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
EUR/USD
Bearish
Oil - US Crude
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
Wall Street
Bearish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • 🇦🇺 Inflation Rate YoY (Q3) Actual: 0.7% Expected: 0.7% Previous: -0.3% https://www.dailyfx.com/economic-calendar#2020-10-28
  • 🇦🇺 Inflation Rate QoQ (Q3) Actual: 1.6% Expected: 1.5% Previous: -1.9% https://www.dailyfx.com/economic-calendar#2020-10-28
  • What is the US Dollar outlook based on retail positioning ahead of the November 3rd presidential election? $EURUSD may fall as $AUDUSD rises. Which way could $USDCAD capitulate ahead? - https://www.dailyfx.com/forex/technical/article/special_report/2020/10/28/US-Dollar-Sentiment-Outlook-EURUSD-AUDUSD-USDJPY-Retail-Positioning.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/nrELoX9dli
  • #ASX200 bursting higher after falling back to the H&S neckline and 50% Fib (6013.46) A push back towards the 6,100 mark could be on the cards if resistance at the 38.2% Fib (6069.65) gives way. #XJO https://t.co/zdOqIjcbbE
  • The AUD/USD exchange rate appears to be struggling to overcome key chart resistance ahead of Q3 inflation data as the RBA hints at further easing. Get your $AUDUSD market update from @DanielGMoss here:https://t.co/TJSXzD5qRB https://t.co/idsNEKpiym
  • Heads Up:🇦🇺 Inflation Rate QoQ (Q3) due at 00:30 GMT (15min) Expected: 1.5% Previous: -1.9% https://www.dailyfx.com/economic-calendar#2020-10-28
  • Heads Up:🇦🇺 Inflation Rate YoY (Q3) due at 00:30 GMT (15min) Expected: 0.7% Previous: -0.3% https://www.dailyfx.com/economic-calendar#2020-10-28
  • Double top looking more plausible in the #SPX500, hinting a significant risk-off move is brewing across the broader markets. Confirmation on a daily close below 3198-3231 area, it seems #SP500 #stocks #technicalanalysis https://t.co/bhHZtJyoMN
  • Heads Up:🇨🇳 Communist Party Annual Meeting due at 00:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-10-28
  • The British Pound, Australian Dollar and US Dollar may all experienced heightened periods of volatility as geopolitical risks in North America, Asia and Europe rattle global financial markets. Get your $GBPUSD market update from @ZabelinDimitri here:https://t.co/0EFToM5Y8I https://t.co/JcOmMXJs1l
US Dollar Technical Analysis – Treading Water Before FOMC

US Dollar Technical Analysis – Treading Water Before FOMC

2014-06-17 01:50:00
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: 10430 (trend line), 10375 (double bottom)
  • Resistance:10474-95, 10531 (May 28 high)

The Dow Jones FXCM US Dollar Index is in digestion mode after following last week’s sharp decline. Dropping beneath resistance-turned-support in the 10474-95 area has opened the door for a test of a trend-defining rising trend line set from July 2011 (now at 10430). A break below this threshold on a daily closing basis exposes a double bottom at 10375. Alternatively, a turn above 10495 clears the way for another challenge of 10531, the May 28 high.

We remain broadly bullish on the US Dollar against its leading counterparts in line with ourlong-term fundamental outlook. As such, we remain long via theMirror Trader US Dollar currency basket.

US Dollar Technical Analysis – Treading Water Before FOMC

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