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
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
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
Bearish
Bitcoin
Mixed
More View more
Real Time News
  • RT @LiveSquawk: RTRS Poll: Washington And Beijing To Sign Interim Trade Deal Within Next 3 Months, Say Majority Of Economists
  • Indeed, you could see rising doubts of a US-China #tradedeal reflected at today's US T-Bill auction for the 4-week security ahead of the December 15 tariff deadline - https://t.co/L6YEhauvzw https://t.co/hTykbYCuVB
  • Is that Hong Kong? Iran? Chile, perhaps? Nope, that'd be Paris, France... https://t.co/JTD0TL5RFI
  • #Euro area stocks may be preparing to break the four-month uptrend built around hopes for a US-China trade deal and an orderly #Brexit outcome. Get your market update from @IlyaSpivak here: https://t.co/ujlCJiXLvh https://t.co/tgq1jyblnN
  • 💵 US Dollar Set for Volatility with NFP Data & Fed Meeting on Deck (via @DailyFX) ➡️ Full Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2019/12/05/us-dollar-volatility-due-to-rise-with-jobs-data-fed-on-deck.html $USD $DXY #Forex #Trading #FOMC #Jobs https://t.co/cdeBn1fvvt
  • The US Dollar eyes its worst week since October as the Euro and British Pound rose. Treasury bills saw their lowest yield since 2018, likely reflecting US-China trade deal skepticism - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2019/12/06/US-Dollar-Drop-Eyes-Support-as-the-Euro-and-British-Pound-Rise.html?CHID=9&QPID=917702 https://t.co/Glqk2x99ml
  • Japanese Yen edging higher early into Asia's Friday trading session #USDJpy #AUDJPy #NZDJPY #EURJPY https://t.co/kiQa2fji2X
  • Ahead of the #UKelection next week, take the time to read up on how politics impacts markets - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/07/04/How-to-Trade-the-Impact-of-Politics-on-Global-Financial-Markets.html
  • Most major central banks won’t meet again until mid-January or early-February. For those with meetings remaining in 2020, no rate moves are expected. Get your market update from @CVecchioFX here:https://t.co/5cVZK98H7H https://t.co/femYKxszVV
  • $USD $CAD $MXN https://t.co/p3bP1d58In
US Dollar Technical Analysis: Prices Drop Most in 2 Months

US Dollar Technical Analysis: Prices Drop Most in 2 Months

2014-12-11 03:45:00
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 Index turned lower from a five-year high as expected after completing a bearish Evening Star candlestick pattern. Near-term support is at 11379, the 23.6% Fibonacci retracement, with a break below that on a daily closing basis exposing the 38.2% level at 11291. Alternatively, a reversal above the 14.6% Fib at 11434 clears the way for a test December 8 high at 11522.

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: Prices Drop Most in 2 Months

Daily Chart - Created Using FXCM Marketscope

** 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.