watch is good... where Jay Powell at? https://t.co/8yXsJKehxy
  • France daily Covid cases rises above 13,000, highest since lockdown - BBG
  • GBP falling to fresh sessions lows following UK PM Johnson's warning that the UK is on the verge of having a second wave of Covid-19
  • Dow Jones pivots higher with the S&P 500 and Nasdaq owing to consumer sentiment data. Get your #indices market update from @RichDvorakFX here: https://t.co/MN3YH5WNMV https://t.co/ELJkNhn6LK
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.14%, while traders in NZD/USD are at opposite extremes with 70.68%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/wQSpYPp9wY
  • US equities drop to session lows as Speaker Pelosi states that she is sticking with demands for a $2.2 trillion stimulus bill
  • US #Dollar Outlook: $USD Grinds into Weekly Support – $DXY Levels - https://t.co/Teg9aN8GHQ https://t.co/bdifryFcSD
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Gold: 0.77% Silver: 0.39% Oil - US Crude: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/4rXyUYBYzw
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.36% 🇯🇵JPY: 0.31% 🇪🇺EUR: 0.05% 🇨🇦CAD: -0.11% 🇨🇭CHF: -0.14% 🇬🇧GBP: -0.17% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/LZ5R3mMJhS
Crude Oil Struggling to Recover, SPX 500 Bounce Runs Into Resistance

Crude Oil Struggling to Recover, SPX 500 Bounce Runs Into Resistance

2014-10-28 02:28:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • US Dollar Pulls Back But Last Week’s Breakout Remains Intact
  • S&P 500 Capped at Resistance After Hitting Three-Week High
  • Crude Oil Still Unable to Build on Bullish Reversal Chart Setup

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

US DOLLAR TECHNICAL ANALYSIS – Prices corrected lower after last week’s breakout seemingly marking the resumption of the longer-term uptrend. Near-term resistance is in the 11102-43 area marked by the 23.6% Fibonacci expansion and the October 3 high, with a break above that on a daily closing basis exposing the 38.2% level at 11216. Alternatively, a reversal back below channel top channel top resistance-turned-support at 10996 opens the door for a challenge of the 10918-59 area (23.6% Fib retracement, October 15 low).

Crude Oil Struggling to Recover, SPX 500 Bounce Runs Into Resistance

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 paused to consolidate after hitting a three-week high as buyers eye resistance at 1974.10 marked by the 76.4% Fibonacci retracement. A break above that on a daily closing basis exposes the September 19 high at 2022.10. Alternatively, a turn back below the 61.8% level at 1944.50 initially targets trend line resistance-turned-support at 1933.10, followed by the 50% Fib at 1920.50.

Crude Oil Struggling to Recover, SPX 500 Bounce Runs Into Resistance

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS – Prices turned lower as expected after putting in a bearish Evening Star candlestick pattern. Sellers now aim to challenge the 23.6% Fibonacci expansion at 1216.87, with a break below that on a daily closing basis exposing the 38.2% level at 1193.16. Alternatively, a reversal back above the 14.6% Fib at 1231.49 aims for the 1249.96-55.20 area marked by a falling trend line set from mid-July and the October 21 high.

Crude Oil Struggling to Recover, SPX 500 Bounce Runs Into Resistance

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS – Prices put in a Bullish Engulfing candlestick pattern, hinting a bounce may be ahead. A break above 87.67, the intersection of the 14.6% Fibonacci retracement and channel floor support-turned-resistance, exposes the 23.6% level at 90.62. Near-term support is at 82.88, the October 15 low.

Crude Oil Struggling to Recover, SPX 500 Bounce Runs Into Resistance

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