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. See our updated Privacy Policy here.

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
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
Bearish
Gold
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
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 84.57%, while traders in France 40 are at opposite extremes with 70.12%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Gb5NeVBsGS
  • US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, AUD/USD https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/06/18/US-Dollar-Price-Action-Setups-EURUSD-GBPUSD-AUDUSD-USDCAD.html https://t.co/EyDRu1uB8q
  • Bitcoin continues to trade within a defined support and resistance band. Rates markets awash with speculation as yield curve flattens. Get your market update from @WVenketas here:https://t.co/y10uIN6Zqg https://t.co/uf2oerbfUW
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.64% Silver: 0.23% Gold: 0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/L3CRiaZdZU
  • Wall Street IG Client Sentiment: Our data shows traders are now at their most net-long Wall Street since Oct 30 when Wall Street traded near 26,509.50. A contrarian view of crowd sentiment points to Wall Street weakness. https://www.dailyfx.com/sentiment https://t.co/6LuUxLna1F
  • US want nuclear deal before Iran President Inauguration - Axios
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.05% 🇪🇺EUR: -0.23% 🇨🇭CHF: -0.39% 🇦🇺AUD: -0.64% 🇬🇧GBP: -0.75% 🇳🇿NZD: -0.90% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/QI8xBqL3dD
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.27% Germany 30: 0.23% France 40: 0.22% US 500: -0.94% Wall Street: -1.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/7YzCbxMQrC
  • EUR/USD trades to a fresh monthly low (1.1867) as it extends the series of lower highs and lows following the Federal Open Market Committee (FOMC) interest rate decision. Get your $EURUSD market update from @DavidJSong here:https://t.co/W5jI90HdNG https://t.co/z9deQyFfwI
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.03% 🇪🇺EUR: -0.34% 🇨🇭CHF: -0.47% 🇬🇧GBP: -0.76% 🇦🇺AUD: -0.84% 🇳🇿NZD: -1.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ZOHT2Okoq1
Crude Oil Drop Stalls Ahead of $60 Mark, SPX 500 Hits 7-Week Low

Crude Oil Drop Stalls Ahead of $60 Mark, SPX 500 Hits 7-Week Low

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • US Dollar Downswing May Resume After Consolidation
  • S&P 500 Punctures 2000 as Prices Hit Seven-Week Low
  • Crude Oil Selloff Pauses to Digest Ahead of $60/Barrel

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

US DOLLAR TECHNICAL ANALYSIS – Prices turned lower from a five-year high as expected after completing a bearish Evening Star candlestick pattern. Near-term support is at 11379, the 23.6% Fibonacci retracement, with a break below that on a daily closing basis exposing the 38.2% level at 11291. Alternatively, a reversal above the 14.6% Fib at 11434 clears the way for a test December 8 high at 11522.

Crude Oil Drop Stalls Ahead of $60 Mark, SPX 500 Hits 7-Week Low

Daily Chart - Created Using FXCM Marketscope

** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.

S&P 500 TECHNICAL ANALYSIS – Prices turned lower as expected, plunging to the lowest level in seven weeks. Sellers now aim to challenge the 38.2% Fibonacci retracement at 1980.00, with a break below that exposing the 50% level at 1949.30. Alternatively, a reversal above the 2018.10-22.10areamarked by the 23.6%Fib and theSeptember 19 hightargets the 2041.50-49.10 zone (14.6% Fib, December 1 low).

Crude Oil Drop Stalls Ahead of $60 Mark, SPX 500 Hits 7-Week Low

Daily Chart - Created Using FXCM Marketscope

GOLD TECHNICAL ANALYSIS – Prices paused to consolidate after clearing resistance at a falling trend line set from early July. A break above the 50% Fibonacci retracement at 1237.59 on a daily closing basis exposes the 61.8% level at 1262.96. Alternatively, a turn back below the intersection of the trend line and the 38.2% Fib at 1212.23 targets the 23.6% retracement at 1180.84.

Crude Oil Drop Stalls Ahead of $60 Mark, SPX 500 Hits 7-Week Low

Daily Chart - Created Using FXCM Marketscope

CRUDE OIL TECHNICAL ANALYSIS – Prices have paused to digest losses after breaking below the 76.4% Fibonacci expansion at 62.25. A reversal back above this barrier exposes the 61.8% level at 64.30. Alternatively, a renewed push downward sees support at 58.93 – the 100% Fib – with a daily close below that targeting the 123.6% expansion at 55.61.

Crude Oil Drop Stalls Ahead of $60 Mark, SPX 500 Hits 7-Week Low

Daily Chart - Created Using FXCM Marketscope

--- 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