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
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
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
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • US Indices are trading higher today as they recover from yesterday's selloff. DOW +1.69% NDX +1.13% SPX +1.66% RUT +0.45% $DOW $QQQ $SPY $IWM
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.32% 🇪🇺EUR: 0.18% 🇨🇭CHF: 0.15% 🇦🇺AUD: 0.09% 🇨🇦CAD: -0.02% 🇯🇵JPY: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/E8tb9vhtOH
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.36% US 500: 1.15% France 40: 0.85% Germany 30: 0.01% FTSE 100: -0.79% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/bvANXMTn3y
  • Heads Up:🇷🇺 Unemployment Rate (DEC) due at 16:00 GMT (15min) Expected: 6.1% Previous: 6.1% https://www.dailyfx.com/economic-calendar#2021-01-28
  • #Gold has strengthened today, rising from a morning low around $1,835 to currently trade above $1,860, its highest level since early this week. $XAU $GLD https://t.co/8eyQFhiGVt
  • USD/CAD extends the advance from the January low (1.2590) as the Federal Reserve’s first interest rate decision for 2021 fails to bolster investor confidence. Get your $USDCAD market update from @DavidJSong here:https://t.co/2DaTqSAkVh https://t.co/55v4nPqL2k
  • Another day of pingpong halts for GME already
  • The US Dollar has now slumped after its early morning strength, with the $DXY falling from around 90.80 to currently trade below 90.50. $USD https://t.co/9P6gO3HaZZ
  • GameStop is pushing fresh record highs just north of 480. And yet, the other supercharged shortsqueezes - AMC, BB, BBY, EXPR, etc - are pulling back a little but still very volatility
  • The DAX 30 is struggling to recover from yesterday’s selloff as risk-off sentiment took control of the markets. Get your stock market update from @HathornSabin here: https://t.co/EFVvYy7ypH https://t.co/BjEB5XgGUW
US Dollar Technical Analysis: Working Toward Range Support

US Dollar Technical Analysis: Working Toward Range Support

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 Index looks to have reversed downward as expected after putting in a bearish Evening Star candlestick pattern. A daily close below the 14.6% Fibonacci retracementat 11740 exposes the 23.6% level at 11653. Alternatively, a turn above trend line support-turned-resistance at 11829 clears the way for a test of the 11854-76 zone (14.6% Fib expansion, March 2009 high).

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.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

US Dollar Technical Analysis: Working Toward Range Support

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