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
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
GBP/USD
Bearish
USD/JPY
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
Gold
Bearish
Oil - US Crude
Mixed
Bitcoin
Bullish
More View more
Breaking news

British Pound surges after UK exit poll shows Conservatives expected to win 368 seats out of 650

Real Time News
  • RT @FinancialTimes: To provide some historical context, if the #exitpoll is correct this will be Labour’s worst result in 84 years https://…
  • The rally in AUD/USD, NZD/USD and USD/JPY may prolong after the US-China trade deal and the UK Exit Poll induced a “risk-on” tilt in financial markets ahead of the APAC trading session $AUDUSD $NZDUSD $USDJPY #tradewar - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2019/12/13/USDJPY-AUDUSD-NZDUSD-Price-Rally-May-Extend-on-Trade-Deal.html?CHID=9&QPID=917702 https://t.co/vSglkq5azs
  • Large Conservative Majority expected, What Happens Next? $GBP https://t.co/Mz4kZXuFUX
  • Reaction from EU - Brussels expect trade talks will start in March. - However, they do not believe an ambitious trade deal is possible to be negotiated and ratified by Dec 2020 - Only possibility is quick FTA on EU terms - BBC's Adler $GBP
  • RT @EdwardLawrence: The source says a signing ceremony will not happen with President Xi. There will be a rollout of the agreement by the W…
  • RT @EdwardLawrence: The source says Dec 15th tariffs do not go forward. There will be a small reduction in tariffs on some Chinese goods as…
  • RT @EdwardLawrence: A trade source tells me this is a historic day. US & China agree to a Phase One deal on Paper. The source says Chinese…
  • 🇯🇵 JPY Tankan Large Manufacturing Index (4Q), Actual: 0 Expected: 3 Previous: 5 https://www.dailyfx.com/economic-calendar#2019-12-12
  • 🇯🇵 JPY Tankan Large Manufacturers Outlook (4Q), Actual: 0 Expected: 3 Previous: 2 https://www.dailyfx.com/economic-calendar#2019-12-12
  • 🇯🇵 JPY Tankan Small Non-Manufacturing Outlook (4Q), Actual: 1 Expected: 3 Previous: 1 https://www.dailyfx.com/economic-calendar#2019-12-12
US Dollar Technical Analysis: Down Move Could Be Next

US Dollar Technical Analysis: Down Move Could Be Next

2014-09-10 01:13:00
Ilya Spivak, Sr. Currency Strategist
Share:

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

Talking Points:

The Dow Jones FXCM US Dollar Indexmay be preparing to turn lower after putting in a Shooting Star candle having set a new 2014 high. Near-term support is at 10800, the 61.8% Fibonacci expansion, with a break below that on a daily closing basis exposing the 10756-65 area marked by the January 2014 high and the 50% level. Alternatively, a push above the 76.4% Fib at 10844 opens the door for a challenge of the 100% expansion at 10914.

Our long-term US Dollar outlook calls for a broadly stronger US Dollar against its major currency counterparts. With that in mind, we are holding long via theMirror Trader US Dollar currency basket.

US Dollar Technical Analysis: Down Move Could Be Next

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.