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
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
Oil - US Crude
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
Wall Street
Mixed
Gold
Bearish
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 Ripple are long at 97.16%, while traders in NZD/USD are at opposite extremes with 64.95%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/vVgLKSkG2U
  • Gold on pace for another big decline today, support levels are falling fast. ~1800 is the next major area to keep an eye on in my opinion #Gold $XAU https://t.co/mOjSGm2snA
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.35% Gold: -1.88% Silver: -5.43% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/dpJL9GNED0
  • Gold prices have been showing bearish tendencies for the better part of the past seven weeks, coming fresh on the heels of all-time-highs that printed in early-August. Get your $XAUUSD market update from @JStanleyFX here:https://t.co/ucxIo1pFfg https://t.co/aHUhmb8YVK
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.20% 🇪🇺EUR: -0.26% 🇨🇭CHF: -0.35% 🇨🇦CAD: -0.44% 🇳🇿NZD: -0.99% 🇦🇺AUD: -1.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/3KGtHyMLEM
  • Fed's Rosengren says he is less optimistic against other forecasters in Fed - BBG
  • Fed Chair Powell: - Studying what caused dysfunction in Treasury market back in March - DJ via BBG
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: France 40: -0.25% Germany 30: -0.33% FTSE 100: -0.36% Wall Street: -0.48% US 500: -0.84% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/0ZaXkoSq3u
  • $Gold down to that next support zone, closer and closer to fresh two-month-lows https://t.co/0ecO64jQQc https://t.co/H3eF5Wyi8P
  • Hey traders! Get your Wednesday market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/qJimv2rgqB
Crude Oil Resumes Recovery, SPX 500 Turns Lower as Expected

Crude Oil Resumes Recovery, SPX 500 Turns Lower as Expected

2015-05-01 06:09:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • US Dollar Snaps Six-Day Losing Streak, Hints at Bounce Ahead
  • S&P 500 Turns Downward as Expected, Sinks to Two-Week Low
  • Gold Revisits Range Support, Crude Oil Prices Resume Recovery

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

US DOLLAR TECHNICAL ANALYSIS – Prices snapped a six-day losing streak, forming a bullish Piercing Line candle pattern and hinting at a rebound ahead. A daily close above the 100% Fibonacci expansion at 11809 exposes the 76.4% level at 11864. Alternatively, a move below the 123.6% Fib at 11754 opens the door for a challenge of the 138.2% expansion at 11719.

Crude Oil Resumes Recovery, SPX 500 Turns Lower as Expected

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 Engulfing candlestick pattern, hinting a double top is forming at 2119.40 (February 25 high). A break below the 50% Fibonacci retracement at 2083.50 exposes the 61.8% level at 2073.50. Alternatively, a move above the 38.2% Fib at 2093.50 targets trend line resistance at 2108.10.

Crude Oil Resumes Recovery, SPX 500 Turns Lower as Expected

Daily Chart - Created Using FXCM Marketscope

GOLD TECHNICAL ANALYSIS – Prices are testing support at 1178.38 marked by the March 31 low once again. A break below this barrier on a daily closing basis exposes the 38.2% Fibonacci expansion at 1161.16. Alternatively, a move above the April 28 high at 1215.00 targets the April 6 top at 1224.15.

Crude Oil Resumes Recovery, SPX 500 Turns Lower as Expected

Daily Chart - Created Using FXCM Marketscope

CRUDE OIL TECHNICAL ANALYSIS – Prices pushed higher anew, with buyers now aiming for the 38.2% Fibonacci expansion at 68.91. A break above that on a daily closing basis exposes the 50% level at 71.24. Alternatively, a move below the 23.6% Fib at 66.03 targets the 14.6% expansion at 64.25.

Crude Oil Resumes Recovery, SPX 500 Turns Lower as Expected

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