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
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Mixed
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
Mixed
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
More View more
Real Time News
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/TwrOBFgIwj
  • Gold prices were crushed this week as yields continued to climb. But with a big spot of support coming in, can buyers bring a bounce ahead of NFP? Get your market update from @JStanleyFX here: https://t.co/E1TTXVJGUm https://t.co/pD4TeAY3ZP
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/PiLYJDVvtY
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/453MLny2lu
  • The haven-linked US Dollar may be in a position to benefit in the short-run as economic recovery bets support longer-dated Treasury yields, making them more competitive with stocks. Get your market update from @ddubrovskyFX here: https://t.co/BickxlcuZi https://t.co/OdARp4Z1mh
  • The Dow Jones and Nasdaq 100 look to be on diverging technical paths as volatility spikes. Meanwhile, the S&P 500 teeters on support as it splits the difference between its sister indices. Get your market update from @PeterHanksFX here: https://t.co/0gULgIN2kw https://t.co/dzuxyjkXmx
  • What's the difference between leading and lagging indicators? Find out from here: https://t.co/vGx8HCagF5 https://t.co/yTYG7ote3R
  • The reflation trade is helping to push the oil-linked Canadian Dollar higher as the post-Covid economic outlook clears. The Loonie is reliant on the global economy’s recovery. Get your market update from @FxWestwater here: https://t.co/CYUiH0PCca https://t.co/my6clW7pxY
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here: https://t.co/Ye4m1FMKUW https://t.co/q8Ds7wYrKA
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/qtAmyhFU9A
Gold Chart Setup Warns of Reversal, SPX 500 Snaps 3-Day Win Streak

Gold Chart Setup Warns of Reversal, SPX 500 Snaps 3-Day Win Streak

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • US Dollar Continues to Rise, Establishes New 5-Year High
  • S&P 500 Stalls at Record High, Snaps Three-Day Win Streak
  • Crude Oil Struggling for Follow-Through, Gold Vulnerable

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

US DOLLAR TECHNICAL ANALYSIS – Prices continue to push higher, advancing to set a new five-year high. A daily close above the 38.2% Fibonacci expansion at 11374 exposes the 50% level at 11422. Alternatively, a reversal below the 23.6% Fib at 11315 clears the way for a test of the 14.6% expansion at 11278.

Gold Chart Setup Warns of Reversal, SPX 500 Snaps 3-Day Win Streak

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 stalled after setting yet another record high, snapping a three-day winning streak. A daily close above the 38.2% Fibonacci expansion at 2081.20 exposes the 50% level at 2105.60. Alternatively, a move below the 23.6% Fib at 2051.00 targets the 2022.10-32 areamarked by the 14.6% expansion and the September 19 high.

Gold Chart Setup Warns of Reversal, SPX 500 Snaps 3-Day Win Streak

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS – Prices are carving out a bearish Rising Wedge chart formation, hinting a move lower may be ahead. A daily close below the pattern’s floor at 1196.21 exposes the 1178.86-80.84 area (December 2013 low, 23.6% Fibonacci retracement). Alternatively, a push above the intersection of the wedge top and the 38.2% level at 1212.23 targets a falling trend line set from early June, now at 1224.37.

Gold Chart Setup Warns of Reversal, SPX 500 Snaps 3-Day Win Streak

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS – Prices are struggling with follow-through having attempted a recovery as expected following the appearance of a bullish Piercing Line candlestick pattern. A daily close below rising trend line support at 78.38 exposes the November 14 low at 76.74. Alternatively, a reversal above falling trend line resistance at 80.50 targets the 14.6% Fibonacci retracement at 82.43.

Gold Chart Setup Warns of Reversal, SPX 500 Snaps 3-Day Win Streak

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