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. See our updated Privacy Policy here.

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
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Bearish
GBP/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
USD/JPY
Bullish
More View more
Real Time News
  • HSBC expect the BoE to raise interest rates by 15bps to 0.25% in May 2022 and 25bps to 0.5% in November 2022 $GBP
  • As the Dollar ($DXY) continues to consolidate after last week's rally, the market's rate forecast via Fed Funds futures (through end 2022) is pricing in most hawkish view since Mar 18, 2020 at 23 bps worth of tightening between now and then https://t.co/ZgknI0hf39
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 0.85% Gold: 0.27% Oil - US Crude: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/5UDOKqOZlT
  • Amazon has been in a fairly consistent range since last August $AMZN over the past week buyers have been driving deeper within resistance zone, ath just above at 3552 https://t.co/Y2BJFHHpsc
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.53%, while traders in GBP/JPY are at opposite extremes with 68.66%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/9wQEDOOqv8
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Silver: 0.68% Gold: 0.18% Oil - US Crude: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/lMDtC6g5Ns
  • Fed's Harker (2023 voter) - US economy is by and large in good shape - employment remains down significantly
  • As widely expected the Bank of England maintained current monetary policy in a 9-0 vote with the interest rate left at 0.1%.Get your market update from @JMcQueenFX here: https://t.co/qUbCxszHkN https://t.co/koNHrYm8pl
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: France 40: 1.04% Germany 30: 0.59% Wall Street: 0.58% US 500: 0.52% FTSE 100: 0.36% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/42kLDACsRo
  • Fed's Barkin (2021 Voter) - Many price hikes are just transitory and will ease as supply comes online
US Dollar Technical Analysis: Pullback May Be in the Cards

US Dollar Technical Analysis: Pullback May Be in the Cards

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

The Dow Jones FXCM US Dollar Indexmay be on the verge of a correction lower as negative RSI divergence points to ebbing bullish momentum. Near-term support is at 10931, marked by a rising trend line set from set from late August, with a break below that on a daily closing basis exposing the 14.6% Fibonacci retracement at 10875. Alternatively, a turn above the 14.6% Fib expansion at 10990 opens the door for a challenge of the 23.6% threshold at 11043.

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: Pullback May Be in the Cards

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