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
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
Bullish
Gold
Bullish
GBP/USD
Bullish
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
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.28%, while traders in France 40 are at opposite extremes with 78.36%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/37chG31FJd
  • Heads Up:🇳🇴 Norges Bank Interest Rate Decision due at 08:00 GMT (15min) Expected: 0% Previous: 0% https://www.dailyfx.com/economic-calendar#2021-05-06
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/lVIgesi1on
  • Some decent gains in the alt-coin space over the last 24 hours...#tel #btg #xem #eos #cryptocurrencies @DailyFX Prices via @CoinMarketCap https://t.co/xB5nlNGiyG
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 1.04% Gold: 0.40% Oil - US Crude: 0.31% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/9ZnO125a1I
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.16% 🇨🇭CHF: 0.11% 🇨🇦CAD: 0.10% 🇳🇿NZD: 0.07% 🇬🇧GBP: -0.01% 🇯🇵JPY: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/9jy6zaHhWN
  • Heads Up:🇸🇪 Monetary Policy Meeting Minutes due at 07:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-06
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: France 40: 0.21% FTSE 100: 0.16% Wall Street: 0.13% US 500: 0.10% Germany 30: 0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/gL7lPYlCFa
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9Flsqcxo9 https://t.co/Fxy8ulPTvD
  • (ASEAN Tech) US Dollar Analysis, Downside Bias May Hold: USD/SGD, USD/THB, USD/IDR, USD/PHP #USD $USDSGD $USDTHB $USDIDR $USDPHP #ASEAN https://www.dailyfx.com/forex/technical/article/special_report/2021/04/30/US-Dollar-Analysis-Road-Ahead-Bumpy-USDSGD-USDTHB-USDIDR-USDPHP.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/aWlBsjC5sR
Gold May Be Readying to Turn Lower Anew, SPX 500 Stalling at Support

Gold May Be Readying to Turn Lower Anew, SPX 500 Stalling at Support

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • US Dollar Continues to Tread Water at February Low
  • S&P 500 Stalls After Sliding to Two-Month Support
  • Gold Prices May Be Readying to Decline Once Again

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

US DOLLAR TECHNICAL ANALYSIS – Prices turned lower as expected, with prices digesting losses near monthly lows. A daily close below the 11858-86 area (23.6% Fibonacci retracement, March 18 low) exposes the 38.2% level at 11679. Alternatively, a reversal back above the 14.6% Fib expansion at 12066 clears the way for a test of the 12149-77 zone (23.6% threshold, March 13 high).

Gold May Be Readying to Turn Lower Anew, SPX 500 Stalling at Support

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 declined as expected after putting in a bearish Evening Star candlestick pattern below February’s swing high. A daily close belowchannel floor support at 2060.50 exposes the March 12 low at 2040.10. Alternatively, a reversal above the 14.6% Fibonacci expansion at 2084.00 targets the 2111.00-19.40 area (23.6% level, February 25 high).

Gold May Be Readying to Turn Lower Anew, SPX 500 Stalling at Support

Daily Chart - Created Using FXCM Marketscope

GOLD TECHNICAL ANALYSIS – Prices may be preparing to turn lower after putting in a bearish Dark Cloud Cover candlestick pattern. A daily close below the 23.6% Fibonacci retracement at 1181.51 exposes the 14.6% level at 1166.67. Alternatively, a reversal above the 38.2% Fib at 1205.58 targets the 50% retracement at 1225.04.

Gold May Be Readying to Turn Lower Anew, SPX 500 Stalling at Support

Daily Chart - Created Using FXCM Marketscope

CRUDE OIL TECHNICAL ANALYSIS – Prices reversed sharply lower after finding resistance below the $60/barrel figure. A break below the 38.2% Fibonacci expansion at 55.77 exposes the 50% level at 54.53. Alternatively, a reversal above the March 26 high at 59.75 targets the February 17 high at 62.98.

Gold May Be Readying to Turn Lower Anew, SPX 500 Stalling at Support

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