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
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
Gold
Bullish
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
Bitcoin
Bearish
More View more
Notice

DailyFX PLUS Content Now Available Freely to all DailyFX Users

Real Time News
  • Join @PaulRobinsonFX 's #webinar at 5:30 AM ET/9:30 AM GMT for insight on London #FX and #CFD trading. Register here: https://t.co/HmQ7tPOxXz https://t.co/Z5Jr7lRzPU
  • Missed today's #AUDUSD weekly outlook webinar? See the recording here - https://t.co/J4cnRMGNi8
  • Crude Oil Prices May Idle as the FOMC Regains the Spotlight - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2019/09/17/Crude-Oil-Prices-May-Idle-as-the-FOMC-Regains-the-Spotlight.html?utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #CrudeOil #OOTT
  • US Energy Secretary Perry says the US is taking a wait and see approach as to whether to use SPR
  • Lessons from Bretton Woods are forgotten, the US-China #tradewar represents a true existential threat to the post-World War II international trade order, and in turn, the globalized economy that has grown out of the ashes of history. More from @CVecchioFX :https://t.co/paaBxX6Xt0 https://t.co/TBxNcA745X
  • Another headache for the Riksbank as the Swedish labour market worsens - Unemployment rate 7.1% - Seasonal adjusted figure at 7.4% Notably above the Riksbank's forecast in its September monetary policy report $SEK https://t.co/5dhRRMvp2B
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.89%, while traders in France 40 are at opposite extremes with 80.28%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/MRpMVcygyC
  • Saudi Oil Minister press conference is set to take place from 18:15BST #OOTT
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Gold: -0.20% Silver: -0.34% Oil - US Crude: -0.97% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/SKWxoMbOFk
  • RT @LiveSquawk: 18:15 BST #OOTT https://t.co/uWBjXgfXlF
US Dollar Technical Analysis: Range Top Threatened Anew

US Dollar Technical Analysis: Range Top Threatened Anew

2015-03-03 02:45:00
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 has returned to test the top of a now-familiar range top capping gains since late January. Near-term resistance is in the 11854-76 area (14.6% Fibonacci expansion, March 2009 high), with a break above that on a daily closing basis exposing the 23.6% level at 11963. Alternatively, a below the 14.6% Fib retracementat 11740 opens the door for a challenge of the 23.6% threshold at 11653.

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 Top Threatened Anew

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

provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.