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
More View more
Real Time News
  • Bitcoin bulls surrendered as prices dropped to $38,000. USD supported crypto rally as prices were working higher. Get your market update from @Tams707 here:https://t.co/OiW9Ez73mL https://t.co/NIYPXQA65G
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.68% 🇦🇺AUD: 0.45% 🇯🇵JPY: 0.26% 🇨🇭CHF: 0.13% 🇪🇺EUR: -0.06% 🇨🇦CAD: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/dO4whJ6kMI
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 0.52% Oil - US Crude: -0.14% Gold: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/tYSNBHnkqM
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.86%, while traders in France 40 are at opposite extremes with 82.23%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/johVLfSi0a
  • US Dollar Index treading water above the 92 handle ahead of Friday's jobs report $DXY $USD https://t.co/PKfMKpJBwu
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: France 40: 0.22% Germany 30: 0.20% FTSE 100: 0.11% US 500: 0.01% Wall Street: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/WiPPINSivr
  • Stocks’ earnings data was strong; rocky 3Q’21 may be underway US economic data begins to sour, but the delta variant gives the Fed cover. Get your $USD market update from @CVecchioFX here:https://t.co/sq7BsfyNe9 https://t.co/Ado2dPBJLd
  • #Gold Price Outlook: Gold August Battle Lines Drawn- $XAUUSD Levels - https://t.co/xsdZiL8uyy https://t.co/KnGbp5nXyI
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 0.56% Oil - US Crude: -0.11% Gold: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ZNNdqAFGoX
  • US Senator Schumer: Senate will finish infrastructure and budget bills before August recess $USD $DXY
USDOLLAR Reverses at Elliott Channel AGAIN; Favor Correction

USDOLLAR Reverses at Elliott Channel AGAIN; Favor Correction

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Reverses at Elliott Channel AGAIN; Favor Correction

Chart Prepared by Jamie Saettele, CMT using

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: No change – “A major breakout could be underway from above 10558. Strength above the long term channel suggests acceleration of the rally that began at the 2011 low. This could be EXTREMELY significant. Price has reached the Elliott channel for 5th wave estimation however so don’t be surprised to see at least consolidation if not a deeper setback from current levels. Considering that the USDJPY is responsible for most of the rally in recent months, a USDJPY turn may be closer than many think.” The next week or so could see the USDOLLAR makes its way towards the topside of the larger channel (blue) before finding an important low.

FOREX Trading Strategy: Flat

LEVELS: 10679 10715 10772 10830 10882 10934

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com.  Follow me on Twitter for real time updates @JamieSaettele

Subscribe to Jamie Saettele'sdistribution list in order to receive actionable FX trading strategy delivered to your inbox. Jamie is the author of Sentiment in the Forex Market.

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

DISCLOSURES