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
Bullish
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
Mixed
GBP/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
USD/JPY
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
  • Fed's Bullard: - Sees US growth at 6.5% in 2021 - Base effects in inflation will make numbers hard to interpret - We remain in a period of uncertainty about inflation and will not know for sure until the dust has settled later this year #Fed $USD
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: France 40: 0.02% FTSE 100: -0.03% Germany 30: -0.05% Wall Street: -0.07% US 500: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Rwina1eAS0
  • $EURUSD has produced two consecutive inside day candles thus far in Monday trade. The three-day range as a percentage of spot is the smallest since February 20, 2020 https://t.co/G5W3j5kU8K
  • $EURCHF has continued to weaken today, dropping below the 1.1000 level to trade at its lowest point since the beginning of March. $EUR $CHF https://t.co/yHxsXK2VG1
  • Ethereum continues to post new highs. Ripple accelerates higher over the weekend. Get your cryptocurrency market update from @nickcawley1 here:https://t.co/KtaksFYfKa https://t.co/mMBSIsJhtl
  • US Indices are all currently trading in the red today, with small caps leading the decline. DOW -0.21% NDX -0.50% SPX -0.15% RUT -0.86% $DIA $QQQ $SPY $IWM
  • While most people are looking to the likes of GBPUSD (good range conditions) or USDJPY (tripped up in its reversal), the most impressive Dollar-based major for run in my book is $USDINR which earned a serious break and on a 5-day climb https://t.co/uVzpgNXPn1
  • #Silver has headed lower today, dropping from around 25.20 back below the 25.00 level. The metal hit an intraday low around 24.70, its lowest point in nearly a week. $XAG #SLV https://t.co/Aa0d1ZESZn
  • RT @WillZalatoris: If you’re ever in need of a caddie again let me know. I’ll be better this time. I’m always available for you, Mr. Gilmo…
  • Technical Levels for US #Dollar, $GBPUSD, $USDCAD, $AUDUSD & #Gold - (Webinar Archive) - https://t.co/QziUbMdBZL
US Dollar Technical Forecast for the Week Ahead: USD in Limbo

US Dollar Technical Forecast for the Week Ahead: USD in Limbo

Paul Robinson, Strategist

USD Technical Outlook:

  • WTI crude oil continues to rally within channel formation
  • May be in for a pullback/consolidation, using channel as guide
Advertisement

US Dollar Technical Forecast for the Week Ahead: USD in Limbo

The US Dollar (DXY) is trying to keep itself in the game for a continued rally, but due to the general downtrend it faces the outlook is a bit uncertain. If the decline can halt soon (or if it already did on Friday), a short period of digestion might help firm up a base to continue higher. It won’t be long though before the descending 200-day MA will come into play, currently at 92.80.

The recent high at 92.50 and the 200-day are in rough alignment with a series of lows creating during the middle section of 2020. A climb above the 200 will have the DXY trading in open space above all meaningful resistance, opening up a path towards the 94s.

But before getting to that juncture there is a fair amount of work yet to be done. If the DXY continues to sink even a little lower, a bearish outlook will quickly grow legs. Until there is a bit more clarity the outlook appears neutral.

US Dollar (DXY) Daily Chart (can it hold its ground?)

Dollar Index Chart

US Dollar Index (DXY) Chart by TradingView

Resources for Forex Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at@PaulRobinsonFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES