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.

Free Trading Guides
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
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
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Análisis $USDMXN: Peso Mexicano cierra el primer trimestre con pérdidas superiores al 28% #usd #mxn #trading https://t.co/cPRrecg6lf
  • Moody's forecasts China real GDP growth of 3.3% for 2020
  • 🇺🇸 USD MBA Mortgage Applications (MAR 27), Actual: 15.3% Expected: N/A Previous: -29.4% https://www.dailyfx.com/economic-calendar#2020-04-01
  • Why must financial market traders monitor both monetary and fiscal policy? Find out from @MartinSEssex here: https://t.co/Fkzk88Y5gm https://t.co/gIARIOHCxS
  • This is a new vehicle for the #Fed to make USD liquidity available across markets. As noted yesterday (https://www.dailyfx.com/forex/fundamental/article/special_report/2020/03/31/US-Dollar-May-Resume-Rise-Amid-Global-Recession-Fears.html) the market pop after the open-ended QE news looked temporary as credit conditions remained stubbornly tight https://t.co/DlbIue2Ve5
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.66%, while traders in EUR/GBP are at opposite extremes with 70.91%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/RWMrvVaVrN
  • Heads Up:🇺🇸 USD MBA Mortgage Applications (MAR 27) due at 11:00 GMT (15min), Actual: N/A Expected: N/A Previous: -29.4% https://www.dailyfx.com/economic-calendar#2020-04-01
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Gold: 1.01% Silver: 0.52% Oil - US Crude: 0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/TMmVzBqKty
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.00% 🇬🇧GBP: -0.45% 🇨🇭CHF: -0.59% 🇳🇿NZD: -1.01% 🇦🇺AUD: -1.17% 🇨🇦CAD: -1.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/T4HOBphWrG
  • Have you been catching on your @DailyFX #podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/07GFNDWDHA
Forex: US Dollar Technical Analysis – Recovery Takes First Steps

Forex: US Dollar Technical Analysis – Recovery Takes First Steps

2014-03-12 05:31:00
Ilya Spivak, Head Strategist, APAC
Share:

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • US Dollar Technical Strategy: Holding Long via Mirror Trader Basket **
  • Support: 10520 (Feb 17 low)
  • Resistance: 10599 (38.2% Fib ret.), 10629 (50% Fib ret.)

The Dow Jones FXCM US Dollar Index is edging higher as expected after putting in a bullish Morning Star candlestick pattern above support at 10520, the February 17 low. Near-term resistance is at 10599, the 38.2% Fibonacci retracement, with a break above that initially exposing the 50% level at 10629.

On a broad-based long-term basis, our trend bias continues to favor a stronger US Dollar in the months ahead. As such, we remain long the greenback via the Mirror Trader US Dollar currency basket for the time being. **

dailyclassics_us_dollar_index_body_Picture_12.png, Forex: US Dollar Technical Analysis – Recovery Takes First Steps

Daily Chart - Created Using FXCM Marketscope 2.0

** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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

DISCLOSURES

News & Analysis at your fingertips.