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
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
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
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
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
GBP/USD
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
USD/JPY
Bullish
More View more
Real Time News
  • #Oil Price Outlook: #Crude Caught at Resistance- $WTI Breakout Pending - https://t.co/PmOjGYDx97 https://t.co/JeC4TvlA6i
  • Speaker Pelosi aiming for $2.4 trillion in stimulus proposal according to aides - BBG
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 1.29% Gold: 0.33% Oil - US Crude: -0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/vGkrwaFvt1
  • Fragile risk sentiment has continued to benefit the US Dollar, which has taken the title of the preferred safe-haven from the likes of the Japanese Yen and Swiss Franc. Get your market update from @JMcQueenFX here: https://t.co/jAFn7qGcbd https://t.co/nWLD7cSQUO
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.89%, while traders in EUR/GBP are at opposite extremes with 66.41%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/fWlXXvQUkT
  • 🇲🇽 Interest Rate Decision Actual: 4.5% Expected: 4.25% Previous: 4.5% https://www.dailyfx.com/economic-calendar#2020-09-24
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.97% Wall Street: 0.92% France 40: 0.66% FTSE 100: 0.62% Germany 30: 0.60% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/SmPAA5CRPL
  • RT @FinancialJuice: US JUDGE: THE US MUST DELAY TIKTOK DOWNLOAD BAN OR FILE LEGAL PAPERS BY FRI. 2:30 PM ET DEFENDING THE BAN. - COURT ORDE…
  • Fed's Barkin says markets appear to be more concerned about inflation being low, not high $SPX $XAUUSD
  • Heads Up:🇺🇸 Fed Williams Speech due at 18:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-24
US Dollar Technical Analysis: Retesting Former Resistance

US Dollar Technical Analysis: Retesting Former Resistance

2014-10-28 00:45:00
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 Indexcorrected lower after last week’s breakout seemingly marking the resumption of the longer-term uptrend. Near-term resistance is in the 11102-43 area marked by the 23.6% Fibonacci expansion and the October 3 high, with a break above that on a daily closing basis exposing the 38.2% level at 11216. Alternatively, a reversal back below channel top channel top resistance-turned-support at 10996 opens the door for a challenge of the 10918-59 area (23.6% Fib retracement, October 15 low).

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: Retesting Former Resistance

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