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  • We've taken out short-term support on $SPX. Bigger levels below though. For this index, it is 4,000. For the Nasdaq 100, which has a floor more immediately at hand, it is 13,000 https://t.co/KeHxTw81Ht
  • Heads Up:🇺🇸 Monthly Budget Statement (APR) due at 18:00 GMT (15min) Expected: $-220B Previous: $-660B https://www.dailyfx.com/economic-calendar#2021-05-12
  • US Dollar Rip, Dip, Rip Around CPI: EUR/USD, USD/CAD https://www.dailyfx.com/forex/video/live_events/2021/05/12/usd-rip-dip-rip-around-cpi-eurusd-eur-usd-usd-cad-usdcad.html
  • Heads Up:🇺🇸 Fed Harker Speech due at 17:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-12
  • EUR/USD pulls back from a fresh monthly high (1.2182) even as the European Central Bank (ECB) slows the pace of the pandemic emergency purchase programme. Get your $EURUSD market update from @DavidJSong here:https://t.co/bBDJlErqVI https://t.co/aA6wqLygPE
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.93%, while traders in GBP/USD are at opposite extremes with 69.03%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HQJH0sy4AD
  • Heads Up:🇺🇸 Fed Bostic Speech due at 17:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-12
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.22% Gold: -0.76% Silver: -1.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/fRX841FAfC
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.16% 🇬🇧GBP: -0.56% 🇨🇭CHF: -0.60% 🇯🇵JPY: -0.89% 🇦🇺AUD: -1.47% 🇳🇿NZD: -1.61% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/nZKnhhjNMy
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.19% Germany 30: -0.28% France 40: -0.32% Wall Street: -1.32% US 500: -1.58% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/FbBNVFy3wI
US Dollar Index – Uptrend as Long as the Channel Holds

US Dollar Index – Uptrend as Long as the Channel Holds

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

US Dollar Index – Uptrend as Long as the Channel Holds

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-DXY held trendline support at the March low and just found resistance from the median line of the 2016 channel. I don’t have a strong opinion on direction right now but the barriers are the January-March line and 2016 trendline. A move on either side of these lines (daily close) ideally ushers in the next directional move.

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

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