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
Bearish
Gold
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
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
Real Time News
  • Tomorrow's event risk include employment numbers out of Australia, German and Euro-Zone GDP Q3 readings, overnight rate decision from Banxico, and Fed Chair Powell will testify before the House Budget Committee $EUR $MXN $AUD $DXY https://t.co/2oJpJwij0q
  • DailyFX Sr. Currency Strategist @CVecchioFX is a long term macro trader. What is your #tradingstyle? Take the quiz and let us know in the comments! https://t.co/LPBOcS0Vtd https://t.co/GmxPPpX1Be
  • This tweet from last week is just as true today as it was then https://t.co/RPZp0xAF7C
  • $EURUSD Daily Pivot Points: S3: 1.0944 S2: 1.0981 S1: 1.0995 R1: 1.1031 R2: 1.1053 R3: 1.1089 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 1.28% 🇨🇭CHF: 0.31% 🇯🇵JPY: 0.18% 🇪🇺EUR: -0.02% 🇦🇺AUD: -0.05% 🇨🇦CAD: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/DMbCFCWxda
  • The People's Bank of China said the country's crypto solution - 'digital Yuan' - should have ‘controllable anonymity’. I may be reaching here, but I don't expect strong global uptake from the crypto community...
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Silver: 1.06% Oil - US Crude: 0.50% Gold: 0.43% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xdwa4LvTDp
  • The Eurozone Citi economic surprise index rises to -15.9 today from -57.3 on October 24th, reflecting improving economic data releases relative to consensus expectations. https://t.co/u15ZV7rNne
  • Crude #oil prices have continued their recovery as progress on the US-China trade war front has reduced concerns over global growth. Get your crude oil market update from @CVecchioFX here: https://t.co/Ic78Q6IlWm #OOTT https://t.co/89TAIkty5j
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.63%, while traders in France 40 are at opposite extremes with 85.42%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ZdU3O8HxqL
Technical Outlook: US Dollar, Gold Price, Crude Oil, DAX & More

Technical Outlook: US Dollar, Gold Price, Crude Oil, DAX & More

2017-06-23 13:15:00
Paul Robinson, Currency Strategist
Share:

Join Paul Tuesday-Friday for webinars each week, for details please see the Webinar Calendar.

Today, we took a look at the US Dollar Index (DXY) coming off a confluence of resistance consisting of a downtrend line off the April peak and a swing-high from May. EURUSD is holding support in the 11100s, and as long as it continues to hold the bias remains constructive. One-week implied volatility (IV) is at a low 5.47%, meaning volatility is expected to very low over the coming week. GBPUSD is bouncing around between support and resistance.

Cross-rates we took a look at were EURAUD, EURNZD, GBPAUD, GBPNZD, in addition to a few Yen crosses. USDMXN is heading lower off a trend-line we noted on Wednesday, while we are still waiting for USDZAR to set up again from the short-side.

The price of gold and the US dollar have been trading with a strongly negative correlation, and recently came into the unique situation of the US Dollar Index (DXY) trading are resistance while gold simultaneously traded at support. Thus far the confluence is working out as anticipated.

Crude oil continues its weak ways, and we expect over the coming weeks for more weakness to follow. So far it has played to script for the shorts, but a broader bounce may soon develop before resuming lower.

Equity indices are teetering, but are still holding support. The S&P 500 is trading at a key slope, while the DAX is treading at the bottom of an ascending wedge we’ve been focused on. The FTSE 100 is trying to hold major support.

Looking for trade ideas? Check out our Trading Guides.

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email bysigning up here.

You can follow Paul on Twitter at @PaulRobinonFX.

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

DISCLOSURES

News & Analysis at your fingertips.