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. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
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
More View more
Real Time News
  • 9 out of 11 S&P 500 sectors ended lower, with 79.2% of the index’s constituents closing in the red. Energy (-2.63%), industrials (-1.47%) and financials (-1.34%) were among the worst performers, whereas real estate (+0.17%) outperformed.
  • Gold Price Forecast: XAU/USD Bid on Weak Dollar, Softer Yields -via @DailyFX Link to Full Analysis: $XAUUSD $GLD $GC_F
  • The US Dollar is losing ground against a few ASEAN counterparts. USD/SGD, USD/IDR and USD/PHP seem to be maintaining a downside bias. USD/THB may rise. Get your market update from @ddubrovskyFX here:
  • Treasury Sec. Yellen: - Investments and tax proposals in "Jobs Plan" will enhance net profitability of corporations, improve global competitiveness - These are investments to make the economy more competitive and sustainable
  • Treasury Sec. Yellen: - Corporate sector must bear its fair share, plan to return corporate tax toward the historical norm - We will target incentives for companies to move funds, operations overseas
  • Treasury Sec. Yellen: - We must improve public R&D to maintain America's technological edge - We must build support systems to improve quality of life and opportunities for those most impacted by wealth inequality
  • Treasury Sec. Yellen: - We must reorient the framing of US fiscal policy - Poor US fiscal policy has meant infrastructure wasn't maintained or modernized
  • Treasury Sec. Yellen: - Innovation required from public & private sector to improve the economy - We must invest in public infrastructure and institutions that drive productivity
  • Treasury Sec. Yellen: - Wage gains and profits have benefitted the top families in America - Middle class families have faced wage stagnation
  • Bitcoin lower for the 4th consecutive day, but crucially held above $42,000 #BTC #Bitcoin $BTCUSD
US Dollar Technical Analysis: Drop Leaves Larger Trend Intact

US Dollar Technical Analysis: Drop Leaves Larger Trend Intact

Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • US Dollar Technical Strategy: Long via Mirror Trader USD Basket **
  • Prices Suffer Worst 4-Day Decline in Over a Year
  • Rout Leaves Multi-Year Uptrend, Bullish Bias Intact

The Dow Jones FXCM US Dollar Index continues to sink, falling for a fourth consecutive day and hitting the lowest level in two months. The momentum behind the selloff has proved to be dramatic, with prices suffering the fastest four-day rout in close to 15 months.

Aggressive losses notwithstanding, taking up a short position appears unattractive. In the longer-term sense, recent volatility is a long way from threatening the multi-year US Dollar uptrend in play since August 2011. In fact, recent volatility has been entirely locked within the bounds of the choppy range in play since prices topped in March of this year.

In fact, even a return to mid-May lows would amount to a pullback of less than 5 percent from year-to-date highs. By comparison, similarly potent downward corrections in the broader advance recorded thus far have averaged closer to 6 percent. This means the greenback is a way yet from setting off structural trend change alarm bells, suggesting current moves may represent a future long entry opportunity waiting to happen (at least thus far).

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

US Dollar Technical Analysis: Drop Leaves Larger Trend Intact

** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.

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