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
Mixed
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
Mixed
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.32% 🇬🇧GBP: 0.27% 🇪🇺EUR: 0.24% 🇨🇭CHF: 0.16% 🇯🇵JPY: 0.09% 🇳🇿NZD: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/O81hxQPBpL
  • Heads Up:🇯🇵 Tertiary Industry Index MoM (MAY) due at 04:30 GMT (15min) Previous: -6.0% https://www.dailyfx.com/economic-calendar#2020-07-13
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.31% France 40: 1.23% FTSE 100: 0.94% Wall Street: 0.64% US 500: 0.54% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/YSclbAH1mY
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/sBmNFhegO2
  • RT @DanielGMoss: Broad risk-on tilt seen during #APAC trade with the trade-sensitive $AUDUSD following #SP500 futures higher Haven-associa…
  • (ASEAN Fundy Weekly) The US #Dollar weakened against #ASEAN currencies like the Singapore Dollar, Malaysian #Ringgit, Indonesian #Rupiah and Philippine Peso. Ahead, Chinese GDP and US retail sales are eyed $USDSGD $USDMYR $USDIDR $USDPHP - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/07/13/US-Dollar-Fundamental-Outlook-USDSGD-USDMYR-USDIDR-USDPHP.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/6ebwzv8CNq
  • Join @ZabelinDimitri 's #webinar at 11:30 PM ET/3:30 AM GMT to find out how geopolitical risk will affect the markets in the week ahead. Register here: https://t.co/hsULxMNOtM https://t.co/GACWUtDtzQ
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 0.57% Gold: 0.29% Oil - US Crude: -1.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/EfspstHr9Q
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.28% 🇬🇧GBP: 0.26% 🇪🇺EUR: 0.20% 🇨🇭CHF: 0.15% 🇯🇵JPY: 0.12% 🇳🇿NZD: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/nfslZw4Q04
  • THAT break in copper right there is huge. Unsure why? Copper is used in highly-cyclical industries like manufacturing, industrial machinery and construction that are typically hit first amid global slowdown. From a fundamental perspective, this recovery is telling. https://t.co/IxK0SAqhx7
US Dollar Technical Analysis: Risk of Downswing Remains

US Dollar Technical Analysis: Risk of Downswing Remains

2014-08-15 04:35:00
Ilya Spivak, Head Strategist, APAC
Share:

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

Talking Points:

The Dow Jones FXCM US Dollar Index may be vulnerable to a correction lower after an expected advance brought prices to a five-month high. The case for a downswing rests on the appearance of a Spinning Top candlestick coupled with negative RSI divergence. Near-term support is at 10554, the 23.6%Fibonacci expansion, with a break below that on a daily closing basis exposing the 14.6% level at 10536. Alternatively, a push above the 38.2% Fib at 10582 clears a path to test the 50% expansion at 10606.

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: Risk of Downswing Remains

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.