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
Bearish
Oil - US Crude
Bearish
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
Bullish
GBP/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
USD/JPY
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
More View more
Real Time News
  • Heads Up:🇹🇭 Balance of Trade (MAR) due at 03:30 GMT (15min) Expected: $0.6B Previous: $7.25B https://www.dailyfx.com/economic-calendar#2021-04-22
  • RT @FxWestwater: #Euro Technical Analysis: $EURUSD, $EURAUD, $EURNZD, $EURJPY Chart Setups Link: https://www.dailyfx.com/forex/market_alert/2021/04/22/Euro-Technical-Analysis-EURUSD-EURAUD-EURNZD-EURJPY-Chart-Setups.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co/nX…
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.07% Silver: -0.25% Oil - US Crude: -0.82% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/24SAvh8ude
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/egstowtltH
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.12% 🇬🇧GBP: 0.09% 🇪🇺EUR: 0.09% 🇦🇺AUD: 0.04% 🇨🇦CAD: 0.01% 🇳🇿NZD: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/D9tyhgy0CG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.65%, while traders in Wall Street are at opposite extremes with 71.89%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/YldZ1a7abi
  • Update on #Cryptocurrencies #BITCOIN -2.72% #BITCOINCASH -5.01% #ETHEREUM +5.15% #RIPPLE -4.21% #LITECOIN -0.24% #DOGECOIN -5.15%
  • Tokyo Governor Yuriko Koike asked central government to declare state of emergency -BBG
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/EXYkozlj21
  • 🇯🇵 Foreign Bond Investment (17/APR) Actual: ¥906.5B Previous: ¥1715.5B https://www.dailyfx.com/economic-calendar#2021-04-21
US DOLLAR Technical Analysis: Hello 12,000, My Old Friend

US DOLLAR Technical Analysis: Hello 12,000, My Old Friend

Tyler Yell, CMT, Currency Strategist

Talking Points:

  • US Dollar Technical Strategy: So Close, Yet So Far From A Significant Break
  • What Appears To Be A Missing Ingredient For a Breakout
  • What Components of the US Dollar Index To Watch?

Access Our Free Q3 Dollar Outlook As The Fed Appears Cornered Regarding Effective Monetary Policy

Volatility is in a bear market, and that’s typically not a good sign for the US Dollar. This morning, the average 1-Month Implied Volatility for G8 FX fell to its lowest levels since early January 2015 before the SNB pulled their peg against the Euro that wreaked havoc on many. When looking at fundamental readings like NFP, The US Dollar has had the fundamental backdrop for a breakout THAT even the most optimistic US Dollar Bulls should be thankful.

However, the US Dollar has failed to make significant headway. A lack of upside appears worrisome because what the market is not doing can be as significant (if not more so) than what is doing because investors, therefore, do not see the value in bidding up an asset with an ideal fundamental backdrop.

18-Month USDOLLAR Index Chart / Bearish Channel Holding

US DOLLAR Technical Analysis: Hello 12,000, My Old Friend

The 12,000/100 zone that we’ve long watched continues to be a foe to USDollar Bulls. Such resistance does not mean they should give up, but if resistance holds them back again, it’s fair to say that the US Dollar time to shine may still be further away than many anticipated with recent NFPs.

Find The Habits That Emerged from Successful Traders When We Studied 10’s of Millions Real Trades

Of the four counterparts for the US Dollar of the EUR, GBP, JPY, & AUD, the JPY & AUD have been resilient and have proven to be a better purchase over the US Dollar. The JPY initially strengthened to 98.77 on the Brexit confirmation but has since oscillated around 102 JPY per USD.

If the US Dollar cannot find lift-off here, it’s tough to imagine the scenario that it will. Thankfully, we can look to the charts for guidance from here.

The Fundamentals And Technical Picture May Be Aligning to US Dollar Strength

US DOLLAR Technical Analysis: Hello 12,000, My Old Friend

The technical picture on the USDollar charts shows resilience this summer. Currently, we have resistance at 12,100 (late-July closing high). Unfortunately for Bulls, the opening range breakout reversed, which puts the burden of proof on the Bulls and places the path of least resistance lower.

To See How Live Clients Are Positioned In FX & Equities Click Here Now

The Bearish channel (red) has done a fine job of framing price action. L added a few extensions drawn off the slope of the median line that also did a good job of acting as support pre-Brexit. However, before buying, we must await a breakout before we celebrate the strength of the US Dollar and only a break above the ~12,100 resistance would turn the favor toward the Bulls well into Q3.

Shorter-Term US Dollar Technical Levels for Tuesday, August 9, 2016

For those interested in shorter-term levels of focus than the ones above, these levels signal important potential pivot levels over the next 48-hours of trading.

US DOLLAR Technical Analysis: Hello 12,000, My Old Friend

T.Y.

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

DISCLOSURES