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
Oil - US Crude
Bullish
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
Bearish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Markets Week Ahead: Gold, Dow, Pound-Dollar, BoE Rate Decision, Fed Risk, PMIs Check out my recap of last week and preview of upcoming event risk, plus all the latest forecasts from the @DailyFX team below. Link to Analysis - https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2021/06/20/Markets-Week-Ahead-Gold-Dow-Pound-Dollar-BoE-Rate-Decision-Fed-Risk-PMIs.html $GLD $DJI $GBPUSD #Trading
  • Traders focus a lot of their energy on spotting the perfect time to enter a trade. While this is important, it is ultimately where traders choose to exit trades that will determine success. Learn about the three types of trading exit strategies here: https://t.co/muYkTNXH7s https://t.co/hbZPJmoOHe
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqhRoMG https://t.co/C0i7u1dDKL
  • 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/Q69HKBXeKH
  • (Weekly Technical Outlook) US Dollar Outlook, Key Trend Reversals Playing Out? USD/CAD, AUD/USD, EUR/USD, GBP/USD #USD $USDCAD $AUDUSD $EURUSD $GBPUSD https://www.dailyfx.com/forex/technical/article/special_report/2021/06/20/US-Dollar-Outlook-Key-Trend-Reversals-Playing-Out-USDCAD-AUDUSD-EURUSD-GBPUSD.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/7C56bfljV4
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/Gea69MhO04
  • 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/oPaSJLahbE
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/bFOK9RRXtv
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/LIumDnHrTo
  • Rollover is the interest paid or earned for holding a currency spot position overnight. Learn how to earn rollover interest on your open positions here: https://t.co/SRsG8CxjEn https://t.co/ITdDUGoAL0
Crude Oil Eyes 2-Week Resistance, SPX 500 Fails at Range Top Again

Crude Oil Eyes 2-Week Resistance, SPX 500 Fails at Range Top Again

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • US Dollar Trying to Renew Uptrend After Correcting Lower
  • S&P 500 Fails to Hold Above Near-Term Range Top Again
  • Gold Digesting Gains, Crude Oil Eyes Resistance Above $59

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

US DOLLAR TECHNICAL ANALYSIS – Prices areattempting to launch a recovery after moving downward as expected. Near-term support is in the 11858-86 area (March 18 low, 23.6% Fibonacci retracement), with a break below that on a daily closing basis exposing the 38.2% level at 11679. Alternatively, a turn above the 14.6% Fib expansion at 12066 clears the way for a test of the 12149-77 zone (March 13 high, 23.6% threshold).

Crude Oil Eyes 2-Week Resistance, SPX 500 Fails at Range Top Again

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 are consolidating after moving lower as expected following the appearance of a bearish Evening Star candlestick pattern. A daily close below the March 12low at 2040.10 exposes the 38.2% Fibonacci retracement at 2004.60. Alternatively, a reversal above the 14.6% Fib expansion at 2084.00 targets the 2111.00-19.40 area (23.6% threshold, February 25 high).

Crude Oil Eyes 2-Week Resistance, SPX 500 Fails at Range Top Again

Daily Chart - Created Using FXCM Marketscope

GOLD TECHNICAL ANALYSIS – Prices paused to digest gains after rising to test the highest level since mid-February. A daily close above the 50% Fibonacci expansion at 1216.99 exposes the 61.8% level at 1226.11. Alternatively, a reversal below the 38.2% Fib at 1207.88 targets the 23.6% expansion at 1196.61.

Crude Oil Eyes 2-Week Resistance, SPX 500 Fails at Range Top Again

Daily Chart - Created Using FXCM Marketscope

CRUDE OIL TECHNICAL ANALYSIS – Prices are aiming to test resistance at 59.35, the 38.2% Fibonacci expansion, after pushing above the 23.6% level at 56.75. A daily close above resistance exposes the 50% Fib at 61.45. Alternatively, a reversal back below 56.75 targets the 14.6% expansion at 55.15.

Crude Oil Eyes 2-Week Resistance, SPX 500 Fails at Range Top Again

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