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
Bearish
Oil - US Crude
Bearish
Wall Street
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • BOJ GOV KURODA: - will consider expanding ETF purchases if needed - monetary easing is needed until price-target is met - will consider new easing measures if needed - BoJ's extraordinary measures wont stay post-coronavirus #USDJPY #BOJ
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 1.44% Oil - US Crude: 1.02% Gold: 0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/zbMOhIkpeW
  • As political tensions between the US and China increase, $gld is picking up a safe-haven bid ahead of the long weekend and may look to press higher. Get your $XAUUSD market update from @nickcawley1 here: https://t.co/boUn4vyfCO https://t.co/beDj1yEO0U
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.29% 🇦🇺AUD: 0.28% 🇬🇧GBP: 0.17% 🇪🇺EUR: 0.14% 🇨🇭CHF: 0.12% 🇯🇵JPY: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/qj45yOo16T
  • BOJ GOV KURODA: - will consider changing rates of yield curve control if needed - will consider expanding loan programs if needed #USDJPY #BOJ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.43%, while traders in US 500 are at opposite extremes with 78.26%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/4TavGtwG3Z
  • Risk-on tone prevailing in APAC trade. #SPX futures up with #AUD and #NZD as #USD, #JPY and #bonds decline. #Gold interestingly up with stocks despite higher yields, weaker US$ may be the driver https://t.co/MJH6iKu3MX
  • China sets #USDCNY daily reference rate at 7.1293 vs 7.1277 yesterday
  • BOJ GOV KURODA: - Won't hesitate to add to easing if needed, carefully watching virus impact #USDJPY #BOJ
  • BOJ GOV KURODA: - Global economy rapidly worsening due to virus, Japan expected to remain in 'severe' situation - Uncertainty extremely high for economic outlook, financial markets still nervous #USDJPY #BOJ
Forex: US Dollar Technical Analysis – Looking for a Breakout

Forex: US Dollar Technical Analysis – Looking for a Breakout

2014-04-04 05:57:00
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: 10495-500 (Mar 19 low, 38.2% Fib exp.), 10470 (50% Fib exp.)
  • Resistance: 10595 (38.2% Fib ret.), 10626 (50% Fib ret.)

The Dow Jones FXCM US Dollar Index is still trading sideways in a choppy range below resistance at 10595, the 38.2% Fibonacci retracement. A push through initial support in the 10495-500 area, marked by the 38.2% Fib expansion and the March 19 low, targets the 50% level at 10470. Alternatively, a turn back above resistance exposes the 50% Fib retracement at 10626.

Our long-term fundamental outlook continues to favor a stronger US Dollar against its major currency counterparts in the months ahead. As such, we continue to hold a long position via theMirror Trader US Dollar currency basket. **

dailyclassics_us_dollar_index_body_Picture_11.png, Forex: US Dollar Technical Analysis – Looking for a Breakout

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.