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
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
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
  • #Bitcoin Tumbles Amid Xinjiang Blackout, Possible US Treasury Investigation - https://www.dailyfx.com/forex/market_alert/2021/04/19/Bitcoin-Tumbles-Amid-Xinjiang-Blackout-Possible-US-Treasury-Investigation.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $BTC https://t.co/zs4eQVrKEP
  • 🇯🇵 Balance of Trade (MAR) Actual: ¥663.7B Expected: ¥490B Previous: ¥215.9B https://www.dailyfx.com/economic-calendar#2021-04-18
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here: https://t.co/lZFM8yG5lv https://t.co/j7No5uPhYF
  • 9 out of 11 S&P 500 sectors ended higher, with 70.9% of the index’s constituents closing in the green. Materials (+1.18%), utilities (+0.81%) and consumer discretionary (+0.78%) were among the best performers, while energy (-0.90%) and information technology (-0.03%) lagged. https://t.co/2qbzKRyx2B
  • 9 out of 11 S&P 500 sectors ended higher, with 70.9% of the index’s constituents closing in the green. Materials (+1.18%), utilities (+0.81%) and consumer discretionary (+0.78%) were among the best performers, while energy (-0.90%) and information technology (-0.03%) lagged. https://t.co/uAt7OhZvYM
  • There's no question about it, trading brings about much emotion. Knowing how to control emotions while trading can prove to be the difference between success and failure. Learn more about managing emotion in trading here: https://t.co/FC7CHp2y70 https://t.co/UvcEzMKGmI
  • What are some key takeaways for trading gold? Get your free insight here: https://t.co/lnxaQOsgid https://t.co/GOBTKkCEKh
  • *Reminder: Weekly Strategy Webinar Monday morning at 8:30am ET (12:30GMT) on DailyFX - https://t.co/lxd5fZ5LG7 Mid-Weekly Technical Update on Wednesday at 9:30am ET (13:30GMT) with IG - https://t.co/8SFBJxwo30
  • Forex trading, which is the act of exchanging fiat currencies, is thought to be centuries old – dating back to the Babylonian period. Learn about the history of Forex here: https://t.co/1ZR5OCfY3u https://t.co/NMiJrp6wmP
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/bZEFtoQJgE https://t.co/RT9Z4K8xCy
US Dollar Drop Continues - Now What? USD/SGD, USD/MYR, USD/PHP, USD/IDR

US Dollar Drop Continues - Now What? USD/SGD, USD/MYR, USD/PHP, USD/IDR

Daniel Dubrovsky, Strategist

US Dollar, USD/SGD, USD/MYR, USD/PHP, USD/IDR – ASEAN Technical Analysis

  • Singapore Dollar may extend gains against the US Dollar
  • USD/MYR at pivotal support zone within Triangle pattern
  • USD/PHP could reverse higher, USD/IDR may also rise

Singapore Dollar Technical Outlook

The Singapore Dollar may extend its advance against the US Dollar after USD/SGD closed under the March low at 1.3760. This has exposed the 78.6% Fibonacci retracement at 1.3699 as immediate support. A bounce off that price may place the focus on falling resistance from late March – red line on the daily chart below. This trend line could reinstate the focus to the downside. A close under 1.3699 may pave the way to test 1.3558 which is an inflection point from November 2019.

USD Forecast
USD Forecast
Recommended by Daniel Dubrovsky
What is the road ahead for the US Dollar in Q3?
Get My Guide

USD/SGD Daily Chart

US Dollar Drop Continues - Now What? USD/SGD, USD/MYR, USD/PHP, USD/IDR

USD/SGD Chart Created in TradingView

Malaysian Ringgit Technical Outlook

The Malaysian Ringgit seems to be trading within a Descending Triangle chart pattern. This is typically a continuation pattern but it can at times signify a top, or an extension of one in this case. Closing under triangle support at 4.2350 could open the door to extending the downtrend in USD/MYR since March. That would place the focus on key support at 4.2020 which is the 61.8% Fibonacci retracement. A bounce off immediate support however could result in a retest of triangle resistance, opening the door to a reversal to the upside.

Forex for Beginners
Forex for Beginners
Recommended by Daniel Dubrovsky
Learn how to become a more consistent forex trader
Get My Guide

USD/MYR Daily Chart

US Dollar Drop Continues - Now What? USD/SGD, USD/MYR, USD/PHP, USD/IDR

USD/MYR Chart Created in TradingView

Philippine Peso Technical Outlook

The Philippine Peso may be at risk to the US Dollar with USD/PHP trading within a Falling Wedge chart pattern. This is typically a bullish reversal pattern which may come into play given a daily close above its ceiling. A key zone of resistance to watch for seems to be an inflection zone between 49.61 and 49.73. Immediate support sits below at 48.93 which is the 61.8% Fibonacci extension. Falling beyond that exposes the high from October 2016 at 48.66.

Find your trading personality and optimal forms of analysis

USD/PHP Daily Chart

US Dollar Drop Continues - Now What? USD/SGD, USD/MYR, USD/PHP, USD/IDR

USD/PHP Chart Created in TradingView

Indonesian Rupiah Technical Outlook

The US Dollar is holding its ground against the Indonesian Rupiah as USD/IDR idles on the 14563 inflection point. Last week, a Golden Cross bullish technical signal emerged as the 20-day Simple Moving Average (SMA) crossed above the 50-day one. A bounce from here could place the focus on key resistance at 14827. Closing above this price would open the door to extending the bottom from June. Otherwise, further losses may see USD/IDR pressure support below at 14342.

USD/IDR Daily Chart

US Dollar Drop Continues - Now What? USD/SGD, USD/MYR, USD/PHP, USD/IDR

USD/IDR Chart Created in TradingView

--- Written by Daniel Dubrovsky, Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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

DISCLOSURES