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
Mixed
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • The US Dollar has proved buoyant thus far in 2021. Will it continue now that administrations have changed? Depends on fiscal stimulus. Get your market update from @CVecchioFX here: https://t.co/pgg4yTlcMt https://t.co/L3EbveLRHX
  • President Biden acting quickly. Has already signed a run of executive orders, one of which is brining the United States back into the Paris Agreement. I think a number of industries expected this, including the auto-manufacturers
  • President Biden signs new executive orders revoking the Keystone XL Oil Pipeline permit, US will rejoin Paris Climate Agreement - BBG
  • We had the BOC and Brazilian Central Bank rate decisions today. Coming up over the next 24 hours, we have the BOJ, Norges, South African Reserve Bank, Turkish Central Bank and ECB rate decisions. On balance, unlikely a serious dictate for global risk trends https://t.co/Bop4gmgprL
  • Asian futures point higher as US equities close at record highs - BBG
  • 🇧🇷 Interest Rate Decision Actual: 2% Expected: 2% Previous: 2% https://www.dailyfx.com/economic-calendar#2021-01-20
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.80% 🇳🇿NZD: 0.73% 🇦🇺AUD: 0.66% 🇬🇧GBP: 0.20% 🇨🇭CHF: -0.12% 🇪🇺EUR: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/89DtqVlU6P
  • Poll: Which direction do you think $EURUSD will break when it does finally clear this 1.2150-2050 range?
  • Heads Up:🇧🇷 Interest Rate Decision due at 22:00 GMT (15min) Actual: 2% Expected: 2% Previous: 2% https://www.dailyfx.com/economic-calendar#2021-01-20
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Silver: 2.49% Gold: 1.66% Oil - US Crude: -0.72% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/myvItEiamp
US Dollar Technical Analysis: Range Support in the Crosshairs

US Dollar Technical Analysis: Range Support in the Crosshairs

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 may have finally started to turn lower as expected following the appearance of a bearish Evening Star candlestick pattern. Near-term support is at 11740, the 14.6% Fibonacci retracement, with a break below that on a daily closing basis exposing the 23.6% level at 11653. Alternatively, a reversal above the 11854-76 zone (14.6% Fib expansion, March 2009 high) opens the door for a challenge of the 23.6% expansion at 11963.

Our long-term fundamental 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.

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

US Dollar Technical Analysis: Range Support in the Crosshairs

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