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
GBP/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
More View more
Real Time News
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4Cnoc1dk0 https://t.co/NhsMS1EY4b
  • We are heading into the final trading days for the month of September and event risk thins out amid the $SPX's rebound. This is what history says for the 39th week of the year and here is my take on the variable factors: https://www.dailyfx.com/forex/video/daily_news_report/2021/09/25/SP-500-and-Dollar-Have-Different-Views-for-Last-Week-of-September.html https://t.co/4OBVmrvI7I
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today: https://www.dailyfx.com/free-trading-guides?ref-author=social#forecastschoices=AUD?QPID=30472&CHID=9 https://t.co/LHJi7CNFmM
  • $EURUSD https://t.co/KZyXX6p2oI
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here: https://t.co/MZtBh8pYG3 https://t.co/1zNf5dpDjU
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/z8z6BNudn5
  • #PELOSI SAYS WE ARE GOING TO PASS THE INFRASTRUCTURE BILL THIS WEEK PELOSI SAYS SHE WILL NEVER BRING TO THE HOUSE FLOOR A BILL THAT DOESN'T HAVE THE VOTES TO PASS $USD $SPX $XAUUSD
  • Short-term uncertainties to keep the pressure on equity markets. Get your weekly equities forecast from @JMcQueenFX here: https://t.co/JLMDPZKvN8 https://t.co/YbdJnwoqj1
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/hqW38VawJl
  • - Unreal atmosphere - Shame about the result, but no complaints - Usyk masterclass - Heavyweight division blown wide open https://t.co/BKCLJTDk9h
Crude Oil Holding Trend Support, SPX 500 Rebound Meets Resistance

Crude Oil Holding Trend Support, SPX 500 Rebound Meets Resistance

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • US Dollar Breaks Range Floor, Drops to Lowest in a Month
  • S&P 500 Recovery Capped at Trend Line Resistance Again
  • Gold, Crude Oil Continue to Mark Time at Familiar Levels

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

US DOLLAR TECHNICAL ANALYSIS – Prices broke downward out of consolidation, hitting the weakest level in a month. Near-term support is at 11790, the 61.8% Fibonacci retracement, with a break below that on a daily closing basis exposing the 76.4% level at 11731. Alternatively, a move above the 11834-9 area (May 20 close, 50% Fib) opens the door for a challenge of the 38.2% retracement at 11887.

Crude Oil Holding Trend Support, SPX 500 Rebound Meets Resistance

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

S&P 500 TECHNICAL ANALYSIS – Prices rebounded from rising trend line support set from late-March once again. From here, a push above 2107.10 (downward-sloping resistance, 38.2% Fibonacci expansion) exposes the 50% level at 2119.10. Alternatively, a move below the 2077.20-82.90 area (trend line, 61.8% Fib retracement) targets the 76.4% threshold at 2063.00.

Crude Oil Holding Trend Support, SPX 500 Rebound Meets Resistance

GOLD TECHNICAL ANALYSIS – Prices continue to tread water below the $1200/oz figure. A break above the 38.2% Fibonacci retracement at 1189.26 exposes trend line support-turned-resistance at 1193.08, followed by the 50% Fibonacci retracement at 1197.47. Alternatively, a move below the 23.6% Fib expansion at 1175.79 targets the 38.2% threshold at 1165.62.

Crude Oil Holding Trend Support, SPX 500 Rebound Meets Resistance

CRUDE OIL TECHNICAL ANALYSIS – Prices may be resuming the recovery launched from mid-January lows after completing a Flag continuation pattern. Near-term resistance is at 66.69, the 23.6% Fibonacci expansion, with a break above that exposing the 38.2% level at 70.25. Alternatively, a move below trend line support at 63.47 targets the 38.2% Fib retracement at 60.27.

Crude Oil Holding Trend Support, SPX 500 Rebound Meets Resistance

--- 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