US Dollar Spike Fails to Yield Breakout from Familiar Range

| 30 december, 2013 | 0 kommentarer

Talking Points:

  • US Dollar Down Spike Fails to Break Familiar Range
  • SP 500 Advance Pauses at Technical Resistance Level
  • Crude Oil Hits 2-Month High, Reclaims $100.00 Mark

Can’t access to the Dow Jones FXCM US Dollar Index? Try the USD basket on Mirror Trader. **

US DOLLAR TECHNICAL ANALYSIS – Prices rose as expected after putting in a bullish Piercing Line candlestick pattern. Resistance is now at 10723, the 50% Fibonacci expansion, with a break above that exposing the 61.8% level at 10760. Support is in the 10669-85 area, marked by the December 4 swing high and the 38.2% Fib.

Forex_US_Dollar_Spike_Fails_to_Yield_Breakout_from_Familiar_Range_body_Picture_5.png, US Dollar Spike Fails to Yield Breakout from Familiar Range

Daily Chart – Created Using FXCM Marketscope 2.0

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

SP 500 TECHNICAL ANALYSIS – Prices are testing resistance at 1843.40, the 50% Fibonacci expansion, with a break higher exposing the 61.8% level at 1863.00. Near-term support is at 1823.80, the 38.2% Fib, followed by the November 29 high 1813.10 and horizontal pivot cluster in the 1773.40-82.60 area.

Forex_US_Dollar_Spike_Fails_to_Yield_Breakout_from_Familiar_Range_body_Picture_6.png, US Dollar Spike Fails to Yield Breakout from Familiar Range

Daily Chart – Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices edged higher as expected after putting in a Harami candlestick pattern. Near-term resistance is at 1217.75, with a break above that exposing the 1251.54-67.71 area. Near-term support is at 1186.83, the December 20 low.

Forex_US_Dollar_Spike_Fails_to_Yield_Breakout_from_Familiar_Range_body_Picture_7.png, US Dollar Spike Fails to Yield Breakout from Familiar Range

Daily Chart – Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS Prices are testing resistance at 100.51, the 61.8% Fibonacci expansion, with a break higher targeting the 76.4% level at 101.53. Support is at 99.69, the 50% Fib. A break lower exposes the 98.74-86 area, marked by the 38.2% expansion and a horizontal pivot level.

Forex_US_Dollar_Spike_Fails_to_Yield_Breakout_from_Familiar_Range_body_Picture_8.png, US Dollar Spike Fails to Yield Breakout from Familiar Range

Daily Chart – Created Using FXCM Marketscope 2.0

— Written by Ilya Spivak, Currency Strategist for DailyFX.com

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

Contact and follow Ilya on Twitter: @IlyaSpivak

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

Din e-postadress kommer inte publiceras. Obligatoriska fält är märkta *