US DOLLAR TECHNICAL ANALYSIS
– Prices may be preparing to turn lower anew following the formation of
a Bearish Engulfing candlestick pattern. A daily close below the 14.6%
Fibonacci expansion at 11773 exposes the 23.6% level at 11725.
Alternatively, a reversal above the 38.2% Fib retracement at 11836 opens
the door for a challenge of the 50% threshold at 11898.
Daily Chart - Created Using FXCM Marketscope
** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.
S&P 500 TECHNICAL ANALYSIS
– Prices are consolidating after breaking range resistance and setting a
new record high. From here, a daily close above the 50% Fibonacci
expansion at 2140.70 exposes the 61.8% level at 2159.30. Alternatively, a
move back below the 38.2% Fib at 2122.10 targets the 23.6% expansion at
2099.10.
Daily Chart - Created Using FXCM Marketscope
GOLD TECHNICAL ANALYSIS
– Prices are consolidating after issuing the largest daily decline in
three weeks. A close below trend line resistance-turned-support at
1205.90 exposes the 23.6% Fibonacci expansion at 1193.38. Near-term
resistance is at 1232.30, the May 18 high.
Daily Chart - Created Using FXCM Marketscope
CRUDE OIL TECHNICAL ANALYSIS
– Prices remain locked in a choppy consolidation range below the
$70/barrel figure. A daily close below the 23.6% Fibonacci retracement
exposes the 38.2% level at 60.27. Alternatively, a move above trend line
resistance at 67.69 targets the 23.6% Fib expansion at 69.70.
Daily Chart - Created Using FXCM Marketscope
Written by Ilya Spivak, Currency Strategist for DailyFX.com
No comments:
Post a Comment