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
Mixed
Oil - US Crude
Mixed
Wall Street
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 1.03% 🇯🇵JPY: 0.64% 🇨🇭CHF: 0.51% 🇪🇺EUR: 0.37% 🇦🇺AUD: 0.36% 🇨🇦CAD: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/N0OkEZmYKA
  • $USDJPY has fallen to its lowest point in over a month today amidst continued weakness from the US Dollar, breaking through support at the 108.50 level to hit an intraday low around 108.00 $USD $JPY https://t.co/lirGaySJpx
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: France 40: 0.19% FTSE 100: -0.35% Wall Street: -0.39% Germany 30: -0.45% US 500: -0.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/qJAcXrop9l
  • EURGBP - that's a very heavy-looking candle being made today...back below 0.8600 and more? #eurgbp #sterling @DailyFX https://t.co/BKXijUZEew
  • Dogecoin ($DOGEUSD) has all but recovered from the Saturday tumble, but Bitcoin and others are struggling to get back their lift https://t.co/Ndfrmrx2Gg
  • $EURGBP has been headed lower since hitting a one month high near 0.8720 last week. The pair met resistance around the 0.8670 level while attempting to rebound today and dropped further, now trading at a twelve day low around the 0.8610 level. $EUR $GBP https://t.co/YBfI3pUcHy
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.16% Gold: -0.18% Silver: -0.63% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/FWbwDp2umt
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.55%, while traders in Germany 30 are at opposite extremes with 80.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/sU4i2GAyH0
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.57% Gold: -0.29% Silver: -0.68% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/WVyGzaPwLC
  • US 10yr Treasury yields have moved higher today. After falling to a one month low around the 1.53% level last week, yields are currently trading back above the 1.60% level. $USD https://t.co/kgwd6PfepQ
Crude Oil Levitates to Range Top, SPX 500 Digesting Near Record Highs

Crude Oil Levitates to Range Top, SPX 500 Digesting Near Record Highs

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • US Dollar May Be Preparing to Resume Correction Lower
  • S&P 500 Awaits Direction Cues After Hitting Record High
  • Crude Oil Drifts to Range Top, Gold Still Treading Water

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

US DOLLAR TECHNICAL ANALYSIS – Prices may be preparing to turn lower anew following the formation of a Bearish Engulfing candlestick pattern. A daily close below the 14.6% Fibonacci expansion at 11773 exposes the 23.6% level at 11725. Alternatively, a reversal above the 38.2% Fib retracement at 11836 opens the door for a challenge of the 50% threshold at 11898.

Crude Oil Levitates to Range Top, SPX 500 Digesting Near Record Highs

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 breaking range resistance and setting a new record high. From here, a daily close above the 50% Fibonacci expansion at 2140.70 exposes the 61.8% level at 2159.30. Alternatively, a move back below the 38.2% Fib at 2122.10 targets the 23.6% expansion at 2099.10.

Crude Oil Levitates to Range Top, SPX 500 Digesting Near Record Highs

Daily Chart - Created Using FXCM Marketscope

GOLD TECHNICAL ANALYSIS – Prices are consolidating after issuing the largest daily decline in three weeks. A close below trend line resistance-turned-support at 1205.90 exposes the 23.6% Fibonacci expansion at 1193.38. Near-term resistance is at 1232.30, the May 18 high.

Crude Oil Levitates to Range Top, SPX 500 Digesting Near Record Highs

Daily Chart - Created Using FXCM Marketscope

CRUDE OIL TECHNICAL ANALYSIS – Prices remain locked in a choppy consolidation range below the $70/barrel figure. A daily close below the 23.6% Fibonacci retracement exposes the 38.2% level at 60.27. Alternatively, a move above trend line resistance at 67.69 targets the 23.6% Fib expansion at 69.70.

Crude Oil Levitates to Range Top, SPX 500 Digesting Near Record Highs

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