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
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
Oil - US Crude
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
Wall Street
Bearish
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 1.70% Gold: 0.95% Oil - US Crude: 0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/pdcpeF9zbc
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.61%, while traders in EUR/USD are at opposite extremes with 73.13%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/dqXvVj6gcX
  • Fed Beige Book: - Districts saw modest price increases since last report - Food, autos, and appliances increased significantly in price - Firms continue to take on additional costs related to Covid, including ppe and technology to work from home $SPX $NDX $DXY
  • Fed Beige Book: - Economic output continued to increase across all Fed Districts at a slight to moderate pace - Manufacturing activity increased at a moderate pace in general - Consumer spending growth continues to be positive $DXY
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.05% Germany 30: 0.05% France 40: -0.11% FTSE 100: -0.12% Wall Street: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/qRmsVvTyG6
  • Heads Up:🇺🇸 Fed Beige Book due at 18:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-10-21
  • Senate Democrats have the votes required to block GOP on aid bill $DXY $SPX
  • Senator Shelby says he is open to $1.9 trillion virus aid package depending on details - BBG
  • Oh look at that, stimulus hopes are off again. The market is definitely growing apathetic towards a follow up stimulus. The issue though is that status quo translates into greater risk of stalled economic recovery and possibly even return to recession
  • A volunteer in Brazil's AstraZeneca vaccine trial has died: Reuters via BBG
US Dollar Tumbles, but Support Likely to Hold Back Further Declines

US Dollar Tumbles, but Support Likely to Hold Back Further Declines

2015-06-02 14:45:00
David Rodriguez, Head of Product
Share:

- US Dollar pulls back sharply, but key support versus Euro and others slows breakdown

- Keep an eye on key price levels in order to gauge likelihood of further EUR breakout

- See more information on DailyFX on the Real Volume and Transactions indicators

Receive the Weekly Volume at Price report via PDF via David’s e-mail distribution list.

The US Dollar has pulled back sharply across the board, but key volume-based support versus the Euro and other pairs may hold back further breakdowns.

EURUSD

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Tumbles, but Support Likely to Hold Back Further Declines

Data source: FXCM Real Directional Volume Indicator, Chart source: R. Prepared by David Rodriguez

The Euro recently bounced off of important volume-based support versus the US Dollar near the $1.0850 mark, and a continued hold above leaves focus on near-term resistance starting at $1.1200.

GBPUSD

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Tumbles, but Support Likely to Hold Back Further Declines

The British Pound trades near fairly important volume-based support near $1.5150, and a breakdown points to subsequent price floors near $1.4850. A hold above leaves focus on resistance near $1.5400.

USDJPY

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Tumbles, but Support Likely to Hold Back Further Declines

The US Dollar has broken substantially above volume-based resistance and trades near decade-plus highs versus the Yen. There is little similar resistance, and 2002 price ceilings near ¥125 mark the next target.

AUDUSD

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Tumbles, but Support Likely to Hold Back Further Declines

The Australian Dollar has broken below important volume-based support levels near $0.7800 but has thus far held above key levels of interest in the $0.7600-0.7650 zone. $0.78 continues to mark key resistance.

GBPJPY

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Tumbles, but Support Likely to Hold Back Further Declines

The Sterling currently trades at fresh post-financial crisis highs, and our forex volume data shows near-term support starts at ¥188. There is little in the way of comparable resistance until 9/2008 highs near ¥197.

EURJPY

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Tumbles, but Support Likely to Hold Back Further Declines

The Euro has traded above important volume-based resistance versus the Japanese Yen at ¥137, and a further close above ¥139 would leave our bias firmly bullish. Former resistance is support at 137.

USDCHF

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Tumbles, but Support Likely to Hold Back Further Declines

The US Dollar continues to hold below considerable volume-based technical resistance starting at SFr0.9500 versus the Swiss Franc, and indeed a failure to climb above SFr0.9600 leaves risks to the downside.

USDCAD

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Tumbles, but Support Likely to Hold Back Further Declines

The US Dollar has traded above considerable volume-based support-turned-resistance versus the Canadian Dollar at C$1.2500, but a failure to close above may keep risks to the downside. Support starts near C$1.22.

NZDUSD

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Tumbles, but Support Likely to Hold Back Further Declines

The New Zealand Dollar has traded below all notable volume-based support levels and broken to fresh lows below $0.7170. Risks remain to the downside as there is so significant support seen until $0.7000.

AUDJPY

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Tumbles, but Support Likely to Hold Back Further Declines

The AUD/JPY trades above volume-based technical levels in the ¥93.50-95.50 range, and a sustained move above leaves little in the way of major resistance. Subsequent price targets start at May highs near ¥97.

EURAUD

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Tumbles, but Support Likely to Hold Back Further Declines

The EUR/AUD trades below key volume-based resistance in the A$1.4350-1.4500 range, and a hold below leaves focus on support near A$1.4100. There is little comparable resistance on a break above A$1.45.

EURGBP

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Tumbles, but Support Likely to Hold Back Further Declines

The Euro/Sterling has traded above meaningful price/volume congestion starting near £0.7200, but it would take a close above 0.7400 to meaningfully change our bearish trading bias. Support remains near 0.70.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

Receive the Weekly Volume at Price report via PDF via David’s e-mail distribution list.

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX

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

DISCLOSURES